Mitigation

The collapse of the FTX cryptocurrency exchange is a predictable example of the serious risks that digital assets pose, and policymakers should ensure new policies directed at the sector fully reflect its risks, ICBA President and CEO Rebeca Romero Rainey wrote in a new op-ed.

Federal regulators are reportedly investigating cryptocurrency exchange FTX amid concerns of a liquidity crisis at the company and fallout on the rest of the crypto sector.

Up to 20% of terrorist attacks are financed by crypto-assets or otherwise linked to digital assets, a United Nations official told Bloomberg. The UN’s Svetlana Martynova said officials are detecting more cases of crypto use in terror-financing as they step up their scrutiny of such practices.

The decision to bring the highly successful ThinkTECH Accelerator program in-house and introduce year-round programming was the natural progression in ICBA’s efforts to cultivate successful community bank-fintech partnerships that address today’s market challenges and opportunities, writes Charles Potts in a new blog post.

Acting Comptroller of the Currency Michael Hsu warned of risks posed by crypto-assets and laid out some of his priorities for bringing them within the regulatory perimeter.

Uber’s former chief security officer was convicted of failing to disclose a 2016 data breach in the first criminal prosecution of an executive related to the handling of a breach.