The crypto industry is still reeling from a bruising year of plunging prices and a crisis of confidence that led to the collapse of some of the sector’s biggest players. Photo: FT montage | Bloomberg

US crackdown turns up the heat on crypto market

US authorities have begun the year with a crackdown on crypto companies and their products at such a pace that executives fear the industry is being pushed out of one of its biggest markets. In recent weeks, US regulators, led by the Securities and Exchange Commission, have fired off a series of enforcement actions against some of the biggest digital asset companies and their tokens. At the same time, many of the banks on which these companies rely for payments and custody of assets are also coming under fresh scrutiny. (Financial Times | Feb 16)

Labor agency's court loss may inform 401(k) fiduciary regulation

The US Labor Department’s federal court defeat in a case challenging its expanded definition of retirement plan rollover advice is likely to influence its strategy in writing a new regulation. The Employee Benefits Security Administration has previewed rulemaking that would serve to cover larger portions of the insurance and securities markets by its strict fiduciary standard of advice. A Florida federal district court Feb. 13 struck down a portion of the agency’s 2021 guidance that expanded the definition of a retirement plan fiduciary. (Bloomberg Law | Feb 16)

SEC finalizes rule shortening trading settlement cycle, but timeline irks some

The Securities and Exchange Commission on Wednesday finalized a rule to shorten the US securities settlement cycle. In a 3-2 vote, with the commission's two Republicans dissenting over concerns about the compliance timeline, the SEC agreed to accelerate the settlement cycle to T+1 — settling a trade one business day after it is executed — from T+2, or two business days. (Pensions & Investments | Feb 15)

Investors should not expect much relief from volatility

2022 was such a white-knuckle year for interest rates and market valuations. Investors should be forgiven for hoping that 2023 will be different. It will be different, but they should not expect much relief from volatility. The strong US jobs figures for January demonstrate that real-time economic releases still have the power to surprise. But the more meaningful long-term matter for investors to keep in mind is that we have transitioned from a world of quantitative easing to one of tightening. (Financial Times - opinion | Feb 15)

Markets come to grips with the Fed on interest rates

Markets finally appear to be backing down in their long-running game of chicken with the Federal Reserve. A bet by investors that slowing inflation would prod the central bank to begin cutting interest rates later this year drove a significant January rally, even as Fed officials insisted that it was too early to think about shifting policy. (The Wall Street Journal | Feb 15)

Legendary cybersecurity expert and New York Times best-selling author Bruce Schneier reveals how using a hacker’s mindset can change how you think about your life and the world.

'A Hacker’s Mind' — how the elites exploit the system

Book of the Week: What does the computer world have to teach us about designing for resilience in other domains? Quite a lot, argues Bruce Schneier, in a new book that sees the security expert turn his gaze to the increasingly vulnerable financial, legal and political systems that underpin society. Forget the lonely teens in hoodies, says security expert Bruce Schneier — it’s the rich and powerful who undermine the rules

— Financial Times

Don't expect cyber insurance premiums to decrease anytime soon. 

Insurers are leery of how long-term risks will play out, including yearslong data-breach lawsuits. Most major cyber insurers are willing to write insurance for their largest customers up to around $15 million. But for big companies where cyberattacks and collateral damage can end up costing much more, a patchwork of several policies will be required.

— The Wall Street Journal

5 steps to closing the cyber skills gap

Cybersecurity was named as one of the top issues facing the world at Davos 2023. Experts urged for a global response to the ‘cyber storm’, observing that the next pandemic could be the cyber pandemic. The acute shortage of relevant first responders, i.e., cybersecurity professionals, further complicates and exacerbates the issue. It’s well known that most of an iceberg sits below the water surface, and this is a good way to think about the skills gap we are facing in cybersecurity.

— World Economic Forum

Sign up for cybersecurity advisories from the

Cybersecurity and Infrastructure Security Agency here.

Illustration: Teo Georgiev | Wired

We’re all living under 'Gravity's Rainbow'

Looming apocalypse. Paranoid conspiracies. Rocket-obsessed oligarchs. As Thomas Pynchon’s novel turns 50, its world feels unnervingly present.

— Wired

When financial bubbles are hard to pop

Despite appearing unsustainable, financial bubbles can last a surprisingly long time. Consider three: Japanese government bonds, the US stock market and Chinese real estate.

— Bloomberg Businessweek (remarks)

Juggling time zones for work? These tools can help.

There’s one skill all remote workers, workcation-ers, frequent travelers and, frankly, anyone with co-workers in other states or countries must have: the ability to navigate multiple time zones. Here are some essential tech tools for chaos-free communicating across time zones.

— The Wall Street Journal