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NewsBriefs

This article contains excerpts from news stories recently posted under Breaking Industry News on "The emerging crypto-asset sector
our homepage. For links to these and other full news stories, please visit www.greensheet.com/ presents potential opportunities
breakingnews.php. to banking organizations, their
customers, and the overall financial
system; however, crypto-asset-
related activities may pose risks
related to safety and soundness,
consumer protection, and financial
Employees to take helm at DigiPay stability," Fed representatives wrote.
Scott Talbott, senior vice president,
DigiPay Solutions Inc., an independent payment provider, stated it will transfer government affairs at the Electronic
company ownership to present and future employees. The company's co- Transactions Association, stated,
founders, Mike Ackerman, CEO, and Sandy Travers, COO, said the time is right "We applaud the Fed for providing
for new leaders to drive the company's deep relationships and technology suite some much-needed guidance on
of next-generation solutions. "We believe shared ownership will continue our incorporating crypto into the existing
people-first tradition, which will result in the continued success of not only our payments landscape."
existing company, but the new one," Ackerman said. Travers agreed, stating,
"At all levels of the company, customers will be working with an employee Visa tokens reach milestone
owner who is invested in the success of the company and the quality of service
DigiPay Solutions has been built on and known to deliver." Visa announced it has now issued
more than 4 billion network tokens
Fed expands cryptocurrency oversight worldwide through its Visa Token
Services, nearly doubling the total
The Board of Governors of the Federal Reserve System advised banks within its count in one year and exceeding
jurisdiction to notify their Federal Reserve supervisors before engaging in any the total number of plastic Visa
crypto-asset-related activity to ensure such activity is legally permissible and cards in circulation. Visa describes
determine whether any filings are required under applicable federal or state laws. tokens as "the unsung heroes of
ecommerce," benefiting all parties to
these transactions through reduced
fraud, reduced friction and ease of
use across devices. Its analysis shows
that across more than 8,500 card
issuers and 800,000 merchants, Visa
tokens have led to a 28 percent drop
in fraud rates and a 3 percent increase
in approval rates.

Cannabis stakeholders, regulators
reassess cashless ATMs

Card brands and cannabis industry
regulators are warning cannabis, CBD
and hemp industry stakeholders to
cease and desist cashless ATM usage.
The practice, also known as point of
banking (POB), involves repurposing
countertop POS terminals into
makeshift ATMs to disguise
cannabis-related transactions as
ATM withdrawals, according to
industry experts. A March 4, 2022
post in FINCANN, titled "Are
Cashless ATMs The Next Target of
Federal Enforcement?" referenced
legal action against Jim Patterson, the
CEO of California-based cannabis
delivery service Ease Technologies
Inc., who pleaded guilty to charges of
conspiracy to commit bank fraud.

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