Kevin Warsh was sworn in as Federal Reserve chair, telling markets to expect an independent policy path amid sticky inflation. Equities finished the week higher as tech hardware led gains, while Treasury yields nudged up on hawkish undertones from policymakers signaling rates may stay elevated until energy-driven price pressures ease.
Source: American Banker
SEC pauses tokenization ‘innovation exemption,’ zeroes in on shareholder rights
The SEC delayed a long-anticipated pilot framework for tokenized equities as staff weigh concerns over third‑party tokens that mimic stocks without issuers’ consent or investor rights. Commissioner Hester Peirce said any relief will be “limited in scope” and focused on issuer‑backed digital representations that preserve dividends, voting, and transfer records—setting a higher bar for synthetic, permissionless models.
Source: FinanceFeeds
Congress launches probe into Kalshi and Polymarket over insider-trading safeguards
The House Oversight Committee opened a formal inquiry into prediction markets Kalshi and Polymarket, demanding details on KYC, surveillance, and how platforms detect anomalous trades. The move follows an indictment tied to trading on classified information and could shape legislation restricting government employees’ participation—raising the compliance bar for event‑contract venues.
Source: Finance Magnates
China clamps down on offshore brokers, hitting cross‑border flows and stocks
Beijing and multiple agencies penalized Futu, Tiger Brokers and Longbridge for soliciting mainland clients without local licenses, ordering a two‑year wind‑down that allows selling but blocks new purchases. The crackdown narrows a key overseas investment channel for Chinese retail money and knocked U.S.‑listed China tech shares, with fines and tighter KYC controls adding further pressure.
Source: FinanceFeeds
FDIC proposes bringing stablecoin issuers under Bank Secrecy Act rules
The FDIC floated a rule that would apply bank‑style anti‑money‑laundering and recordkeeping obligations to stablecoin issuers. The proposal underscores regulators’ push to align crypto‑dollar rails with traditional financial‑crime controls, with implications for banks partnering on tokenized deposits and for non‑bank issuers’ compliance costs and onboarding.
Source: Seeking Alpha
ICE taps OKX to list Brent and WTI perps, extending oil benchmarks into crypto venues
Intercontinental Exchange and OKX will launch perpetual futures settling to ICE’s Brent and WTI benchmarks, giving eligible users 24/7 access to energy exposure in a crypto‑native format. The tie‑up highlights centralized exchanges’ push into traditional commodities under licensing constraints—while major benchmark owners pressure regulators to rein in decentralized oil perps operating outside the same perimeter.
Source: FinanceFeeds
Memorial Day sticker shock: U.S. gasoline prices up ~30% year over year
Pump prices heading into the holiday weekend are roughly 30% higher than last year, with tight gasoline storage compounding consumers’ burden. The summer driving season will test household resilience as fuel costs ripple through discretionary spending and travel budgets.
Source: Seeking Alpha
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