The size and scope of the crypto industry is growing rapidly, which has caught the eye of regulators. Today, the global market cap of the crypto industry is $2.1tn, while a recent NBC poll found that one in five adults in the US has invested in, traded or used cryptocurrencies.
Financial Markets
SEC charges Archegos executives with fraud and market manipulation
Senior executives from the failed hedge fund Archegos Capital Management, including its former owner Bill Hwang, have been charged by the Securities and Exchange Commission (SEC) with fraud and misleading counterparties.
CFTC to hold public roundtable on derivatives non-intermediation
A public roundtable is to be held on May 25 by the Commodity Futures Trading Commission (CFTC) to discuss issues around the non-intermediation of derivatives trading and clearing.
Hong Kong’s push into carbon markets hobbled by lack of ‘trust’
Hong Kong is the latest entrant into the voluntary carbon market with a remit to channel much-needed overseas funds into mainland China. Its new regulatory regime needs to overcome a crippling lack of trust in offsets despite their vast growth prospects.
Study finds Paris agreement has pushed up yields on bonds issued by carbon intensive firms
Firms with poor environmental records or a high carbon footprint are already facing higher costs due to a hit to their credit ratings and investor squeamishness towards buying their debt, finds a study published by the Federal Reserve Bank of New York.
IOSCO urges regulators to tackle gamification and scammers
Global standard-setter IOSCO is warning financial regulators to tackle the gamification of stock markets and the growing number of scammers as retail trading surges.
IOSCO suggests data consolidation may help market participants with fair access
Consolidation may improve access to secondary equity market data in some circumstances, and could help reduce its costs, identify liquidity and compare execution quality in jurisdictions where there may be fragmented liquidity, said the International Organization of Securities Commissions (IOSCO).
FSB: is crypto a threat to global financial stability?
February’s report on crypto assets from the Financial Stability Board is a call to arms as it contemplates the sector’s rapid growth and potential threat to financial stability.
Beefed up SEC enforcement unit suggests stricter policing of crypto markets
The Securities and Exchange Commission (SEC) is adding another 20 enforcement staff to its crypto and cyber enforcement unit, signalling more zealous clamp downs of abuses in these sectors.
New York Fed renews commitment to FX global code of conduct
In a statement on April 4, the Federal Reserve Bank of New York said it had renewed its commitment to the updated FX Global Code of conduct designed to drive better behaviour in the currency markets.
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