Latest news with #ScottLucas
Crypto Insight
9 hours ago
- Business
- Crypto Insight
JPMorgan, SEC meet to discuss capital markets moving onchain
Executives with America's biggest bank met with the Securities and Exchange Commission's Crypto Task Force to discuss digital asset regulation and potential ramifications of capital markets moving onchain. The JPMorgan Chase executives discussed with the SEC the 'potential impact of existing capital markets activity migrating to public blockchain,' including which areas of the existing model might change and how firms could assess the risks and benefits of those changes, according to an SEC note shared on Tuesday. The two groups also discussed JPMorgan's existing 'business footprint' in the crypto space, including its current digital platform that handles repurchase agreements — a type of short-term borrowing in financial markets that falls under its 'Digital Financing' and 'Digital Debt Services' offerings. JPMorgan also assessed where it could carve out a 'competitive angle' — to stay ahead of the race as financial institutions look to the blockchain for faster, cheaper transactions while also unlocking new revenue streams through tokenized assets. Three JPMorgan executives meet with SEC Scott Lucas, Justin Cohen and Aaron Iovine were the three JPMorgan executives who spoke with the SEC's crypto group. Lucas is the firm's head of markets for digital assets, while Cohen is the global head of equity derivatives development; both are managing directors at the firm. Iovine is an executive director and JPMorgan's global head of digital asset regulatory policy. JPMorgan pilots JPMD deposit tokens JPMorgan's meeting with the SEC comes as the firm announced a token deposit pilot program on Tuesday, with the bank launching a deposit token, JPMD, on Coinbase's blockchain Base. Coinbase's institutional clients can use JPMD for transactions once the pilot is completed, which is expected to span over several months. A day earlier, JPMorgan filed a trademark application for JPMD — which outlined a range of crypto-related services, including digital asset trading, transfers and payment processing. JPMorgan exec says no plans yet for stablecoin The JPMD trademark sparked speculation that JPMorgan would issue a stablecoin with other big banks; however, Naveen Mallela, an executive at JPMorgan's blockchain division, Kinexys, told Bloomberg that token deposits are a 'superior alternative to stablecoins' for institutions, noting that their fractional reserve backing makes them more scalable. Deposit tokens represent dollar deposits held in customer bank accounts and operate within the traditional banking framework more so than stablecoins, which are merely digital representations of fiat currencies backed by cash and cash equivalents. Source:
Miami Herald
5 days ago
- Politics
- Miami Herald
‘No Kings' Rally Organizers Issue Video Update
The organizers of this weekend's upcoming "No Kings" protests have issued a video reminding people about the event. The video, released on the No Kings website, reminds those planning to attend of details and calls on people to join the protests. Activists are coordinating a protest on June 14, targeting a military-style parade in Washington, D.C, celebrating the 250th birthday of the U.S. Army, planned by the Trump administration on Flag Day, which coincides with the president's birthday. There have been several nationwide protests against Trump or his administration's policies-such as the "Hands Off" demonstrations-but this weekend, on the backdrop of anti-immigration unrest, which, like in Los Angeles, has sometimes turned violent, is set to see the largest gathering of anti-Trump movements since his inauguration. What To Know The video reiterated previously released plans about the day and issued a rallying call to supporters. Over photos of other protests-including those that have been taking place in Los Angeles-the American flag, and Trump himself, a voiceover said: "Every day across this country something powerful is happening. People are rising, for each other, for democracy and for our collective freedom. "We have chosen not to live in fear or let division destroy this country." The voiceover added that "our rights and our freedoms are under attack" and that protest will help protect rights while Trump "wastes" money on a military parade, calling him "a wannabe King." "We believe power belongs with the people," the voiceover said. The "No Kings" group, which is organizing the protest, is recruiting volunteers online and working with local chapters in