The CRS report provides a very good overview of the proposed bank capital requirements generally, and of the policy debates and trade-offs in changing those requirements. However, it does not provide enough level of detail on the proposed requirements for anyone (let alone legislators) to form a view as to whether the proposed requirements would be useful or justified or would impair economic growth.

Further, CRS reports that opponents to the proposed changes to the capital…

The real need is for a workable set of regulations applicable to cash market transactions in digital assets.  SEC Chair Gensler has made clear that he has no interest in developing such regulations, so progress on that front, if there is to be any, must await a new SEC Chair.

The PCAOB and the SEC have been warning accounting firms of their obligations when auditing foreign issuers located in China. (See  for a list of stories concerning SEC/PCAOB actions involving the regulation of audit firms based in China.) It would not be surprising if more such enforcement actions follow.

The Fifth Circuit Opinion was a pretty blunt shut down of the SEC's rulemaking process, essentially suggesting that it had manufactured a solution to a problem that it could not demonstrate existed. It is notable that two of the SEC's Commissioners (Uyeda and Peirce)  from the adoption of the Repurchase Rule. Against that background, it is not clear whether the SEC will want to make another run at this rulemaking, 

The SEC has now had a fairly bad run of defeats in which the…