Cryptocurrency exchange Binance said it will limit products in Singapore dollars and will stop all online communication operations in the country.
The bank's analysts see long-term value in Chinese tech stocks, but recommended waiting for greater clarity around new regulations before buying.
The "Shark Tank" star said the regulator should be more transparent and focus on individual investors' needs instead of impressing Wall Street.
Binance halted trading in crypto derivatives on its Brazil platform to comply with a July 2020 order from the South American country's regulators.
Fund managers said they thought bets against Chinese stocks had risen sharply in August, after barely registering in July.
Brooks has said managing reputation and building trust with regulators were his biggest concerns in the role.
The Ripple boss said US regulators' belief that there was clarity around crypto assets was like an addict's belief that they don't have a problem.
The Securities and Exchange Commission (SEC) is a US government agency that enforces securities laws and protects American investors.
Dalio defended China's recent tightening of the general collection and use of data across all corners of its tech economy.
Binance, the world's largest crypto exchange by volume, finally decided to pave a way forward after experiencing many woes with regulators.
The iShares MSCI China ETF has fallen 16% year-to-date and is down 30% from its peak in February, while the S&P 500 is up about 15% in 2021.
Buffett's Berkshire Hathaway scrapped a $1.7 billion pipeline purchase, while Aon shelved a $30 billion merger. Both cited regulatory concerns.
The crypto exchange has unveiled some new measures to step up its compliance efforts, including a tax-tracking tool and data-sharing with regulators.
Zhao said Binance is seeking a new CEO with a strong regulatory background, and he's open to stepping down as the crypto exchange doesn't need him in particular to be boss.
Groups like the Proud Boys will be added to a shared database that also tracks known terrorist organizations like Al Qaeda and Hamas.
Most people in Singapore are positive about cryptocurrency regardless of age, according to a survey by Australia's Toluna, a consumer insights provider.
The best way to learn is by doing. Making investing more accessible helps level the playing field and teaches new investors useful financial skills.
Gary Gensler, the head of the US markets regulator, has indicated stablecoins will not be exempt from a set of new rules coming into force this year.
A report by researchers at the Federal Reserve and Yale suggests "stablecoins" should be regulated as strictly as commercial banks.
A judge has allowed Ripple, a crypto company, to take a former SEC director to court for his speech on why bitcoin and ethereum were not securities.
Italy has blocked its citizens from accessing the Binance cryptocurrency exchange on all its platforms.
Binance stopped its UK clients from withdrawing pounds from their accounts from Tuesday, after a key partner terminated their agreement with the firm.
A Google spokesperson told Bloomberg the company was "very disappointed", adding that it "acted in good faith throughout the entire process."
Regulators around the world are tightening the screws on crypto, but greater oversight and transparency is needed, CoinShares' James Butterfill said.
The FDIC is an independent US organization that deposit insurance to consumers and holds banks accountable.
Bitcoin ETF proponents say common concerns about crypto, like volatility and potential market manipulation, could be said of other asset classes, too.
CEO Zhao compared crypto adoption to the invention of the car industry to explain that laws and guidelines for road traffic took a while to develop.
The Berkshire Hathaway bosses discussed their biggest influences, the remote-work trend, and the key lessons they took from the pandemic.
Mexico's central bank and others have , billionaire Ricardo Salinas Pliego said his bank was working on becoming the first in Mexico to accept bitcoin.
Lina Khan studied law at Yale and wrote a critical paper on Amazon in 2017. Now, she's leading the US agency empowered to break Big Tech apart.
Chair Gary Gensler said he asked the regulator's staff to submit recommendations on a range of market rules, including high broker fees.
The Bank for International Settlements said bitcoin is higher-risk than stablecoins due to its volatility, so tougher capital-aside is needed.
At least twelve accounts of crypto and bitcoin influencers were shut down on Weibo as they violated guidelines and regulations, reports said.
The UK regulator found a number of crypto firms are not carrying out due diligence and that others have staff who lack the required skills.
The bank has been under regulatory scrutiny for years, and its CEO has acknowledged that more work is needed.
The banking chief told lawmakers he sees crypto as much riskier and far less valuable than gold or fiat currencies.
"We didn't ban dollars because Pablo Escobar had heaps of dollars in his basement," the Castle Island Ventures partner said.
