Cryptocurrency puzzle
Report Abusive Comment Thank you the credit union industry. Why pay for title companies. Is there a better way.
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Report Abusive Comment Thank you the credit union industry. Why pay for title companies. Is there a better way.
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Historically, regulation could focus on known risks to safety and soundness as well as consumer financial protection. While it is uncertain what approach regulators will take, credit unions should focus education on the following key compliance areas as they prepare for evolving crypto use cases: Know Your Member, Suspicious Activity Reports, and OFAC Screening. For example, the Electronic Fund Transfers Act Regulation E does not cover crypto transactions but adopting some level of consumer protection against fraud may be desired as it interacts with traditional financial solutions. The regulator noted that despite economic disruption within the financial industry, the credit union system has remained stable in its performance and relatively resilient.
