Category Archives: regulation

business, economy, finance, regulation, technology

SEC chair Atkins prioritizes innovation in crypto rulemaking

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**SEC’s Evolving Approach to Crypto Regulation: From Enforcement to Innovation**

Enforcement and crackdowns have long characterized the U.S. Securities and Exchange Commission’s (SEC) stance on cryptocurrencies and other digital assets. After years of standoffs, the agency’s new willingness to engage with the crypto industry could mark the start of a genuine experiment in regulatory change.

### A New Priority: Crypto and Tokenization

SEC Chair Paul Atkins has designated crypto and tokenization as the agency’s “job one” priority, signaling a shift toward a pro-innovation stance. This marks a departure from the agency’s previous approach under former Chair Gary Gensler, who primarily relied on enforcement actions. Under Atkins, the SEC appears to be asking a different question: how to let innovation thrive while maintaining effective oversight.

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### Gensler-Led SEC: Enforcement as Policy

Gary Gensler treated most cryptocurrencies as “securities” and centered his regulatory strategy on aggressive enforcement and litigation. During his tenure, the SEC filed over 125 crypto-related enforcement actions, achieving substantial monetary settlements.

– Approximately 64% of these actions alleged unregistered securities offerings rather than fraud.
– About 37% of these actions were unanimously approved by the SEC Commissioners.

Between late 2020 and 2024, the SEC initiated lawsuits against several high-profile crypto firms, including Ripple (December 2020), Bittrex (April 2023), Coinbase (June 2023), Binance (June 2023), and Kraken (November 2023). These lawsuits primarily alleged violations such as unregistered securities offerings and operating unlicensed exchanges.

Ripple’s Chief Legal Officer, Stuart Alderoty, criticized Gensler’s approach, asserting that he “prejudged crypto” and pursued lawsuits against firms “without investigation,” which stifled the industry’s growth in the U.S.

The enforcement-heavy environment prompted some crypto businesses to exit the market. Even firms registered with the SEC faced challenges staying afloat under such strict regulations.

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### Atkins-Led SEC: Innovation as Strategy

Following Gensler’s departure in January 2025, Acting Chairman Mark T. Uyeda announced the creation of the Crypto Task Force led by Commissioner Hester Peirce. This task force aimed to adopt a more balanced approach to cryptocurrency and digital assets, moving beyond a sole focus on enforcement.

A significant policy shift occurred in January 2025 when the SEC rescinded Staff Accounting Bulletin (SAB) 121. This move eased barriers for financial institutions offering crypto custodial services.

Since taking office in April 2025, Chair Paul Atkins has guided the SEC toward withdrawing or pausing select crypto lawsuits. In July 2025, the agency launched Project Crypto, an initiative aimed at “modernizing the securities rules and regulations” to enable U.S. financial markets to operate on-chain.

At DC Fintech Week on October 15, Atkins emphasized the goal of building a future-proof crypto framework “to actually attract people back into the United States who may have fled.” By jokingly dubbing the SEC a “Securities and Innovation Commission” during the Forum, he signaled the agency’s innovation-friendly agenda.

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### Looking Ahead

Ultimately, the SEC under Atkins plans to initiate rulemaking around its “innovation exemption” vision by the end of 2025 or early 2026, depending on developments related to the ongoing U.S. government shutdown. This evolving approach suggests a new era where regulation and innovation might coexist more harmoniously in the crypto landscape.
https://bitcoinethereumnews.com/crypto/sec-chair-atkins-prioritizes-innovation-in-crypto-rulemaking/?utm_source=rss&utm_medium=rss&utm_campaign=sec-chair-atkins-prioritizes-innovation-in-crypto-rulemaking

government, health, public safety, regulation

Fake Medicine Racket Busted In Pune: Paracetamol Sold As Azithromycin, ₹61.67 Lakh Stock Seized

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**FDA Uncovers Counterfeit Allopathy and Ayurvedic Medicines in Pune Amid Nationwide Concern**

Amid growing nationwide concerns over counterfeit medicines, the Food and Drug Administration (FDA) has uncovered a shocking case in Pune involving fake allopathy and Ayurvedic medicines being supplied in the market.

In a disturbing revelation, paracetamol was reportedly being sold under the label of azithromycin, a widely used antibiotic. The FDA’s inspection further revealed adulteration not only in antibiotics but also among tablets used to control blood pressure and diabetes.

