The U.S. House Financial Services Subcommittee on Consumer Protection and Financial Institutions held a hearing to consider proposed legislation on novel financial institution charters such as industrial loan companies, as well as state charters and licenses for cryptocurrency and blockchain firms.
Several trade groups expressed support for CFTC-proposed amendments to uncleared swap margin requirements. The groups offered additional recommendations to enhance the proposals or further their intended impact.
In a 3-2 vote, the CFTC adopted a final rule that applies federal speculative position limits to 25 "core referenced futures contracts," including futures and options linked to those contracts and economically equivalent swaps.
The DOJ filed a civil forfeiture complaint alleging that North Korean cyber actors stole millions of dollars' worth of cryptocurrency and then laundered the funds through Chinese OTC cryptocurrency traders.