In the letter released last week, the agency instructs those institutions falling within the FDIC remit to notify the agency promptly before engaging in a digital asset-related activity.
The OCC, the FDIC and the Federal Reserve have said in a joint statement that they’ll focus on a long-term policy strategy in 2022 after this year’s policy sprints.
The FDIC is working with the Federal Reserve and other agencies on how to regulate the digital currency industry, with one of its proposals being that all stablecoins must prove that they are backed 1:1 by highly liquid assets.
The Federal Deposit Insurance Corporation (FDIC) has issued a request for information and comment on digital assets, in a bid to learn more about how institutions are currently using digital assets.
The body, which protects bank deposits in the U.S. via a compulsory insurance scheme for financial institutions, id looking for information on “current and potential digital asset use cases” for insured institutions.