### Major Raids and Seizures

Between April and September, the FDA conducted raids that led to the seizure of counterfeit medicines worth ₹61.67 lakh from two manufacturers — an allopathy company based in Shikrapur and an Ayurvedic firm in Thane.

From the Shikrapur unit alone, fake azithromycin tablets along with adulterated medicines for diabetes and hypertension, valued at ₹55.62 lakh, were confiscated. Additionally, Ayurvedic medicines worth ₹6.05 lakh were seized during a separate operation.

“In the Pune division, we regularly inspect 66 manufacturers and sellers. Action has been taken against two companies between April and September this year, and samples from 15 locations were tested,” said Girish Hukre, Joint Commissioner, FDA, Pune Division.

### Public Health Concerns

Authorities confirmed that the Shikrapur-based company had supplied azithromycin tablets to certain municipal hospitals in Pune, raising serious concerns about patient safety. Cases have been registered against both manufacturers, and further investigations are ongoing.

Medical experts and pharmacists have demanded that the administration tighten surveillance measures to prevent counterfeit medicines from entering the city’s supply chain. Meanwhile, some drug dealers have questioned how many vendors had their licenses revoked for selling such fake products.

### Context: Rising Deaths Linked to Contaminated Medicines

These revelations come in the wake of several child deaths in Madhya Pradesh and Rajasthan linked to contaminated cough syrup. Following these tragic incidents, the FDA has intensified checks on cough syrups across the Pune division.

As a result, many local drug dealers have already stopped selling syrups from the suspected companies.

### Government Response and Future Measures

Health Minister Prakash Abitkar assured the public that strict action will be taken against those involved in manufacturing and supplying counterfeit medicines. He stated, “A Drug Detection Machine will soon be deployed across the state to ensure the quality of medicines. Government hospital supplies must match the quality standards of private institutions.”

Meanwhile, the Directorate General of Health Services (DGHS) has issued an advisory recommending that cough syrups should not be given to children under two years of age, as the chemicals may not break down properly in their bodies and could have toxic effects. The advisory also cautions against administering such syrups to children under five years old, who are prone to adverse side effects.

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The FDA continues to strengthen efforts to safeguard public health by cracking down on counterfeit medicines and ensuring quality standards across the pharmaceutical market.
https://www.freepressjournal.in/pune/fake-medicine-racket-busted-in-pune-paracetamol-sold-as-azithromycin-6167-lakh-stock-seized

health, pharmaceuticals, politics, regulation

Kerala Bans All Sresan Pharmaceuticals Medicines From Sale Following Tamil Nadu License Cancellation

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Kerala (Thiruvananthapuram): Health Minister Veena George has announced a ban on all medicines manufactured by Sresan Pharmaceuticals, a company based in Kanchipuram, Tamil Nadu. This decision follows the cancellation of the company’s manufacturing license by the Tamil Nadu Drugs Controller. Consequently, these medicines are prohibited from distribution and sale within Kerala.

In a related development, the Gujarat Drugs Controller reported that Respifresh TR syrup (60ml, Batch No. R01GL2523), produced by Rednex Pharmaceuticals Pvt. Ltd., Ahmedabad, failed to meet required quality standards. In response, the Kerala Drugs Control Department has immediately halted the distribution and sale of this medicine throughout the state. The syrup had been distributed by five suppliers in Kerala, all of whom have now been instructed to stop its distribution. Strict action will be taken against anyone found selling the drug illegally.

The public has been advised not to use this medicine if they currently possess it. The Health Minister clarified that these banned medicines are not supplied through government hospitals. Additionally, strict action will be taken against establishments that provide this medicine to children under 12 years of age without a prescription from a registered doctor.

Earlier, following the death of at least 14 children after consuming Coldrif syrup in Madhya Pradesh’s Chhindwara, the Kerala government constituted a committee to submit a report on the management of pediatric cough syrups. On Tuesday, Kerala Health Minister Veena George stated that the State Drugs Controller has imposed a ban on the specific cough syrup Coldrif, and the Kerala Medical Services Corporation Limited (KMSCL) does not supply this syrup to government hospitals.

