Regulation – Jinkun http://jinkun.info/ Thu, 11 Aug 2022 08:45:38 +0000 en-US hourly 1 https://wordpress.org/?v=5.9.3 https://jinkun.info/wp-content/uploads/2021/06/icon-72-150x150.png Regulation – Jinkun http://jinkun.info/ 32 32 Portuguese banks ban digital currency trading – regulatory compliance is crucial https://jinkun.info/portuguese-banks-ban-digital-currency-trading-regulatory-compliance-is-crucial/ Thu, 11 Aug 2022 08:01:37 +0000 https://jinkun.info/portuguese-banks-ban-digital-currency-trading-regulatory-compliance-is-crucial/ At the end of last week (August 4), news broke that several leading Portuguese banks had closed the accounts of several digital money changers. Portuguese banks, including Santander, BCP and several others, cited risk management as the reason for account closures, although no specific information was given. The closures took place even though the Bank […]]]>

At the end of last week (August 4), news broke that several leading Portuguese banks had closed the accounts of several digital money changers.

Portuguese banks, including Santander, BCP and several others, cited risk management as the reason for account closures, although no specific information was given.

The closures took place even though the Bank of Portugal had cleared the affected companies, which included Luso Digital Assets, Mind the Coin, Criptoloja and others.

Good regulatory compliance could avoid situations like this

Although regulation is something of a bogeyman for many in the digital currency industry, it is obvious that if the industry wants to benefit from real banking services, it will have to follow the same rules as banks.

While no one wants to see crippling regulations that stifle innovation, it’s also true that few people would welcome the proceeds of crime, such as funds from money laundering, into their country’s banking systems. Decades of work have gone into extracting dirty money from the system in places like the European Union, and it’s no exaggeration to say that regulators will stop at nothing to make it happen.

So what to do? Rather than complaining about how they are “forced to bank outside of Portugal”, it would be more reasonable for the affected digital currency companies to focus on ensuring they don’t pose regulatory risks. to their banking partners. Say, for example, by adhering to the same strict AML/KYC rules and refusing to allow a shady stablecoin like Tether on their exchanges.

While it is unclear whether the affected exchanges violated any specific AML/KYC rules, it is absolutely clear that the industry as a whole has been strongly anti-regulatory and hostile to outside authority for years, portraying Bitcoin as something beyond the reach of governments and a threat to their power. Slowly, this narrative is backfiring as regulators around the world target exchanges like Coinbase (NASDAQ:COIN) and respond to perceived threats posed by the industry.

The market has spoken

What’s interesting about these account closures is that they weren’t forced by any government regulator, and while there’s no way of knowing what’s going on behind the scenes , the decision seems to have been taken by the banks in their own interest.

It is the equivalent of the free market rejecting unwanted products and services. While some industry players will choose to portray this as banks eliminating their competition, the truth is that digital currencies in their current form pose no threat to banks. In reality, Bitcoin was never meant to replace banks and banking services. The likes of BTC, ETH and other popular digital currencies are unable to pose a threat to payment processing companies due to the technical limitations of the blockchains they are built on. Just watch how Celsius Networks’ marketing slogan “Unban yourself » turned out to be a realistic view of how serious a “crypto” threat to banks might be.

So what is the real reason for account closures? This is likely a combination of a genuine concern about not violating Anti-Money Laundering and Know Your Customer regulations and a desire to cut ties with many low life criminals and those who enable them. It’s really not that complicated, the market (of Portuguese banks) has spoken, and it doesn’t like digital currency exchanges.

The biggest story arc is crystal clear

CoinGeek has been saying for years that only regulated and legally compliant blockchain and digital asset businesses will survive the ongoing regulatory onslaught. Although this narrative has been dismissed by many convinced that the industry could exist beyond the reach of governments, it is becoming clear that, just as Dr. Craig Wright and others have warned, there is ultimately no no escape from the long arm of the law. As we see with this story, regulators don’t have to go after digital currency companies directly; they just have to put a little pressure on the banks and other regulated financial institutions, and they will take care of the rest.