more than 30 states with over 100 other organizations. Organizers from the 50501 Movement, the name of which references "50 states, 50 protests, one movement," plan demonstrations in over 1,500 locations nationwide under the "No Kings" banner. The protests are aimed at what participants describe as "corruption" and "authoritarian" tendencies in the Trump administration, including decisions on immigration and uses of federal force in cities like Los Angeles. Speaking to Newsweek, Scott Lucas, professor of international politics at University College Dublin, said: "I don't think they are going to immediately dissuade the Trump administration from pursuing what in effect is authoritarian rule." "The Trump folks will try and portray the protesters as being the dangerous enemy within that they are acting against," he continued. "But the point of protest is that you don't expect any immediate capitulation. First of all you show that you haven't been broken so simply turning out and marching shows that people are still concerned about rights, they're still concerned about decency they're still concerned about tolerance, they're still concerned about their systems." He added: "The protests have an impact because Americans are still standing up for what they think is vital about America." Asked in the White House on Thursday for his thoughts on the protests, Trump said: "I don't feel like a king I have to go through hell to get stuff approved. "A king would say 'I'm not going to get wouldn't have to call up [House Speaker] Mike Johnson and [Senate Majority Leader John] Thune and say fellas you've got to pull this off and after years we get it done. No no we're not a king, we're not a king at all." The "No Kings" group previously said: "Real power isn't staged in Washington. It rises up everywhere else." A map shows the cities that are hosting Saturday's protests. The president has warned those planning to protest the military parade that they will "be met with heavy force." Related Articles Donald Trump Approval Rating Bounces Back After Musk, LA FeudsThe 'Beautiful Game' at Risk From Ugly U.S. Migration Policies | OpinionMap Shows Route of Trump's Military Parade Through DCFreed January 6 Prisoner Launches Bid for Congress 2025 NEWSWEEK DIGITAL LLC.
France 24
26-05-2025
- Politics
- France 24
Controversial aid group starts operations in Gaza: "Not a viable solution", expert says
Controversial aid group starts operations in Gaza: "Not a viable solution", expert says Middle East To display this content from YouTube, you must enable advertisement tracking and audience measurement. Accept Manage my choices One of your browser extensions seems to be blocking the video player from loading. To watch this content, you may need to disable it on this site. Try again 12:38 A PROPOS © FRANCE 24 in 12:38 min From the show France 24's Sharon Gaffney speaks to Scott Lucas, Professor at the University College Dublin about the controversy surrounding a U.S.- and Israel-backed group tasked with delivering aid to Gaza. The Gaza Humanitarian Foundation says it has began its operations on Monday despite opposition from the UN and most humanitarian groups, as well as the unexpected resignation of its executive director over the weekend. This all comes in the wake of deadly Israeli airstrikes, including one on a school shelter, as Gaza's humanitarian crisis deepens.
Yahoo
12-03-2025
- Politics
- Yahoo
Losing foothold in Kursk Oblast would be 'politically significant,' experts say
As Russian troops are set to push Ukrainian soldiers out of Kursk Oblast, experts say Kyiv's withdrawal from the region could be "politically significant." Ukraine's seven-month-long hold of a small portion of Russia's Kursk Oblast might be ending. On March 12, Russian troops entered the town of Sudzha, which served as Ukraine's main stronghold in the region. Fearing encirclement, Ukrainian troops have begun to pull back closer to the border. The news comes a day after Ukraine had agreed to the U.S. proposal for a 30-day-long ceasefire. The Kremlin said "it was studying the proposal." "It feels like we're getting to a position where people are trying to settle the front lines in anticipation that we might have a set of negotiations," said Scott Lucas, a political scientist and professor of American Studies and International Politics at University College Dublin's Clinton Institute. Read also: Do US-Russia talks on Ukraine mark a reappearance of colonial power play? Western and Ukrainian experts who spoke to the Kyiv Independent said that Ukraine has already achieved certain