ABA today thanked members of the Senate Judiciary Committee for introducing the Botnet Prevention Act of 2016 (S. 2931), which would enhance the Department of Justice’s efforts to combat cyber threats, including distributed denial of service and other botnet attacks. The bill would expand the DOJ’s authority to issue injunctions, providing courts with greater discretion to impose tougher penalties on cybercriminals using botnets to cripple critical networks. ABA’s letter was sent in advance of a hearing tomorrow during which the committee will discuss the threats posed by ransomware and explore possible solutions.
Banking agencies release FAQ on capital treatment of tokenized securities
Financial institutions should treat an eligible tokenized security in the same manner as the non-tokenized form of the security under the capital rule, the Federal Reserve, FDIC and OCC said in a new FAQ.









