SHANGHAI (Reuters) - China's ban on initial coin offerings (ICO) is a necessary move to stop illegal fundraising and pyramid schemes but should not stop firms from studying blockchain technology, a senior central bank official told the Financial News newspaper on Tuesday. Sun Guofeng, director general of the People's Bank of China's research institute, said in an interview with the newspaper that the central bank's move to ban the practice of creating and selling digital currencies or tokens to finance start-up projects on Sept. 4 was "necessary and timely". "But this should not prevent relevant financial technology companies, industry bodies and other technology firms from continuing their research into blockchain technology," he said. "Blockchain itself is a good technology, and an ICO is not the only way through which one can carry out research into it." While there was already a sound regulatory framework for banks, it was relatively weak for technology firms which were now handling large streams of money flows, creating the risk of "regulatory arbitrage", Sun said. For example, companies were potentially violating privacy protections by using data from online retailers and social networks to analyze consumers' personal credit conditions without their knowledge. "In general, financial technology still holds strong risk characteristics and we must strengthen supervision," he said. Regulators now planned to continue undertaking independent research into the financial technology system, and would seek third-party research and also assess companies' own research in order to formulate a framework. But the technology industry would be expected to foot part of the costs for creating such a framework, he added without providing details. (Reporting by Brenda Goh; Editing by Stephen Coates)
Florida Sen. Marco Rubio says he'll fight against a federal relief bill that would assist his state's recovery from Hurricane Ian if it has 'pork in it'
Rubio on Sunday told CNN he would fight against the bill if it includes spending unrelated to the hurricane damages. "That's the key," he said.
Terry Bradshaw, a Pro Football Hall of Fame quarterback and one of the co-hosts on Fox NFL Sunday, revealed Sunday on air that he has battled cancer twice in the last year. Bradshaw had an incident during the pregame show last week and addressed them on Sunday’s episode before the rest of the schedule kicked off. “Last week on […]
- Steelers Wire
Chris Boswell gets record-breaking field goal in first half.
Rep. Matt Gaetz was one of several House Republicans who voted against a resolution to allow FEMA to use up to $15 million in the Disaster Relief Fund.
Senior members of the royal family rarely put on public displays of affection, an unspoken rule famously followed by the late Queen Elizabeth II.
The fishing duo posed for a photo with their catch just minutes before an official discovered something inside the animals.
- The Daily Beast
CNNSen. Rick Scott (R-FL) tried his best at justifying former President Donald Trump’s racist Truth Social post from Friday, in which the ex-commander in chief said Senate Minority Leader Mitch McConnell had a “DEATH WISH” and called his former transportation secretary Elaine Chao "Coco Chow.” The senator, flailing after being asked during a CNN appearance about the post, defended Trump's predilection for "nicknames."Trump Claims McConnell has ‘Death Wish’ in Stinging Attack“As you know, the pre
The New Official Palace Portrait Shows a Shift in Who the Royal Family Wants the Public to Consider the 'Fab Four'
It seems that along with pushing Prince Harry and Meghan Markle down to the lowest level on the official royal family website, they don’t want either of them to be considered part of the “Fab Four” anymore. While Prince William and Kate Princess of Wales continue to hold that title, it seems the other half […]
- ABC News
Florida Sen. Rick Scott, a member of Republican leadership in the upper chamber, said Sunday that he does not "condone violence" after Donald Trump lashed out at Senate GOP leader Mitch McConnell and suggested McConnell had a "death wish"-- but Scott stopped short of condemning the former president. Trump, in a post on his Truth Social website last week, wrote that McConnell must have a "death wish" after supporting a continuing resolution to fund the federal government. Trump went on to criticize McConnell's wife in racist terms, writing that he should "seek help and advise [sic] from his China loving wife, Coco Chow!" Trump was referring to Elaine Chao, who is Taiwanese.
- Miami Herald
Bottles of medication designed to keep blood pressure down contained medication designed to help prevent strokes and blood clots in people with heart conditions, causing a recall of one lot of each.
- Road & Track
While some of the soil supporting the track's famous high banks was washed away, a track executive reports no structural damage to the track or its foundations.
- Touchdown Wire
Jerome Boger's horrid roughing the passer penalty was among the things that allowed the Bills to beat the Ravens.
Putin allies bashed Russia's retreat from a city in Ukraine, calling military leaders 'garbage' and saying they should be sent 'barefoot with machine guns straight to the front'
After Russian troops retreated from Lyman, a Ukrainian city Putin claimed was part of Russia, powerful Putin supporters ripped military leadership.
- Panthers Wire
In a scenario straight out of a video game, we'd have the Panthers snatching QB Kyler Murray away from the Cardinals in Week 4's "Player Prowl."
- Miami Herald
A pair of disturbances are in the Atlantic Ocean Sunday afternoon, one of which the National Hurricane Center estimates has a high chance of becoming a storm system by next weekend and one of which has a high chance of becoming nothing in its 2 p.m. update.
One of the most highly-anticipated films of 2022 was Blonde—a Netflix drama based on the Joyce Carol Oates novel of the same name, which tells a fictionalized version of Marilyn Monroe's life and stars Ana de Armas (Knives Out) in the lead role. And although the film met a mixed reception (including from PureWow) upon its release, it still managed to sit strong at the number-one spot on Netflix's most-watched movies list from the day it premiered. That was, until a new movie just overtook it. Th
- Country Living
Danica McKeller, the 47-year-old actress, author, and Domino Masters host, will star in Christmas at the Drive-In on Great American Family.
- Country Living
Singer Garth Brooks revealed the reason behind his weight loss journey in a new interview.
- Fox News
King Charles III may remove Princess Beatrice and Princess Eugenie's royal titles due to Prince Andrew: expert
King Charles "making British monarchy decisions" after Queen's death, including possibly changing royal titles of Princess Beatrice and Princess Eugenie.
- The Hill
Alyssa Farah Griffin denounces Trump after Elaine Chao attack: ‘He’s not even trying to hide the racism’
CNN commentator and “The View” co-host Alyssa Farah Griffin denounced former President Trump for comments he made attacking Senate Minority Leader Mitch McConnell (R-Ky.) and his wife, former Transportation Secretary Elaine Chao. Trump said on Truth Social on Saturday that McConnell had a “death wish” for supporting bills that Democrats sponsored and referred to Chao…