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Nathan Jones: Executive Order ‘Instills Confidence’ in Crypto Mainstream Acceptance
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Nathan Jones: Executive Order ‘Instills Confidence’ in Crypto Mainstream Acceptance

The “Executive Order on Ensuring Responsible Development of Digital Assets,” released on March 9 by President Biden, made a case for the United States’ government and financial institutions to take seriously the recent and robust proliferation of digital currency. Nathan Jones, senior vice president and general manager of worldwide public sector sales and government affairs at TaxBit, has shared his thoughts on the executive order and its implications for the finance and government contracting landscape.

“The EO will be a tool that helps enable widespread cryptocurrency understanding and adoption while instilling confidence that digital assets will eventually align with traditional regulatory provisions such as broker reporting,” Jones commented.

Biden’s issuance posits a potential way forward for digital assets and the attendant distributed ledger technology into mainstream acceptance and policy but it did not codify any digital currency-related practices into law. It is, after all, the first piece of literature regarding digital assets put forward by the federal government.

“Although many policymakers historically have been hesitant to adopt digital assets, the EO is a signal that the Biden administration wants the U.S. to embrace digital assets as a source of financial innovation,” Jones said.

The TaxBit SVP also explains that the executive order highlighted the need for digital asset legislature in six categories: consumer and investor protection, financial stability, illicit finance, U.S. authority in the global financial market, financial inclusion and thoughtful innovation.

“The EO is an important step in furthering the adoption of cryptocurrency for consumers, enterprises, and businesses,” Jones remarked decisively.

Additionally, the executive order floated the idea of a U.S. central bank digital currency, as well as forewarned about the environmental costs of cryptocurrency mining, which requires high energy input. If cryptocurrency is brought into the fold on a federal level, Biden is clear that its energy usage — mostly by computers processing the necessary algorithms — must be controlled.

Jones reports that over the next several months, President Biden and his administration plan to work with various agencies to develop policies that mitigate risk and create a responsible pipeline for digital currency activities.

“The balanced whole-of-government approach is setting the tone for the overall strategy of digital asset regulation while accelerating mainstream adoption and bolstering the worldwide crypto ecosystem,” Jones concluded.

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Palo Alto Networks Released Growing Ransomware Threat Report; GovCon Expert Dana Barnes Quoted
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Palo Alto Networks Released Growing Ransomware Threat Report; GovCon Expert Dana Barnes Quoted

Palo Alto Networks announced the release of Unit 42’s, an elite team of security consultants within the company that creates an intelligence-driven, response-ready organization, recent ‘The Growing Ransomware Threat: 4 Trends and Insights’ report.

“As a result, ransomware has become one of the top threats in cybersecurity and a focus area for Palo Alto Networks,” said Ryan Olsen, vice president of Threat Intelligence with Unit 42, Palo Alto Networks. “This report provides the latest insights on established and emerging ransomware groups, payment trends, and security best practices. I hope these insights will help you to better understand and manage the threats to your organizations.”

Unit 42 complied the 2022 Ransomware Threat Report to help put all this ransomware activity into context and offer a better understanding of the scope of the ransomware landscape and where the future is headed.

According to the report, the average number of ransomware cases climbed 144 percent to $2.2 million use cases in 2021. Simultaneously, there was an 85 percent increase in the number of victims who had their names and other details posted publicly on dark web “leak sites” as well.

“Always impressed with the knowledge that comes out of our Unit 42 by Palo Alto Networks team,” said GovCon Expert Dana Barnes, who is also a 2022 Wash100 Award recipient. “Staying ahead of the curve with the consistently rising ransomware attacks from threat actors is crucial. The experts with Unit 42 maintain a forward-focus posture, securing our customers (and our customer’s customers) for the long run.”

Who do you see as THE executive who exemplifies the best of the GovCon community? 

It’s not too late for your favorite executives to climb the ladder before the April 30th deadline, but they need your votes and support now! As a key member of the GovCon community, we need you to cast your TEN votes before Saturday to recognize the accomplishments of the most significant federal leaders of consequence who will mak the greatest impact in the year to come.

Visit Wash100.com to cast your ten votes in the 2022 Wash100 Vote Standings!

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ASRC Federal Data Network Technologies Awarded TSA ‘DISCOVER’ Data Security Contract; Carlo Uchello Quoted
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ASRC Federal Data Network Technologies Awarded TSA ‘DISCOVER’ Data Security Contract; Carlo Uchello Quoted

ASRC Federal Data Network Technologies announced on Friday that the subsidiary has been awarded the Dynamic Integrated Secure Connectivity for Operational Value and End Point Resiliency (DISCOVER) contract from the Transportation Security Administration. 

