Weekly Roundup

Gamification
It was reported that FINRA will seek public comment on “gamification” of the capital markets.

Crypto Regulation Amid Crypto Tantrum
Amid this week’s market volatility of Bitcoin and markets, and a fragmented regulation of crypto-currency, ActingComptroller Michael Hsu testified at a Congressional hearing that the OCC, the Federal Reserve, and the FDIC are in talks about an “interagency sprint team” on crypto regulation.

Federal Reserve on Crypto
The Federal Reserve released guidance for public comment regarding “novel institutions” —including standards for some newly OCC-chartered firms to gain access to Fed services.

SPACS
It was reported that the recent selloff since February of SPACs is negatively impacting some retail investors, with reports of outflows of ETFs tied to SPACS and a drop in stock market and options trading by individual investors.

China
banned Chinese financial and payment institutions from the cryptocurrency business, amid China’s work to create its own digital currency controlled by its central bank.

In the Mix: This Week’s Top FinTech Thought Leader

  • Ben Emons, Mercury Strategies, spoke about the “crypto tantrum” market selloff of Bitcoin, noting the interconnectedness bitBitcoin valuation and equity markets.
  • Karina Funk, co-manager of Brown Advisory Sustainable Growth and Katherine Collins, co-manager ofPutnam Sustainable Leaders spoke about ESG outlook.
  • James Katz, CEO of Humankind Investments, wrote that ESG investing needs to clean its ownhouse in order to gain trust and credibility of investors, with discussion of need for commonstandard for ESG credit rating agency systems.