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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.
1.To what extent is your level of understanding of cryptocurrency/digital currency? (1=low; 10=high)
1
10
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)
Closed-loop digital currency (fiat-backed such as stablecoin)
3.Does your organization have policies in place about cryptocurrency?
YES
NO
DON'T KNOW
Crypto enablement
Customer transaction activity (i.e. purchase/redeem crypto through bank account)
Corporate customer transaction activity (i.e. purchase/acceptance/redeem crypto through bank account)
Risk management
Compliance
Technology use and development
4.Does your organization have groups that oversee these functions for cryptocurrency?
YES
NO
DON'T KNOW
Regulatory and compliance developments
Organizational education/awareness
Risk management/oversight
Third party/Vendor management
Technology development
5.In what ways is your organization identifying your customer's crypto activity on their account? (Check all that apply.)
6.If a corporate client processes crypto, will you take them on as a client?
7.Do you have any due diligence processes in place for these customers? If yes, please list.
8.Are there any other topics/information related to cryptocurrency/digital currency that you believe the industry should be addressing?