Cryptocurrency And Digital Asset Deposits: Regulations And Risk

Do you accept digital asset deposits? Learn how to mitigate risks and adhere to regulations while meeting this growing accountholder expectation.

Through July 16, the FDIC is soliciting information from financial institutions on their current and planned use of digital assets. The FDIC’s request for information noted, “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.”

If your institution is not already handling digital assets, you likely will soon. You must learn about new products, stable coins, and how financial institutions use these currencies. You need to understand and mitigate the risks associated with digital assets and follow the quickly evolving regulatory guidance for their use.

• What regulations cover banking digital assets?
• How are financial institutions using digital assets today?
• How will evolving laws change cryptocurrency use?
• What are the risks of not offering digital asset deposits?
• What risks related to digital assets do financial institutions face?
• How can you manage the risks?