The United States Federal Deposit Insurance Corporation is looking for information and public comments on banks’ cryptocurrency-related activities.
The FDIC is the major provider of deposit insurance to U.S. commercial and savings banks, originally created to address bank runs during the Great Depression.
On Monday, the FDIC officially announced a request for public input to get more information on the industry and consumers’ interests in the market as well as the role of banks in the digital asset ecosystem.
“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,” the FDIC stated.
The corporation is particularly looking to improve its understanding of digital asset use cases in financial markets and intermediation, as well as settlement and payment systems. The FDIC is also…