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REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsWASHINGTON, Nov 7 (Reuters) - The top U.S. consumer financial watchdog on Tuesday proposed to regulate tech giants' digital payments and smartphone wallet services, saying they rival traditional payment methods in scale and scope but lack consumer safeguards. In a statement on Tuesday, Chopra said the tech sector had expanded into financial services traditionally provided by the closely regulated banking sector. "Today's rule would crack down on one avenue for regulatory arbitrage by ensuring large technology firms and other nonbank payments companies are subjected to appropriate oversight," he said. Representatives of Big Tech companies have previously highlighted their efforts to protect consumer data. The agency said the rule would also foster competition by ensuring that both traditional financial players and the tech sector were equally subject to the same oversight.

Persons: Dado Ruvic, Block's, CashApp, Rohit Chopra, Chopra, CFPB, Lindsey Johnson, Douglas Gillison, Hannah Lang, Chris Prentice, Matthew Lewis, Mark Potter, David Gregorio Our Organizations: PayPal, REUTERS, Rights, Consumer, Apple, Big Tech, Consumer Bankers Association, Electronic Transactions Association, Thomson Locations: Washington, New York

A bitcoin is seen in an illustration picture taken at La Maison du Bitcoin in Paris, France, June 23, 2017. REUTERS/Benoit Tessier/File Photo Acquire Licensing RightsOct 23 (Reuters) - Bitcoin, the world's largest cryptocurrency, hit a three-month high on Monday, rising 4.73% to $31,420 amid investor enthusiasm about the possibility of a spot bitcoin exchange-traded fund. The rise in bitcoin sent shares of cryptocurrency and blockchain-related companies such as Coinbase Global (COIN.O) and Marathon Digital Holdings (MARA.O) up 6.5% and 11.9% respectively. Bitcoin is up more than 18% from the year's low of $26,533 on Oct. 11. Bitcoin briefly soared on Oct. 16 following an erroneous news report about asset manager BlackRock's high-profile application for a spot bitcoin ETF, which would track the underlying price of the token.

Persons: Benoit Tessier, bitcoin, Bitcoin, Zach Pandl, Treasuries, BlackRock's, Matteo Greco, Fineqia, Hannah Lang, Kanjyik Ghosh, Krishna Chandra Eluri, Jonathan Oatis Organizations: La Maison du, REUTERS, Marathon Digital Holdings, Hamas, U.S . Securities, Exchange Commission, BTC, Thomson Locations: La, Paris, France, cryptocurrency, Washington, Bengaluru

A bronze seal for the Department of the Treasury is shown at the U.S. Treasury building in Washington, U.S., January 20, 2023. If finalized, the rule would require financial firms to report information about transactions that they suspect involve crypto mixers, which are anonymized software tools that allow users to conceal the source or owner of digital assets. * On Wednesday, the Biden administration issued sanctions to disrupt Hamas' funding, which included a Gaza-based crypto exchange. * The U.S. last year imposed sanctions on crypto mixers Tornado Cash and Blender. Reporting by Hannah Lang in Washington; editing by Michelle Price and Deepa BabingtonOur Standards: The Thomson Reuters Trust Principles.

Persons: Kevin Lamarque, Biden, ”, Wally Adeyemo, Hannah Lang, Michelle Price, Deepa Babington Organizations: Department of, U.S . Treasury, REUTERS, U.S . Treasury Department’s, Hamas, U.S ., Reuters, U.S, Convertible, Thomson Locations: Washington , U.S, Israel, Gaza, Washington

☆ These 53 college towns 'eat the most Chipotle' — and the chain will reward them by staying open until midnight on Halloween
▼ + stars: | 2023-10-18 | by ( Nancy Luna | ) www.businessinsider.com time to read: +5 min

Chipotle said it plans to keep 53 college-town stores open until midnight on Halloween. The chain said it is targeting college towns popular with Gen Z, a group that likes to eat late. But instead of going national with its late-night business, Chipotle is targeting "college towns that eat the most Chipotle," the chain announced Wednesday. The fresh-Mex chain, which has more than 3,250 restaurants, said 53 college towns will stay open until midnight on Halloween – a busy night for the brand. "Over the past two years, Chipotle has seen a 30 percent increase in transactions after 8 p.m. on Halloween and 81 percent of 18- to 26-year-olds surveyed reported wanting to see Chipotle open until midnight," the chain said.

