NEWSLETTER
Thursday / September 29Sep 29
Tuesday / April 5
US crypto regulation
US Securities and Exchange Commission Chair Gary Gensler said Monday that his agency seeks to exercise greater regulatory power over a $2 trillion cryptocurrency market to protect investors from scams.
Gensler said the SEC will work to register and regulate crypto platforms, including the possibility of separating out the custody of assets to minimize risk.
“These crypto platforms play roles similar to those of traditional regulated exchanges,” Gensler said, at the Penn Law Capital Markets Association’s annual conference. “Thus, investors should be protected in the same way.”
Gensler was providing high-level details about his plans to address the crypto market almost a month after President Joe Biden signed an executive order calling on the government to examine the risks and benefits of cryptocurrencies.
The SEC, Gensler said, will partner with the Commodity Futures Trading Commission to address platforms that trade both crypto-based security tokens and commodity tokens, as the SEC currently only oversees those that trade securities.
He said the SEC will look into whether crypto platforms should be treated by his agency more like retail exchanges. Gensler also addressed what the SEC can do in the areas of stablecoins and crypto tokens.
EU sanctions
The European Union was working on a new package of sanctions against Russia that is likely to restrict the leasing of airplanes and the import and export of products like jet fuel, steel products and luxury goods.
However, the bloc remains divided over whether to extend those sanctions to energy imports. Ukraine’s top prosecutor has said 410 bodies had been found in towns recaptured from retreating Russian forces around Kyiv as part of an investigation into possible war crimes.
Two EU officials, who did not want to be named due the sensitive nature of the talks, told US CNBC that a proposal for the next sanctions package includes airplane leasing, steel products, luxury goods and jet fuel. Both sources added that the package is still a work in progress and could change as talks continue in the coming days and ahead of a crucial meeting of EU ambassadors on Wednesday.
One of the officials added that “obviously, there is a big component missing,” in reference to the lack of measures on the Russian energy sector.
Biden on Putin
US President Joe Biden on Monday called for evidence to be gathered to put Russian leader Vladimir Putin on trial for war crimes related to his nation’s invasion of Ukraine.
“This guy is brutal, and what’s happening in Bucha is outrageous and everyone’s seen it,” Biden told reporters, a day after video and still images revealed the town’s streets littered with dead bodies.
“I think it is a war crime. ... He should be held accountable.”
Biden also said he plans to slap additional sanctions on Russia for its conduct during the war.
National Security Advisor Jake Sullivan told reporters at the White House that sanctions would be announced this week.
“Russia will pay a severe price,” Sullivan said. “We have communicated to them directly. We have coordinated with our allies and partners and I’m not going to go for the specifics here.”
Ukrainian President Volodymyr Zelenskyy earlier accused Russian forces of committing genocide, saying that Ukrainians are being “destroyed and exterminated.”
Russia has denied allegations that its troops killed civilians.
US stocks
Stocks gained on Monday as traders shook off recession fears.
The Dow Jones Industrial Average traded 103.61 points, or 0.3%, higher to close at 34,921.88 and the S&P 500 gained 0.81% to 4,582.64 with both benchmarks gaining for a second session in a row.
But the Nasdaq Composite was the big outperformer, advancing 1.9% to 14,532.55.
US Securities and Exchange Commission Chair Gary Gensler said Monday that his agency seeks to exercise greater regulatory power over a $2 trillion cryptocurrency market to protect investors from scams.
Gensler said the SEC will work to register and regulate crypto platforms, including the possibility of separating out the custody of assets to minimize risk.
“These crypto platforms play roles similar to those of traditional regulated exchanges,” Gensler said, at the Penn Law Capital Markets Association’s annual conference. “Thus, investors should be protected in the same way.”
Gensler was providing high-level details about his plans to address the crypto market almost a month after President Joe Biden signed an executive order calling on the government to examine the risks and benefits of cryptocurrencies.
The SEC, Gensler said, will partner with the Commodity Futures Trading Commission to address platforms that trade both crypto-based security tokens and commodity tokens, as the SEC currently only oversees those that trade securities.
He said the SEC will look into whether crypto platforms should be treated by his agency more like retail exchanges. Gensler also addressed what the SEC can do in the areas of stablecoins and crypto tokens.
EU sanctions
The European Union was working on a new package of sanctions against Russia that is likely to restrict the leasing of airplanes and the import and export of products like jet fuel, steel products and luxury goods.
However, the bloc remains divided over whether to extend those sanctions to energy imports. Ukraine’s top prosecutor has said 410 bodies had been found in towns recaptured from retreating Russian forces around Kyiv as part of an investigation into possible war crimes.
Two EU officials, who did not want to be named due the sensitive nature of the talks, told US CNBC that a proposal for the next sanctions package includes airplane leasing, steel products, luxury goods and jet fuel. Both sources added that the package is still a work in progress and could change as talks continue in the coming days and ahead of a crucial meeting of EU ambassadors on Wednesday.
One of the officials added that “obviously, there is a big component missing,” in reference to the lack of measures on the Russian energy sector.
Biden on Putin
US President Joe Biden on Monday called for evidence to be gathered to put Russian leader Vladimir Putin on trial for war crimes related to his nation’s invasion of Ukraine.
“This guy is brutal, and what’s happening in Bucha is outrageous and everyone’s seen it,” Biden told reporters, a day after video and still images revealed the town’s streets littered with dead bodies.
“I think it is a war crime. ... He should be held accountable.”
Biden also said he plans to slap additional sanctions on Russia for its conduct during the war.
National Security Advisor Jake Sullivan told reporters at the White House that sanctions would be announced this week.
“Russia will pay a severe price,” Sullivan said. “We have communicated to them directly. We have coordinated with our allies and partners and I’m not going to go for the specifics here.”
Ukrainian President Volodymyr Zelenskyy earlier accused Russian forces of committing genocide, saying that Ukrainians are being “destroyed and exterminated.”
Russia has denied allegations that its troops killed civilians.
US stocks
Stocks gained on Monday as traders shook off recession fears.
The Dow Jones Industrial Average traded 103.61 points, or 0.3%, higher to close at 34,921.88 and the S&P 500 gained 0.81% to 4,582.64 with both benchmarks gaining for a second session in a row.
But the Nasdaq Composite was the big outperformer, advancing 1.9% to 14,532.55.
