The Federal Deposit Insurance Corporation (FDIC) wants to know more about depository institutions that hold digital assets. The FDIC is in charge of insuring bank deposits in the US – insurance that is needed by all depository institutions in order to operate in the country.
The new announcement represents a call for “current and potential digital asset use cases” at insured institutions. It asks for info regarding digital assets in payments, custody, investing at member banks, and much more.
It’s worth mentioning that the questions are open-ended, such as: “Are there any unique aspects of digital asset activities that the FDIC should take into account from a supervisory perspective?”
Since the limits between traditional banking and crypto companies are getting fuzzier by the day, regulatory bodies such as the FDIC are becoming more interested in how to join the crypto wave. For example, in the fall of 2020, the FDIC was searching for a “FinTech Counsel” for its legal team.
Source: Decrypt.com