“We are excited to partner with the TSA to improve the nation’s transportation systems and advance their important mission,” said Carlo Uchello, ASRC Federal Civilian & Health group president. 

Through the DISCOVER contract, ASRC Federal Data Network Technologies will support the advancement of TSA’s Security Technology Integrated Program (STIP) by helping to evolve the STIP application suite and meet the demands of end-users and fielded security equipment. 

The DISCOVER team will also execute the technical tasks necessary for STIP’s migration to geographically distributed data centers. The contract is valued at approximately $17 million and has a base period of one year, followed by three one-year option periods.

“ASRC Federal brings the institutional knowledge and technical expertise needed to enhance this complex security environment by creating efficiencies at checkpoints and improving agility,” Uchella added. 

DISCOVER is the system that integrates TSA screening equipment to automate data collection and management, improve security agility, and increase operational efficiency. 

About ASRC Federal

ASRC Federal’s family of companies delivers successful mission outcomes and elevated performance for federal civilian, defense and intelligence agencies while building an enduring enterprise focused on customers, employees, and shareholders. 

4 Basic Requirements for Government Contracts
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4 Basic Requirements for Government Contracts & How to Be a Contractor
Photo by Ground Picture / Shutterstock

Government procurement is fiercely competitive as the government awards the most qualified companies to provide cost-effective products and services. With the Buy American Act in place, the U.S. government’s purchasing decisions are limited to American suppliers.

So, new and aspiring government contractors must know the basic federal government requirements to navigate the landscape effectively. Learn about the basic requirements for government contracts to kickstart your business

What Are the Basic Requirements for Government Contracts?

What Are the Basic Requirements for Government Contracts
Photo by Cagkan Sayin / Shutterstock

Unlike commercial contracts that are governed by Uniform Commercial Code (UCC), government contracts comply with strict rules and regulations under the Federal Acquisition Regulation (FAR) and Federal Acquisition Streamlining Act (FASA).

Further, government contractors deal with federal agencies, while commercial contractors deal with private businesses.

 

4 Basic federal contractor requirements set by the Small Business Administration (SBA)

 

Register Your Business and Obtain ID Numbers

The Unique Entity Identifier is a unique alphanumeric identifier consisting of 12 characters required before bidding on a government proposal. You will get one assigned to you after registering with SAM. Before, businesses had to obtain their nine-digit DUNS number from a third-party website. In April 2022, the UEI replaced the DUNS number as the primary identification for federal awards to make it easier for entities to contract with the government.

In addition to the UEID, you must identify your North American Industry Classification System (NAICS) code to match it with your products or services. Entities may either have one to multiple codes applicable to their diverse offerings. Note that these codes often undergo revisions. You can check the latest information in the U.S. Census Bureau’s history section.

 

Meet Size Standards

Businesses must meet the SBA’s size standards to be qualified for contracts set aside for small businesses. The size standards include the number of employees, affiliates, and average annual receipts (AUR). Manufacturing firms with 500 employees or less and non-manufacturing entities with AUR of $7.5 million are considered small.

However, as per Title 13 Part 121.201 of the Code of Federal Regulations (CFR), exceptions vary for every industry. You can refer to the SBA’s Size Standards tool to determine if your business qualifies as small for government contracting.

Some small business programs you can be eligible for are the following:

      • Small Business Innovation Research (SBIR) program
      • Small Business Technology Transfer (STTR) program
      • Service-Disabled Veteran-Owned Small Business (SDVOSB) program
      • Historically Underutilized Business Zone (HUBZone) program
      • Women-Owned Small Business (WOSB) and Economically Disadvantaged Women-Owned Small Business (EDWOSB) programs

 

 Accomplish SAM Registration

SAM registration is important for small businesses because it helps them to expand their market share in the competitive market. This serves as the first step in engaging with the U.S. government. Think of your SAM profile as a résumé.

Provide accurate information and make it appealing with descriptive terms about your business to attract contracting officers and military and civilian government agencies. SAM registration is free. If rejected, you will receive a letter containing the reasons and instructions to resolve the issue. You can also get help from PTAC counselors.

 

Pass the Cybersecurity Standards

Small businesses like technology and cybersecurity firms, engineering companies, and aerospace and defense manufacturers who want to secure contracts from the U.S. Department of Defense (DOD) must prove their ability to handle sensitive information and secure their systems.

The defense department requests for a proposal have a specified level of Cybersecurity Maturity Model Certification, which can be determined as outlined in the request for information (RFI) or request for proposal (RFP).