Persons: Chipotle, Gen Z, —, Gen, Wendy's, Ann Arbor Organizations: Service, Nation's Restaurant, Way, University Avenue South, Fowler, Boulevard Georgia, Ponce De, State Street, College, Salisbury, State Street East, Street New, Broadway, Tryon, Franklin, Court Street Oxford, Clifton, Clemson, Street, State, Montgomery, Ogden Locations: North Carolina , Ohio, Florida, Alabama, Tuscaloosa, Arizona, Tempe, Flagstaff, Way California, La Jolla, Berkeley, Angeles, Colorado, Boulder, Gainesville, University Avenue South Miami, Tampa, Orlando, Atlanta, Ponce, Ponce De Leon Ave, Athens, Illinois, Champaign, Indiana, West Lafayette, State Street Bloomington, Kirkwood Avenue Louisiana, Baton Rouge, Maryland, Salisbury, Salisbury Boulevard Michigan, State Street East Lansing, Minnesota, Minneapolis, Mississippi Oxford, Missouri, Columbia, Street New York, Vestal, York, Broadway North Carolina, Raleigh, Charlotte, Greenville, Wilmington, Ohio, Columbus, Cincinnati, Dayton, Oklahoma, Carolina, Tennessee, Nashville, Knoxville, Avenue Texas, Waco, Lubbock, Pennsylvania, Philadelphia, Utah, Salt Lake City, Wisconsin, Madison, Street Milwaukee, Ogden Avenue Washington

Israeli police said in an Oct. 10 statement that it had frozen several crypto accounts that were used to solicit donations for Hamas. Reuters reported in May that Israel had seized around 190 crypto accounts at crypto exchange Binance since 2021, including dozens it said were owned by Palestinian firms connected to Hamas. Hamas uses a global financing network to funnel support from charities and friendly nations, including by using cryptocurrencies, Reuters reported on Monday. The lawmakers requested that the Biden administration provide estimates on the value of crypto assets that remain in Hamas-controlled wallets, how much of Hamas’ operations are funded through crypto, and any information it has on the actors facilitating the sending of crypto to and from Hamas and other militant groups. Reporting by Hannah Lang in Washington; editing by Michelle Price and Bill BerkrotOur Standards: The Thomson Reuters Trust Principles.

Persons: Elizabeth Warren, Julia Nikhinson, Biden, Senators Elizabeth Warren, Roger Marshall, Sean Casten, Israel, Binance, Hannah Lang, Michelle Price, Bill Berkrot Organizations: Intelligence, U.S, Capitol, REUTERS, Hamas, U.S . Treasury Department, White, Senators, Reuters, TRM Labs, Thomson Locations: Washington , U.S, cryptocurrencies, Israel, Hamas, Washington

Smartphone with displayed Coinbase logo and representation of cryptocurrencies are placed on a keyboard in this illustration taken, June 8, 2023. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsCompanies Coinbase Global Inc FollowOct 3 (Reuters) - The U.S. Securities and Exchange Commission (SEC) on Tuesday asked a federal judge to deny a motion from Coinbase Global (COIN.O) to dismiss the regulator's lawsuit against the cryptocurrency exchange. THE TAKETuesday's filing showed that the SEC is seizing on the Terraform Labs ruling to raise questions about the ruling in the Ripple case, which the crypto industry had hailed as a victory. THE CONTEXTThe SEC sued Coinbase in June, accusing it of operating illegally as a national securities exchange, broker and clearing agency without registering with the regulator. Thus, the Motion hinges on whether Coinbase intermediated transactions involving investment contracts, and thus securities.

Persons: Dado Ruvic, Coinbase, Paul Grewal, Hannah Lang, Chris Prentice, Jonathan Stempel, Cynthia Osterman, Stephen Coates Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, Coinbase, Ripple Labs, Terraform Labs, Terraform, Thomson Locations: Manhattan, Washington, New York

REUTERS/David 'Dee' Delgado/ Acquire Licensing RightsOct 3 (Reuters) - The global cryptocurrency market remains badly scarred following the tumultuous collapse of crypto exchange FTX and other big players last year, with crypto prices, volumes and venture capital investment well below their 2021 peaks. BITCOIN BLUESBitcoin, by far the biggest cryptocurrency and the chief barometer for crypto market sentiment, has bounced back about 37% since Nov. 1. Reuters Image Acquire Licensing RightsCRUMBLING MARKET CAPAfter peaking at $3 trillion in November 2021, the value of the overall crypto market plummeted through 2022, hitting a two-year low of $796 billion as FTX imploded. Yet the relative calm in crypto markets is not necessarily a good thing, said some market participants, noting that many investors are attracted to crypto precisely because of its volatility, which offers opportunities to make quick profits. Reuters GraphicsVC CRYPTO BETS TUMBLEVenture capital (VC) investments flooded into crypto during its boom year of 2021, and even through 2022.

