About the Center- Recent Activities

 

 

ABOUT THE CENTER

The Center's goal is to promote and facilitate an exploration of how financial regulation must be modernized to support financial stability, consumer protection, and secure financial networks.

 

The Center is an independent Virginia nonprofit corporation. The Center will apply to the Internal Revenue Service for tax-exempt status as a private operating foundation under Section 501(c)(3) of the Internal Revenue Code.

 

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The Financial Technology & Cybersecurity Center &

The Growing Cybersecurity Threat

 

Executive Director Thomas P. Vartanian discusses the role of the Center and how it plans to promote sound public policy with regard to the growing number of financial infrastructure cybersecurity threats in this 30-minute podcast interview.

 

https://www.amlrightsource.com/news/a-discussion-with-tom-vartanian?utm_medium=email&_hsmi=218202781&_hsenc=p2ANqtz-_hnu1amRH5b2b_1oFb0_w3wDXguXvUIMK8r28QCWRJQ2CTdH8KO6apXZB5JmLqR8Zf3UEaQZ1bAJH0QBOwR02tN1qWXw&utm_content=218202781&utm_source=hs_email

 

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Recent Center Activities:

 

Webinars

 

April 27, 2022

 

"THE IMPACT OF STABLECOINS ON FINANCIAL REGULATION, CONSUMERS AND POLITICS"

 

An Executive Roundtable discussion moderated by Financial Technology & Cybersecurity Center (FTCC) Executive Director Thomas P. Vartanian and Conference on Consumer Finance Law (CCFL) Chairman James M. Milano with distinguished guests:

 

  • Brian P. Brooks, CEO, Bitfury, former Acting Comptroller of the Currency
  • Jelena McWilliams, former FDIC Chair
  • Randal K. Quarles, Chairman, The Cynosure Group, former Vice Chairman for Supervision, Federal Reserve Board

Join the nearly 700 registrants of this program and watch it here:

 

https://us06web.zoom.us/rec/share/N_LqMti-KnJ6GrOox6bhDVZWCKmEgJXBo_v0GH_ALlIqNwC_G3CtuDiQ-EXCQysv.Og4NBY0HD5cXB6_X

 

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Financial Technology & Cybersecurity Statements

 

March 9, 2022

The Center's Executive Director issued a Statement on the White House Executive Order Regarding Digital Assets --

STATEMENT OF

Thomas P Vartanian, Executive Director

March 9, 2022

 

Comments on Today's

White House Executive Order on Crypto

See: https://www.whitehouse.gov/briefing-room/presidential-actions/2022/03/09/executive-order-on-ensuring-responsible-development-of-digital-assets/

 

Cryptocurrencies are the modern-day equivalency of the money market funds of the 1980s, which both revolutionized and destabilized financial markets.  We would have hoped the government learned its lesson in how to regulate such new financial products.

 

Although much anticipated, the Executive Order does not pack any substantive punch and adds very little. It adheres to the long-standing approach over the last twenty-five years of directing some two dozen different agencies to coordinate action and require the creation of dozens of reports.

 

While no fault of the Biden Administration, the admonitions in the Order are fourteen years too late in trying to bring rationality, security, and stability to an unregulated industry that is actually more than $10 trillion in size when derivative cryptocurrency instruments and leverage are included.

 

The Order continues to miss the fundamental point that crypto-assets – including Central Bank Digital Currencies (CBDC) - require security which will never be achieved  unless we build a new Internet that favors enhanced authentication, identification, governance, and enforcement of standardized rules..

 

To the extent that administrations and Congress continue to be incapable of confronting the fundamental issues posed by crypto-assets and balancing them with the need for technological innovation, it leaves to the financial regulators the job of reasserting American leadership as the Order seeks to achieve.

 

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Other Financial Technology & Cybersecurity Center Activities

 

August 3-4, 2022

Executive Director Thomas P. Vartanian spoke on

 

Dark Data & Cybersecurity

Federal Reserve Bank of Philadelphia

Sixth Annual Fintech Conference

"The Dark Side of Fintech"

 https://web.cvent.com/event/6ffcfe28-ed18-4f26-9abb-e339a48e7825/summary

 

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Listen to these interviews in July 2022

with Executive Director Thomas P. Vartanian about the U.S. economy:

 

The WealthFormula:

A Conversation with Executive Director Thomas P. Vartanian about

200 Years of American Financial Panics: Crashes, Recessions, Depressions And The Technology That Will Change It All

https://www.wealthformula.com/podcast/326-200-years-of-financial-panics/

 

and

 

