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SEC drops emphasis on crypto sector exams for 2026
The Securities and Exchange Commission has ditched its focus on the oversight of companies offering crypto asset-related services for 2026, according to the regulator’s annual statement. The SEC’s Division of Examinations said it would focus on fiduciary duty, standards of conduct, and asset custody as well as new requirements for customer data privacy, among other…
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Bank of New York Mellon launches stablecoin fund
The Bank of New York Mellon Corp. has launched the BNY Dreyfus Stablecoin Reserves Fund to help stablecoin issuers comply with the new GENIUS Act, which mandates that dollar-backed digital tokens hold reserves in ultra-safe, short-duration assets. Anchorage Digital has made an initial investment, as part of a broader partnership with Tether to develop a…
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Amazon, Microsoft back AI chip limits
Amazon and Microsoft are supporting the Gain AI Act, legislation that would restrict Nvidia’s ability to export AI chips to China unless U.S. demand is met first. The bill, which benefits cloud giants by ensuring chip access and easing export rules to friendly regions, has exposed a rare rift with Nvidia, their major supplier. Nvidia…
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Burger King to expand in China
Chinese asset manager CPE will invest $350m to support Burger King’s expansion in China. The joint venture aims to increase the number of restaurants from 1,250 to over 4,000 by 2035. CPE will own 83% of the venture, while Restaurant Brands International (RBI) will hold 17%. RBI chief executive Joshua Kobza said: “CPE is a…
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U.S. air traffic controllers urged to return to work
Donald Trump has urged air traffic controllers to return to work amid escalating flight cancellations, as staffing shortages during the government shutdown have led to 20% to 40% of controllers absent at major airports. In a social media post, Trump threatened to penalize those who do not comply while promising $10,000 bonuses for dedicated workers,…
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‘Climate breakdown’: UN says world is heading for 2.8C temperature rise
The world is headed for a “climate breakdown” at a global average temperature rise of 2.8C under existing government policies, according to the latest UN report ahead of global climate talks. In a speech marking the report’s release, UN Secretary-General António Guterres said that if existing national climate action plans are fully implemented by 2035,…
