Cryptocurrency Policy
This Cryptocurrency Policy Template is for a bank, credit union, fintech company, or other type of financial institution to offer its customers a Cryptocurrency Service through its Internet and mobile banking product platforms.
Table of Contents
- Purpose and Contents – Topic 1
- Policy Statement – Topic 2
- Definitions – Topic 3
- Risk Management – Topic 4
- Eligibility Requirements – Topic 5
- Service Availability Disclosure – Topic 6
- Product Features, Transactions and Fees – Topic 7
- Service Termination – Topic 8
- Complaint Policy – Topic 9
- Audit Policy – Topic 10
- Staff Training – Topic 11
- Retention of Documentation – Topic 12
Recent updates to this product:
03/01/23 Update
Joint Release – Joint Statement on Liquidity Risks to Banking Organizations resulting from Crypto-Asset Market Vulnerabilities
01/17/23 Update
Joint Release – Joint Statement on Crypto-Asset Risks to Banking Organizations
12/01/22 Update
CFPB Complaint Bulletin – An Analysis of Consumer Complaints Related to Crypto-Assets
09/01/22 Update
Federal Reserve Press Release – Engagement in Crypto-Asset-Related Activities by Federal Reserve-Supervised Banking Organizations
08/15/22 Update
FDIC FIL-35-2022 – Advisory to FDIC-Insured Institutions Regarding Deposit Insurance and Dealings with Crypto Companies
04/18/22 Update
FDIC FIL-16-2022 – Notification of Engaging in Crypto-Related Activities
NOTE: We highly recommend when placing an order for this product that you add a Product Update Protection Plan to your shopping cart since we anticipate the federal regulators will continue to issue additional guidance with regards to the oversight of cryptocurrency/virtual currency. Purchasing the plan will ensure you receive an updated version of this policy template product automatically every time it is revised via e-mail within one year from the last date of purchase.
This Cryptocurrency Policy Template (approximately 29 pages) is available to purchase from BankPolicies.com in Microsoft® Word format.
Want to ensure your purchase from BankPolicies.com remains current? Add a Product Update Protection Plan to your shopping cart to ensure that you will automatically receive an updated version every time it is revised via e-mail within one year from the last date of purchase. This timely and cost-effective solution ensures that you stay on top of federal regulatory changes and industry recommended best practices.
When updates are made you will receive detailed information regarding why the product was updated and what has changed within the product in our Product Update Notification e-mail correspondence. This enables you to make an informed decision on whether to make any changes to the policy or procedure you implemented for your financial institution from the revised template.
BankPolicies.com provides your financial institution with the best bank policy template products available in the industry. You will always be up to date with the latest changes to bank policies and never have to worry about being out of compliance with the various laws, rules and regulations issued by the Consumer Financial Protection Bureau (CFPB), Federal Deposit Insurance Corporation (FDIC), Federal Reserve, Office of the Comptroller of the Currency (OCC), or other federal regulatory bodies that may apply to your organization.
Our dedicated staff of career banking industry professionals are ready to keep your financial institution up to date with the latest bank policy standards and industry best practices. Purchase your bank policies from us today and rest easy knowing you have the right team helping you and your organization stay compliant. We look forward to earning your business for all of your bank policy needs.
