Banks uneasy about crypto firms' access to Fed systems

Banks uneasy about crypto firms' access to Fed systems | Digital asset identifiers to launch in Sept. | Embedded banking could bring in billions by 2025 Created for {EMAIL} | [Web Version]( September 1, 2021 [SIGN UP]( ⋅ [SHARE]( [] Risk Management and Insurance [] [Banks uneasy about crypto firms' access to Fed systems]( Trade groups representing the banking sector have expressed concerns over requests from cryptocurrency entities such as Avanti and Kraken to be given direct access to the Federal Reserve's payments systems. The groups point out that such firms are lightly regulated, uninsured by the Federal Deposit Insurance Corp., and could "pose heightened risks regarding matters of anti-money-laundering, cybersecurity and consumer protection, as well as safety and soundness." Full Story: [The Wall Street Journal]( (8/28) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] [Digital asset identifiers to launch in Sept.]( Digital token identifiers registered at the DTI Foundation are set to be launched in September based on standards established by the global International Organization for Standardization. The DTIs will be issued for the 100 most important cryptoassets, which should make it easier for participants to compare exchange prices. Full Story: [Reuters]( (8/25) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [Embedded banking could bring in billions by 2025]( American Banker (8/30) [] - [Study shows crypto investors are mainly male]( CNBC (8/30) [] Cybersecurity [] [6 ways to "fortify the human firewall" in enterprises]( Three writers from the Harvard Business Review offer six tips to "fortify the human firewall against the deceptive techniques of criminals," starting with asking employees to sign a security policy. Another tip: Lead by example, because "[s]enior leaders need to prove their expertise and educated understanding of information security issues to effectively enforce their instructions and mandates." Full Story: [Harvard Business Review (tiered subscription model)]( (8/30) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] Government Regulation [] [Experts: Crypto over regulation threatens US innovation]( Proposed measures to regulate the cryptocurrency industry contained in the bipartisan infrastructure bill that passed the Senate could force illicit cryptocurrency transactions to where the US has no jurisdiction, experts say. The potential over regulation would also send innovation development overseas and "the US will really get left behind, and that is the threat here," says former Treasury Department undersecretary for terrorism and financial intelligence Sigal Mandelker. Full Story: [Financial News (UK) (tiered subscription model)]( (8/26) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [Regulators issue guide for partnering with fintechs]( American Banker (8/27) [] - [Experts outline key provisions of SAFE Banking Act]( The National Law Review (8/25) [] Innovation [] [El Salvador steps into the unknown with crypto adoption]( El Salvador steps into the unknown with crypto adoption (Michael M. Santiago/Getty Images) El Salvador is set to become the first country to adopt bitcoin as a national currency as of Sept. 7. But former El Salvador central bank governor Carlos Acevedo says that with the shifting value of cryptoassets, "[a]dopting bitcoin as legal tender puts us on a roller coaster." 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