Persons: Damian Williams, Samuel Bankman, David, Dee, Delgado, Sam Bankman, FTX, cryptocurrencies, Bitcoin, bitcoin, Ben Laidler, Usman Ahmad, Anders Kvamme Jensen, Robert Le, CCData, Noelle Acheson, Hannah Lang, Elizabeth Howcroft, Tom Wilson, Michelle Price, Andrea Ricci Organizations: REUTERS, Capital, Silvergate Bank, BlackRock, Reuters, Zodia, Chartered, Reuters Graphics, U.S, Venture, Thomson Locations: New York City, U.S, New York, Singapore, London, Washington

REUTERS/Andrew Kelly/File Photo Acquire Licensing RightsOct 3 (Reuters) - Former FTX chief operating officer Constance Wang agreed to serve as a witness for U.S. prosecutors in their case against the crypto exchange's founder and former CEO Sam Bankman-Fried, according to Michael Lewis' new book on FTX's collapse. "Going Infinite: The Rise and Fall of a New Tycoon" hit the shelves as Bankman-Fried's criminal trial began in Manhattan on Tuesday. While the U.S. prosecutors have said they plan to call a handful of Bankman-Fried's former inner circle to testify, Wang has not been named among them. Wang joined FTX in 2019 from rival crypto exchange Huobi as its eighth employee, and often accompanied Bankman-Fried to meetings in which Mandarin was spoken, Lewis said. Prosecutors have said they plan to call former Alameda chief executive Caroline Ellison, former FTX technology chief Gary Wang, and former engineering chief Nishad Singh to testify.

Persons: Sam Bankman, Andrew Kelly, Constance Wang, Michael Lewis, FTX, Fried, Wang, Lewis, Caroline Ellison, Gary Wang, Nishad Singh, Hannah Lang, Luc Cohen, Michelle Price, Matthew Lewis Organizations: FTX, Manhattan, REUTERS, Alameda Research, U.S, Prosecutors, Alameda, Thomson Locations: New York City, U.S, Manhattan, Bahamas, Caribbean, Washington, New York

[1/7] An abandoned vehicle sits in floodwaters during a heavy rain storm in the New York City suburb of Mamaroneck in Westchester County, New York, U.S., September 29, 2023. The extreme rainfall prompted New York Governor Kathy to declare a state of emergency for New York City, Long Island, and the Hudson Valley. Systems producing intense rainfalls have become more commonplace in many parts of the United States, including the New York City area, in recent years. That storm soaked New York City and caused widespread power outages in North Carolina, Virginia, Pennsylvania and New Jersey. In New York, intermittent rain this week further saturated the ground, setting up conditions conducive to flash flooding.

Persons: Mike Segar, John F, Zack Taylor, Taylor, Kathy, Carlos Ogando, Ophelia, Jonathan Allen, Brendan O'Brien, Rich McKay, Frank McGurty, Jonathan Oatis Organizations: New, REUTERS, Kennedy International Airport, National Weather Service, Center, Metro North, Metropolitan Transportation Agency, Systems, Thomson Locations: New York City, Mamaroneck, Westchester County , New York, U.S, Brooklyn, Manhattan, Queens, College Park , Maryland, Long, Hudson, United States, New York, East, Bronxville, New York's Westchester County, Hoboken, New Jersey, North Carolina , Virginia, Pennsylvania, In New York, Chicago, Atlanta

Crypto companies have been expanding in Washington to combat growing regulatory scrutiny, especially from the SEC which says the industry has been flouting its rules. "Everybody wants to make sure that what they're doing isn't going to be erased by the government," said Kara Calvert, head of U.S. policy at Coinbase, referring to the crypto industry. A House vote before year-end is possible, but the outlook is dimmer in the Senate, where industry-friendly crypto bills have failed to gain traction. And Senate Banking Committee Chair Sherrod Brown of Ohio has shown little interest in making it a priority to advance the House bills. "The last thing we need is for the crypto industry to write their own rulebook — too many Ohioans have been burned by fraud and scams," said Brown in a statement to Reuters.

