Thursday, July 29

Regulation

beijing, Chinese Stocks, Markets, MI Exclusive, Movers, Regulation, stock market, stock market 2021, Stocks, Trading

Chinese stocks are being battered by regulation from Beijing. Here are the 10 that have seen the steepest declines in 2021.

A trader works during the Fed rate announcement on the floor at the New York Stock Exchange (NYSE) in New York, US, March 20, 2019. Reuters/Brendan McDermid Beijing's recent tightening of regulation across industries has led to a crash in market value for Chinese stocks.Recent regulations in the Chinese tutoring industry led to some stocks falling more than 90%.These 10 Chinese stocks have seen the biggest year-to-date declines amid amped up pressure from Beijing.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Whether its Didi, Alibaba, or Tal Education, Chinese stocks have been slammed this year as Beijing ramps up its regulatory pressure across industries.The moves sent shockwaves across financial markets, with several high-profile companies like TikTok...
Bitcoin, crypto, Cryptocurrencies, digital assets, Ether, Ethereum, Markets, MI Exclusive, Regulation, Singapore

In Singapore, 93% of people have heard of cryptocurrency, 66% of the young own some, and more plan on buying, thanks to the nation’s pro-crypto stance, a survey finds

Singapore flag Emmanuel Dunnand/ Getty Images Most Singaporeans are positive on cryptocurrencies, regardless of age, but it is the country's younger population that is adopting digital coins en masse, thanks to pro-crypto regulation, according to a survey by Australia's Toluna, a consumer insights provider. The survey, which polled around 1,000 people, was conducted in May. It showed 93% of all Singaporeans had heard of crypto and 43% owned it, with adoption highest among 26-45 year-olds. 66% of respondents in that group said they owned some crypto. In the US, only 6% of adults said they invested in bitcoin, according to a recent Gallup poll.The Singapore survey showed 59% believed crypto would reach mass adoption, and 50% believed that bitcoin will be worth more than $367,000 by...
crypto, Cryptocurrencies, digital assets, Federal Reserve, Markets, MI Exclusive, Regulation, Stablecoins, Tether, yale

Stablecoins should be regulated like banks and central bank digital currencies could tame these’wildcat’ crypto tokens, according to research from the Fed and Yale

US dollar Sopa images/ Getty images Cryptocurrencies that are pegged to a stable asset-known as "stablecoins"-should be regulated as strictly as commercial banks and those that are not should be wiped out to prevent instability in the global payments system, according to a report from researchers at the Federal Reserve and Yale University.The report, titled "Taming the wildcat stablecoins", was released over the weekend ahead of a meeting of a Treasury Department working group on digital assets on Monday. In it, researchers suggested stablecoins should be issued by insured banks and backed by government bonds. But anyone can issue a stablecoin and it is these privately produced tokens that have regulators worried. Tether, for example, is the world's third-biggest cryptocurrency b...
Antitrust, European tech, France, Google, Regulation, Tech Insider, Technology

Google has been hit with another fine in Europe, this time for $593 million in France after failing to strike a deal with news publishers

French antitrust authorities have hit Google with a €500 million ($593 million) fine. The tech firm must negotiate a new deal with news outlets or face fines of nearly $1 million a day. A Google spokesperson told Bloomberg the company was "very disappointed" with the decision. See more stories on Insider's business page. Google has been hit with a €500 million ($593 million) fine by French antitrust authorities after failing to negotiate a deal with local news publishers to pay for their content. The move is the latest twist in an ongoing battle between social media companies, regulators, and news outlets around the world.Austral...
Bitcoin, cryptocurrency, El Salvador bitcoin, Markets, MI Exclusive, Regulation

CoinShares’ investment chief lays out why bitcoin’s’identity crisis’ means it’s harder to regulate and how governments can’t truly ban crypto no matter how hard they crack down

Bitcoin Nurphoto / Getty Images Insider spoke to CoinShares' James Butterfill about the future of regulation. Governments can't truly ban crypto so they are fighting to stay relevant with central bank digital coins, he said. Regulatory action is feeding the volatility in bitcoin and the market needs clarity, Butterfill said. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Regulators around the world are tightening the screws on cryptocurrencies, but greater oversight and increased transparency is the only way the market can evolve and progress, according to CoinShares investment strategist James Butterfill.In the wake of a sustained crackdown across various countries on Binance, a crypto exchange and China's severe restrictions on bitcoin mining, CoinSha...
Alyssa Powell, Economics & Markets (Reference), FDIC, Finance, Investing (Reference), Investing How To, Regulation, SJ Graphics

What is the FDIC?

The Federal Deposit Insurance Corporation, or FDIC, is an independent government agency whose mission is to protect consumers' money and regulate financial institutions. The FDIC insures up to $250,000 per depositer, per insured bank. But it doesn't insure all account types. If your bank folds, the FDIC will automatically return your funds back to you so long as the account and funds are insured. Visit Business Insider's Investing Reference library for more stories. Picking which bank to store your money is a big decision. There are many options to choose from nowadays, with each financial institution offering various benefits and ...
Bitcoin, Bitcoin ETF, crypto, Gary Gensler, Markets, MI Exclusive, Regulation, SEC

13 applications for a bitcoin ETF are in limbo as the SEC deliberates. Some fund managers see a double standard around how the regulator treats crypto.

Gary Gensler is working on Biden's financial regulatory plans. Chip Somodevilla/Getty Images If you invest in crypto, "ask questions and demand clear answers." That advice, from former SEC Chair Jay Clayton, is now being put to practice as his successor, Gary Gensler, grills the industry over pending approval of a bitcoin ETF.Yet as the seven-year quest to get the regulatory go-ahead drags on, some fund managers and crypto executives who spoke with Insider question whether Gensler's SEC has taken too hawkish an approach. These bitcoin ETF proponents say common concerns about crypto, like volatility and potential market manipulation, could be said of other asset classes, too. They note that Canada, Europe, and Brazil all have functioning bitcoin funds in circulation. And they argu...
Archegos Capital, Berkshire Hathaway, Charlie Munger, Markets, MI Exclusive, Pandemic, Regulation, Remote Work, Robinhood, Stocks, Warren Buffett

Warren Buffett and Charlie Munger slam Robinhood, blast Archegos’ lenders, and reflect on their iconic friendship in a new interview. Here are the 15 best quotes

Warren Buffett and Charlie Munger. CNBC Warren Buffett and Charlie Munger blasted Robinhood and Archegos' lenders in a recent interview. The business partners also reflected on their six decades of friendship and biggest influences. Buffett and Munger discussed remote working and the pandemic's impact on Berkshire Hathaway as well. See more stories on Insider's business page. Warren Buffett and Charlie Munger blasted Robinhood, slammed the banks that enabled the Archegos Capital meltdown, and reflected on their friendship of six decades in a CNBC interview that aired on Tuesday night.The Berkshire Hathaway chairman and vice-chairman also shared their key lessons from the pandemic, discussed its impacts on their company, and clashed on the subject of Zoom meetings versus telephone...