DCUC seeks clearer Crypto rules after Senate setback. Tyfone - 3.0 Portland, OR Job Details 23 hours ago Qualifications Senior level Cryptocurrency Full Job Description The Defense Credit Union Council is urging the National Credit Union Administration to give credit unions clearer guidance on digital-asset activities after the Senate last week blocked a procedural vote on legislation intended to establish a federal framework for digital commodities. The Senate voted 49-50 on Sept. 15 against invoking cloture on a motion to proceed to the Digital Asset Market Clarity Act, falling short of the three-fifths vote required to advance the measure. In a letter to NCUA Chairman John Crews, DCUC asked the agency to consolidate its existing digital-asset guidance into a practical roadmap for credit unions. The group said institutions need to know what activities they can undertake now, when a subsidiary or outside provider is required, when regulators must approve an activity and what boards and examiners will expect. "Credit unions need a clear understanding of what they can do today, what conditions apply, and where additional authority is needed," said Anthony Hernandez, DCUC's president and chief executive, a retired U.S. Air Force colonel. Hernandez said the NCUA had already established a foundation through earlier digital-asset guidance and implementation of the GENIUS Act, but that the pieces should now be brought together into a framework credit unions can use. DCUC's request comes as the industry works through a patchwork of existing rules and emerging policy around digital assets. The group pointed to NCUA guidance issued in 2021 that addressed qualifying relationships with third-party digital-asset providers, as well as 2022 guidance stating that distributed-ledger technology is not prohibited when used for otherwise permissible activities and in compliance with applicable law. The trade group wants the agency to go further with activity-specific guidance covering third-party services, payment and settlement functions, payment stablecoins, tokenized shares, custody-related services and other uses of distributed-ledger technology.