Comment Deadline Extended on Funds-Transfer Proposal
The FRB today extended the comment deadline on its proposed changes to when banks will be required to provide instant funds availability once FedNow (see FSM Report PAYMENT20) is implemented.

Senate Dems Press Treasury for Faster Action on Financial Sector Climate Risk
Taking on a Biden appointee progressives feared might not be sufficiently diligent containing climate risk, Sens. Warren (D-MA), Gillibrand (D-NY), and Van Hollen (D-MA) late yesterday asked Treasury Climate Counselor John Morton for details on how Treasury will implement President Biden’s recent climate order (see FSM Report GREEN8).

Gensler Lays Out Multi-Front Assault on Cryptoassets
Following a scathing statement that cryptoassets are rife with fraud, scams, and abuse in certain applications, SEC Chairman Gensler today confirmed our forecast (see Client Report INVESTOR14) that his knowledge of this sector would lead to a particularly stringent approach to both regulation and enforcement.