As a starting point, entities must have at least a level 1 (foundational) CMCC certification. This was first introduced in January 2020 by the DOD and underwent significant revisions based on evaluations and feedback. In November 2021, the DOD released CMMC 2.0 to outline the significant changes to the CMMC program.

 

How to become a government contractor?

 

How to Become a Government Contractor
Photo by Ambient Ideas / Shutterstock

Before diving into becoming a government contractor, it’s essential to understand some of the basics of federal contractor requirements.

Establish a Business

The first step to starting a government contracting business is to contact your state government agency that handles corporate filings, often the secretary of state’s office or the business department. Ask for guidance from reliable business or legal advisors for valuable information regarding the different organizational structures suitable for you, such as sole proprietorship, corporation, or limited liability company.

After deciding which business type, complete the necessary documents for a local occupational license and ask an insurance agent for advice on liability policies and bonding. Then, research on how to do a business plan. The SBA provides support and resources, and universities with business schools have business incubators for entrepreneurs targeting to do business with federal agencies.

Determine What to Sell

Market research is one of the first steps before selling to the government. Utilize the online resources to determine if there is a demand for your offerings in the government sector. Only bid on products and services within your scope of work. Targeting the government market is advantageous because of the accessibility of data on federal contract awards. The Federal Procurement Data System contains contract details previously awarded to help you identify potential opportunities for your business.

Research for Contract Opportunities

Given that you are already registered as one of the federal contractors with SAM, obtained a UEID, and determined your NAICS codes, research the government opportunities that fit in your industry and look for relevant agencies. Introduce your business to procurement specialists and key personnel within such agencies to familiarize them with your company before submitting a proposal. You can find a list of agencies and their contact details at USA.gov

Use search filters for opportunities on websites such as SAM.gov, SubNet, and Dynamic Small Business Search. Filter results by posted dates and keywords and have someone check new listings weekly. You wouldn’t want to come across a perfect RFP due the next day.

Contact a Small Business Specialist

Small business specialists assist small business enterprises (SMEs) with their procurement activities by instructing how businesses should engage with federal agencies, including the requirements. They guide SMEs on set-aside programs and other accessible resources. On the other hand, larger government contractors must build connections with contracting officers and program managers to secure contracts and deliver products and services within time and budget.

Consider Subcontracting

Consider applying as a subcontractor for larger companies with a prime federal contract if your business isn’t fully prepared for direct government contracting. Build relationships with prime contractors looking for joint ventures. Subcontracting is easier as it provides references for future prime contracts and past performance. The Small Business Administration’s SubNet is a great resource for finding subcontracting opportunities.

Build a Network

Networking for federal contractors can be helpful if you want to expand your business in the government marketplace. Build relationships not only with federal agencies but also with potential teaming and subcontracting partners. Gather small businesses in your target federal agency and offer complementary products and services. During networking events, make a lasting impression in a short time. Highlight your expertise and demonstrate how your offerings can benefit your desired contractor or agency.

Have Realistic Goals

Start by setting realistic goals if you are new to the government market. It is true that aiming to win five government contracts at once can be ambitious. So, on average, companies submit up to 25 bids before winning their first project. Contract win rates for most government contractors are typically around 20-50%. You can target one or two contracts on your target niche. Working on government projects often requires operational enhancements, so avoid taking on overhead expenses too soon. Therefore, you have to learn the ropes before submitting the basic right requirements for government contracts your company had been pining for.

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Senate Approves Space Acquisition Nominee Frank Calvelli
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Senate Approves Space Acquisition Nominee Frank Calvelli

Frank Calvelli, a senior vice president at Booz Allen Hamilton, has received confirmation from the Senate to serve as assistant secretary of the Air Force for space acquisition.

He was nominated by President Biden in December 2021 and the nomination was approved by U.S. senators through a voice vote Thursday.

At a February confirmation hearing, Calvelli told Senate Armed Services Committee members he believes commercial innovation could help the Department of Defense outpace strategic competitors and that he would prioritize space architecture resilience efforts.

Calvelli has more than 34 years of government service experience that included eight years as principal deputy director at the National Reconnaissance Office before he joined Booz Allen in 2021.

He received the NRO Distinguished Performance Medal and the Presidential Rank Award for Distinguished Service, among other recognitions.

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J5 Unveils Intelligence Bulletin to Warn of Risks Linked to Non-Fungible Tokens
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J5 Unveils Intelligence Bulletin to Warn of Risks Linked to Non-Fungible Tokens

The Joint Chiefs of Global Tax Enforcement has issued a bulletin to warn financial institutions, law enforcement employees and citizens of risks associated with non-fungible tokens.