The Next Financial Bust:

A Conversation with Executive Director Thomas P. Vartanian

https://thecashflowacademy.libsyn.com/the-next-financial-bust

 

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September 2, 2022

Executive Director Thomas P. Vartanian & former FDIC Chairman William M. Isaac Op-Ed in The Hill

 

Biden’s student loan bailout and the death of skin in the game

https://thehill.com/opinion/finance/3625025-bidens-student-loan-bailout-and-the-death-of-skin-in-the-game/

 

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August 19, 2022

Executive Director Thomas P. Vartanian Op-Ed in The Hill

 

What’s our plan to stop China’s acquisition of America?

https://thehill.com/opinion/national-security/3608115-whats-our-plan-to-stop-chinas-acquisition-of-america/

 

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July 21, 2022

Executive Director Thomas P. Vartanian Op-Ed in The Hill:

 

Blinded by the light: 7 red flags about cryptocurrencies we completely missed

            https://thehill.com/opinion/finance/3569047-blinded-by-the-light-7-red-flags-about-cryptocurrencies-that-we-completely-missed/

 

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July 1, 2022

Executive Director Thomas P. Vartanian & former SIPC President & CEO Stephen P. Harbeck Op-Ed in The Hill:

 

This crypto winter is warm compared to the next one

https://thehill.com/opinion/finance/3544051-this-crypto-winter-is-warm-compared-to-the-next-one/

 

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June 30, 2022

An article by Executive Director Thomas P. Vartanian with former FDIC Chairman William M. Isaac was published in the Business Observer

 

Time to get smart about financial technology – and how to regulate the $10T industry

https://www.businessobserverfl.com/article/time-to-get-smart-about-financial-technology-and-how-to-regulate-the-dollar10t-market

 

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June 16, 2022

Executive Director Thomas P. Vartanian & former Chairman of the FDIC William M. Isaac Op-Ed in The Hill:

 

Ten economic warning signs policymakers ignored

https://thehill.com/opinion/finance/3525430-ten-economic-warning-signs-policymakers-missed/

 

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May 19, 2022

Thomas P. Vartanian signed his book at Sarasota1Bookstore:

 

200 Years of American Financial Panics: Crashes, Recessions, Depressions And The Technology That Will Change It All

at the

2022 Local Author Book Fair | Bookstore1Sarasota (sarasotabooks.com)

 

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May 17, 2022

    Executive Director Thomas P, Vartanian spoke at the American Enterprise Institute

 

                   A Conversation with Sen. Cynthia Lummis (R-WY): Regulation and the Future of Crypto Assets

                 https://www.aei.org/events/regulation-and-the-future-of-crypto-assets-a-conversation-with-sen-cynthia-lummis-r-wy/

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                        May 17, 2022

Executive Director Thomas P. Vartanian spoke at the Federalist Society

 

                      The Government's Arms Around Cryptocurrency: Hug or                        Stranglehold?

                       https://fedsoc.org/events/the-government-s-arms-around-cryptocurrency-hug-or-stranglehold

                     

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May 13, 2022

Executive Director Thomas P. Vartanian Op-Ed in The Hill

 

Is crypto too cool to question?

https://thehill.com/opinion/finance/3486951-is-crypto-too-cool-to-question/

 

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April 6, 2022

Executive Director Thomas P. Vartanian Op-Ed in the American Banker:

 

"What the president’s crypto order should have said"

https://www.americanbanker.com/opinion/what-the-presidents-crypto-order-should-have-said

 

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April 1, 2022

EXECUTIVE DIRECTOR THOMAS P. VARTANIAN

DELIVERED THE

ANNUAL BLEISCHER ADDRESS

AT

The University of North Carolina School of Law's Center for Banking and Finance

Banking Institute

 

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March 21, 2022

Executive Director Thomas P. Vartanian & former FDIC Chairman William M. Isaac Op-Ed in The Hill

 

From economic sleight of hand to stark reality

https://thehill.com/opinion/finance/599045-from-economic-sleight-of-hand-to-stark-reality?rnd=1647881737

 

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March 10, 2022

Executive Director Thomas P. Vartanian op-ed in The Hill:

 

Strong banks are essential to national security

https://thehill.com/opinion/national-security/597717-strong-banks-are-essential-to-national-security?rnd=1646936669

 

 

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