The DHS is seeking additional technology solutions to prevent forgery and counterfeiting of certificates and licenses, and issued a new call for proposals.

"DLT and Blockchain solutions can improve the delivery of government services to citizens by providing greater visibility into business operations, enhancing the audit and transparency of public service operations, and automating paper-based processes," the DHS said.

To enable DHS components to issue and verify identifiers and credentials, this solicitation is seeking start-up companies with solutions that use global, interoperable standards for decentralized identifiers and resilient registries. The overall goal is to enhance security while employing privacy respecting mechanisms that implement standards-based, multi-platform interoperability.

Applicants are expected to use one or more of following DHS-specific scenarios to frame their submissions:

• Alternative Identifier to the Social Security Number (PRIV).
• Food Supply Chain Safety and Visibility (CBP).
• Supply Chain Traceability of Natural Gas Imports (CBP).
• Supply Chain Traceability of Direct-to-Consumer E-Commerce Shipments (CBP).
• Privacy Respecting Essential Work and/or Task License (USCIS).

The deadline for applications is 10 July 2020.

The letter said:

"We thus strongly encourage the Treasury Department to utilize private sector innovations such as blockchain and DLT to support the necessary functions of government to distribute and track relief programs and direct that all guidance support the use of technology to facilitate delivery of CARES Act benefits. Such steps will ensure both that America retains its technological advantage and that relief is delivered quickly to the small businesses and individuals who need it most."

One of the key findings of the report is that a large majority of investors are aware of cryptocurrencies (85%). Nearly one in five (18%) are considering investing in ryptocurrencies, and 12% are already invested. While awareness is consistent across age groups and portfolio values, younger investors (ages 18 to 34) and those with portfolios of less than $50,000 are much more likely than average to consider cryptocurrency investments and invest in them.

In a speech at the Fintech Forward conference, Chairman Heath T. Tarbert said that LabCFTC will now be making its own way and report directly to him.

Established in 2017 within the Office of General Counsel under then Chairman Christopher Giancarlo, LabCFTC was designed to be the focal point for the agency to engage with the FinTech community and promote responsible innovation, the Chairman said.

He added:

“Blockchain, digital assets, and other developments hold great promise for our economy. Now is the time for LabCFTC to play an even greater role as we work to develop and write the rules for these transformative new products. That reality requires engagement at the highest levels within the CFTC, which is why I am elevating LabCFTC to be an independent operating office of the agency and a direct report to me.”

LabCFTC is currently led by Melissa Netram, who previously served as a policy and regulatory affairs executive at Silicon Valley-based Intuit.

Netram said:

“Progress depends on how well regulators respond to financial innovation. LabCFTC is at the forefront of exploring and examining the value of innovation in our financial markets and making our agency accessible to fintech innovators. I’m excited to be a part of the agency and believe the elevation of the office speaks to the value and commitment the Chairman is placing on fostering innovation at the CFTC.”

Also at the conference, LabCFTC released a primer on artificial intelligence in financial markets, as an educational tool for market participants, consumers, and the public.

“AI’s power to analyze vast pools of data to detect patterns and generate insights presents great opportunities to enhance the integrity of our derivatives markets,” added Netram.