As the bigger picture becomes clearer, we will double down and repeat: in the years to come, regulators will press to death those who flouted AML/KYC rules and other regulations. Digital currencies like Monero will likely be banned in large parts of the world, exchanges like Binance will be kicked out of all jurisdictions, and an ever-increasing number of exchanges and trading platforms will be fined, shut down, or simply squeezed out. until they withdraw.

Those looking to build long-term sustainable businesses and applications that deliver value globally for decades need to carefully consider their options. Bitcoin SV awaits with open arms.

Watch: BSV Global Blockchain Convention Panel, The Future of Digital Asset Trading and Investing

New to Bitcoin? Discover CoinGeek bitcoin for beginners section, the ultimate resource guide to learn more about Bitcoin – as originally envisioned by Satoshi Nakamoto – and blockchain.

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Regulation of per- and polyfluoroalkyl substances | Clark Hill PLC https://jinkun.info/regulation-of-per-and-polyfluoroalkyl-substances-clark-hill-plc/ Tue, 09 Aug 2022 17:48:25 +0000 https://jinkun.info/regulation-of-per-and-polyfluoroalkyl-substances-clark-hill-plc/ During the first half of 2022, the U.S. Environmental Protection Agency (EPA) continued to make progress on actions outlined in its Per- and Polyfluoroalkyl Substances (PFAS) Strategic Roadmap, which contains a timeline for planned agency activities on PFAS for the next three years. On June 15, 2022, the EPA issued four drinking water health advisories […]]]>

During the first half of 2022, the U.S. Environmental Protection Agency (EPA) continued to make progress on actions outlined in its Per- and Polyfluoroalkyl Substances (PFAS) Strategic Roadmap, which contains a timeline for planned agency activities on PFAS for the next three years.

On June 15, 2022, the EPA issued four drinking water health advisories for PFAS at near zero levels. The EPA has set interim updated Lifetime Health Advisory Levels (HALs) of 0.004 parts per trillion (ppt) (or 4 parts per quadrillion) for perfluorooctanoic acid (PFOA) and 0.02 ppt for perfluorooctane sulfonic acid (PFOS). Previous HALs for PFOA and PFOS were 70 ppt. The EPA has also established final HALs of 10 ppt for hexafluoropropylene oxide dimer acid and its ammonium salt (GenX Chemicals) and 2,000 ppt for perfluorobutane sulfonic acid and its potassium salt. (PFBS).

The EPA recognizes that the new HALs for PFOA and PFOS are below the level of detection (determination of the presence of a substance) and quantification (ability to reliably determine the amount of a substance present) according to the currently approved methods of analysis. Therefore, environmental testing laboratories will have both a challenge and an opportunity to develop improved testing methodologies to accurately quantify PFAS concentrations at HAL levels.

Although HALs are not legally enforceable, these significantly reduced levels will inform EPA’s development of National Primary Drinking Water Regulations (NPDWRs) for PFOA and PFOS, which are still expected to be proposed by now. the end of 2022, as well as potential NPDWRs for other PFAS or groups of PFAS. EPA must consider economic factors and technical feasibility when proposing NPDWRs, but the new HALs will guide the establishment of NPDWRs.

To treat groundwater contaminated with PFAS, new HALs can prompt states that have issued or are in the process of issuing groundwater cleanup criteria for these PFAS to consider more stringent levels of remediation. For example, some states have adopted the EPA’s former HAL of 70 ppt as their sanitation standard, while other states have set standards lower than the 70 ppt level, but these standards are now considerably higher than HAL news. It will be interesting to see if states act quickly to adopt or revise their cleaning standards, or instead wait for the EPA to release its proposed NPDWRs (EPA drinking water standards are generally clean water standards underground by default).

