In late 2021, the National Credit Union Administration (NCUA) confirmed the right of credit unions “to establish relationships with third-party providers that offer digital asset services to the FICUs’ members” (an FICU is a federally insured credit union).
That announcement meant that credit unions could begin the process of connecting their members to various cryptocurrency providers. And administration vice chair, Kyle Hauptman went so far as to say, “I don’t want credit unions to get the way of Blockbuster Video because we, the regulators, prevented innovation.”
You probably need to be of a certain “vintage” to understand that reference. Let’s say that we can talk about “Netflix and chill” while “Blockbuster and chill” would just generate confused stares.
For that matter, is “Netflix and chill” still a thing? Probably not – post-COVID and all…
And I don’t know about you, but I can still remember a time when Blockbuster had the chance to buy Netflix.
Now look!
Sometimes, the opportunity we don’t take is the one we have to take. Hindsight is 20/20.
Is the same true for cryptocurrency in the years to come?
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