FI Business Decisions and Governance in the Crypto Space

Cryptocurrency continues to be a hot topic for financial institutions. The Nacha Payments Innovation Alliance (Alliance) is looking to explore today’s practices and how it may change in the future. The Navigating Through Digital Payments Project Team has created this survey to establish a baseline view of the knowledge, usage, and current policies for crypto and closed-loop digital currency. The aggregated responses will be posted on the Alliance website for participants to view once the survey has closed and been analyzed. We appreciate your support and request responses by February 28, 2025.

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* 1. To what extent is your level of understanding of cryptocurrency/digital currency? (1=low; 10=high)

Clear

i We adjusted the number you entered based on the slider’s scale.

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* 2. To what extent is your organization involved with the following:

	Not at all	Not currently, but expect to in next 24 months	Actively Involved	Not aware
Cryptocurrency (not fiat-backed such as bitcoin)	Cryptocurrency (not fiat-backed such as bitcoin) Not at all	Cryptocurrency (not fiat-backed such as bitcoin) Not currently, but expect to in next 24 months	Cryptocurrency (not fiat-backed such as bitcoin) Actively Involved	Cryptocurrency (not fiat-backed such as bitcoin) Not aware
Closed-loop digital currency (fiat-backed such as stablecoin)	Closed-loop digital currency (fiat-backed such as stablecoin) Not at all	Closed-loop digital currency (fiat-backed such as stablecoin) Not currently, but expect to in next 24 months	Closed-loop digital currency (fiat-backed such as stablecoin) Actively Involved	Closed-loop digital currency (fiat-backed such as stablecoin) Not aware

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* 3. Does your organization have policies in place about cryptocurrency?

	YES	NO	DON'T KNOW
Crypto enablement	Crypto enablement YES	Crypto enablement NO	Crypto enablement DON'T KNOW
Customer transaction activity (i.e. purchase/redeem crypto through bank account)	Customer transaction activity (i.e. purchase/redeem crypto through bank account) YES	Customer transaction activity (i.e. purchase/redeem crypto through bank account) NO	Customer transaction activity (i.e. purchase/redeem crypto through bank account) DON'T KNOW
Corporate customer transaction activity (i.e. purchase/acceptance/redeem crypto through bank account)	Corporate customer transaction activity (i.e. purchase/acceptance/redeem crypto through bank account) YES	Corporate customer transaction activity (i.e. purchase/acceptance/redeem crypto through bank account) NO	Corporate customer transaction activity (i.e. purchase/acceptance/redeem crypto through bank account) DON'T KNOW
Risk management	Risk management YES	Risk management NO	Risk management DON'T KNOW
Compliance	Compliance YES	Compliance NO	Compliance DON'T KNOW
Technology use and development	Technology use and development YES	Technology use and development NO	Technology use and development DON'T KNOW

Other (please specify)

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* 4. Does your organization have groups that oversee these functions for cryptocurrency?

	YES	NO	DON'T KNOW
Regulatory and compliance developments	Regulatory and compliance developments YES	Regulatory and compliance developments NO	Regulatory and compliance developments DON'T KNOW
Organizational education/awareness	Organizational education/awareness YES	Organizational education/awareness NO	Organizational education/awareness DON'T KNOW
Risk management/oversight	Risk management/oversight YES	Risk management/oversight NO	Risk management/oversight DON'T KNOW
Third party/Vendor management	Third party/Vendor management YES	Third party/Vendor management NO	Third party/Vendor management DON'T KNOW
Technology development	Technology development YES	Technology development NO	Technology development DON'T KNOW

Other (please specify)

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* 5. In what ways is your organization identifying your customer's crypto activity on their account? (Check all that apply.)

Transaction/query

Third party solution

Manual tracking

N/A

Other (please specify)

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* 6. If a corporate client processes crypto, will you take them on as a client?

Yes

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* 7. Do you have any due diligence processes in place for these customers? If yes, please list.

Yes

List processes

FI Business Decisions and Governance in the Crypto Space

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* 1. To what extent is your level of understanding of cryptocurrency/digital currency? (1=low; 10=high)

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* 2. To what extent is your organization involved with the following:

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* 3. Does your organization have policies in place about cryptocurrency?

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* 4. Does your organization have groups that oversee these functions for cryptocurrency?

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* 5. In what ways is your organization identifying your customer's crypto activity on their account? (Check all that apply.)

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* 6. If a corporate client processes crypto, will you take them on as a client?

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* 7. Do you have any due diligence processes in place for these customers? If yes, please list.

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* 8. Are there any other topics/information related to cryptocurrency/digital currency that you believe the industry should be addressing?