Ex-U.S. consumer bureau head Cordray set to run for Ohio governor

(Reuters) – Richard Cordray, a Democrat whose resignation as head of the U.S. consumer bureau last month triggered a political battle over who should replace him, plans to run for governor of Ohio, an advisor said on Monday.

France’s Macron tells Trump concerned over Jerusalem plans

PARIS (Reuters) – French President Emmanuel Macron told U.S. President Donald Trump on Monday that he was worried about the possibility that the United States could unilaterally recognize Jerusalem as the capital of Israel, Macron’s office said in a statement.

U.S. SEC’s cyber unit files charges in alleged initial coin offering fraud

WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission said on Monday its newly created cyber unit had filed its first charges against an “initial coin offering” (ICO), alleging that a privately held company called PlexCorps and its top two officials had defrauded investors.

Trump administration proposes rollback of tip-pooling rule

(Reuters) – The U.S. Department of Labor on Monday proposed eliminating an Obama administration rule that allowed restaurant employees to keep their tips instead of being forced to share them with non-tipped workers, saying the rule had contributed to pay disparities between servers and other staff like cooks and dishwashers.

Feds shut down allegedly fraudulent cryptocurrency offering

The Securities and Exchange Commission on Monday announced that it was taking action against an initial coin offering (ICO) that the SEC alleges is fraudulent. The announcement represents the first enforcement action by the SEC’s recently created cyber fraud unit.

In recent months, the SEC has been wrestling with what to do about ICOs. US securities laws impose a number of requirements on anyone who offers new investments to the public. ICOs—in which a company offers the public cryptocurrencies that could appreciate in value the way Bitcoin has—look a lot like securities offerings. But most ICOs have ignored the SEC’s requirements.

At the same time, the SEC is aware that new cryptocurrencies could become an important source of innovation. And some experts argue that many new cryptocurrencies—those that serve a useful function beyond their potential to grow in value over time—are not securities, legally speaking.

Read 9 remaining paragraphs | Comments