Monthly Archives: July 2022

What is happening? The National Credit Union Administration is proposing a 72 hour reporting requirement for cyber incidents at credit unions. Why is this important? It places Credit Unions on par with critical infrastructure in reporting cyber incidents. How will this be important? The credit union regulator calls this 72 hour standard the prudent action. […]

What is happening? Congress is working on a federal semi conductor bill to promote US manufacturing of semi conductors. The US Senate approved  $54.2 billion in subsidies to expand semiconductor production and other technology initiatives. Why is this important? Samsung announced its $17 billion semi conductor manufacturing facilities in Taylor Texas could expand to  $192 […]

What is happening? The FCC Chair is proposing increasing the national broadband standard to 100 megabits per second for download and 20 Mbps for upload – the current standard of 25 Mbps upload and 3 Mbps download speed standard was set in 2015. Why is this important? COVID has states in the process of rolling […]

What is happening? Wyoming’s SF0038 (2021 | WY) created the legal framework for a new corporate structure known as decentralized autonomous organizations (DAO). Vermont and Tennessee are making similar rules. Why is this important? DAOS are now worth $21 Billion. The company functions like this: it is web based any investor has voting rights based on […]

What is happening?  Jon Cunliffe, Bank of England’s deputy governor for financial stability calls for crypto regulations Why is this important? He said, “technology can change the way risks are managed and distributed, it cannot eliminate them” How will this be important? Innovators, alongside regulators and other public authorities, have an interest in the development […]

What is happening? Pennsylvania Governor has signed HB 2142 (2022 | PA) that would utilize National Guard to help train local governments on cyber security prevention. Why is this important? The author says the bill affords the “Pennsylvania National Guard the ability and authority to provide functional support for cybersecurity across the commonwealth and it […]

What is happening? States are investigating crypto lenders as multiple cyrpto lenders have suspended transactions. California  Department of Financial Protection and Innovation is taking the lead for the state. Why is this important? Issues that will be investigated include whether customers were made aware of the potential risks How will this be important? In recent months […]

What is happening? 23 states have Cyber Task Forces created by Executive Order. 7 States have legislatively created cyber task forces. Why is this important? A commonality among the recommendations: centralization How will this be important? Governments aren’t just open to ransomware but also to open source software vulnerabilities, phishing emails, outdated legacy code  Governing […]

What is happening? Vauld froze transactions after  users pulled almost $200 million over the last three weeks Why is this important? It is on the heels of Voyager Digital suspending transactions, Celsius Network LLC paused transactions, and Crypto hedge fund Three Arrows Capital Ltd has been ordered to liquidate How will this be important? Regulation, […]

What is happening? A federal policy maker suggested digital passports for cryptocurrency would make ransomware less likely. Why is this important? The crypto ID proposal would have a biometric element to make hackers and ransomeware less lucrative. How will this be important? regulators will look to keep digital privacy while insuring greater identity requirements for […]