The EPA still plans to issue a proposed rule to designate PFOA and PFOS as Comprehensive Environmental Response, Compensation and Liability Act (CERCLA) hazardous substances. Hazardous substance designations would improve the ability of government authorities to obtain information regarding the location and extent of releases of these chemicals, as well as for the EPA, other agencies, and private parties to seek recovery of costs or a contribution to the costs incurred for their cleaning. Meanwhile, on May 18, 2022, the EPA added five PFAS [GenX chemicals, PFOS, PFOA, perfluorononanoic acid (PFNA), and perfluorohexanesulfonic acid (PFHxS)] to the list of Regional Screening Levels (RSLs) and Regional Disposal Management Levels (RMLs), which help the EPA determine whether further investigation or action is needed to protect public health in locations where PFAS are detected. Subsequent HALs issued may prompt the EPA to review these RSLs and RMLs.

Finally, the EPA is working on establishing effluent guidelines and developing analytical methods (EPA Draft Method 1633) and water quality criteria for PFAS in wastewater discharges. ‘waste. As this work continues, the EPA released a memorandum on April 28, 2022, outlining steps that permit writers can implement under the National Pollutant Discharge Elimination System (NPDES) and programs. pre-treatment to improve monitoring arrangements, use draft method 1633 and implement pollution. prevention and best management practices to address PFAS releases at source. The memorandum provides guidance for NPDES permits issued by the EPA and for industrial users where the EPA is the pretreatment controlling authority. However, states that have been authorized by the EPA to issue their own NPDES permits, although not bound by the EPA memorandum, may choose to adopt any or all of its guidelines.

Manufacturers should continue to closely monitor regulatory developments regarding PFAS, which occur at the federal and state levels on a weekly, if not daily, basis. As a threshold, manufacturers must assess whether their operations use PFAS chemicals intentionally or unintentionally. As PFAS come under greater regulatory scrutiny, manufacturers should consider alternatives to these chemicals, where appropriate, as the continued use of PFAS will only become more complicated and expose manufacturers to increasing potential liability. The unique challenges that PFAS pose to manufacturers in the context of real estate and corporate transactions and site remediation were discussed during our free two-part mini-webinar series on June 21-22.

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BCBS warns of real estate risks and leveraged loans https://jinkun.info/bcbs-warns-of-real-estate-risks-and-leveraged-loans/ Mon, 08 Aug 2022 01:34:14 +0000 https://jinkun.info/bcbs-warns-of-real-estate-risks-and-leveraged-loans/ The pandemic and recent inflation have heightened concerns about credit risk. Supervisors observed high-risk and deficient lending practices. Access today Sign up for a 2 week free trial and get instant, unrestricted, unrestricted access to Regulation Asia. FREE TRY Already taken your free trial? Contact our team and inquire about a subscription today. Select subscribe […]]]>

The pandemic and recent inflation have heightened concerns about credit risk. Supervisors observed high-risk and deficient lending practices.

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UK Parliament Refines Crypto Regulation With Latest Inquiry Launched https://jinkun.info/uk-parliament-refines-crypto-regulation-with-latest-inquiry-launched/ Sat, 06 Aug 2022 08:01:06 +0000 https://jinkun.info/uk-parliament-refines-crypto-regulation-with-latest-inquiry-launched/ The All-Party Parliamentary Group (APPG) for the UK Crypto and Digital Assets Sector is seeking industry input for its latest survey of the growing UK crypto asset industry. The inquiry is expected to focus on a range of key areas, including the UK’s current approach to regulating crypto and digital assets, as well as the […]]]>

The All-Party Parliamentary Group (APPG) for the UK Crypto and Digital Assets Sector is seeking industry input for its latest survey of the growing UK crypto asset industry.

The inquiry is expected to focus on a range of key areas, including the UK’s current approach to regulating crypto and digital assets, as well as the government’s plans to make the UK the global home of the investing in crypto.

The current approach of UK regulators, including the bank of englandthe Financial Conduct Authority (CIF) and the Advertising Standards Authority (ASA) regarding crypto and digital assets, the potential of central bank digital currencies (CBDCs) and the potential risks in terms of consumer protection and economic crime are all areas that should be discussed.

The cross-party group, chaired by Dr Lisa Cameronwho is MP for East Kilbride, Strathaven and Lesmahagow, is made up of MPs and Lords from the main political parties and represents a wide range of interests and expertise in financial services, digital and technology.