Persons: Dado Ruvic, Katherine Dowling, Coinbase, OpenSecrets, Brian Armstrong, Kara Calvert, Mark Hays, Sherrod Brown of, Brown, Ian Katz, Hannah Lang, Michelle Price, Richard Chang Organizations: REUTERS, Coinbase, Financial, National Defense, U.S . Securities, Exchange Commission, SEC, Binance, Reuters, OpenSea, Financial Reform, Senate, Capital Alpha Partners, Thomson Locations: Washington, NFTs, Sherrod Brown of Ohio, Ohio

A representation of the cryptocurrency is seen in front of Coinbase logo in this illustration taken, March 4, 2022. REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsSept 19 (Reuters) - Coinbase (COIN.O), the largest U.S. cryptocurrency exchange, is stepping up its grassroots advocacy campaign in a bid to advance legislation that will provide regulatory clarity for the industry, the company said. Coinbase estimates there are 52 million crypto owners in the U.S. Coinbase last month started a non-profit, Stand With Crypto, to advance pro-crypto policy. That group has recently held events in Ohio, Nevada, Georgia and Montana that have "tested the capacity to organize crypto advocates,” Coinbase said in a blog.

Persons: Dado Ruvic, Coinbase, “ Crypto, Kara Calvert, ” Coinbase, Hannah Lang, Michelle Price, Timothy Gardner Organizations: REUTERS, U.S . House, Representatives, Capitol, U.S, U.S . Securities, Exchange Commission, Thomson Locations: U.S, Washington ,, Washington, Ohio , Nevada , Georgia, Montana

Sept 19 (Reuters) - Bitcoin isn't the only asset experiencing a late summer slump. It has shrunk by almost a tenth this year, standing at $124.4 billion as of Sept. 14. A jump in the dollar index on interest rate hikes last year was accompanied by a big rise in stablecoin volumes, he added. Yet all is not equal: Dollar-pegged Tether, the biggest stablecoin, is bucking the losing trend. Reporting by Hannah Lang in Washington; Editing by Michelle Price and Pravin CharOur Standards: The Thomson Reuters Trust Principles.

Persons: James Butterfill, CoinGecko, Paolo Ardoino, Paxos, USDC, TerraUSD, Dante Disparte, it's, Hannah Lang, Michelle Price Organizations: U.S ., New York Department of Financial Services, U.S, Silicon, Bank —, Thomson, Reuters Locations: South America, Central Asia, U.S, Washington

Wenner, co-founder and publisher of Rolling Stone magazine, speaks at the 32nd Annual Rock & Roll Hall of Fame Induction Ceremony - Show – New York City, U.S., 07/04/2017 – Publisher Jann Wenner. REUTERS/Lucas Jackson/File Photo Acquire Licensing RightsWASHINGTON, Sept 17 (Reuters) - Rolling Stone magazine co-founder Jann Wenner was removed from his position on the Rock & Roll Hall of Fame's board of directors after comments he made about Black and female artists that were widely criticized, the hall said in a statement. In a terse statement, the Cleveland-based Hall of Fame offered no reason for its move, saying, "Jann Wenner has been removed from the Board of Directors of the Rock & Roll Hall of Fame Foundation." Wenner, 77, said Black and female musicians were not "as articulate" as the others he chose to profile. Reporting by Hannah Lang in Washington; Editing by Scott Malone and Sandra MalerOur Standards: The Thomson Reuters Trust Principles.

Persons: Wenner, Jann Wenner, Lucas Jackson, Mick Jagger, Bob Dylan, Black, Hannah Lang, Scott Malone, Sandra Maler Organizations: Rolling Stone, Roll Hall, REUTERS, Rights, Stone, Roll, of Fame, Roll Hall of Fame Foundation, New York Times, Roll Hall of Fame, Thomson Locations: York City, U.S, Cleveland, Washington

With retail investors holding individual stocks for less than a year on average, recent history suggests they could lose money, a Reuters analysis shows. Even institutional investors invited to buy into those 10 IPOs before trading would be down an average of 18%. "For almost all retail investors, buying and holding a low-cost index fund is the best strategy." Arm's debut and an upcoming listing from grocery delivery service Instacart are expected to rejuvenate a lackluster IPO market which has slowed over the past two years due to volatility and economic uncertainty. Instacart will be offering some retail investors a chance to buy into its IPO via underwriter fintech company SoFi, its prospectus said.

