Cboe Global Markets has withdrawn from the Securities and Exchange Commission a request for a rule change to allow listing of the VanEck SolidX Bitcoin Trust. The SEC had postponed a decision several times on whether to authorize the exchange-traded fund. CoinDesk (UK) (18 Sep.)
The US Federal Deposit Insurance Corp. has proposed reducing by potentially $40 billion the amount large banks must hold to cover derivatives trades between affiliates. The FDIC has also proposed postponing a requirement that small funds post margin for derivatives trades, in line with a delay to September 2021 from the Basel Committee on Banking Supervision, and letting banks transition to the Secured Overnight Financing Rate without a need to treat trades as new transactions. Reuters (17 Sep.)
International coordination will become more crucial to preserve financial stability as financial technology becomes widespread, Bank for International Settlements General Manager Agustin Carstens says. "In the future, what now looks desirable may become essential," he says. MLex (subscription required) (17 Sep.)
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