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Both changes to the process for designating a non-bank as a "systemically important financial institution," or SIFI, were proposed in April. Friday's vote reversed a Trump administration policy that regulators should police risky activities rather than single out individual firms. Under the revamped process, FSOC will identify potential SIFIs based on existing information and give the company a chance to respond. Similarly, the Managed Funds Association, which represents hedge funds, said non-banks do not pose the same risks as banks. "The guidance imposes a black box designation process that introduces uncertainty for market participants," said MFA President and CEO Bryan Corbett.

Persons: Brendan McDermid, Donald Trump, FSOC, Trump, Janet Yellen, Eric Pan, Bryan Corbett, Barack Obama, Ian Katz, Pete Schroeder, Chris Reese, Michelle Price, Richard Chang Organizations: Wall, REUTERS, WASHINGTON, Treasury Department, U.S . Federal, BlackRock, Bridgewater, Investment Company Institute, Association, MetLife, Inc, General Electric Capital Corporation, American International Group, Prudential Financial, Capital Alpha Partners, Carolina, Thomson Locations: New York, U.S, BlackRock, Bridgewater

☆ Tokenizing real-world assets on blockchains is for crypto lovers as well as crypto skeptics now
▼ + stars: | 2023-09-23 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +2 min

Tokenizing real-world assets on a blockchain is one of the buzziest topics of the year, and this time it isn't just coming from financial incumbents like Citi, JPMorgan and Northern Trust, it's coming from crypto native players, too. As the world of crypto becomes more connected to the broader financial market, the appetite for tokenizing real-world assets, or RWA, is coming from smaller participants as well. Kraken Ventures' Stuti Pandey said since tokenization's last hype cycle, RWAs have benefited from changes in economics, technology and credibility. "Over the past few years, interest rates have been very depressed and that has favored very high growth, high risk assets," she said. Now that rates are down, it's actually these real-world assets that have interesting yield."

Persons: blockchains, RWA, Maria Shen, MakerDAO, Shen, That's, Stuti Pandey, it's Organizations: Citi, JPMorgan, Northern Trust, Electric Capital, CNBC, Kraken Ventures

☆ It’s been one year since the Ethereum merge. Here’s how the network is doing on its goals.
▼ + stars: | 2023-09-17 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +6 min

Despite ether's recent price action, the network has been thriving since the "merge" – and could just be getting started. Still, market participants are seeing and feeling the success of the Ethereum merge. Here's how Ethereum is doing on some of its post-merge goals: Yields Ether's staking reward reference rate was 5.854% per annum on Sept. 15, 2022, according to Ethereum data provider Beaconchain. The percentage of ether supply being staked has risen from 11.99% on Sept. 15, 2022, to 20.46% on Aug. 30 of this year. Burning fees and decreasing supply Ethereum has a mechanism programmed in to regulate the network's notoriously high transaction fees, called gas fees, by "burning" them.

Persons: Ethereum, it's, Ethereum haven't, Matthew Sigel, Andrew Ballinger, hadn't, Maria Shen, Shen, It's Organizations: Metrics, First, ETH, Electric Locations: Bitcoin, FTX, First Republic, Shanghai, ETH, Solana, Cardano

☆ Bitcoin’s popularity with developers shrunk last year while Ethereum’s flourished. Here’s what that means for investors
▼ + stars: | 2023-01-18 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Crypto prices suffered badly in 2022, but developer activity for the year paints a more optimistic picture for investors. That puts developer growth at 9% for the year, the report showed, even as the price of ether dropped 67%, according to Coin Metrics. Its price collapsed 50% last year, but the strength of its developer community gave investors hope it would pull through. Meanwhile, bitcoin's developer population shrunk 4%, though it's still the fifth largest in the market at 300 full-time builders. Why it matters for investors Developer activity is an indicator of a network's utility and potential for end users.

☆ Solana is facing its 'crucible moment' after the FTX blowup sent it down 50% last week
▼ + stars: | 2022-11-13 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

Investors say it feels like a make-or-break moment for the Solana network, but they're optimistic it'll pull through. "Every community has to have a crucible moment," said Avichal Garg, a managing partner at venture capital firm Electric Capital. "FTX really helped construct this ecosystem, they put a lot of money and resources behind it and helped the flywheel get going," Garg said. On the bright side, whatever amount of Solana tokens was locked on the FTX exchange can't be sold now. However, those close to the Solana community have been strongly encouraged by growth trends in its developer base.

☆ Special interest groups representing Amazon to Uber oppose possible crypto regulation in California
▼ + stars: | 2022-09-23 | by ( Caroline Haskins | ) www.businessinsider.com time to read: +8 min

Industry groups representing Amazon, Apple, Block, Coinbase, Genesis, Google, GrubHub, Lyft, Facebook/Meta, Uber, and other companies wrote to the state assembly opposing the law. Nine organizations representing consumers and advocating for economic justice wrote to the state assembly expressing support for the law. Several tech industry groups representing major companies and venture capital firms wrote in to oppose the law. Several organizations advocating for consumers and economic justice wrote to the state assembly expressing support for the law. Interest groups argued that regulation presents an "undue burden"on crypto companiesBlockchain Advocacy CoalitionThe Blockchain Advocacy Coalition wrote to Assemblymember Grayson on August 26.

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