Speaking to ANI, Minister Veena George said, “It’s unfortunate that 16 children died after consuming the cough syrup Coldrif. The Government of India has issued an advisory regarding the consumption of cough syrup. In Kerala, the Drugs Controller has issued a notification banning the sale of this particular cough syrup Coldrif in all pharmacies across the state.”

She further emphasized, “ColdRif is not included in our essential drugs list. It is not provided by KMSCL, which supplies medicines to government hospitals. However, we are ensuring that the sale of this syrup is completely stopped in private hospitals and pharmacies.”

The Minister noted that the committee on pediatric cough syrups will soon submit its report to the Kerala Government. “We have previously taken similar strict enforcement actions regarding antibiotics within the state. This committee specifically focuses on the management of pediatric cough, ensuring irrelevant combinations are not present in syrups. We plan to issue comprehensive guidelines concerning pediatric cough management, which is crucial,” she explained.

Minister Veena George also raised concerns about medical prescriptions saying, “Doctors have been prescribing cough syrups to children under the age of two years, which is neither advisable nor scientific. We do have protocols in place prohibiting cough syrup administration to children under two.”

She added, “This incident highlights the disregard for these protocols. The Kerala Health Department has instructed the Drugs Controller to issue notices to pharmacies prohibiting the sale of pediatric drugs without a doctor’s prescription.”

The Kerala government remains committed to ensuring the safety and well-being of children by strictly regulating the distribution and sale of pediatric medicines across the state.

*(This article has been auto-generated from an agency feed and has not been edited by FPJ’s editorial team, except for the headline.)*
https://www.freepressjournal.in/india/kerala-bans-all-sresan-pharmaceuticals-medicines-from-sale-following-tamil-nadu-license-cancellation

business, investigation, regulation

ED Conducts Searches At Anil Ambani-linked RInfra Premises In FEMA Probe

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**Mumbai: ED Conducts Searches at Reliance Infrastructure Premises in FEMA Probe**

The Enforcement Directorate (ED) on Tuesday conducted searches at six premises of Anil Ambani-linked Reliance Infrastructure Ltd (RInfra) located in Indore (Madhya Pradesh) and Mumbai (Maharashtra). The searches form part of an ongoing probe into alleged illegal remittances abroad, reportedly violating the Foreign Exchange Management Act (FEMA), according to official sources.

### ED Probes Transactions with Yes Bank

Sources revealed that the current FEMA-related searches are connected to the Jaipur–Ringus Toll Road, operated by JR Toll Road Pvt Ltd, a subsidiary of RInfra. The ED is scrutinizing transactions made with Yes Bank between 2017 and 2019, alleging unauthorized transfer of funds abroad and non-compliance with FEMA regulations.

In June 2025, RInfra settled a ₹273 crore loan for the project, which was previously classified as a non-performing asset, with the company acting as the corporate guarantor. While the Engineering, Procurement, and Construction (EPC) contract for the toll road was entirely domestic, officials are investigating whether funds were routed abroad indirectly through internal transactions or inter-corporate deposits (ICDs) without approval from the Reserve Bank of India (RBI).

The probe also focuses on the non-disclosure of related parties such as CLE, which may have been used to mask the movement of funds.

### Reliance Infrastructure’s Response

RInfra maintains that the project involved no foreign exchange and stated it is fully cooperating with authorities. The company emphasized that its operations remain unaffected by the probe.

In a statement released on Tuesday, Reliance Infrastructure described the ED action as “dated” and unrelated to foreign exchange. The statement read:

> “In 2010, the company had awarded an EPC contract for the Jaipur–Ringus Toll Road to Prakash Asphaltings & Toll Highways. This was a domestic contract with no foreign exchange involved. The work was completed, and RInfra has had no continuing connection with the contractor. The toll road has been with NHAI for the last four years.”

The company reiterated its full cooperation with the authorities and stressed that the matter has “absolutely no impact” on its operations, financial performance, employees, shareholders, or stakeholders.

### Over ₹17,000 Crore Financial Irregularities Under Investigation

The ED has been investigating alleged financial irregularities and collective loan “diversion” amounting to over ₹17,000 crore by multiple group companies under Anil Ambani, including Reliance Infrastructure. These investigations are being conducted under the criminal provisions of the Prevention of Money Laundering Act (PMLA).

