Notice2021-21085
Request for Information and Comment on Digital Assets and Related Technologies
Primary source
Metadata and text below are from the Federal Register, a public-domain U.S. government work. Always verify the official published version before relying on it for any legal matter.
Published
September 28, 2021
Issuing agencies
National Credit Union Administration
Abstract
On July 27, 2021, the NCUA Board (Board) published in the Federal Register a document entitled "Request for Information and Comment on Digital Assets and Related Technologies" (RFI) and invited comments from interested parties regarding the current and potential impact of activities connected to digital assets and related technologies on federally insured credit unions (FICUs), related entities, and the NCUA. The Board noted that it was broadly interested in receiving input on commenters' views in this area, including current and potential uses in the credit union system, and the risks associated with them. To allow interested persons more time to consider and submit their comments, the Board has decided to extend the comment period for an additional 30 days.
Full Text
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<title>Federal Register, Volume 86 Issue 185 (Tuesday, September 28, 2021)</title>
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[Federal Register Volume 86, Number 185 (Tuesday, September 28, 2021)]
[Notices]
[Pages 53692-53693]
From the Federal Register Online via the Government Publishing Office [<a href="http://www.gpo.gov">www.gpo.gov</a>]
[FR Doc No: 2021-21085]
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NATIONAL CREDIT UNION ADMINISTRATION
[NCUA 2021-0102]
RIN 3133-AF39
Request for Information and Comment on Digital Assets and Related
Technologies
AGENCY: National Credit Union Administration (NCUA).
ACTION: Request for information and comment; extension of comment
period.
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SUMMARY: On July 27, 2021, the NCUA Board (Board) published in the
Federal Register a document entitled ``Request for Information and
Comment on Digital Assets and Related Technologies'' (RFI) and invited
comments from interested parties regarding the current and potential
impact of activities connected to digital assets and related
technologies on federally insured credit unions (FICUs), related
entities, and the NCUA. The Board noted that it was broadly interested
in receiving input on commenters' views in this area, including current
and potential uses in the credit union system, and the risks associated
with them. To allow interested persons more time to consider and submit
their comments, the Board has decided to extend the comment period for
an additional 30 days.
DATES: The comment period for the RFI published July 27, 2021, at 86 FR
40213, is extended. Responses to the RFI must now be received on or
before October 27, 2021.
ADDRESSES: You may submit comments by any one of the following methods
(Please send comments by one method only):
<bullet> Federal eRulemaking Portal: <a href="http://www.regulations.gov">http://www.regulations.gov</a>.
Follow the instructions for submitting comments for NCUA Docket 2021-
0102.
<bullet> Fax: (703) 518-6319. Include ``[Your name] Comments on
``Request for Information and Comment on Digital Assets and Related
Technologies.''
<bullet> Mail: Address to Melane Conyers-Ausbrooks, Secretary of
the Board, National Credit Union Administration, 1775 Duke Street,
Alexandria, Virginia 22314-3428.
<bullet> Hand Delivery/Courier: Same as mailing address.
Public Inspection: You may view all public comments on the Federal
eRulemaking Portal at <a href="http://www.regulations.gov">http://www.regulations.gov</a> as submitted, except
for those we cannot post for technical reasons. NCUA will not edit or
remove any identifying or contact information from the public comments
submitted. Due to social distancing measures in effect, the usual
opportunity to inspect paper copies of comments in the NCUA's law
library is not currently available. After social distancing measures
are relaxed, visitors may make an appointment to review paper copies by
calling (703) 518-6540 or emailing <a href="/cdn-cgi/l/email-protection#b6f9f1f5fbd7dfdaf6d8d5c3d798d1d9c0"><span class="__cf_email__" data-cfemail="7d323a3e301c14113d131e081c531a120b">[email protected]</span></a>.
FOR FURTHER INFORMATION CONTACT: Policy and Analysis: Scott Borger,
Senior Financial Modeler and Todd Sims, National Payment Systems
Officer, Office of National Examinations and Supervision, (703) 518-
6640; Legal: Thomas Zells, Senior Staff Attorney, Office of General
Counsel, (703) 518-6540; or by mail at National Credit Union
Administration, 1775 Duke Street, Alexandria, VA 22314.
SUPPLEMENTARY INFORMATION: On July 27, 2021, the Board published in the
Federal Register an RFI inviting comments from interested parties
regarding the current and potential impact of activities connected to
digital assets and related technologies on FICUs, related entities, and
the NCUA.\1\ The Board published the RFI with the aim of engaging the
broad credit union industry and other stakeholders and learning how
emerging DLT and DeFi applications are viewed and used. The RFI
emphasized that the NCUA hopes to learn how the credit union community
is using these emerging technologies and gain additional feedback as to
the role the NCUA can play in safeguarding the financial system and
consumers in the context of these emerging technologies. In order to
continue to
[[Page 53693]]
fulfill its mandate to maintain a safe and sound credit union system
and protect credit union members, the NCUA is working to better
understand the implications of these changes and the associated
benefits or challenges that may exist.
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\1\ 86 FR 40213 (July 27, 2021).
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The RFI provided a 60-day public comment period that closed on
September 27, 2021. Given the complexity of the subject and the breadth
of the request, the Board believes it is necessary to extend the
comment period to give all interested parties sufficient time to
consider the RFI and provide input. The Board believes that extending
the comment period for an additional 30 days is appropriate. This
extension should allow interested parties more time to prepare
responses without delaying the NCUA's review of the comments already
received.
As stated in the RFI, the Board is seeking comments on the current
and potential impact of activities related to DLT and DeFi on the
credit union system. The NCUA remains broadly interested in receiving
input on parties' views in this area, including current and potential
uses. Commenters are also encouraged to discuss any and all relevant
issues they believe the Board should consider with respect to these
technologies and related matters. It is worth reiterating that the RFI
did not modify any existing requirements applicable to FICUs and does
not grant FICUs any new authorities or limit any existing authorities.
The RFI also did not speak to the permissibility or impermissibility of
any specific activity.
Authority: 12 U.S.C. 1756 and 1784.
By the National Credit Union Administration Board.
Melane Conyers-Ausbrooks,
Secretary of the Board.
[FR Doc. 2021-21085 Filed 9-23-21; 4:15 pm]
BILLING CODE 7535-01-P
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