Persons: Dado Ruvic, Japan's SoftBank Group's, Jay Ritter, Marco Iachini, it's, Ritter, Lance Tupper, Anirban Sen, Echo Wang, Michelle Price, Richard Chang Organizations: REUTERS, Retail, Holdings, Reuters, U.S, Investors, University of Florida, Nvidia, GameStop, Vanda Research, Instacart, IPOs, Thomson Locations: British, New York

☆ Nora Eckert — Reporter at The Wall Street Journal
▼ + stars: | 2023-09-10 | by ( Nora Eckert | ) www.wsj.com time to read: 1 min

Nora EckertNora Eckert is an auto industry reporter based in Detroit, focusing on the major car companies, as well as broader trends in retail, manufacturing and technology. Nora was previously an investigative reporter with the Rochester Post Bulletin in Minnesota. She first joined The Wall Street Journal as an intern and later worked with the paper’s investigations group as a reporter. Nora has contributed to other outlets, including the Wisconsin Center for Investigative Reporting, the Associated Press and National Public Radio. A Wisconsin native, she holds a master’s degree in journalism from the University of Maryland, College Park, and attended St. Norbert College as an undergraduate.

Persons: Nora Eckert Nora Eckert, Nora, Norbert Organizations: Rochester Post, Wall, Journal, Wisconsin Center, Investigative, Associated Press, National Public, University of Maryland, College Park, St, Norbert College Locations: Detroit, Minnesota, Wisconsin

BLACK ROCK CITY, Nevada, Sept 4 (Reuters) - Thousands of Burning Man attendees readied to make their "exodus" on Monday as the counter-culture arts festival in the Nevada desert ends in a sea of drying mud instead of a party around its flaming effigy namesake. One person died at the event in the Black Rock Desert, authorities said on Sunday, providing few details. Every year Burning Man brings tens of thousands of people to the Nevada desert to dance, make art and enjoy being part of a self-sufficient, temporary community of like-minded spirits. The festival typically has a penultimate night send-off with the burning of a giant wooden effigy of a man, along with a fireworks show. Reporting by Anna Tong at Black Rock City and Rich McKay in Atlanta; Editing by Rosalba O'BrienOur Standards: The Thomson Reuters Trust Principles.

Persons: Marc Chenard, revelers, Trevor Hughes, Brian Fraoli, Fraoli, Anna Tong, Rich McKay, Rosalba O'Brien Organizations: National Weather Service, Center, Rock City, USA, Network, REUTERS, Acquire, Black Rock City, Thomson Locations: Nevada, Reno, College Park , Maryland, Rock, New York, San Francisco, Black, Atlanta

REUTERS/Dado Ruvic/Illustration/File Photo Acquire Licensing RightsAug 31 (Reuters) - The U.S. Securities and Exchange Commission (SEC) has delayed a decision on whether to approve applications for spot bitcoin exchange-traded funds (ETF) from Invesco (IVZ.N), WisdomTree (WT.N) and Valkyrie, a filing by the regulator showed on Thursday. The SEC has pushed back the decision dates for the three proposals by several weeks to mid-October, but could potentially delay further. The delay comes just two days after a federal appeals court ruled on Tuesday that the SEC was wrong to reject an application from Grayscale Investments to create a spot bitcoin ETF. The SEC has in recent years rejected dozens of applications for spot bitcoin ETFs, publicly traded investment vehicles that directly track bitcoin prices, citing inadequate levels of trading surveillance that could leave the underlying spot market subject to fraud and manipulation. In June, BlackRock (BLK.N), the world's biggest asset manager, also filed for a spot bitcoin ETF, a move that many viewed as a game-changer for the industry which and boosted the price of bitcoin.

Persons: Dado Ruvic, Hannah Lang, Matthew Lewis Organizations: REUTERS, U.S . Securities, Exchange Commission, SEC, District of Columbia, Thomson Locations: Invesco, Washington, BlackRock

Representations of cryptocurrency Bitcoin are placed on a PC motherboard, in this illustration taken June 16, 2023. A spot bitcoin ETF would give investors exposure to the world's largest cryptocurrency by market capitalization without having to own it. The SEC has denied all spot bitcoin ETF applications, saying applicants have not shown they can protect investors from market manipulation. Grayscale argued the same setup should be satisfactory for its spot ETF, since both products rely on bitcoin's underlying price. Other firms have spot bitcoin ETF applications with the SEC, including asset management giant BlackRock (BLK.N), Fidelity and WisdomTree (WT.N).

