Daily Archives: September 1, 2022, 8:49 am

Larry Fink: Here’s Your Answer to the Despicable Letter from the GOP Attorneys General | by Nell Minow

I’m sure BlackRock CEO Larry Fink’s response to the obnoxious, accusatory, misleading, letter he received from 19 Republican state attorneys general will be measured, diplomatic, and thoroughly lawyered over. He will hope to mollify them to continue to be able to do business with the government pension funds. That is only right for someone who is in business, with employees,…

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California Assembly Passes Crypto Regulation Bill That Requires Bank-Issued Stablecoins

California Gov. Gavin Newsom is set to sign a recently passed bill that would require digital asset exchanges and other crypto companies to obtain a license to operate in the state. The Digital Financial Assets Law, dubbed California’s “BitLicense,” takes after New York’s BitLicense regulation, which came into effect in 2015. California’s law, if signed by Newsom, a Democrat, would…

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Crypto.com Mistakenly Transfers $7 Million to Woman Owed $70 Refund – Bloomberg

The firm discovered during an audit in December that it had made an error in processing a A$100 refund seven months earlier, according to court documents first reported by Channel 7. An account number had been accidentally entered into the payment amount field, according to the court. The state of Victoria’s Supreme Court has ordered the home, which was bought…

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The Securities and Exchange Commission (SEC) Is Getting Clearer About How US Crypto Regulation Will Work

There’s two things that strike me about the SEC’s thinking. First, the SEC is really ramping up. We still don’t have any kind of formal rulemaking process directing crypto trading platforms to register as securities exchanges, but the agency is clearly building up a set of precedents. Remember, the SEC’s inquiry to Grayscale comes alongside the SEC calling nine other…

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Can Crypto Save the Cannabis Industry?

Despite being legal in a growing number of states for either medical or recreational use, cannabis is still illegal under federal law. The resulting regulatory uncertainty has effectively locked the industry out of the traditional financial system. Dispensaries and other cannabis companies have largely been shunned by federal banks and credit card networks, forcing them to hoard cash on-site –…

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