Key policymakers and blockchain leaders gathered in Washington, D.C., for the Blockchain Association’s third annual Policy Summit on December 16-17, 2024. Discussions focused on regulating stablecoins and securities laws, emphasizing the need for balanced regulation to foster innovation while ensuring national security.President-elect Donald Trump addressed attendees via video, expressing support for blockchain technology's role in enhancing national security. Industry representatives showcased decentralized projects like CESS, Filecoin, and Helium, highlighting blockchain's potential to protect sensitive information and privacy.
Jump Trading has agreed to pay $123 million to settle SEC charges related to its involvement in the collapse of the algorithmic stablecoin TerraUSD, which resulted in over $40 billion in investor losses. The SEC accused the firm of misleading investors about TerraUSD's stability and violating securities laws during Luna token offerings. Despite earning $1.28 billion from backing TerraUSD, the settlement suggests an acknowledgment of the issues surrounding its actions, prompting calls for stricter regulations in the crypto market.
Advancements in quantum computing could enhance Bitcoin's security, despite fears of potential threats to cryptographic encryption. Adam Back, co-founder of Blockstream, suggests that post-quantum signature research will yield more compact signatures, which Bitcoin can adopt. Meanwhile, Google's new quantum chip, Willow, while impressive, is still far from being able to compromise Bitcoin's encryption, requiring a quantum computer with 13 million qubits for effective decryption.
The PUK report reveals that big bank regulations, particularly the "too big to fail" (TBTF) legislation, failed to protect Credit Suisse, necessitating state intervention. Despite intentions to bolster resilience and protect taxpayers, exemptions allowed the bank to hide significant equity gaps, leading to a crisis that required a potential nationalization. As reforms are planned, the government must acknowledge the reality of needing to provide substantial rescue funds for systemically important banks in the future.
Interpol has issued a "Red Notice" for Hex founder Richard Schueler, also known as Richard Heart, for alleged tax fraud and assault, with Finnish authorities seeking his arrest. The allegations include a physical assault on a minor and tax evasion from June 2020 to April 2024. Schueler is also embroiled in a $1 billion lawsuit with the SEC over unregistered crypto token offerings.
MicroStrategy has appointed former Binance.US CEO Brian Brooks, along with Jane Dietze and Gregg Winiarski, to its board of directors, expanding the board to nine members. This announcement follows MicroStrategy's inclusion in the Nasdaq-100 Index, effective December 23. Brooks, who previously served as acting Comptroller of the Currency, is noted for his significant connections in the banking and crypto sectors.
Volkswagen and IG Metall have reached a significant agreement to cut over 35,000 jobs by 2030, ensuring that no sites will be closed down. This deal marks a historic negotiation milestone amid ongoing discussions about the influence of EU regulations on national laws.
The Australian Securities and Investments Commission (ASIC) has initiated legal action against Binance Australia for alleged violations of counter-terrorism financing and anti-money laundering laws, marking a pivotal moment in cryptocurrency regulation. This case could lead to significant penalties for Binance, impacting its operations and investor confidence both locally and internationally. As regulators worldwide observe, the outcome may set a precedent for stricter compliance measures across the cryptocurrency industry, emphasizing the need for robust frameworks to protect investors and ensure market integrity.
UBS has intensified lobbying efforts to prevent new regulations following the Credit Suisse crisis, with significant donations to conservative parties raising concerns. The SP calls for a ban on party funding from UBS, arguing that it undermines regulatory independence and accountability. The PUK report highlights how bank lobbying contributed to regulatory fatigue, impacting the effectiveness of FINMA.
The recent PUK report on Credit Suisse highlights the urgent need for competent leadership in Swiss banking, emphasizing that past failures stemmed from greed and lack of integrity among managers. Recommendations include stricter equity requirements for UBS and a review of bonus systems, as well as easier penalties for non-compliance. The report warns that without significant reforms, future banking crises could have devastating impacts on Switzerland's economy.
Trending
Subcategory:
Countries:
Companies:
Currencies:
People:

MachinaCore is a highly modular and scalable system that allows users to build custom widgets and tools tailored to their specific financial data needs, while seamlessly integrating with other MachinaLabs products, like Machinary, MachinaAI Modules and MachinaTrader.

Address

Waitlist

We’re granting exclusive early access to the first 500 users from december 20.

© 2024 by Machinary.com - Version: 1.0.0.0. All rights reserved

Layout

Color mode

Theme mode

Layout settings