The Business Roundtable, led by Jamie Dimon, gives a new definition of the "purpose of a corporation."Marketsread more
Stocks rose sharply on Monday as Treasury yields rebounded, quelling fears of a possible recessionUS Marketsread more
Powell will have the opportunity if not to walk back the "mid-cycle" assessment then to at least provide some further explanation about what it means.Economyread more
J.P. Morgan estimates the average annual tariff cost per household will be $1,000 with the new round of Trump's tariffs.Marketsread more
Since its IPO 15 years ago, Google has become more and more powerful. Today, that power is being highly scrutinized.Technologyread more
Sequoia's Michael Moritz says that direct listings worked for Spotify and Slack and will become more common for companies with "courage and intelligence."Technologyread more
Shares of embattled utility PG&E plummeted after a judge ruled that a jury can decided whether it should pay up to $18 billion in damages.Marketsread more
The attacks come after state and local ransomware attacks in New York, Louisiana, Maryland and Florida resulted in the loss of significant sums.Technologyread more
In a statement Monday, Barr named Kathleen Hawk Sawyer the new director of the Federal Bureau of Prisons.Politicsread more
A strong jobs market and tax cuts are helping to bolster consumer spending at restaurants. The National Restaurant Association projects overall industry sales will hit a high...Restaurantsread more
Lobbying disclosure reports show that Maria Ressa, who founded news website Rappler Inc. in the Philippines, has tapped two partners out of Covington & Burling to help her...Politicsread more
Regulators at the Securities and Exchange Commission are still worried about the cryptocurrency fundraising craze known as initial coin offerings. But the agency is not looking to ban them and remains open to a legal avenue for crypto investments, according to one commissioner.
"Investors are having a hard time telling the difference between investments and fraud," SEC Commissioner Robert Jackson told CNBC's "Squawk Box " on Monday. "Down the road, I think we will be thinking about ways to make those investments work consistent with our securities laws."
When asked if his comments meant more regulation or an outright ban, Jackson said, "It doesn't suggest either of those things."
"Right now we are focused on protecting investors who are getting hurt in this market," he said.
In an ICO, cryptocoins or tokens are put up for sale as a form of crowdfunding. Instead of voting rights or dividends that come with shares of a company, "utility tokens" promise access to a network, platform or service. But they're often backed by an abstract idea, or in some cases, nothing at all.
The agency has warned of pump-and-dump schemes in ICOs, and stepped up its enforcement with crackdowns on fraud and scores of subpoenas this year. SEC Chairman Jay Clayton made it clear in a February congressional hearing that despite claims that some are "utility tokens," every ICO he has seen is a security.
Jackson underlined the need for regulation and said the current crypto craze is what other markets might look like without financial oversight.
"If you want to know what our markets would look like with no securities regulation, what it would look like if the SEC didn't do its job? The answer is the ICO market," Jackson said.
The price of bitcoin tanked below $10,000 in March after the SEC announced that online platforms trading digital assets that are considered securities need to register with the agency. The cryptocurrency has fallen roughly 30 percent this year and was trading near $9,280 as of 10 a.m. ET Monday, according to CoinDesk.