The European Commission's proposed takeover of third-country clearinghouse oversight could prompt an adverse response from the US, said Kay Swinburne, vice chair of the European Parliament Committee on Economic and Monetary Affairs. "It is causing huge concern that is paving the way for retaliatory regulatory action," Swinburne told an Association of Financial Markets in Europe conference. Risk (subscription required) (22 Mar.)
US stock indexes plunged to levels not seen since the February sell-off after President Donald Trump said he will impose tariffs on goods imported from China and China announced it will retaliate. Traders wary of an impending trade war diverted money from stocks into the Treasury market, which is seen as a safe haven during market volatility. Bloomberg (free registration) (22 Mar.)
France wants to become a hub for initial coin offerings and plans to create a legal framework for managing them, Finance Minister Bruno Le Maire wrote on a news website. Within a few weeks, the government will propose granting its market regulator the power to authorize initial coin offerings. Reuters (22 Mar.)
The cookie settings on this website are set to "allow cookies" to give you the best browsing experience possible. If you continue to use this website without changing your cookie settings or you click "Accept" below then you are consenting to this.