The National Credit Union Administration (NCUA) said in a statement on Thursday that the Federal Insurance Credit Union (FICU) can cooperate with third-party digital asset service providers. This includes promoting the relationship between members and third parties, allowing FICU members and third-party providers outside of FICU to purchase, sell and hold various uninsured digital assets.
NCUA stated that it hopes to clarify the existing authority of FICU to establish relationships with third-party digital asset providers. NCUA said that with the development of digital assets and technology, further guidance may be needed, and the association will continue to research and solve problems that arise. It is reported that NCUA is the US federal regulatory agency responsible for supervising credit cooperatives and is the counterpart of the Office of the Comptroller of the Currency (OCC), which supervises the National Bank.