The group acts as a forum for parliamentarians, policy makers and the UK crypto industry to discuss industry policy and regulation.

Dr Lisa Cameron

Speaking when the investigation was announced, Cameron warns that the UK must not ease off when it comes to crypto. “We are at a critical time for the industry, as global policymakers are also reviewing their approach to crypto and how it should be regulated.”

As part of its investigation, the APPG will investigate the state of the UK crypto industry and recent concerns raised regarding financial crime and advertising.

“It will take into account the growth of crypto over the past few years and the need for regulators and government to keep pace with rapid advances in innovation and technology, as well as determining whether enough is being done in terms of consumer protection,” Cameron continues.

“The group will also look at international examples from other jurisdictions that have already taken steps to regulate the crypto industry.”

As part of its investigation, the APPG invites views from across the industry and said it wants to hear from crypto operators, regulators, industry experts, and government on the need for regulate the sector.

The inquiry is expected to engage in a number of evidence sessions with key stakeholders over the coming months to produce a report of key recommendations to be shared with the Government and Treasury Select Committee in Parliament; who also announced an upcoming survey of the sector.

The APPG investigation comes at a time of heightened scrutiny of the UK crypto and digital asset sector.

In April of this year, Her Majesty’s Treasury announced plans to make the UK the global home for crypto investment, seeking to attract crypto businesses to the UK and boost the UK’s tech and fintech sector, creating jobs and growing enhancing skills and talents.

Research of HMRC in July 2022 also showed that 10% of UK adults currently hold or have held a crypto-asset, a figure that has increased from the 5.7% recorded in January 2021 by the FCA.

CryptoUKthe UK’s independent trade association which represents over 100 members across the crypto industry and also serves as the secretariat for the APPG, welcomed the launch of the survey.

Ian Taylor, Chief Executive of CryptoUK.
Ian Taylor

“We welcome the announcement of the APPG survey and are delighted that policymakers are realizing the huge potential the UK has for economic growth, jobs and skills from a crypto and asset sector. correctly regulated”, comments Ian Taylorchief executive of CryptoUK.

“The government has said it wants the UK to be the global home for crypto investment and the focus now needs to be on how the UK can deliver on that commitment.

“The UK crypto sector recognizes the importance of a well-regulated industry in the UK and supports regulation that provides commercial certainty and encourages a healthy and robust market. We want to see a proportionate approach to regulation that balances the need to protect consumers with the need to support innovation and growth.

The APPG invites interested parties to submit their written comments until September 5, 2022.

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Planning experts warn overhaul of housing regulations should not be led by developers – The Irish Times https://jinkun.info/planning-experts-warn-overhaul-of-housing-regulations-should-not-be-led-by-developers-the-irish-times/ Thu, 04 Aug 2022 18:02:56 +0000 https://jinkun.info/planning-experts-warn-overhaul-of-housing-regulations-should-not-be-led-by-developers-the-irish-times/ Planning and housing experts have warned that while a review of planning regulations is needed in Ireland, it should not be led by developers. Former Housing Agency chairman Conor Skehan said developers did not have the final say. Mr Skehan was speaking on Newstalk’s Pat Kenny program following a report in The Irish Times that […]]]>

Planning and housing experts have warned that while a review of planning regulations is needed in Ireland, it should not be led by developers.

Former Housing Agency chairman Conor Skehan said developers did not have the final say.

Mr Skehan was speaking on Newstalk’s Pat Kenny program following a report in The Irish Times that Housing Minister Darragh O’Brien has been told that smaller gardens, a dramatic reduction Flats and more tightly built streets are the ‘game-changing’ plan to solve Ireland’s housing crisis.

Glenveagh Properties, one of the state’s largest homebuilders, presented the minister with a plan to overhaul existing regulations to allow developers to reduce the distance between the rears of homes by more than a quarter.

An existing guideline of 22m backdoor to backdoor dates from the 1900s, when it was needed to allow outhouses, solid fuel storage and growing vegetables, the developer told Mr O’Brien .

He urges a reduction to 16m as part of a master plan for more “low-rise, high-density” developments in mostly suburban areas across the country, which he says would be the “biggest game changer in house building in Ireland”.

