The NCUA has told credit unions they can use the technology behind cryptocurrency as long as they follow NCUA principals to ensure compliance with existing regulations and don’t create undue risk. In a letter sent Thursday, the NCUA Chairman said that they do not prohibit credit unions from engaging in distributed ledger technology to support cryptocurrencies as long as it is used for permissible activities and is in compliance with applicable laws and regulations.
To read the NCUA letter, please click here.