Additionally, if these guidelines provide a pathway to IDI status for institutions seeking FDIC deposit insurance, eligible firms operating in the digital asset space will be encouraged to bring their activities further into the U.S. “ADAM believes that thoughtful guidelines directed toward Insured Depository Institutions (IDIs) based on principles of consumer protection can have an impact beyond the banking sector and significantly strengthen the overall digital asset industry. In the letter, ADAM’s comments covered the growing demand for digital assets, current and potential digital asset use cases, supervision and activities, and the regulatory process and dialogue moving forward.

“ We look forward to continuing to work with the FDIC to forge a path toward regulatory certainty that will protect consumers, promote market integrity, and enable this emerging industry to grow and thrive.” The FDIC’s transparent approach to understanding the role of digital assets and opening a dialogue with industry stakeholders is a welcome sign,” said ADAM CEO Michelle Bond, who penned the comment letter on behalf of the association. “ The marked increase in corporate and customer demand for digital assets has spurred a rush of policy considerations among a panoply of federal regulators. WASHINGTON, D.C.- As part of its ongoing efforts to promote best practices for safe, effective, efficient, inclusive, and innovative financial services, the Association for Digital Asset Markets (ADAM) submitted public comment to the Federal Deposit Insurance Corporation’s (FDIC) request for information and comment on digital assets.Įarlier this year, the FDIC announced it was gathering information and seeking guidance on the digital asset ecosystem as it explores a regulatory framework that will support the future of banking, including the role banks may play in the digital asset industry, as well as the effects digital assets may have on the banking sector. The Association for Digital Asset Markets (ADAM) responds to the Federal Deposit Insurance Commission’s request for information on digital assets and their impacts on the banking sector

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