News 

Equifax says U.S. regulators seek damages related to 2017 breach

“Credit reporting company Equifax Inc. offices are pictured in Atlanta Thomson Reuters (Reuters) – Credit reporting company Equifax Inc said it was informed by several U.S. regulators that they intend to seek damages from the company related to the cybersecurity breach of 2017 that exposed personal information of nearly 145 million people” reports businessinsider.com. The company has been named in 19 class action lawsuits in courts across the country, it said, and has spent hundreds of millions of dollars since disclosing the breach.Regulators in the UK and Australia have also…

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Policy Daily Review February 22, 2019

Policy Daily Review for February 22, 2019 ECB Minutes Show Policymakers Considering Fresh Stimulus, EURUSD Holds Steady ECB Minutes Show Policymakers Considering Fresh Stimulus, EURUSD Holds Steady   AUD/USD rebounds to 0.71 on China headlines, RBA Governor Lowe speech awaited The AUD/USD pair slumped to a 10-day low of 0.7070 on Thursday but was able to regain a small part of its daily losses in the last hour. As of writing   German government to extend Weidmann’s contract at Bundesbank – Handelsblatt German newspaper Handelsblatt recently reported that the German…

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Policy Daily Review February 21, 2019

Policy Daily Review for February 21, 2019 Stock market extends rally as Fed minutes show fissures on policy; Nasdaq marks longest win streak since August U.S. stocks finished higher Wednesday after minutes from the Federal Reserve’s January meeting showed central bankers were divided on raising rates fu   Stock market fights for flight as Wall Street awaits minutes from the Fed’s big policy pivot U.S. stocks on Wednesday saw a subdued open as investors awaited minutes from the Federal Reserve’s rate-setting meeting last month that led to a majo  …

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Crypto News 

US: Crypto Advocacy Group Encourages Financial Regulators to Foster Innovation

“United States blockchain advocacy group the Chamber of Digital Commerce has encouraged two major financial regulators to foster blockchain innovation, according to an official tweet on Feb. 19” writes Ana Berman for cointelegraph.com. The examinations will include cryptocurrency surveillance practices, as well as other market and trading surveillance, including real-time monitoring.In a separate letter to the CFTC, the group expressed support for the Commission’s previously launched initiative, dubbed LabCFTC, which examines fintech innovations.The group believes that blockchain offers a “myriad of transformational benefits” for businesses, government. and consumers. Source: cointelegraph.com

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Policy Daily Review February 20, 2019

Policy Daily Review for February 20, 2019 Fed’s Williams: New ‘patient’ stance does not mean not raising rates or that policy is set for all time In an interview with Reuters on Tuesday, New York Fed President John Williams said that the Fed’s new ‘patient’ stance did not necessarily mean that t   Walmart Contradicts the Government Crossing Wall Street Last week, the government released a terrible retail sales report for December. I was suspicious. The report was delayed by the shutdown, and if the a   Office of Government…

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Policy Daily Review February 18, 2019

Policy Daily Review for February 18, 2019 Two words in Facebook’s latest regulatory filing shows how worried the company is about what it’s doing to people For the first time ever, Facebook has acknowledged that concerns about users well-being could hurt its business.   Trump signs spending bill, averting partial government shutdown President Donald Trump on Friday signed a spending bill for government agencies that will avert a partial shutdown just after midnight. The bill also   European bank stocks rally as ECB considers restarting stimulus mechanism Correction: Due to…

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Policy Daily Review February 15, 2019

Policy Daily Review for February 15, 2019 EUR/GBP: Downside capped as UK government losing motion, hard Brexit still on the cards EUR/GBP was better bid after the pound dropped around 1.5c vs the buck yesterday, for no apparent reason as the dollar marched on within its uptrend,   UK: Lawmakers reject government motion seeking to reaffirm support for PM May British lawmakers have rejected PM May’s main Brexit motion that seeks to reaffirm support for May’s plan to seek changes to her Brexit deal, 303 vs 2   UK PM…

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Crypto News 

JPMorgan just launched its own cryptocurrency: What you need to know

“U.S. banking giant JPMorgan Chase & Co. on Thursday announced the launch its own digital currency, dubbed the JPM Coin, to service institutional clients in the settlement of funds” writes Aaron Hankin for marketwatch.com. That said, the cost-savings and efficiency benefits would extend to the end customers of our institutional clients,” the bank said in a news release.JPMorgan said as the coin gets closer to production, dialogue with regulators will begin. “JPM Coin is currently a prototype.According to the bank, the coin is still in the prototype phase but will…

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Policy Daily Review February 14, 2019

Policy Daily Review for February 14, 2019 Understanding the 199A Deduction After The New IRS Final Regulations A new deduction for small business owners can save thousands on taxes each year, but qualifying to the deduction can be complex. New IRS guidelines help explain some of the complexity, but the details of making the deduction work still require some careful planning and expertise.   What To Expect From CME Group’s Q4 CME Group had a fairly strong first three quarters of 2018, as the exchange managed to grow its revenue…

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