4 links tagged with all of: regulation + finance + banking
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The article argues that the SEC, under Gary Gensler, has misrepresented crypto regulations, treating non-securities as securities, which harms the Democratic party's narrative. It critiques the banking system for favoring wealthy clients while failing to adequately compensate depositors, suggesting a need for fair competition in banking.
Interactive Brokers has applied for a national trust bank charter from the Office of the Comptroller of the Currency. The new bank, named Interactive National Trust Bank, would expand the firm's services beyond its retail trading platform.
The article critiques the outdated infrastructure of traditional finance, highlighting how systems still operate under analog principles, causing inefficiencies like delayed settlements. It contrasts this with the rising influence of cryptocurrency and the evolving attitudes towards regulation in the sector.
Crypto companies like Circle and BitGo are planning to apply for bank charters as they aim to integrate more closely with the banking system. This move comes in response to regulatory pressures following past industry turmoil and amid renewed interest spurred by political support for cryptocurrency.