Weekly summary 1) The SEC approves a Nasdaq rule allowing the trading of stocks and tokenized securities. 2) Senators reach an agreement with the White House to resolve the dispute with banks regarding the yield of stablecoins. 3) The SEC and the CFTC publish joint guidelines confirming that "most cryptocurrency assets" are not financial securities. 4) PayPal officially allows access to stablecoins in 70 countries. 5) The SEC chairman, Paul Atkins, states that "the cryptocurrency markets and the millions of Americans participating in them deserve a long-awaited clarification." 6) The CFTC chairman, Mike Selig, claims that cryptocurrencies will be the engine of the "new frontier of finance" as markets "evolve on the blockchain." 7) The SEC chairman, Paul Atkins, announces the removal of inapplicable rules to "advance, clarify, and transform" financial markets. 8) The U.S. national debt reaches a new historical record of $39 trillion. 9) xAI, Elon Musk's company, recruits bankers, portfolio managers, and Wall Street traders to train Grok in financial modeling. 10) The Federal Reserve chairman, Jerome Powell, warns that rising energy prices, a consequence of the Israeli-Iranian war, will fuel inflation.
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