Architect Joe Kennedy said the 22m decision was a Victorian idea “to do with prudish privacy”. It was a measure that was no longer necessary, he confided to the Pat Kenny show.

The size of the garden was not the most important part of a house, he said, and the quality of design and space was more important.

“Everything is linked to the quality of the space, including the shared space. It’s not a black and white comparison,” he said.

“Developers shouldn’t dictate policy, but the proposal has merit and is worth considering.”

Mr. Skehan added that this was an important topic that had been raised by Glenveagh. Regular review of regulations is important, he said, but it is also important that society is protected from the excesses of capitalism.

“We’re being pulled into this by developers who are taking advantage of it, it’s not for the good of society, it’s to increase yield and profitability,” he said. “Being led by the primary beneficiaries is not the way to go. The developers do not have the last word.

Planning consultant Tom Philips told RTÉ Radio’s Today program that planning standards in Ireland were very rigid and Glenveagh’s proposal said ‘look at what they are doing elsewhere. It is much more than reducing the size of gardens.

Rory Hearne, a social studies professor and author, said it was important to consider Glenveagh’s proposals in the context of the current housing crisis.

“People don’t want to live in buildings that are extremely expensive to build,” he said.

The problem with the housing policy of the past 20 years was that it had been driven by the interests of developers who were the only ones building houses, he said.

The proposal needed careful consideration and proper research, he said, and Glenveagh’s claim that cutting gardens would reduce the cost of homes was not accurate and the cost was identified by the market.

Mr Hearne said the houses were going to sell for a price people were willing to pay.

“It’s not just about the size of the house or the garden, it’s about the cost and other factors,” he added. The Land Development Agency, local authorities and housing bodies must speed up construction so the country is not so dependent on developers, he said.

In its report, Compact Growth Design Standards, Glenveagh cites ‘focus groups’ claiming that the back third of gardens is generally ‘dead space’ or ‘underutilized’.

The company also claims that there is no demand for flats outside Dublin’s M50 and limited demand inside the capital’s busiest ring road and that the cost of building flats outweighs the benefits.

“Apartment living is still necessary in city centres,” said Glenveagh chief executive Stephen Garvey.

“But when you look at suburban housing, or, say, some of the bigger cities outside of Dublin City – an apartment costs €450,000 to build in one of those cities? Who would buy it and who can afford it?

“It’s not the cost of land, it’s the cost of apartments when we could build houses that is the main problem.”

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Standard E-regulation forms are not always a safe harbor | Cadwalader, Wickersham & Taft LLP https://jinkun.info/standard-e-regulation-forms-are-not-always-a-safe-harbor-cadwalader-wickersham-taft-llp/ Tue, 02 Aug 2022 17:41:08 +0000 https://jinkun.info/standard-e-regulation-forms-are-not-always-a-safe-harbor-cadwalader-wickersham-taft-llp/ In an opinion written by Circuit Judge for the U.S. District of Delaware, Stephanos Bibas, which begins “A good model serves as a guide, not a gospel,” Del-One Federal Credit Union was denied safe harbor typically offered through the use of model forms in a potential class action lawsuit regarding its overdraft charges. The model […]]]>

In an opinion written by Circuit Judge for the U.S. District of Delaware, Stephanos Bibas, which begins “A good model serves as a guide, not a gospel,” Del-One Federal Credit Union was denied safe harbor typically offered through the use of model forms in a potential class action lawsuit regarding its overdraft charges.

The model language in question (found in Appendix A-9 of Regulation E) states that “an overdraft occurs when you do not have enough money in your account to cover a transaction, but we let’s pay anyway.” However, the credit union had an atypical overdraft fee policy that required customers to pay fees even when they still had sufficient funds in their account for current transactions, but did not have enough funds in their account to also cover anticipated future transactions, such as a utility bill. Fees were charged to customers whether or not they deposited funds in time to sufficiently cover those future bills, and even though the credit union never had to “disburse anything” on behalf of the customer. Thus, the fee was charged in contradiction to the standard wording which stated that the fee would only be charged when the credit union had paid for the transaction, despite having insufficient funds in the account.

