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The NCUA Board published a Request for Information on July 27, 2021, to solicit information regarding a wide range of issues pertaining to decentralized finance, digital assets, and the use of distributed ledger technology as they relate to the credit union industry. The NCUA subsequently issued two Letters to Credit Unions relating to digital assets and distributed ledger technology. Recently, the Office of the Comptroller of the Currency and the Federal Deposit Insurance Corporation issued guidance that clarifies that their regulated institutions may generally engage in certain permissible activities relating to digital assets without receiving prior approval. The Board is considering action to further clarify that federally insured credit unions do not need NCUA prior approval to engage in permissible digital asset related activities done in a safe and sound manner.