Financial MarketsRSS
John Salmon

Global rules could significantly alter crypto’s development

The Financial Action Task Force (FATF), which focuses on fighting financial crime, is the most advanced of the international standard setters (ISS) for creating rules governing crypto assets. Its actions so far suggest that once the other ISSs catch up, more constraints could be placed on crypto. 

YVES_LONGCHAMP

Crypto emerges from the shadows

The promise of profits and efficiency gains is seeing cryptocurrencies and their supporting blockchains being steadily drawn out from the shadows and into as yet largely unfinished regulatory parameters. 

AFME counters ‘inaccurate’ claims that OTC and SI are muddying equity market transparency

EU policy-makers are potentially being misled with “incorrect data” to favour entrenching the dominance of exchanges, the Association for Financial Markets in Europe (AFME) said in a report released on June 1.

European swaps trading accelerating use of e-trading says survey

Buy-side firms involved in European swaps trading accelerated their use of e-trading in 2020 thanks to a desire to improve efficiency and homeworking measures imposed by governments to stem the spread of the Covid-19 pandemic, Coalition Greenwich said in a report.

Liew Chin-Chong

Futures law reform to bolster China’s capital markets

Recently announced changes to China’s futures laws will have a profound impact on the country’s financial sector and are another step towards the internationalisation of the renminbi.

Contagion risks growing in US Treasuries market due to fragmentation of clearing

There is a growing contagion risk due to the fragmentation of the US Treasuries market, argues the the Depository Trust & Clearing Corporation (DTCC), a market infrastructure firm, in a white paper published on May 25 called ‘More Clearing, Less Risk: Increasing Centrally Cleared Activity in the US Treasury Cash Market’.

Fed says CBDC could complement cash and will publish discussion paper during the summer

A US central bank digital currency (CBDC) could complement rather than replace cash and digital equivalents of the US dollar with its design raising important questions around monetary policy, financial stability, consumer protection, legal, and privacy considerations, said Jerome Powell, chair of the US Federal Reserve Board. 

SEC brings legal action against Bitconnect promoters

Legal actions have been filed by the US Securities and Exchange Commission (SEC) against five individuals who it is accusing of promoting to retail investors $2bn of unregistered global crypto lending securities.

DeFi raises fresh challenges for US investors and regulators says SEC chair

Cryptocurrencies throw up various risks and challenges for investors and regulators, said Gary Gensler, chair of the US Securities and Exchange Commission (SEC) on May 26 in prepared testimony to the House Appropriations Committee.

Wall Street

Global standard setters make renewed push to end Libor’s reign

Global standard setters continued to ratchet up pressure on firms by urging them to dump the scandal-tarnished London interbank offered rates (Libor) in favour of alternative risk free rates (RFRs) by the end of the year, with evidence that some firms are not making the transition fast enough.