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Tag Archives: EU

The Fight Over Mt. Gox’s Bitcoin Stash Blog,CryptoMarkets

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The Fight Over Mt. Gox’s Bitcoin Stash; Hundreds of thousands of Bitcoins went missing from the busted exchange. Who gets the leftover digital currency? Tom Redmond, Min Jeong Lee – Bloomberg An April 7, 2017, photo shows a sign informing customers that Bitcoin can be used for payment at a store in Tokyo. PHOTOGRAPHER: TORU YAMANAKA/GETTY IMAGES Mark Karpelès learned in June that he’s probably not going to become a Bitcoin billionaire. He calls that good news. If it had happened, he says, he would have been “one of the most hated people on Earth.” And Karpelès already has plenty…

EU Parliament and ECB Taking a Look At Cryptocurrencies Blog,CryptoMarkets

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Last week, which admittedly was a slow financial markets news week, headlines in the cryptocurrency press announced that a new EU report told officials not to ban bitcoin. Blockchain News said the report “. . . blasts economists who criticize cryptocurrencies.”  There was no blasting. While the report prepared by an EU policy department did provide some sound bites, it was one of five reports about central bank monetary policy toward virtual currencies that the EU Parliament had requested. If the briefing papers do guide the discussions, there is no reason to expect shifts in today’s slowly evolving bank regulatory…

EU Parliament and ECB Taking a Look At Cryptocurrencies Blog,Commentary,Feature,Regulation & Enforcement

Thom Thompson 475x300

Last week, which admittedly was a slow financial markets news week, headlines in the cryptocurrency press announced that a new EU report told officials not to ban bitcoin. Blockchain News said the report “. . . blasts economists who criticize cryptocurrencies.”  There was no blasting. While the report prepared by an EU policy department did provide some sound bites, it was one of five reports about central bank monetary policy toward virtual currencies that the EU Parliament had requested. If the briefing papers do guide the discussions, there is no reason to expect shifts in today’s slowly evolving bank regulatory…

Trillions in Stock and Derivative Trades at Risk Over New EU Rules; LME chief plots evolution not revolution at metal exchange; Regulators’ Penalties Against Wall Street Are Down Sharply in 2017 John Lothian Newsletter,Newsletter

First Read Hits & Takes By John J. Lothian Gary Flagler has a new job. He is now Head of International Business Development, Derivatives consulting for Bolsa Mexicana de Valores, S.A.B. de C.V. (BMV), also known as Grupo BMV, a 122-year-old company and one of Mexico’s premier financial institutions, headquartered in Mexico City, Mexico. He will be working with Mexder and Asigna, Compensación y Liquidación F/30430 Fiso Bancomer SA, MexDer‘s local scale rating AAA–rated clearinghouse. Gary will give them the presence in the U.S. they greatly needed. ~JJL The latest Financial Data for FCMs from the CFTC is available. ~JJL…

John Lothian Newsletter: NASDAQ OMX and Borsa Istanbul Sign Strategic Partnership; Tension rises on growing shift of power to Esma; China Bond Futures Get Green Light John Lothian Newsletter,Newsletter

Nasdaq OMX and Borsa Istanbul sign a partnership. The EU wants to toughen up its financial regulator, but the UK isn’t having any. In China, the State Council approves the reintroduction of government bond futures trading.

John Lothian Newsletter: Sommers Will Leave CFTC July 8 After Leading Review of MF Global; Europe steps up regulatory assault on CDS; Deutsche Börse launches cloud computing marketplace John Lothian Newsletter,Newsletter

CFTC commissioner Jill Sommers will head out the front door next week, vacating her position there. The EU turns up the heat on derivatives traders, and considers past sins as well as future requirements. Deutsche Börse announces plans to create a trading venue for cloud computing resources.

John Lothian Newsletter: CME Pulls Plan to Update Wash Trade Rule Amid CFTC Criticism; Banks charged with blocking CDS market; South Korea launches third stock market John Lothian Newsletter,Newsletter

CME Group updates its wash trade regulation, prompting a great deal of noise from the CFTC and a subsequent retraction of the change by the exchange. The EU charges large investment banks with colluding to block smaller players from setting up operations to trade credit-default swaps. South Korea’s third stock exchange opens its doors today.

John Lothian Newsletter: In Fight Over Bank Rules, Regulator Calls for Compromise; EU agrees breakthrough in market rules; FX Rates Said to Face Global Regulation in Libor Review John Lothian Newsletter,Newsletter

A CFTC commissioner wants the regulatory agency to reach out and compromise with overseas regulators on regulating foreign risk. In a probably unrelated turn of events, EU member states reached a milestone agreement on certain bank transactions and competition between clearing companies. As LIBOR’s fallout rolls onward and new allegations of currency rate manipulation surfaces, regulators around the world consider the idea that it might be good to regulate the way currency rates are set. In today’s First Read, take a look at another excellent MarketsWiki.tv interview: Julie Dixon, managing principal at Titan Regulation, discusses the origins of the Market…

John Lothian Newsletter: CBOE defers start of extended trading day after recent outages; EU rules risk driving London Metal Exchange to Hong Kong; LSE on target to win Italian bond platform EuroTLX John Lothian Newsletter,Newsletter

In the wake of two technical faults in two weeks, exchange CBOE decides to hold off a bit on its plans to extend its trading day. Customers at the London Metal Exchange make dark suggestions that if the EU insists on pursuing aggressive regulatory reform, the LME’s business might very well head to Hong Kong instead. The London Stock Exchange is on track with its future acquisition of the Italian retail bond platform EuroTLX.