Economy
Coinbase says SEC conversation on crypto regulation welcome
Coinbase, the largest publically held cryptocurrency exchange, is onboard when it comes to getting the ball rolling on regulation after Securities and Exchange Commission Chairman Gary Gensler said the exchanges operating in the $2 trillion market, favored by the likes of Elon Musk, have no oversight.
“There is not a market regulator around these crypto exchanges and thus there is not protection against fraud or manipulation” Gensler warned during his first official appearance as SEC Chair before the House Financial Services Committee Thursday.
Judge Strikes Down Federal Eviction Moratorium, Setting Up High-Stakes Appeal
A federal judge has issued a sweeping ruling that would revoke a pandemic eviction moratorium put in place by the Centers for Disease Control and Prevention.
But the Justice Department is appealing on behalf of the CDC.
The case was brought by the Alabama Association of Realtors, which argued that the CDC doesn’t have the power to tell landlords they can’t evict people during a pandemic. The judge agreed.
Auto sector urges U.S. Congress to help fund its computer chip needs
The U.S. auto industry and United Auto Workers union on Friday urged Congress to tie billions of dollars in government funding to boost semiconductor production to help fill the needs of automakers forced to slash production because of chip shortages.
Congress “should prioritize production of the semiconductors necessary to assemble vehicles here in the United States. This will ensure that motor vehicle manufacturers have a fair share of chips needed to meet consumer demand,” said the American Automotive Policy Council, Motor & Equipment Manufacturers Association and UAW on Friday in a joint statement.
Biden Backs Waiving International Patent Protections For COVID-19 Vaccines
President Biden threw his support behind a World Trade Organization proposal on Wednesday to waive intellectual property protections for COVID-19 vaccines, clearing a hurdle for vaccine-strapped countries to manufacture their own vaccines even though the patents are privately held.
“This is a global health crisis, and the extraordinary circumstances of the COVID-19 pandemic call for extraordinary measures,” U.S. trade representative Katherine Tai said in a statement. “The Administration believes strongly in intellectual property protections, but in service of ending this pandemic, supports the waiver of those protections for COVID-19 vaccines.”
Laboratory-made diamonds are forever, says Pandora
The world’s biggest jeweller, Pandora, says it will no longer sell mined diamonds and will switch to exclusively laboratory-made diamonds.
Concerns about the environment and working practices in the mining industry have led to growing demand for alternatives to mined diamonds.
Pfizer, BioNTech seek full FDA approval for COVID-19 vaccine
Pfizer and BioNTech said Friday that they have begun the process of seeking full FDA approval for their COVID-19 vaccine.
The companies announced the initiation of a Biologics License Application (BLA) with the agency and said data will be submitted on a rolling basis over the coming weeks, potentially paving the way for full approval within the next several months.
High Package Costs Hit Food Makers as Recycled Paper, Corn Soar
In a year of food supply-chain disruptions hitting from all angles, here are two more things for producers and consumers to worry about: recycled paper and corn, and how they affect packaging.
Prices have spiked for both recycled paper — an important source of wood fiber for the packaging industry and used to make boxes — and corn, a main ingredient in the starch used in the glue that holds the containers together. That’s adding to headaches in an industry already struggling with high costs due to tight supplies and surging pandemic-era demand for shipments of all types.
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The post Daily Digest 5/6 – Coinbase says SEC conversation on crypto regulation welcome, Auto sector urges U.S. Congress to help fund its computer chip needs appeared first on Peak Prosperity.
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