This case is a great reminder to all financial institutions using model language to ensure that their policies conform to the model language and not simply assume that the language will provide liability and class action protection.

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US and UK Regulators Team Up for Broader Crypto Regulation – Bitcoin Regulation News https://jinkun.info/us-and-uk-regulators-team-up-for-broader-crypto-regulation-bitcoin-regulation-news/ Mon, 01 Aug 2022 00:30:13 +0000 https://jinkun.info/us-and-uk-regulators-team-up-for-broader-crypto-regulation-bitcoin-regulation-news/ Regulators in the US and UK have met to discuss broader crypto regulatory initiatives. They reaffirmed their commitment to “continue cooperation to support safe financial innovation, as well as to strengthen regulatory outcomes for stablecoins in all jurisdictions.” US and UK Regulators Collaborate on Crypto Regulation The US Treasury Department released a joint statement on […]]]>

Regulators in the US and UK have met to discuss broader crypto regulatory initiatives. They reaffirmed their commitment to “continue cooperation to support safe financial innovation, as well as to strengthen regulatory outcomes for stablecoins in all jurisdictions.”

US and UK Regulators Collaborate on Crypto Regulation

The US Treasury Department released a joint statement on the UK-US Financial Regulation Task Force last week.

The group held a meeting on July 21. Attendees included officials and senior executives from HM Treasury, the Bank of England, the Financial Conduct Authority, the US Treasury Department, the Federal Reserve Board, the Commodity Futures Trading Commission (CFTC), the Federal Deposit Insurance Corporation (FDIC), the Office of Comptroller of the Currency (OCC) and the Securities and Exchange Commission (SEC).

The statement explains that the Financial Regulation Working Group was formed in 2008 “to deepen bilateral regulatory cooperation with a view to further promoting financial stability; investor protection; fair, orderly and efficient markets; and capital formation in both jurisdictions.

On the topic of financial innovation, regulators reflected on the outcomes of the US-UK Financial Innovation Partnership meeting in June. They exchanged views on “crypto-asset regulation and recent market developments, including those related to stablecoins, and exploration of central bank digital currencies (CBDCs),” the Treasury detailed, specifying:

All participants pledged to continue their cooperation to support safe financial innovation, as well as to strengthen regulatory outcomes for stablecoins in all jurisdictions.

“Participants also considered future opportunities for deeper discussions on broader crypto-asset regulatory initiatives,” the Treasury added.

Regulators in the United States and United Kingdom “recognized the continued importance of the ongoing partnership on global financial innovation and recognized the importance of maintaining and continuing multilateral discussions on these topics,” the statement concluded. .

Chief Executive of the UK’s Financial Conduct Authority, Nikhil Rathi, said in July: “The US and UK will deepen their ties on crypto-asset regulation and market developments, including when it comes to stablecoins and exploring central bank digital currencies.”

The UK government outlined its legislative agenda, including “the safe adoption of cryptocurrencies”, in the Queen’s Speech in May. He also has a plan to make the country a global crypto hub and “a hospitable place for crypto,” including establishing a vibrant regulatory framework for crypto, regulating stablecoins, and working with the Royal Mint to create a non-fungible token (NFT). Last week, the country’s Law Commission, an independent statutory body, released proposals to reform digital asset laws.

Keywords in this story

Crypto Regulation, USUK, UK, US, US UK, US UK Collaboration, US UK Collaboration, US UK Cooperation, Cryptocurrency Regulation United States United Kingdom, Partner United States United Kingdom, Partnership United States United Kingdom, Working Group United States United Kingdom

What do you think of regulators in the US and UK working together on broader crypto regulatory initiatives? Let us know in the comments section below.

Kevin Helms

An economics student from Austria, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection between economics and cryptography.

Image credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This is not a direct offer or the solicitation of an offer to buy or sell, or a recommendation or endorsement of any product, service or company. Bitcoin.com does not provide investment, tax, legal or accounting advice. Neither the company nor the author is responsible, directly or indirectly, for any damage or loss caused or alleged to be caused by or in connection with the use of or reliance on any content, goods or services mentioned in this article.

