Dawn Stump’s Post

“This major public-private partnership will seek to overcome several structural inefficiencies in how payments happen today…” The BIS will issue a call for expressions of interest to private financial institutions to join Project Agorá.

Important news for critical infrastructure companies, CISA - U.S. Department of Homeland Security - published proposed rule to require reporting “substantial” cyberattacks within 72 hours and ransom payments within 24 hours. This is the first comprehensive rule to apply across critical infrastructure providers and an important tool for federal authorities to assess trends. However, it would be helpful to align with other agencies - the rule differs from other USG obligations such as those of the SEC. Comments due in 60 days.

"For regulated finance, both connectivity and control are required for banks to realize the benefits of tokenization without incurring substantial capital charges – and neither public nor private blockchains meet both criteria." Are public-permissioned blockchain networks the solution to unlocking the potential of tokenization? https://lnkd.in/ebJMmBin A broad array of sophisticated market service providers/participants are exploring such a solution to bridge regulatory needs and market demands: Canton Network, BNY Mellon, The Depository Trust & Clearing Corporation (DTCC), DRW, Cboe Global Markets, State Street, Wellington Management, Goldman Sachs, Paxos ...just to name a few.

This is near where I grew up. The damage is devasting but the human spirit these people embody - their selflessness, their will to unite in the face of adversity, and the hard work they are willing to put into preserving what is right and good - is a lesson our country should heed.

“Reflect on this as a leader. Your actions, your empathy, your ability to make someone feel seen, are what will be remembered. It’s about the legacy of your interactions, not the list of your accomplishments.” • Skip Prichard

Regulatory clarity for spot crypto markets...it’s not political, it’s common sense. As a CFTC Commissioner, I devoted considerable time to addressing public confusion surrounding U.S. regulatory limitations to oversee cash crypto markets (see https://lnkd.in/gAtKregS), and now U.S. Commodity Futures Trading Commission Chair Behnam is setting the course for what's next, - clarity. "The lack of legislation has not hindered the enthusiasm for digital assets. And for those of you who have been fighting for digital assets to go away in the absence of legislation, take a moment and see where we now find ourselves...The need for federal legislation over cash market digital assets has never been more critical..." #cftc #crypto #markets #regulation

Chevron doctrine before the Supreme Court - are you paying attention? Anyone operating in a regulated industry, consuming regulated goods and services, or just living in the U.S. should be interested in this case. Having worked as a regulator and for the regulated, I believe the implications are beyond vast. “Chevron deference” has defined four decades of regulatory application. Is it time to reevaluate? #chevron #regulation https://lnkd.in/g7JNbVWK

ICYMI - Assistant Secretary Graham Steele notes US Treasury’s considerations for federal insurance related to catastrophic cyber events. Whether under the existing TRIP authority or another avenue, this is an area to watch for all engaged in cyber risk…and mark your calendars for Apr 2024, “Treasury will host an additional conference during the week of April 22 exploring in more detail some specific ideas about what form such a federal insurance response to catastrophic cyber risk, and/or a public-private partnership or other collaborative mechanism, might take.” #cyber #insurance