Persons: Dado Ruvic, Grayscale's, It's, Christopher LaVigne, Withers, Michael Sonnenshein, Bitcoin, Sui Chung, Joseph Toner, Seth Hertlein, Ryan Louvar, Paul Grewal, Coinbase, LaVigne, Carolina Mandl, Tom Wilson, Michelle Price, Jonathan Oatis Organizations: REUTERS, Rights, District of Columbia, Securities and Exchange Commission, SEC, CNBC, Chicago Mercantile Exchange, Fidelity, Coinbase, CME, BlackRock, Supreme, Thomson Locations: Washington, New York, WilmerHale, London

A panel of judges in the District of Columbia Court of Appeals in Washington said the securities regulator's denial of Grayscale's proposal was arbitrary and capricious because the SEC failed to explain its different treatment between bitcoin futures ETFs and spot bitcoin ETFs. CRYPTO WINThe SEC rejected Grayscale's application for a spot bitcoin ETF in June 2022, arguing the proposal did not meet anti-fraud and investor protection standards. The court said in its ruling that the SEC failed to explain why it disagreed with Grayscale's assertion that the bitcoin spot and futures markets are 99.9% correlated. If the SEC chooses not to appeal, the court would issue a mandate specifying how its decision should be executed. That could include instructing the SEC to approve the application, or to revisit Grayscale's application, in which case the SEC could still reject the proposal on other grounds.

Persons: Dado, CRYPTO, Judge Neomi Rao, Hannah Lang, Chris Prentice, Paul Simao, Matthew Lewis Organizations: REUTERS, WASHINGTON, U.S . Securities, Exchange, District of Columbia, SEC, CRYPTO WIN, Fidelity, Appeals, U.S, Supreme, BlackRock, New, Thomson Locations: District, Washington, New York

The case has been closely watched by the cryptocurrency and asset management industries, which have been trying for years to convince the SEC to approve a spot bitcoin ETF. While the agency has rejected spot bitcoin ETFs, it has approved bitcoin futures ETFs, which track agreements to buy or sell bitcoin at a pre-agreed price. Grayscale argued that the bitcoin futures ETF surveillance arrangements should also be satisfactory for Grayscale's spot ETF, since both products rely on bitcoin's underlying price. Bitcoin futures ETFs track bitcoin futures that trade on the Chicago Mercantile Exchange (CME), the chief venue for those products. The court's panel of judges said Grayscale showed that its proposed bitcoin ETF is "materially similar" to the approved bitcoin futures ETFs.

Persons: Dado Ruvic, Grayscale's, Donald Verrilli Jr, Hannah Lang, Michelle Price, Nick Zieminski Organizations: REUTERS, U.S, District of Columbia, Securities and Exchange Commission, SEC, New York Stock, Arca, Chicago Mercantile Exchange, CME, bitcoin, Supreme, Nasdaq, BlackRock, Fidelity, Thomson Locations: bitcoin, U.S, Washington

☆ How to Recognize a Tennis Prodigy
▼ + stars: | 2023-08-28 | by ( Tom Shroder | ) www.nytimes.com time to read: +1 min

You may have seen it if you’re a tennis fan. The ad begins with a young boy of 10 or 11, sitting in a humble apartment watching Venus Williams on a tiny antique television. Of course the young Tiafoes in the ad were the product of a casting call, not the actual young Frances. But the producers did a good job finding someone who looked like the 11-year-old boy I met in 2009, when I spent a couple of months writing about the Junior Tennis Champions Center in College Park, Md., a then-obscure tennis training academy which had shockingly produced three boys in world’s top 20 of junior tennis. But here’s the relevant bit: During my reporting at the tennis center, I spent a day with a boy the coaches seemed to have a strange regard for.

Persons: Venus Williams, He’s, Hey Frances, ”, —, Frances Tiafoe, Frances, Denis Kudla, Mitchell Frank, Kudla Organizations: United States, Junior Tennis, Center Locations: men’s tennis, College Park, Md, world’s

The rule is part of a broader push by Congress and regulatory authorities to crack down on crypto users who may be failing to pay their taxes. It would also subject digital asset brokers to the same information reporting rules as brokers for other financial instruments, such as bonds and stocks, Treasury said. Brokers would need to send the forms to both the IRS and digital asset holders to assist with their tax preparation. The new requirements stem from the $1 trillion 2021 Infrastructure Investment and Jobs Act, which included a provision that aimed to increase tax reporting requirements for digital asset brokers. It instructed the IRS to define what firms qualified as crypto brokers and provide forms and instructions for reporting.

