; (2) that digital assets and digital asset securities are not deposits or shares and are not covered by Federal deposit insurance (FDIC or NCUA), regardless of whether an insured bank, savings association, or credit union holds the digital assets or digital assets securities; and (3) such notice shall specifically address whether the FDIC Nondeposit Investment Product (NDIP) Policy Statement and related disclosure obligations or similar NCUA requirements apply to digital assets and digital asset securities. (b) Digital asset In this section, the term digital asset has the meaning given the term in section 1a of the Commodity Exchange Act ( 7 U.S.C. 1a ). (c) Digital asset security In this section, the term digital asset security has the meaning given the term in section 3(a) of the Securities Exchange Act of 1934 (15 U.S.C. Sec. 78c(a)). IV Bank Secrecy Act 401. Bank Secrecy Act (a) Definition of monetary instruments Section 5312(a)(3)(B) of title 31, United States Code, is amended— (1) by inserting digital assets, after coins and currency of a foreign country, ; and (2) by inserting after passed on delivery , the following: , digital asset security as such term is defined in section 3(a) of the Securities Exchange Act of 1934 . (b) Definition of digital Asset and virtual asset Section 5312(a) of title 31, United States Code, is amended by adding after paragraph (6) the following: (7) Digital Asset The term digital asset has the meaning given the term in section 1a of the Commodity Exchange Act ( 7 U.S.C. 1a ). (8) Virtual asset The term virtual asset means— (A) a digital representation of value that can be digitally traded, or transferred, and can be used for payment or investment purposes