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Gun control bill attracts supporters and opponents to testify https://jinkun.info/gun-control-bill-attracts-supporters-and-opponents-to-testify/ Fri, 29 Jul 2022 17:42:17 +0000 https://jinkun.info/gun-control-bill-attracts-supporters-and-opponents-to-testify/ Rockville resident Eric Greynolds grew up in Texas, which he described as a “beautiful” state filled with “wonderful” people. Texas is also a state with lax gun laws that have become even weaker due to legislation making it easier for civilians to carry concealed firearms in public, he told the Council of Montgomery County during […]]]>

Rockville resident Eric Greynolds grew up in Texas, which he described as a “beautiful” state filled with “wonderful” people.

Texas is also a state with lax gun laws that have become even weaker due to legislation making it easier for civilians to carry concealed firearms in public, he told the Council of Montgomery County during the public hearing portion of its meeting this week.

“A lot of people are left behind when they attend public gatherings because they don’t know which stranger among them might be armed,” Greynolds said.

Now a “proud” Marylander, Greynolds said he volunteers with the Maryland chapter of Moms Demand Action, a grassroots organization fighting for public safety measures to protect people from gun violence. He spoke in favor of a gun control bill at Tuesday’s council meeting.

The bill, introduced July 12 by Council Chairman Gabe Albornoz, states that a person shall not “sell, transfer, possess or transport” any type of ghost weapon, rifle, shotgun, ammunition or component adult with a firearm within 100 meters of a public meeting place. Council staff defines public gathering place as parks, churches, schools and similar public buildings and spaces.

Critics of the proposed bill say it would unfairly penalize law-abiding gun owners and would not survive legal challenges, especially given the recent Supreme Court ruling in the case. New York State Rifle & Pistol Association, Inc., et al. vs. Brun.

County Executive Marc Elrich told reporters earlier this month that he and the county attorney’s office would work with the council if it is determined that the proposed bill needs to be changed.

The council’s public safety committee is expected to schedule a working session on the bill when the council returns in September after its summer vacation, which begins next week.

Greynolds said the Supreme Court’s recent decision in the Bruen case means Marylanders may face some of the negative outcomes Texans are currently experiencing.

“An armed society is a fearful society,” he said. “An armed society is a more violent society, and an armed society is not the community we want to build in Montgomery County, Maryland.”

Giselle Morch of Silver Spring, who also testified in support of the proposed bill, volunteers with Moms Demand Action and Everytown Survivor Network, two groups working to end gun violence.

She said her only son, Jaycee, was shot in the chest five years ago. Prior to that, he was injured when he was shot in the leg at a 7-Eleven in Takoma Park, she said.

“A growing body of research shows that when it’s easier for people to carry guns in public, violent crime increases,” Morch said.

Other community members, however, testified against the proposed bill.

County resident and business owner Eli Shemony said he was responsible for security at his Rockville synagogue. Six years ago, synagogue members decided to get concealed carry permits, firearms and training because they were unhappy with the response from county police.

He said the bill, if approved by the council, would make him a “criminal”.

“On days when we have to carry guns to defend ourselves as Jews in a synagogue, we risk being arrested because we are probably 100 yards from a public gathering place,” Shemony said.

Christine Zhu of Gaithersburg, a rising junior at the University of Maryland studying journalism and Spanish, is Bethesda Beat’s summer intern.

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Ron DeSantis plans to regulate ‘woke CEOs’ https://jinkun.info/ron-desantis-plans-to-regulate-woke-ceos/ Wed, 27 Jul 2022 23:46:00 +0000 https://jinkun.info/ron-desantis-plans-to-regulate-woke-ceos/ Florida Governor Ron DeSantis (right) gave a briefing on Wednesday detailing his plan to regulate what he calls “woke CEOs”. In front of a banner reading “Rule of Laws, Unawakened CEOs,” DeSantis said, “The harnessing of corporate power to impose an ideological agenda on society is an alarming trend.” “Do we govern ourselves by our […]]]>

Florida Governor Ron DeSantis (right) gave a briefing on Wednesday detailing his plan to regulate what he calls “woke CEOs”. In front of a banner reading “Rule of Laws, Unawakened CEOs,” DeSantis said, “The harnessing of corporate power to impose an ideological agenda on society is an alarming trend.”

