Welcome To
The Bottom Line

SRM Perspectives on Key Industry Trends

Larry Pruss

Recent Posts

What Regulators’ Warning on Digital Assets Means for Banks, Credit Unions

Posted by Larry Pruss on Jan 9, 2023 9:31:09 AM

JointStatementReact-Blog-Image

The Federal Reserve, the Federal Deposit Insurance Corp. (FDIC), and the Office of the Comptroller of the Currency (OCC) recently issued a joint statement that expressed the agencies’ concerns with banks that have business dealings tied to digital assets, including cryptocurrency.

Read More

Topics: Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Digital Assets, Blockchain, Crypto, Regulation

Despite Cooling Temperatures, Crypto Is Still Hot

Posted by Larry Pruss on Nov 3, 2022 12:12:19 PM

Crypto-Blog-11.7.2022-Image

Professionals focused on the strategic and operational aspects of digital assets such as cryptocurrency have learned to disregard the media cycles.

Last year’s breathless hype – driven almost entirely by a retail investor frenzy – has given way to a “crypto is dead” storyline that emphasizes volatility and fraudulent applications. Lost in the noise is the fact that Bitcoin’s price has been relatively stable over the past four months.

Read More

Topics: Payments, Vendor Contract Negotiation, Digital Assets, Crypto

Due Diligence Matters with Digital Assets Partnerships

Posted by Larry Pruss on Oct 27, 2022 2:08:28 PM

Vetting-Blog-Image

Federal regulators continue to advise on how banks and credit unions conduct due diligence for digital assets solution providers.

 

A lapse in vetting could expose FIs to an array of risks, ranging from reputational impact to non-compliance with government sanctions and BSA requirements.

Read More

Topics: Fintech, Vendor Contract Negotiation, Bank Vendor Management, Credit Union Vendor Management, Crypto, Regulation

White House Provides More Clarity on Digital Assets

Posted by Larry Pruss on Sep 27, 2022 12:27:26 PM

CBDC-Blog-Image

We're beginning to get some clarity from the White House regarding its approach to digital assets, including the potential development of a Central Bank Digital Currency (CBDC).

With the release of a wide-ranging report, the White House appears to be embracing digital assets and their potential for transparent, cost-efficient, and inclusive financial services. A background press call provided even more insight into the Biden Administration's thinking.

Read More

Topics: Payments, Cryptocurrency, Digital Assets, CBDC, Blockchain, Regulation, Digital Ledger Technology

Education and Trust Matter When Dealing with Digital Assets

Posted by Larry Pruss on Sep 19, 2022 11:24:00 AM

Treasury-Response-Blog-Image[86]

The Biden Administration's March executive order seeking information on digital assets' usage and security set a flurry of activity into motion. This included a mandate for the Treasury Department to deliver a report on the future of money and payments systems. The agency issued a public request for comment in July, and SRM quickly responded, drawing from our detailed and ongoing coverage of cryptocurrency and other digital assets.

You can read our complete submission here; however, the condensed version below highlights the key points we believe every financial institution should consider as policies toward digital assets take shape.    

Read More

Topics: Payments, Cryptocurrency, Digital Assets, Stablecoins, Blockchain, Regulation, Digital Ledger Technology

Are Concerns of Crypto Regulation Overblown?

Posted by Larry Pruss on Apr 6, 2022 2:57:17 PM

Crypto-Regulation-Blog-Image

The Biden Administration’s Executive Order for digital assets observed that one in six adult Americans are involved with cryptocurrency, while other surveys place this figure closer to one in three. At the same time, a solid majority of Americans indicate they’d prefer to conduct crypto dealings through their financial institution.

This seems like a dream scenario for banks and credit unions looking for opportunities to deepen client relationships and pursue new sources of fee income to replace the overdraft/NSF revenue and interchange that is increasingly under threat.

Read More

Topics: Cryptocurrency, Regulations, Cryptocurrency for Banks and Credit Unions, Digital Assets, cryptocurrency consultants

Crypto’s Resiliency Spurs Interest from Financial Institutions

Posted by Larry Pruss on Mar 16, 2022 9:30:00 AM

Crypto-WP-Blog-Image[94]

Standing-room-only crowds during breakout sessions at recent industry conferences nationwide are a strong indicator of financial institutions’ growing interest in cryptocurrency and other digital assets.

Read More

Topics: Vendor Contract Negotiation, Cryptocurrency, Bank Vendor Management, Credit Union Vendor Management, Digital Assets, Blockchain

Executive Order Cements Crypto's Role in Mainstream Banking

Posted by Larry Pruss on Mar 9, 2022 3:45:20 PM

Crypto-Executive-Order-Blog-Image

The Biden Administration issued its anticipated executive order seeking to coordinate efforts among federal agencies to craft a national policy for digital assets.

While some pundits are worried about the impact of regulation, we assert that this effort brings digital assets, including cryptocurrency, into the mainstream, which should be a positive for financial institutions looking to operate in the space. 

Read More

Topics: Vendor Contract Negotiation, Cryptocurrency, Bank Vendor Management, Credit Union Vendor Management, Cryptocurrency for Banks and Credit Unions, Digital Assets, Blockchain

Volatility Shouldn’t Derail Your Crypto Strategy

Posted by Larry Pruss on Feb 22, 2022 9:30:00 AM

Crypto-Blog-Image[57]

Volatility tends to be a two-way street, so the recent price correction in Bitcoin and other cryptocurrencies shouldn’t come as a shock. Still, that doesn’t take the sting out of the size and speed of the recent decline in Bitcoin, which lost more than half its value between mid-November and late January.

Read More

Topics: Vendor Contract Negotiation, Cryptocurrency, Bitcoin, Bank Vendor Management, Credit Union Vendor Management, Digital Assets

Stablecoins Could Enter the Mainstream in 2022

Posted by Larry Pruss on Jan 10, 2022 9:30:00 AM

Stablecoins_Blog_Image[20]

Most of the excitement surrounding cryptocurrency has focused on Bitcoin and similar altcoins. This is understandable, as this asset class accounts for over 95% of the market value assigned to digital currencies and has been responsible for eye-popping returns in recent years.

Read More

Topics: Vendor Contract Negotiation, Cryptocurrency, Bank Vendor Management, Credit Union Vendor Management, DeFi, Stablecoins, CBDC

Content not found

Subscribe to our blog

Recent Posts

Posts by Topic

see all