U.S. Securities Regulator Lays Out Sweeping Plans to Accommodate Crypto
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The head of the U.S. securities regulator unveiled sweeping plans to overhaul capital markets regulations on Thursday to accommodate cryptocurrencies and blockchain-based trading, in a major win for the digital-asset industry, which has long pushed for tailored rules, Reuters reported. Securities and Exchange Commission Chair Paul Atkins said that he has directed SEC staff to craft guidelines to determine when a crypto token is a security, as well as proposals for a wide range of disclosures and exemptions. Atkins also said he has asked SEC staff to work with firms looking to offer tokenized securities — blockchain-based shares of stocks or funds. "This represents more than a regulatory shift; it is a generational opportunity," Atkins said. If enacted, Atkins’s proposals would represent a broad shift for U.S. securities regulation, potentially enabling crypto to become more enmeshed with traditional finance.
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In related news, the White House on Wednesday laid out its policy priorities for regulating digital assets, offering detailed guidance to Congress and federal regulators on how it hopes to fulfill President Trump’s campaign promise to make the U.S. the “crypto capital of the planet,” The Hill reported. The 166-page report from Trump’s digital assets working group provides recommendations for lawmakers and regulators on everything from crypto oversight to taxation to banking rules. The report, produced in response to a January executive order from the president, comes after months of efforts in Congress to pass digital-asset legislation. Earlier this month, Trump signed the first major crypto bill, the GENIUS Act, into law. The legislation laid out a regulatory framework for dollar-backed digital tokens known as stablecoins. Meanwhile, lawmakers have continued to advance legislation seeking to clarify rules for the rest of the crypto market, most critically by splitting up oversight between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC). The House passed its version, the Digital Asset Market Clarity Act, earlier this month, while the Senate released a discussion draft of its own bill shortly afterward.
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U.S. Inflation Warms Up in June as Tariffs Boost Some Goods Prices
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U.S. inflation increased in June as tariffs boosted prices for imported goods like household furniture and recreation products, Reuters reported. The report from the Commerce Department on Thursday showed goods prices last month posting their biggest gain since January, with also solid rises in the costs of clothing and footwear. The personal consumption expenditures (PCE) price index rose 0.3% last month after an upwardly revised 0.2% gain in May, the Commerce Department's Bureau of Economic Analysis said. Prices for furnishings and durable household equipment jumped 1.3%, the biggest gain since March 2022, after increasing 0.6% in May. Prices on recreational goods and vehicles shot up 0.9%, the most since February 2024, after being unchanged in May. Prices for clothing and footwear rose 0.4%.
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Cincinnati-Area Practitioners: Don't Miss the 2025 Midwest Regional Bankruptcy Seminar on August 12!
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Cincinnati-area practitioners will not want to miss the 2025 Midwest Regional Bankruptcy Seminar, being held on Aug. 12 at the Westin Cincinnati! The advisory board has created a day-long seminar with focused sessions on the biggest issues in insolvency practice. Catch up with friends and meet new colleagues at the return of this favorite event, then conclude the day’s programming with a networking reception. Register today!
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Weekly Jobless Claims Rise Marginally
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The number of Americans filing new applications for unemployment benefits increased marginally last week, Reuters reported. Initial claims for state unemployment benefits rose 1,000 to a seasonally adjusted 218,000 for the week ended July 26, the Labor Department said on Thursday. Economists polled by Reuters had forecast 224,000 claims for the latest week. The number of people receiving benefits after an initial week of aid, a proxy for hiring, were unchanged at a seasonally adjusted 1.946 million during the week ending July 19, the claims report showed.
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U.S. Appeals Court Scrutinizes Trump's Use of Tariffs as Trade Deadline Looms
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U.S. appeals court judges sharply questioned on Thursday whether President Donald Trump's tariffs were justified by the president's emergency powers, as lawyers for states and businesses challenging the measures argued he has exceeded his authority, Reuters reported. The U.S. Court of Appeals for the Federal Circuit in Washington, D.C., is considering the legality of "reciprocal" tariffs that Trump imposed on a broad range of U.S. trading partners in April, as well as tariffs imposed in February against China, Canada and Mexico. In hearing arguments in two cases brought by five small U.S. businesses and 12 Democratic-led U.S. states, judges pressed government lawyer Brett Shumate to explain how the International Emergency Economic Powers Act (IEEPA), a 1977 law historically used for sanctioning enemies or freezing their assets, gave Trump the power to impose tariffs. Shumate said that the law allows the president to have "extraordinary" authority in an emergency, including the ability to stop imports completely. He said IEEPA authorizes tariffs because it allows a president to "regulate" imports in a crisis. The judges seemed dubious of this sweeping argument.
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With Individual Home Buyers on the Sidelines, Investors Swoop into the Market
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Individual home buyers are largely locked out of the housing market as home prices continue to climb and interest rates remain stuck. But investors are buying, and dominating the market, the <em>Wall Street Journal</em> reported. So far in 2025, investors who buy homes to flip or rent out have made up about 30% of purchases of both existing and newly built single-family homes, the highest share on record, according to property analytics firm Cotality, which started tracking the sales 14 years ago. There is also a change in the makeup of single-family residential investors, who have become a powerful force in the U.S. housing market. This buying group was once flooded with large private-equity firms such as Blackstone and Starwood Capital Group. But in the first half of this year, small investors made up about 25% of these home purchases while large investors accounted for about 5% on average, according to Cotality’s data. This shift happened mostly because large investors and traditional home buyers have slowed down while small investors are holding steady. (Subscription required.)
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Unlock Bankruptcy Law Essentials from Top Industry Professionals with Restructuring Masterclass Program
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Restructuring Masterclass is an online, on-demand series of classes specifically designed to cover all the bankruptcy essentials. This program provides a foundation in bankruptcy law for both lawyers and business professionals alike, and sessions are taught by an outstanding faculty of experts who present practice tips and the basic concepts that every professional dealing with insolvency needs to know. Learning the fundamentals of bankruptcy law is an essential practice component for a variety of professions. Subscribe today at restructuringmasterclass.com to explore more than 40 expertly crafted courses, with new sessions being added regularly. Click here for more information.
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Midwest Regional Bankruptcy Seminar
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"Consent, Conflict, and Cross-Border Challenges: Insights into Third Party Releases"
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Mid-Atlantic Bankruptcy Workshop
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Southwest Bankruptcy Conference
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"Navigating the Complexities of Retirement Plan Terminations"
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Private Credit Loan Refinancing: Considerations for Borrowers and New Lenders
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Bankruptcy 2025: Views from the Bench
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International Committee Meet & Greet
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Midwestern Bankruptcy Institute
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International European Insolvency Symposium
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New on ABI’s Bankruptcy Blog Exchange: Individuals with Repeat Bankruptcy Filings and Automatic Stay Termination
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Individuals who repeatedly file for bankruptcy face an automatic stay problem under 11 U.S.C. § 362(c), according to a recent blog post by Donald Swanson. Subsections (c)(3) and (4) of § 362 terminate the automatic stay — automatically — for individual repeat filers.
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Thanks to our Presidential Partners
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