Reports indicate that President-elect Donald Trump’s incoming administration is considering a significant shift in crypto regulation, potentially empowering the Commodity Futures Trading Commission (CFTC) to oversee certain digital assets. According to Fox Business, this move could dilute the authority of the Securities and Exchange Commission (SEC) in the realm of cryptocurrency regulation.
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French banking stocks plummeted as a political standoff in France sent country's bond risk to levels not seen since the euro-area debt crisis, with BNP Paribas, Societe Generale, and Credit Agricole among the worst performers in European financials. French lenders have missed on this year's rally in European banking equities due to investor concerns over country's political and financial outlook.
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The German cabinet on Wednesday approved a package of measures to promote startups and improve access to capital markets, government sources told Reuters, though it is unclear whether it will also be green-lit by parliament before February elections. The so-called Second Financing for the Future Act is intended in particular to improve the tax framework for investments in venture capital.
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