Investors largely expected the FOMC to cut rates by a quarter point.The Fedread more
The lack of clarity surrounding the U.S.-China trade war is what's really hitting global growth, says ex- Deputy Treasury Secretary Sarah Bloom Raskin.World Economyread more
China's economy has long relied on factors such high levels of investments and an expanding labor force for growth. Those growth drivers are running out of steam.China Economyread more
India could benefit from the fallout in the U.S.-China trade war, experts told CNBC — but much-needed reforms on land and labor could prove to be a challenge for companies...Asia Economyread more
New crash tests show the Tesla Model 3 and the Audi e-tron, are among the safest models out on the road. The results bolster the theory electric vehicles may be better...Autosread more
U.S. consumers and growth in sectors such as technology have offset declines in other American industries, says Tom Finke, chairman and CEO of investment management firm...US Economyread more
The FAA administrator's comments come on the eve of his visit to Boeing facilities outside Seattle. While there, he's scheduled to meet with Boeing executives and be briefed...Airlinesread more
Last weekend's attacks on oil facilities — and the spike in crude prices that followed — should show that the world needs to stop relying on oil, says Helen Clark.Energyread more
The photo depicts Canadian leader Justin Trudeau wearing a turban and robe, with dark makeup on his hands, face and neck. Liberal Party spokesman confirms the photo is of...Electionsread more
As the Fed was meeting to consider cutting interest rates, it lost control of the very benchmark rate that it manages.Market Insiderread more
CBS, CNN and other major media companies are starting to pull e-cigarette advertising off their airways, as the death toll from a mysterious vaping-related illness continues...Health and Scienceread more
France will push for the European Union to adopt a regulatory framework on cryptocurrencies similar to the one it brought in last week at a national level, becoming the first major country to do so, French Finance Minister Bruno Le Maire said on Monday.
The French parliament last week approved a financial sector law that included rules aimed at tempting cryptocurrency issuers and traders to set up in France by giving them some official recognition, while ensuring the country can tax their profits.
"I will propose to my European partners that we set up a single regulatory framework on crypto-assets inspired by the French experience," Le Maire said in Paris at an event on blockchain technology. "Our model is the right one."
The French government's new cryptocurrency bill - the first of its kind adopted by a major nation - will allow firms that want to issue new cryptocurrencies or trade existing ones to apply for a certification.
In most of the world, cryptocurrencies are still either totally unregulated or banned.
The certification will be granted by the French market regulator for those who want it, and issuers, traders, custodians and investors will have to pay taxes on profits they make on those securities.
The goal is to establish a market in Paris for companies raising capital in this way, allowing France to grab a slice of the expanding business while giving it some oversight of a niche which some fear could be a target for speculators.
The European Commission has recently launched a feasibility study on how to regulate the cryptocurrency markets, though no legislation is expected at least until late 2019 as the mandate of the current administration is ending.
On unregulated markets, where no rules apply, investors are left totally unprotected if things go sour.
Under France's regulatory proposals, authorities would verify who is behind a new coin's issuance or a trading platform, and check the companies' business plans and anti-money laundering rules.
The specific requirements companies need to abide by to get the regulatory stamp of approval are still to be defined by government decrees.
The certification will give investors basic guarantees against outright fraud, but will not protect them against losses.