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Credit unions are reportedly looking for regulatory approval to hold crypto assets
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Credit unions around the US are seeking approval to hold crypto assets like bitcoin, with the move following regulatory clarification that they can offer cryptocurrency services by teaming up with third parties, according to a Bloomberg report.
Credit unions with federally insured deposits can work with third-party providers of crypto services to allow their members to purchase, sell, and hold digital assets if certain conditions are met, the National Credit Union Administration said in a letter published last week.
The guidance gives credit unions the assurance to form partnerships, clarifying what many thought has been possible under existing rules, Lance Noggle, senior director of advocacy for payments and
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