In the words of FSB Chair Quarles,

"[e]xamining scenario analysis presents many challenges: A very long time horizon - which requires dynamic balance-sheet analysis - and the need to capture the interplay between the macro-economy and drivers of climate-related risks are two such challenges that would need to be overcome." Also, there is a "current lack of usable data." Further, he stated: "Climate-related risks vary across jurisdictions, and we need to look at how risks might be…

This letter is likely the first step in Senator Warren introducing legislation to expand the authority of the SEC or the CFTC to regulate cryptocurrency exchanges. See also "."

The most important questions asked by Senator Warren have fairly straightforward answers: (i) the SEC does not have authority to regulate exchanges that trade cryptocurrency assets that are not securities; and (ii) given that these exchanges are not regulated, the SEC does not believe that these exchanges are…

While the process might have seemed straightforward at the time, the issuer ultimately from soft drink manufacturer to blockchain technology firm.

This is a good step. Regulators should be focusing at least as much on education as on imposing more prohibitions.