News Regulators 

The UK’s Financial Conduct Authority wants to create a global sandbox

“The UK’s Financial Conduct Authority (FCA) is planning to create a global regulatory sandbox, which would allow fintechs to test their solutions in different countries at the same time” writes Lea Nonninger for businessinsider.com. The FCA is starting to ask for feedback from interested parties, which include fintechs, regulators, and consumers.The FCA also admits that a global sandbox might be an ambitious goal, and it may start out with an international college of regulators that have their own sandboxes.Here is why the FCA has the potential to succeed with its…

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Crypto News Regulators 

Beware these cryptocurrency dangers, say European regulators

“The regulators outlined multiple dangers for virtual currency investors, namely around volatility and the lack of transparency” writes Aaron Hankin for marketwatch.com. European regulators warned investors Monday about the risks associated with owning virtual currencies.Read: Bitcoin may not be done collapsing, but it has bounced back from worse Where do the risks lie?. Recently, Goldman Sachs said there is a probable chance that most major cryptocurrencies won’t exist within a decade. Source: marketwatch.com Share This:

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Crypto News Regulators 

EU regulators warn Bitcoin investors of ‘pricing bubble’

“The European Union’s top banking, securities and pensions watchdogs have all warned cryptocurrency investors could lose all their money as Bitcoin enters a “pricing bubble”” writes James Titcomb for telegraph.co.uk. The trio of regulators – the European Banking Authority, European Securities and Markets Authority, and the European Insurance and Occupational Pensions Authority – warned there were no safeguards for consumers buying into the £290 billion cryptocurrency market.Bitcoin soared in value in recent months before losing more than half its value, leaving investors who bought in at the highest prices out of pocket. Source: telegraph.co.uk…

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News Regulators 

Tory authority becomes first UK council in 20 years to impose emergency spending ban

“We can’t just increase council tax” writes Christopher Booker for telegraph.co.uk. Council leader Heather Smith said the position of the council was “unsustainable”, and argued that government cuts and a cap on council tax had exhausted the authority’s budget, which it is required by law to balance. Source: telegraph.co.uk Share This:

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Crypto News Regulators 

A Marriage of IoT with Blockchain for Improved Security  

“By removing a central authority or controlling system, blockchain can help secure IoT devices and networks by reducing the risk of single point compromise” writes Southeast Asia Based for newsbtc.com. This central authority is responsible for the transmission and collection of data from the IoT network, be it a home central heating system or a driverless car.The latter has potential security issues on a terrifying level and the former could be used to alleviate them.Back in 2016 the world was made painfully aware of this when the Mirai Botnet orchestrated…

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News Regulators 

Massive cost overruns threaten to derail the bullet train. Here’s what has to change

“It would take nearly every penny in its checkbook, but the rail authority assured the public it would work” writes Ralph Vartabedian for latimes.com. Only two years ago, the California rail authority unveiled an ambitious plan to begin operating a segment of bullet train service between San Jose and the Central Valley by 2025.Rail authority spokeswoman Lisa Marie Alley said the claim was settled last month for $51 million and was included in the cost overrun reported last week.One of the key tasks ahead, Kelly said in an interview, will…

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News Regulators 

The Latest: JFK airlines told to get bags to owners faster

“He said the authority is asking airlines and baggage handlers to develop short-term and long-term plans to ensure that travelers get their luggage more promptly” reports foxbusiness.com. Consultant Robert Mann says airlines generally have a good record on luggage but aren’t prepared for an unexpected backlog that happens fast. Source: foxbusiness.com Share This:

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News Regulators 

Fugitive Vietnamese tycoon remains in Singapore, lawyer says

“Singapore has no extradition treaty with Vietnam but its immigration authority has the power to repatriate people under certain circumstances, according to the city-state’s Immigration Act” writes Nicky Loh for cnbc.com. Remy Choo, one of at least three lawyers representing Vu, told Reuters that Singapore’s immigration authority had agreed to let him see his client for the first time later on Wednesday. Source: cnbc.com Share This:

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News Regulators 

Congress has just days to extend, reform, or repeal the controversial law that lets the US government track calls and emails

“Congress has just days to extend, reform, or repeal Section 702 of the Foreign Intelligence Surveillance Act (FISA), a highly controversial surveillance law that allows the US government to track and collect the communications of foreigners overseas without a warrant, even if Americans’ communications are incidentally picked up along the way” writes Brennan Weiss for businessinsider.com. More than four years since Snowden’s leaks, the debate over the government’s spying authority rages on. Source: businessinsider.com Share This:

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News Regulators 

How Cuts in Basic Subway Upkeep Can Make Your Commute Miserable

“Weinstein said the reduction had nothing to do with the governor and resulted from changes in planned signal work” writes Emma G for nytimes.com. The number of signal problems rose from 2012 to 2016, but the transit authority added just 57 signal maintainers during that period.Subway signal maintainers toil in dark, rat-infested tunnels, are often called on to work overtime and are paid far less than what they could earn in the private sector.In recent years, union officials and transit workers say, the authority has struggled with the basics of…

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