Mitigation

A new International Monetary Fund article urges regulators across the globe to develop comprehensive international standards for digital assets.

With cryptocurrency CEOs testifying before Congress, ICBA called on policymakers to enact a comprehensive, coordinated regulatory approach to digital assets that ensures innovation is undertaken safely.

The Financial Crimes Enforcement Network issued a proposed rule to implement ICBA-advocated beneficial ownership reporting provisions of the Corporate Transparency Act passed in 2020.

The Consumer Financial Protection Bureau should extend its inquiry of the six largest technology companies to all tech firms that participate in payments and financial services or hold consumer data, ICBA said.

The Cybersecurity and Infrastructure Security Agency and FBI issued a cybersecurity reminder for public and private sector organizations to remain vigilant against ransomware and other cyberattacks during the holiday season.

Federal regulators said they plan to provide greater regulatory clarity on crypto-related activities next year, with the OCC issuing an interpretive letter with guidance on digital assets.