“Do we govern ourselves by our constitution and by our elections or do we have these masters of the universe occupying these commanding heights of society?” DeSantis said at the press conference, covered by Florida news outlet The Free Press. “For every master of the universe talking about, you know, no shows and stuff, I don’t see a lot of them ditching their private jets,” he continued.

“Governor Ron DeSantis denounces ‘woke capital’ and ESG, Forbes says in a Tweet, along with footage from the briefing.

The three main components of DeSantis’ plan are:

Prohibit major banks, credit card companies and money transfer companies from discriminating against customers based on their religious, political or social beliefs.

Prohibit State Board of Administration (SBA) fund managers from considering ESG factors when investing state money.

Require SBA fund managers to only consider maximizing return on investment on behalf of Florida retirees.


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“From Wall Street banks to huge asset managers and big tech companies, we’ve seen the corporate elite use their economic power to impose policies on the country that they couldn’t achieve at the ballot box,” DeSantis said Wednesday. “Through the actions I announced today, we are protecting Floridians from woke capital and asserting the authority of our constitutional system over corporate ideological power.”

Read more

about this topic

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Colombian Regulator Calls for Public Comment on Digital Asset Regulation https://jinkun.info/colombian-regulator-calls-for-public-comment-on-digital-asset-regulation/ Sun, 24 Jul 2022 07:00:21 +0000 https://jinkun.info/colombian-regulator-calls-for-public-comment-on-digital-asset-regulation/ The Financial Superintendence of Colombia (also Superintendencia Financiera de Colombia – SFC) has published a new proposal for the regulation of virtual asset service providers (VASP). In the draft, the SFC outlined the compliance requirements that regulated banks that seek to allow their customers to link their accounts directly with digital asset companies that are […]]]>

The Financial Superintendence of Colombia (also Superintendencia Financiera de Colombia – SFC) has published a new proposal for the regulation of virtual asset service providers (VASP).

In the draft, the SFC outlined the compliance requirements that regulated banks that seek to allow their customers to link their accounts directly with digital asset companies that are not regulated by it must meet.

On the one hand, before joining forces with a PSAV, banks must ensure that the company is registered in the online reporting system of the Financial Information and Analysis Unit (UIAF). VASPs should also have AML/CFT measures and risk management tools; have the technological and operational capacity to monitor, record and transmit transactions with virtual assets; and submit mandatory reports to the central bank.

After establishing a link with VASPs, banks are also mandated to ensure that their customers’ names match on both platforms and provide consumers with adequate information on the risks of investing in digital assets.

“In this sense, the supervised entities must have mechanisms in place to validate that the financial consumer knows and is sufficiently informed of the risks of the operation of buying and selling virtual assets and of the role of the supervised entity in this operation,” the project says. .

The proposal is open for public comment until August 12, 2022, in accordance with the notice on the SFC website. A form is provided for submitting comments.

Colombia Expands Digital Asset Regulations to Accelerate Adoption

Notably, the proposed regulations follow standards first approved in 2020 under an experimental regulatory regime in Colombia.

Called the digital asset regulatory “sandbox,” the experiment that began in 2021 saw up to 10 banks form alliances with local and international digital asset exchanges to allow their customers to link their accounts.

As part of this project, the largest Colombian bank, Bancolombia, has reached an agreement with the New York stock exchange Gemini. Binance has also entered into an agreement with Davivineda, the third largest bank in Colombia, to allow customers to purchase a limited number of digital assets directly from their bank accounts.

Meanwhile, lawmakers in the Latin American country have also introduced a digital asset regulation bill that will see VASPs adopt a new registration regime. According to Reuters, Mexican stock exchange Bitso was one of the first companies to receive its license to operate in Colombia under this regime.

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