The New York Department of Financial Services adopted a final regulation implementing an approach to assessing costs and expenses of individuals who are regulated by the NYDFS and engage in "virtual currency business activity."
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The SEC reopened the comment period for a proposal that would amend the statutory definition of "exchange" to include trading systems that facilitate the trading of crypto asset securities.
President Joseph R. Biden urged banking regulators to adopt tougher capital rules to prevent the risk of future banking crises following the failure of Signature Bank and Silicon Valley Bank.
Treasury Secretary Janet Yellen described U.S. banking regulators' response to recent bank failures and highlighted Treasury's regulatory approach to risks posed by nonbank financial institutions.
CFTC Commissioners weighed in on recent cybersecurity and technology developments within the derivatives markets. The issues were considered at the CFTC Technology Advisory Committee Meeting.