NCUA Letter to Credit Unions: Federally Insured Credit Union Use of Distributed Ledger Technologies

Today, the NCUA issued a letter to federally insured credit unions clarifies certain expectations for credit unions contemplating the use of new or emerging distributed ledger technologies (DLT)  reiterates the importance of sound governance and planning related to deploying new technologies like DL. 

The rapid emergence of financial technology is creating opportunities for credit unions to increase speed of service, improve security, and expand products and services. In this spirit, the NCUA Board is exploring how the agency can provide clarity around expectations regarding financial technology adoption to not impede safe, fair, and responsible federally insured credit union engagement.