The agency’s action followed a report from the Securities and Exchange Board of India (SEBI), which alleged that RInfra “diverted” funds disguised as inter-corporate deposits (ICDs) to other Reliance Group companies via a company named CLE. It was claimed that RInfra did not disclose CLE as a “related party,” thereby avoiding necessary approvals from shareholders and audit panels.

This fresh round of searches adds to ongoing investigations into the Anil Ambani group, which has been under regulatory and enforcement scrutiny over alleged loan defaults and fund diversion.

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https://www.freepressjournal.in/mumbai/ed-conducts-searches-at-anil-ambani-linked-reliance-infrastructure-premises-in-fema-probe

banking, cryptocurrency, finance, regulation, technology

UK banks forge ‘digital sterling’ in landmark tokenization pilot

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**UK Banks Launch Live Pilot for Tokenized Sterling Deposits, Advancing Financial System Modernization**

UK banks are embarking on a live pilot phase for tokenized sterling deposits, marking a significant step toward modernizing the core infrastructure of the United Kingdom’s financial system through distributed ledger technology (DLT).

According to a press release dated September 26, UK Finance is leading this initiative with participation from major banks including Barclays, HSBC, Lloyds Banking Group, NatWest, Nationwide, and Santander. The project, running through mid-2026, aims to facilitate live transactions using tokenized sterling deposits.

### Pilot Focus and Objectives

The pilot will specifically test practical applications such as online marketplace payments, remortgaging, and digital asset settlement. Key goals include enhancing transaction speed and reducing fraud, thereby highlighting tangible benefits of tokenized deposits in everyday financial activities.

### Building on the Regulated Liability Network

This new pilot builds directly on the foundation established by the Regulated Liability Network (RLN), a multi-phase initiative exploring how tokenization can be applied to money circulating within the regulated financial system.

Previous RLN trials demonstrated that commercial bank deposits can be transformed into digital tokens without compromising the trust and protections fundamental to the banking sector. Transitioning into a live transaction phase allows UK Finance and its member banks to rigorously test this model at scale and across various real-world use cases.

### Guidance and Support from the Bank of England

The Bank of England has played a discreet yet influential role in shaping this direction. Governor Andrew Bailey recently encouraged banks to prioritize tokenized deposits over issuing proprietary stablecoins, citing tokenized deposits as a more stable and regulated pathway for modernizing money.

### Interoperability and Inclusive Access

A critical technical feature of the pilot platform is its full interoperability. As stated in the press release, the platform is being developed to seamlessly integrate with other emerging digital money and payment systems. This includes tokenized deposits, potential future central bank digital currencies (CBDCs), and projects like the planned digital gilt (DIGIT).

Furthermore, the pilot offers tokenization-as-a-service, enabling institutions without in-house capabilities to develop their own digital deposit systems to participate. This approach broadens access and helps establish an inclusive framework for digital payments across the UK financial landscape.

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This live pilot phase represents a pivotal milestone in the UK’s journey toward a more efficient, secure, and technologically advanced financial system. By leveraging tokenization and distributed ledger technology, UK banks are setting the stage for innovative payment solutions that promise to benefit consumers, businesses, and the economy as a whole.
https://crypto.news/uk-banks-forge-digital-sterling-in-landmark-tokenization-pilot/

cryptocurrency, finance, investment, regulation, technology

Analyst Highlights 2 Scenarios That Sends XRP Price To $9.6 And $33

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Scott’s experience spans a number of industries outside of crypto, including banking and investment. He has brought his vast knowledge from these sectors into the crypto space, allowing him to understand even the most complex topics and break them down in a way that is easy for readers from all walks of life to grasp.

Scott’s articles have helped demystify cryptocurrency processes, explaining how they work as well as the groundbreaking technology underpinning them. This technology has become increasingly important to everyday life, and Scott’s clear insights make it accessible to a wider audience.

With years of experience in the crypto market, Scott eventually focused on his true passion: writing. During this time, he has authored countless influential pieces that have drawn in millions of readers and helped shape public opinion on various critical topics.

His repertoire includes hundreds of articles covering multiple sectors in the crypto industry, such as decentralized finance (DeFi), decentralized exchanges (DEXes), staking, liquid staking, emerging technologies, and non-fungible tokens (NFTs), among others.

