The Bank of New York Mellon Corp. (BNY) and the Goldman Sachs Group, Inc. have begun a collaboration that requires BNY to use blockchain technology developed by Goldman Sachs to maintain a record of customers’ ownership of select money market funds (MMFs), representing an enhancement of “the utility and transferability of existing MMF shares,” officials… Read More >>
Regulators Want the U.S. to Rule Crypto Markets
The highly touted “Crypto Week” of July 14-18 — when Congress mulled over major legislation to kick-start the digital asset era for U.S. markets — was just the start of the Trump team’s push to have the United States dominate global crypto markets. Toward the end of last month, “The President’s Working Group on Digital… Read More >>
The SEC Is Leaving a Crypto Limbo
The smoke has cleared, the U.S. Senate confirmation process is over, and the swearing-in ceremony is part of history. There is a new sheriff in town, and SEC Chairman Paul S. Atkins made several things clear on May 19 when he made remarks before the “SEC Speaks” conference. Atkins provided a quick and useful history… Read More >>
CFTC To Part Company with Two Commissioners
The Commodity Futures Trading Commission (CFTC), the regulator for the U.S. derivatives markets, may need to install a revolving door for all the exits and entrances it will be experiencing this month and beyond. CFTC Commissioner Summer K. Mersinger, a Republican, recently announced her departure from the CFTC, while Christy Goldsmith Romero, a Democrat, reiterated… Read More >>
Digital Assets Will Spur Ops & Compliance Overhauls
Securities firms participating in cryptocurrencies, tokenization, decentralized finance (DeFi) systems, and other digital asset realms will have to rely less on external regulatory guardrails and more on their own proactive efforts as the Trump administration charts a new course for the regulation of digital asset environments. The marching orders for this rapid reversal of Biden-era… Read More >>
The CFTC Takes a U-Turn on Digital Assets
Earlier this month, amid a flurry of executive orders, policy shifts, and layoffs of federal workers, the Commodity Futures Trading Commission (CFTC) charted a new course for its policies toward digital asset regulation. It is a dramatic change that puts the regulator in a new alignment with the Trump administration, the U.S. Department of Justice,… Read More >>
‘Lynq’ Settlement Network for Digital Assets Launches
A real-time, yield-bearing settlement network, dubbed Lynq, has launched with the backing of Arca Labs, Tassat Group, and tZERO Group. It is supported by a tokenized treasury fund and custodied via a special-purpose broker-dealer. “This announcement comes after more than a year of market engagement, platform development, and the creation of the Arca Institutional U.S…. Read More >>
What Is Your Firm’s Crypto Assets Exposure?
(Bloomberg recently launched a service — Digital Asset Exposure Analytics — that provides views into direct and indirect digital asset exposure for spot currencies, futures, options, and equity tickers for companies engaged in crypto activities and funds holding these assets. The new service is intended to help firms such as asset managers, discern whether crypto… Read More >>
DTCC Revamps & Renames Securrency Suite as ComposerX
Officials at the Depository Trust & Clearing Corp. (DTCC) say that they are doing their part to accelerate digital asset adoption “throughout the financial ecosystem” with the release of ComposerX, formerly the Securrency product suite, intended to streamline token creation and settlement. In October 2023, the DTCC acquired the tokenization infrastructure company Securrency Inc., then… Read More >>
Trump’s Team Pushes Hard for Crypto Regulatory Overhaul
The new Trump administration’s crypto- and digital asset train is moving full speed ahead to help Trump deliver on a campaign promise to make the USA the “crypto capital of the planet.” The impact on the securities industry and operations could be profound as the Trump team wants to fast-track innovation, new rules, guardrails, and… Read More >>
