United States

Crypto / Digital Assets

FASB Opens Consultation on New Crypto Accounting Standard

By Editors | 23/03/2023

Fair value accounting will more accurately reflect the underlying economics of crypto assets and provide more decision-useful information.

Capital / Liquidity

Yellen Not Considering ‘Blanket Insurance’ for US Bank Deposits

By Editors | 23/03/2023

Regulators are reviewing banking risks on a case-by-case basis. The FDIC would only step in to protect all depositors if there are systemic or contagion risks.

ESG / Sustainability

Biden Blocks Anti-ESG Bill; Texas to Divest from HSBC

By Editors | 23/03/2023

HSBC was added to a list that will requires state governmental entities in Texas to divest from all of the bank’s publicly traded securities within 360 days.

Crypto / Digital Assets

US Authorities Consider Taxing NFTs as Collectibles

By Editors | 23/03/2023

Under the US tax code, collectibles are subject to a 28% capital gains tax rate, compared to 20% for stocks, bonds and cryptocurrencies.

ESG / Sustainability

StoneX, ACX Launch US Digital Carbon Marketplace

By ESG Investor | 23/03/2023

Financial services firm StoneX and Singapore-based AirCarbon Exchange have signed an agreement to create a US-based digital carbon marketplace.

Enforcement

US SEC Simultaneously Charges Crypto Founder, Eight Celebrities

By Editors | 23/03/2023

Tron founder Justin Sun sold unregistered securities to US investors, manipulated TRX and BTT markets, and paid celebrities to tout the offerings without disclosing their compensation.

Sanctions

US, UK, EU and Australia Target Iran With New Sanctions

By Editors | 22/03/2023

The sanctions were imposed for human rights abuses and violations as well as the production and supply of drones to Russia.

Crypto / Digital Assets

Stablecoin Reserves Should be Held at Central Banks: Circle

By Editors | 22/03/2023

Circle is seeking to be able to hold USD reserves with the Fed rather than with various financial partners. In the long run, a wholesale CBDC could be used.

AML / KYC

Philippine Agencies Sign Data Sharing Deal on Beneficial Ownership

By Editors | 22/03/2023

The agreement will allow the SEC to give competent authorities timely access to beneficial ownership information, in line with the FATF recommendations.