Scott’s influence extends beyond the readership of his publications. He also serves as a consultant for major projects within the space, advising on a range of issues from crypto regulations to new technology deployment.

In addition, Scott’s expertise covers community building, and he actively contributes to numerous initiatives aimed at furthering the development of the crypto industry. He is a strong advocate for sustainable practices and has championed discussions around green blockchain solutions.

Scott’s ability to stay aligned with market trends has made his work a favorite among crypto investors. Outside of his professional pursuits, he is an avid traveler, and his global exposure has deepened his understanding of the importance of technologies like blockchain and cryptocurrencies worldwide.

This international perspective has been key to his ability to connect socio-economic developments with technological trends around the globe like few others can.

Known for his dedication to community education, Scott works tirelessly to help people understand crypto technology and its impact on their lives. He is a well-respected figure in his community, inspiring and enlightening the next generation as they channel their energies into pressing issues.

Scott’s work stands as a testament to his commitment to education, innovation, and the promotion of ethical practices in the rapidly evolving world of cryptocurrencies. He remains steadfast on the frontlines of the crypto revolution, dedicated to shaping a future where technology develops ethically and benefits society as a whole.
https://www.newsbtc.com/analysis/xrp/xrp-price-to-9-6-and-33/

business, finance, insurance, policy, regulation

Insurers to pass full GST benefit to customers

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**Insurers to Pass Full GST Benefit to Customers**
*By Akash Pandey | Sep 21, 2025, 06:47 PM*

Insurance companies are preparing to implement the new Goods and Services Tax (GST) rates starting Monday. According to industry insiders, insurers will pass on the entire GST reduction directly to customers without altering product prices for the time being.

This initiative is expected to boost demand slightly, as many customers had postponed their insurance purchases in anticipation of the new tax regime.

**Implementation Status**

While some insurers are ready with their entire product portfolio updated to reflect the new GST rates, others may initially offer only their best-selling products. This phased approach will continue until all offerings are aligned with the revised tax structure.

This move is part of a broader industry effort to comply with the updated tax regulations while maintaining affordable insurance options for consumers.

**Margin Concerns**

Despite passing on the GST cut, insurers remain cautious about the potential impact on profit margins due to the withdrawal of input tax credit. The revised tax structure is seen as part of the government’s wider strategy to simplify and streamline taxation across sectors.

However, the long-term effects of these changes on both businesses and consumers are yet to be fully understood.
https://www.newsbytesapp.com/news/business/insurers-to-pass-on-gst-reduction-to-customers/story

business, finance, investigations, regulation

Adani Group demands accountability from Hindenburg after $150B losses

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**Adani Group Demands Accountability from Hindenburg Following $150 Billion Losses**

*By Akash Pandey | Sep 21, 2025, 05:26 PM*

The Adani Group is calling for accountability from Hindenburg Research after the US-based firm’s allegations led to a staggering loss of nearly $150 billion in shareholder value.

### SEBI Clears Adani Group of Violations

The Securities and Exchange Board of India (SEBI) recently concluded its investigation and cleared the conglomerate of any related-party violations under existing laws. A source close to the group questioned who would be held responsible for the massive losses suffered by millions of investors following Hindenburg’s report.

### Market Response: Stocks Rally After SEBI’s Clean Chit

Following SEBI’s ruling, the stocks of nine companies under the Adani Group witnessed gains ranging from 0.3% to 12.4%. Adani Power emerged as the biggest gainer, climbing 12.4% in stock price.

Despite this positive momentum, the combined market capitalization of these companies remains below ₹14 lakh crore, which is significantly lower than the pre-allegation peak of over ₹19 lakh crore.

### Regulatory Scrutiny Finds No Evidence of Wrongdoing

SEBI had launched a thorough investigation in 2023 in response to the Hindenburg allegations. The regulator found no evidence of fraud, market manipulation, or diversion of funds.

Additionally, a six-member committee appointed by the Supreme Court to examine the claims also cleared the Adani Group of any wrongdoing.

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The developments mark a crucial chapter in the ongoing saga between the Adani Group and Hindenburg Research, highlighting the impact of financial allegations on market valuations and investor sentiment.
https://www.newsbytesapp.com/news/business/adani-seeks-accountability-as-sebi-dismisses-hindenburg-allegations/story