Amazon, like Facebook and Google, has been hit with an antitrust lawsuit. Experts say the structure of antitrust law gives the companies an advantage.
The Department of Homeland Security will require pipeline companies to report cyberattacks to federal authorities, sources told The Washington Post.
"I think you have to take regulations really seriously and it's more likely to be a negative than a positive for a decentralized currency," El-Erian said.
Governments worry illegal payments and weak investor protection pose a threat to national security, the economist said.
An outright ban on crypto in India was widely considered outdated despite being rumoured earlier this year, an Economic Times report said.
Virtual currencies can't be used to conduct business as they don't have real value, China's central bank said.
The Galaxy Digital CEO dismissed the crypto sell-off as short-term volatility, and said he was taking Musk's bitcoin critique at face value.
"So I am not a Bitcoin supporter. I don't really care about Bitcoin. I know I'm going to get tons of emails after this," Dimon said in a new interview.
BaFin warned investors the exchange may have violated securities rules by failing to issue a prospectus detailing its offering of the assets.
Around $100 billion has already been raised across US SPACs so far this year, surpassing last year's record $83 billion raised.
Under new regulations, all 200 of South Korea's crypto exchanges could be shut down according to regulators.
Robinhood, which has filed to go public through an IPO, said the regulator's move is "elitist and against everything we stand for."
Bitcoin and other cryptocurrencies will not be clearly regulated soon and the debate around strict rules in the US is concerning, Jesse Powell said.
The head of the Senate banking committee is calling on lenders for answers about the blow-up of private investment firm Archegos Capital.
An SEC official warned about the rapid growth in SPAC deals and said the surge is raising questions, the Wall Street Journal reported.
Hedge funds' leverage and lack of diversification puts lenders at risk and regulators should "take another look," says Jim Millstein of Guggenheim Securities.
Swaps are like the 'wild west' and needs tougher rules following the implosion of Archegos, after which Credit Suisse and Nomura disclosed large losses.
NFT issuers must be careful not to accidentally create securities, 'Crypto Mom' Hester Peirce said. Digital asset regulation is being developed.
The investor's company wants to build 10 emergency power plants with on-site gas storage, in exchange for a 9.3% guaranteed annual return.
The move is the latest from the acting chair of the SEC to focus the regulator's attention on corporate accountability and governance.
The fact that Wall Street banks received requests from the SEC enforcement division indicates this could be the start of a higher level inquest.
Insider's list will spotlight top advertising execs who are navigating a shifting ad data and privacy landscape.
The law would require companies to submit documentation proving they are not owned or controlled by a governmental entity.
RLX Technology stock sank as much as 45% on Monday after Chinese officials said they will increase regulations on e-cigarette sales in the country.
The SEC's "ever-moving goalposts" are unfair to firms that plan to launch crypto products, she said.
The acting SEC chair also said that the agency is going to closely look at "the structural and the disclosure issues" of SPACs.
Burry has called bitcoin a "speculative bubble" fueled by debt and has said it has questionable long-term prospects.
Australia’s buy now, pay later sector has introduced its new, self-regulatory code of practice, promising sanctions against dodgy operators. The Code will see signatories freeze late fees for customers in financial hardship and undertake credit checks before approving hefty transactions. But it is unlikely to sway consumer advocates, who have […]
Here’s everything to know ahead about today’s House hearing regarding GameStop’s unexpected rally. Committee Chair Maxine Waters said hedge funds are responsible for predatory conduct. Reddit sided with individual investors and Robinhood explained why it restricted trading. Visit the Business section of Insider for more stories. The House Committee on […]
Facebook and Australia are locked in an "old western standoff" as the government says the tech giant should pay for news-related content.
Reddit may side with individual investors, Robinhood will explain why it restricted trading, and Congress will likely call for market stability.
