Mastercard, Bakkt partner on crypto payments offering

Fed official: Digital dollar would compete with banks | FSOC climate report signals more reporting from banks | Crypto market reaches all-time high of $2.7T Created for {EMAIL} | [Web Version]( October 27, 2021 [SIGN UP]( ⋅ [SHARE]( [] Risk Management and Insurance [] [Fed official: Digital dollar would compete with banks]( If the US develops a digital dollar, it puts the Federal Reserve in direct competition with banks, said Fed Governor Chris Waller. The decision on whether a central bank digital currency should be created should be up to lawmakers rather than the Fed, Waller said. Full Story: [MarketWatch (tiered subscription model)]( (10/21) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] [FSOC climate report signals more reporting from banks]( The Financial Stability Oversight Council's report on climate change risk to the financial system calls for more disclosures from firms "to help determine exposure to material climate-related financial risks." The report could "lead to the banking agencies requiring banks to collect more data for internal use from corporate clients on their climate change risks," said Jaret Seiberg, a financial policy analyst at Cowen Washington Research Group. Full Story: [American Banker]( (10/24) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [Crypto market reaches all-time high of $2.7T]( BNN Bloomberg (Canada) (10/21) [] - [Bitcoin futures ETFs drive inflows to a record $1.47B]( CoinDesk (UK) (10/25) [] Cybersecurity [] [Don't let collaboration turn into a costly mistake]( Allowing broad access to information in the cloud facilitates cooperation, but it "also makes it easier for one careless password to compromise the whole system," writes Larry Alton of LarryAlton.com. Alton warns against unsanctioned applications outside the purview of the IT department. Full Story: [ISACA]( (10/22) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [Survey: Most CISOs would consider paying ransomware]( Health IT Security (10/21) [] Government Regulation [] [SEC reportedly gets lead role in regulating stablecoins]( The Treasury Department and other federal agencies will say in a report this week the Securities and Exchange Commission has authority to regulate stablecoins, sources say. The report reportedly calls for legislation that requires stablecoins to be regulated in a way similar to bank deposits. Full Story: [BNN Bloomberg (Canada)]( (10/25) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] - [Commentary: The CFTC's shifting crypto regulatory role]( CoinDesk (UK) (10/21) [] Innovation [] [Mastercard, Bakkt partner on crypto payments offering]( Mastercard has formed a partnership with cryptocurrency firm Bakkt that will enable banks and other institutions to issue cards that allow users make payments and earn rewards with bitcoin. Other cryptocurrencies could be added to the offering in the future, the companies said. Full Story: [CNBC]( (10/26), [The Wall Street Journal]( (10/25), [BNN Bloomberg (Canada)]( (10/25), [Fortune (tiered subscription model)]( (10/25) [LinkedIn]( [Twitter]( [Facebook]( [Email]( [] [] It is remarkable how powerful a force simple curiosity can be. Susan Hill, writer [LinkedIn]( [Twitter]( [Facebook]( [Email]( LEARN MORE ABOUT Aon Financial Institutions: [Aon Home Page]( | [Aon Financial Institutions]( [Thought Leadership]( | [Media Room]( About Aon Financial Institutions The Aon Financial Institutions Practice develops risk transfer and consulting solutions for a wide range of businesses including banks, insurance companies, asset managers and diversified investment and finance firms. Our experts draw on deep experience in developing products involving management and professional liability, property and casualty, cyber, operational and enterprise risk management, environmental liability, employee benefits, and transactional solutions. These solutions help clients build a tailored risk management program that empowers results for their organizations. Contact Aon Joel Sulkes Aon Global Financial Institutions Practice Leader t 212-441-2364 joel.sulkes@aon.com [www.aon.com]( [Linkedin]( [Twitter]( About Aon Aon plc (NYSE:AON) is a leading global professional services firm providing a broad range of risk, retirement and health solutions. Our 50,000 colleagues in 120 countries empower results for clients by using proprietary data and analytics to deliver insights that reduce volatility and improve performance. SmartBrief publishes more than 200 free industry newsletters - [Browse our portfolio]( [Unsubscribe]( | [Privacy policy]( CONTACT US: [FEEDBACK](mailto:aonfinancial@smartbrief.com) | [ADVERTISE](mailto:) [Powered By SmartBrief]( SmartBrief, Inc.®, 555 11th ST NW, Suite 600, Washington, DC 20004