WASHINGTON, D.C (May 5, 2025) |
The Defense Credit Union Council (DCUC) has sent a letter to the House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion in response to tomorrow’s hearing on next-generation digital asset infrastructure.
DCUC commended the Subcommittee’s leadership in exploring tokenization and its potential to modernize financial markets. In the letter, DCUC stressed the need for regulatory clarity, consumer safeguards, and the inclusion of credit unions in shaping digital asset policy.
ason Stverak, DCUC’s Chief Advocacy Officer wrote how DCUC takes a pragmatic approach to digital assets—not endorsing specific platforms, but focusing on the financial readiness and protection of military members. “Credit unions must be included in the conversation to ensure innovation does not come at the cost of consumer safety or national security.”
DCUC outlined four key priorities for Congress as it considers digital asset legislation:
Credit unions currently face a fragmented regulatory environment, particularly with limited guidance from the National Credit Union Administration (NCUA). DCUC asked Congress to promote consistent, harmonized rules that allow credit unions to adopt digital tools responsibly.
Given the vulnerability of military families to financial scams, DCUC called for strong consumer safeguards, including anti-fraud and AML standards, along with targeted financial education on digital assets.
DCUC stressed that financial readiness directly impacts military readiness. Poorly regulated digital assets could introduce systemic risks, while thoughtful oversight could enhance financial efficiency for deployed personnel and their families.
DCUC also urged the Subcommittee to ensure credit unions have a seat at the table in policy development, pilot programs, and advisory efforts related to digital assets; equal access is essential for ensuring a diverse and competitive financial system.
DCUC’s recommendations echo earlier communications to Congress and align with bipartisan efforts to responsibly advance the digital asset economy. Stverak shared how DCUC reaffirms
its readiness to support policymakers in crafting a regulatory framework that protects consumers, fosters innovation, and supports the unique needs of the military community.
For more information, please contact Jason Stverak at jstverak@dcuc.org and visit dcuc.org/advocacy.