The SEC should overhaul plans that allow executives to schedule stock trades, three senators said Friday. The plans let insiders profit while leaving retail traders at a disadvantage, the lawmakers said. The flaws also risk undermining public confidence in markets, they added. Visit the Business section of Insider for more […]
Federal regulators and prosecutors are probing the GameStop trading phenomenon, The Wall Street Journal reported. Authorities are investigating whether the army of Reddit traders partook in market manipulation. Robinhood and other brokers involved in the trend have been subpoenaed, according to the report. Sign up here for our daily newsletter, […]
Keith Gill, the trader known on Reddit for reaping hefty gains from GameStop’s recent stock spike, is under investigation, The New York Times reported. Gill rose to internet fame as pseudonyms Roaring Kitty and u/DeepFuckingValue when GameStop skyrocketed. Regulators are probing whether his investment broke rules associated with his job […]
Treasury Secretary Janet Yellen will meet with SEC, Federal Reserve, and CFTC officials regarding the Reddit-trader craze. The meeting will happen this week and could take place as early as Thursday, Reuters reported. Regulators haven’t yet said they will take action in the matter but indicated they’re examining the phenomenon. […]
An army of Reddit traders unleashed a spectacular short-squeeze on GameStop stock and others. Hedge funds will likely swallow multibillion-dollar losses and the regulators are watching. The Bank of England may give a glimpse of what’s in its toolbox, including negative rates. Visit Business Insider’s homepage for more stories. This […]
Renowned emerging-markets investor Mark Mobius isn’t in favour of regulatory action against day traders. The regulator should only ensure that trading is done efficiently and fairly, he told Bloomberg. Mobius Capital Partners has made no changes to its portfolio based on retail flows. Sign up here for our daily newsletter, […]
Google has threatened to shut down its search engine in Australia. Australian officials are demanding Google pay news publishers for content. Prime Minister Scott Morrison said: “We don’t respond to threats.” Visit Business Insider’s homepage for more stories. Google has threatened to shut down its search-engine service in Australia, as […]
Biden picked Rebecca Kelly Slaughter and Jessica Rosenworcel as acting FTC and FCC directors. The two Democrats have been more aggressive regulating big tech in the past than Trump’s appointees. They also favour many of Biden’s stances on issues like internet access, net neutrality, and privacy. Visit Business Insider’s homepage […]
“Shark Tank” investor Kevin O’Leary criticised Bitcoin as niche, illiquid, and poorly regulated. “Bitcoin is still a nothingburger, a giant nothingburger,” he said on his YouTube channel. O’Leary emphasised the potential for a global digital currency approved by regulators. Visit Business Insider’s homepage for more stories. “Shark Tank” star Kevin […]
Consumers could ‘lose all their money’ if they invest in cryptocurrencies such as Bitcoin, the UK’s financial watchdog has warned. Bitcoin hit an all-time high of almost $US42,000 on Friday, but has since fallen sharply to around $US35,000. Regulators are increasingly concerned about cryptocurrencies such as Bitcoin and have increased […]
Paul Constant is a writer at Civic Ventures, a cofounder of the Seattle Review of Books, and a frequent cohost of the “Pitchfork Economics” podcast with Nick Hanauer and David Goldstein. In this week’s episode of Pitchfork Economics, Hanauer and guest cohost Jessyn Farrell spoke with Anat Admati, a finance […]
Up to 4,000 financial services firms in the UK are at risk of failing due to the coronavirus pandemic, the Financial Conduct Authority warned on Thursday. Insurance services groups, payments firms and investment managers reported a fall in liquidity. However, the watchdog said stronger markets and a return to economic […]
Jack Dorsey published an open letter on Monday attacking proposed US government regulation that would require companies to collect names and addresses of people making large cryptocurrency transactions. The regulation is supposed to make it easier for law enforcement to track illicit transactions, but Dorsey says it will have the […]
Alibaba founder Jack Ma’s wealth has fallen by $US12 billion in just two months, from about $US62 billion to $US50.9 billion, according to the Bloomberg Billionaires Index. Ma’s net worth has dropped as China tightens rules for the financial technology industry in the country. Beijing wants more oversight of Ma’s […]
Coinbase, Kraken, and other cryptocurrency exchanges are pushing back against a US Treasury Dept. proposal that would require them to log personal details about the people who use cryptocurrency. Under the proposal, crypto companies would have to record and report crypto transactions above $US10,000, just as banks are required to. […]
US-listed shares in Alibaba fell by 7% on Thursday, after Chinese regulators said they had launched an anti-trust investigation into the country’s biggest technology company. US-listed shares in Alibaba fell in premarket trading, after China regulators opened probe into the e-commerce company. It echoed the losses overnight in Asia, where […]