The J5 NFT Marketplace Red Flag Indicators document also lists several best practices adopted by J5 countries when it comes to NFTs, the Internal Revenue Service said Thursday.

“This paper provides a suite of indicators that financial institutions can reference to help them identify illicit financial activity concerning NFTs. It’s intended to be the first of many that can be used by financial institutions to assist in the fight against tax crime and money laundering involving virtual assets,” said Will Day, chief of J5 and deputy commissioner at the Australian Taxation Office.

“This report is a unique and progressive initiative and the J5 looks forward to working closer with the virtual assets industry to meet the rapidly evolving and highly complex environment which we share,” added Day.

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US, Global Partners Announce Declaration for the Future of the Internet
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US, Global Partners Announce Declaration for the Future of the Internet

The U.S. and 60 international partners unveiled a declaration aimed at pursuing a positive vision for the internet and digital technologies. 

The principles of the Declaration for the Future of the Internet include commitments to safeguarding human rights and fundamental freedoms of all people; promoting a global internet that advances the free flow of information; advancing affordable and inclusive connectivity in order for people to benefit from the digital economy, the White House said Thursday.

Other commitments are promoting trust in the global digital ecosystem and strengthening the multistakeholder approach to governance to facilitate the operations of the internet.

The declaration also reaffirms a single internet worldwide that advances privacy and fosters competition.

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Lawmakers Urge House Panel to Address Funding for National Defense Stockpile
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Lawmakers Urge House Panel to Address Funding for National Defense Stockpile

A group of lawmakers headed by Reps. Scott Franklin, R-Fla., and Seth Moulton, D-Mass., called on the House Appropriations Committee to include funding for the National Defense Stockpile of rare earth materials.

The lawmakers wrote a letter to the House panel’s leadership urging them to back the president’s fiscal year 2023 budget request that seeks to include an additional $254 million for the NDS transaction fund, Franklin’s office said Wednesday.

The Defense Logistics Agency – Strategic Materials oversees NDS, which ensures that the Department of Defense has access to titanium, aluminum, tungsten, cobalt, rubber and other key materials to maintain military readiness in the event of a major disruption to supply chains.

According to the letter, the total value of the stockpiled inventory fell from $9.6 billion in 1989 to $888 million in 2021.

The letter was also signed by Reps. Tim Burchett, R-Tenn.; Greg Pence, R-Ind.; Doug Lamborn, R-Colo.; Madison Cawthorn, R-N.C.; Liz Cheney, R-Wyo.; and Michael Waltz, R-Fla.

GSA Seeks Info on Construction Sector Equity Practices
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GSA Seeks Info on Construction Sector Equity Practices

The General Services Administration has requested information from the private sector on resources and opportunities to promote diversity, equity, inclusion and accessibility in federal construction projects.

GSA on Thursday released DEIA RFIs for companies that design and build facilities as part of the agency’s commitment to implement its Equity Action Plan.

“The public and private sectors should be learning more from each other about what is catalyzing DEIA actions – and what’s actually working – to impact positive change in industries like design and construction,” said Charles Hardy, acting chief architect at GSA’s Public Buildings Service.

Specifically, the agency seeks to understand how DEIA programs could affect underserved or disadvantaged business groups and what practices or processes would support DEIA outcomes across contracting opportunities.

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GovCon Expert Chuck Brooks: Public, Private Sector Partnerships Addressing COVID-19 Are A Cybersecurity Model
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GovCon Expert Chuck Brooks: Public, Private Sector Partnerships Addressing COVID-19 Are A Cybersecurity Model

Chuck Brooks, a highly esteemed cybersecurity leader as well as an influential member of Executive Mosaic’s GovCon Expert program, recently published a recent feature in the fifth edition of the Security & Tech Insights newsletter.

In the feature story, GovCon Expert Chuck Brooks explored the implications and significant challenges of cybersecuring the Internet of Things. In addition, he also revealed how partnerships in the public and private sectors can provide a model for the federal government’s implementation of cybersecurity standards.

Here’s a snippet from the feature from GovCon Expert Chuck Brooks:

“A higher level of public-private collaboration is needed to address the growing cyber-threat landscape through Public-Private Partnerships,” Brooks explained. “The global threat actors targeting critical infrastructure are terrorists, criminals, hackers, organized crime, malicious individuals, and, in some cases, adversarial nation-states.

Addressing the threats requires incorporating a robust calculated security strategy of public and private sector partnering based on layered vigilance and protections, readiness and resilience.”

You can read the full article from GovCon Expert Chuck Brooks on LinkedIn.

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