« NCUA’s Final Rule on Charitable Donation Accounts; FHFA's Plan to Increase Mortgage Fees Delayed; Programming Note | Main | A Plan to Start Fresh: Throwing Out the Uncovered 2013 NCUA News; Programming Note »

December 27, 2013


Todd Erickson

With FINCEN’s officially classifying Bitcoin as a “Virtual Currency” and applying all of the rules and standards of Foreign Currencies, the door is open under part 712.5 “Pre-Approved or Permissible Services”, (a) Checking and currency services: or (e)(8) Cyber financial services for CUSO’s. Further guidance from the GAO and the Federal Reserve make this emerging payments technology a strong revenue and market share opportunity!

Not to mention this could be a leading edge member service that could be offered as a viable alternative to wire transfers, pre-paid debit cards or as an alternative to Pay-pal.

The comments to this entry are closed.

Enter your email address:

Delivered by FeedBurner