Ripple’s XRP cryptocurrency tumbled by as much 32% on Wednesday, after the US regulator filed a lawsuit against the company’s executives over sales of the token. XRP lost as much as a third in value after the US regulator charged cryptocurrency firm Ripple over how it has sold the digital […]
Blockchain company Ripple has been running a $US1.3 billion unregistered offering, akin to an unlicensed stock sale, according to a complaint filed Tuesday by the US Securities and Exchange Commission. “Issuers seeking the benefits of a public offering, including access to retail investors, broad distribution and a secondary trading market, […]
Robinhood agreed to pay $US65 million to settle with the Securities and Exchange Commission over charges that the brokerage misled clients on its revenue from trades and the quality of its service. The SEC alleged Robinhood made “misleading statements and omissions” about how it made money with market-makers. Robinhood, like […]
TikTok is stamping down on vaccine misinformation, introducing a new content screen for videos that might be harmful, and clarifying its rules worldwide. The announcements came on the same day when the UK government warned of a “new age of accountability” for social media. Social-media platforms operating in the UK […]
A German watchdog chief is facing a probe after he revealed he traded shares in payments firm Wirecard just before its huge accounting scandal, the Financial Times reported. Ralf Bose, head auditor at Apas since 2016, told a committee hearing on Thursday that he bought Wirecard shares in April and […]
Goldman Sachs has predicted when coronavirus vaccines will be rolled out as several candidates approach regulatory approval in advanced economies. More than 70% of people in developed economies can expect to be immunized by fall 2021, economists Daan Struyven and Sid Bhushan said. The UK will vaccinate half of its […]
Swiss voters on Sunday rejected sweeping responsible business standards that would have held multinational companies liable for their conduct abroad, reports Swissinfo. The Responsible Business Initiative would have amended the constitution, adding penalties for Swiss-based companies committing human rights abuses abroad. A razor-thin majority of voters approved of it, with […]
It looks increasingly likely that President-elect Joe Biden’s administration is going to come down hard on Big Tech. The Biden campaign’s top technology advisor, Bruce Reed, helped draw up strict privacy legislation for California, and has publicly argued that tech companies should be held liable for harmful content on their […]
Financial regulator ASIC has released its long-awaited report on the buy now, pay later sector. Under new regulations, platforms will have to identify their target market and regularly assess whether their products are appropriate for their users. However, ASIC ruled out further regulation without parliamentary intervention, as the sector explodes […]
The Securities and Exchange Commission charged former Wells Fargo CEO John Stumpf together with another top executive on Friday for intentionally misleading investors over the US bank’s core business. Carrie Tolsted, former community bank chief, is said to have known that a key selling metric was inflated, but used it […]
Ant Group’s historic $US37 billion IPO was personally halted by Chinese President Xi Jinping after boss Jack Ma criticised government leaders, the Wall Street Journal reported. A week before the Chinese fintech was set to go public, Ma made incendiary comments that didn’t go down well with the president or […]
EU lawmakers are drawing up a “hit list” of Big Tech companies to target with new regulation, sources told the Financial Times. The list will have up to 20 companies on it, and is likely to include big players such as Facebook and Apple, the sources said. The EU is […]
Facebook’s global policy chief Nick Clegg spoke to EU lawmakers on Wednesday. He touched on a sore point within Europe on why the bloc has no modern equivalent to a Google or a Tencent. Clegg said the reason there hasn’t been a European tech success to rival Facebook or Google […]
The EU is looking to give itself sweeping new powers to crack down on US tech giants, EU commissioner Thierry Breton told the FT in an interview Sunday. The regulatory blueprint includes massive penalties to force tech companies to sell off their European operations and even shutting them out of […]
Summary List Placement Robinhood is under investigation by the Securities and Exchange Commission over its deals with high-speed trading firms, The Wall Street Journal reported on Wednesday. The probe is focused on Robinhood’s failure to fully disclose its practice of selling customers’ orders to market-makers, sources told The Journal. A […]
The Securities and Exchange Commission and Financial Industry Regulatory Authority are investigating Robinhood and its handling of an early March service outage, Bloomberg reported Monday. The brokerage made headlines after its trading platform shut down for the entirety of March 2 and some of March 3, leaving investors unable to […]