The Federal Deposit Insurance Corporation (FDIC) has announced it requires more information on digital assets as a means of finding out how institutions are using digital assets now and how they plan on using them in the future.
Those interested can submit their comments by July 16th with reviews being planned to take place after.
The FDIC represents an independent body created by the US Congress in order to offer insurance for the US financial system, thus having a highly important role in offering trust and stability in the sector.
By deciding to be more informed in regards to digital assets, could play a role in making crypto mainstream.
“One area of new technology and innovation surrounds the use of digital assets in financial markets and intermediation, as well as with settlement and payment systems. Banks are increasingly exploring several roles in the emerging digital asset ecosystem, such as being custodians, reserve holders, issuers, and exchange or redemption agents; performing node functions, and holding digital asset issuers’ money deposits,” declared the FDIC.
It also added: “The FDIC recognizes that there are novel and unique considerations related to digital assets, and this RFI is intended to help inform the FDIC’s understanding in this area. The FDIC is seeking input on current and potential use cases involving IDIs and their affiliates and risk and compliance management in conducting such activities.”