Persons: Dado Ruvic, Kristin Smith, Miller Whitehouse, Levine, Elizabeth Warren, Hannah Lang, Deepa Babington, Michelle Price Organizations: REUTERS, Internal Revenue Service, Treasury, Treasury Department, IRS, Investment, Jobs, Blockchain, DeFi, Democratic, Thomson Locations: U.S, Washington

Aug 24 (Reuters) - Shares in online mortgage lender Better's (BETR.O) new public listing plummeted on Thursday as investors fretted over record-high mortgage rates. In the interim, roughly 95% of Aurora shareholders redeemed their holdings, leaving the trust account with just about $24 million at the end of June from about $283 million. Aurora went public in March 2021. Better is going public as U.S. mortgage rates continue to surge, with the popular 30-year fixed rate last week hitting the highest level since December 2000, helping drive mortgage applications to a 28-year low, the Mortgage Bankers Association said on Wednesday. Reporting by Hannah Lang and Lance Tupper in Washington; Editing by Mark Porter and Jonathan OatisOur Standards: The Thomson Reuters Trust Principles.

Persons: Aurora, Vishal Garg, Hannah Lang, Lance Tupper, Mark Porter, Jonathan Oatis Organizations: Nasdaq, Aurora Acquisition Corp, U.S . Securities, Exchange Commission, Aurora, refinancings, Mortgage Bankers Association, Thomson Locations: SoftBank, Washington

The Nasdaq logo is displayed at the Nasdaq Market site in Times Square in New York City, U.S., December 3, 2021. U.S. home builder confidence weakened in August, as mortgage rates and stubbornly high housing prices discouraged prospective buyers. Better enjoyed huge growth during the onset of the COVID-19 pandemic when mortgage rates cratered, notching more than $850 million in revenue in 2020, filings show. When interest rates fall, Better expects huge demand for cash-out refinancings, which it says it will be able to deliver in one day. Earlier this year, Better.com launched a one-day mortgage product, allowing customers to get pre-approved, lock in a rate and get a mortgage commitment letter within 24 hours.

Persons: Vishal Garg, Garg, Better.com, Hannah Lang, Michelle Price, Mark Potter Organizations: Nasdaq, REUTERS, Federal, refinancings, Aurora Acquisition Corp, U.S . Securities, Exchange Commission, SEC, Better, Zoom, Thomson Locations: New York City, U.S, SoftBank, Aurora, Washington

REUTERS/Fabrizio Bensch/File Photo Acquire Licensing RightsWASHINGTON, Aug 21 (Reuters) - PayPal's (PYPL.O) stablecoin is likely to succeed where Facebook's failed, thanks to the payment giant's standing in Washington and policymakers' greater understanding of the issues in the last three years. "From a policy perspective, there is a seismic difference between Facebook's Libra and PayPal's stablecoin," said Isaac Boltansky, director of policy research for brokerage BTIG. Dan Dolev, a senior analyst at Mizuho, said PayPal USD is not a game-changer for PayPal investors. When Facebook unveiled Libra, a stablecoin whose operations were based in Switzerland and which was pegged to a basket of currencies, executives made no secret of their ambitions. Facebook rebranded Libra, scaled it back and moved the project to the United States, in a bid to win U.S. regulatory approval.

Persons: Fabrizio Bensch, stablecoin, Facebook's, Christopher Giancarlo, PayPal's, Isaac Boltansky, Dan Schulman, Dan Dolev, Maxine Waters, Joe Biden's, Janet Yellen, Yellen, TerraUSD, stablecoins, There's, Jack Fletcher, Patrick McHenry, Hannah Lang, Andrea Shalal, Pete Schroeder, Niket, Michelle Price, Matthew Lewis Organizations: PayPal, REUTERS, Rights, U.S ., Facebook, U.S . Commodity Futures Trading Commission, Federal Reserve, Meta, Paxos Trust, New York State Department of Financial Services, Mizuho, Financial Services, Treasury, Congress, prudential, Republican, Thomson Locations: Berlin, Germany, Washington, U.S, Switzerland, United States, transact, stablecoins, Bengaluru

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