political objectives by invading Russia in the first place and holding onto parts of Kursk Oblast for months. Kyiv will now have to decide whether it should reinforce the Kursk salient by sending more troops and resources that could be deployed elsewhere, or organize a retreat to avoid what could be a disastrous scenario on the ground. "Ukraine wants to be able to show that it continues to stand and to resist, even as the Trump administration walks away," Lucas said, referring to the U.S.' cutting off its military aid and intelligence sharing earlier in March. The U.S. on March 11 agreed to lift the ban on intelligence sharing following talks with the Ukrainian side in Saudi Arabia. However, the future U.S. support — and Europe's readiness to take the lead in providing Ukraine with military aid — remains uncertain. And losing a foothold in Russia may have an impact on the mood both inside and outside Ukraine. Kyiv has repeatedly pointed out the success in Kursk Oblast even as Russian troops advanced significantly along the front lines in Donetsk Oblast, capturing long-time Ukrainian strongholds of Vuhledar, and Kurakhove. Both Kyiv and Western countries have labeled the partial occupation of Kursk Oblast as a crucial bargaining chip for possible peace negotiations when the time comes. "(Ukraine's) position in Kursk is an important one because certainly it's something that would factor in any negotiation that may come about in the coming year," then U.S. Secretary of State Antony Blinken told reporters in January. Russia's inability to protect its own territory last August and its decision to pursue further invasion of Ukraine at the cost of keeping safe its own territory resulted in "negative sentiments" domestically, according to Oleksiy Melnyk, the co-director of foreign policy and international security at the Kyiv-based think tank Razumkov Center. "It's not about the city of Sudzha or square kilometers, but about Russian territorial integrity," Melnyk said. But it may have been a poor decision for Kyiv to publicly discuss its openness for trading the Kursk salient for Ukrainian territory, he added. Earlier in February, President Volodymyr Zelensky told the Guardian that he planned to play the Kursk card in potential negotiations to "swap one territory for another" without clarifying which part of Russian-occupied territory Kyiv would ask for in return. Disclosing Ukraine's negotiation position has likely served "as a digger" for Moscow to concentrate its effort to deprive Ukraine of such a leverage, he stressed. Moscow is currently accelerating its push in Kursk Oblast, with the Russian Defense Ministry claiming on March 11 that it recaptured 12 settlements and 100 square kilometers (40 square miles) of territory there. Ukrainian troops on the ground have told the Kyiv Independent in recent days that the situation is ever more critical, as the logistics were hampered. "Losing Kursk, people begin to question whether or not you just have to simply give up." Russian forces have gained ground south of Sudzha, potentially cutting off some Ukrainian positions from the rest of the salient. Ukraine's Commander-in-Chief, Oleksandr Syrskyi, denied threats of encirclement. Losing the Kursk salient would likely not result in a further decline of U.S. support as "we can't get into negative numbers in that sense," according to Steven Horrell, a non-resident senior fellow at the Center for European Policy Analysis. Hanging onto the Kursk Oblast territory is an important bargaining chip "in the international eyes," with the operation allowing Ukraine to show Western countries that it can still strike back despite battlefield setbacks, Horrell said. "I think the surge of (Western) support after the Kursk offensive was concrete proof of that," he added. Now, with the operation seemingly dying out slowly, Ukraine's potential retreat from Kursk Oblast can reinforce U.S. President Donald Trump and his team's point that "there is no way Ukraine can win," Horrell said. "Losing Kursk, people begin to question whether or not you just have to simply give up," Lucas said. Read also: Temporary ceasefire or redrawing borders? What 'territorial concessions' mean to Ukraine, Russia, and the US We've been working hard to bring you independent, locally-sourced news from Ukraine. Consider supporting the Kyiv Independent.
Al Jazeera
03-03-2025
- Politics
- Al Jazeera
Ukraine's Security: US Wavers, But Will Europe 'Step Up'?
Scott Lucas, a Birmingham professor, examines the Ukraine-US fallout—can Europe and the world step up to ensure Ukraine's security?
