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SEC Adopts Final Rules Under HFIA Act to Boost Foreign Insider Transparency

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Nexo Partners with Bakkt for US Crypto Exchange and Yield Programs

TLDR:

  • The HFIA Act was enacted on December 18, 2025, mandating SEC action within 90 days of enactment.
  • FPI directors and officers must file Section 16 reports electronically and in English by March 18, 2026.
  • The SEC removed the blanket Section 16 exemption, replacing it with narrower short-swing and short-selling carve-outs.
  • Ten percent beneficial owners of FPI equity securities are excluded from the new Section 16(a) reporting rules.

The HFIA Act has prompted the Securities and Exchange Commission to adopt final rule and form amendments under Section 16 of the Securities Exchange Act of 1934.

These changes require directors and officers of foreign private issuers to disclose their holdings and transactions in equity securities.

The rules take effect on March 18, 2026. This move follows the enactment of the Holding Foreign Insiders Accountable Act on December 18, 2025, bringing greater transparency to FPI insider activity.

SEC Revises Section 16 Rules for Foreign Private Issuers

The HFIA Act amended Section 16(a) of the Exchange Act to expand reporting requirements. Directors and officers of FPIs with equity securities registered under Section 12 are now subject to these rules.

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However, the law excludes “10 percent holders” who beneficially own more than 10 percent of any class of FPI equity securities.

Under the revised rules, covered insiders must file Section 16 reports electronically and in English. This requirement marks a clear shift from prior exemptions that FPI insiders previously enjoyed.

As a result, the reporting process becomes more standardized and accessible to U.S. investors.

The SEC amended Rule 3a12-3(b) to remove the existing blanket exemption from Section 16 entirely. In its place, the rule now provides narrower exemptions. These cover only the Section 16(b) short-swing profit rules and the Section 16(c) short selling prohibition.

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Additionally, Rule 16a-2 was updated to formally exclude 10 percent holders of FPI equity securities from Section 16(a) requirements.

This exclusion ensures that minority beneficial owners are not swept into the new reporting framework. The change also aligns the rule text with the statutory language of the HFIA Act itself.

Reporting Deadlines and Compliance Timeline Under the HFIA Act

The HFIA Act set a firm deadline for the SEC to act. The Commission was required to issue final regulations no later than 90 days after the December 18, 2025 enactment date. The SEC met that mandate by adopting these amendments ahead of the March 18, 2026 effective date.

Directors and officers of qualifying FPIs must begin filing Section 16 reports starting March 18, 2026. This date serves as both the statutory effective date and the compliance start point.

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Covered insiders should therefore prepare their disclosure systems well before that deadline.

The rule changes also revise the relevant Section 16 report forms to reflect the new requirements. These form updates ensure that the reporting structure matches the amended statutory framework. Moreover, they provide clarity on what information FPI insiders must include in each filing.

The SEC’s action brings FPI insiders closer in line with domestic reporting standards. This regulatory alignment gives investors better visibility into the trading activity of foreign company insiders. It also strengthens the overall integrity of U.S. equity markets.

 

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Crypto World

The moment AI agents stop assisting and start acting

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Dana Love

Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial.

Is artificial intelligence going to steal my job? When skeptics first encountered early versions of ChatGPT along with generative photo and video tools, many dismissed the idea that AI could ever replace human workers. Today, the more relevant question is not whether AI will enter the workplace, but whether organizations are prepared for intelligent systems that increasingly operate alongside employees as active participants in daily operations. Today’s work environment emphasizes AI’s role across social platforms, productivity tools, and enterprise software, and the first wave of company-wide AI systems is already being deployed.

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Summary

  • AI is shifting from assistant to actor: The real change isn’t job replacement, but AI agents moving from suggesting tasks to executing them inside daily workflows.
  • Collaboration beats substitution: Research shows AI-enabled teams outperform AI-equipped ones — productivity gains come from integration, not delegation.
  • Entry roles evolve, not vanish: Routine tasks will be automated, but human value shifts toward oversight, judgment, and coordination alongside autonomous systems.

With that said, AI is not coming for your job, at least not permanently. Instead of replacing employees at entry-level positions, AI will become a colleague at work, acting as an assistant. In a worst-case scenario, entry-level to mid-level employees might experience temporary job displacement due to AI, with a 2025 Goldman Sachs report stating that unemployment would increase by half a percentage point. The bottom line, however, is that your job isn’t going anywhere yet. 

An introduction to your newest coworker 

To break this down, your new colleague is an AI agent, similar to any employee; they’re trained to master the job role, they make mistakes, ask for feedback, and require you to communicate to accelerate the potential of your team.  

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The autonomous digital worker can execute tasks based on the data and context it’s given, but this assistant isn’t made for every professional field. As the workplace enters its next technological transformational era, analysts continue to see a broad override in AI agents taking over human roles as a distant reality, yet professionals are not dismissing them completely. 

Assimilating to the new era of AI collaboration

If AI were to be widely adopted across certain industries, AI could displace 6-7 percent of the United States workforce. For the time being, however, AI will be rolled out on an assistant level, without completely overriding the responsibilities of entry to mid-level positions.

In addition, economists predict that agents will increase productivity across the professional landscape through a transitional movement in AI company culture that’s going from AI-equipped employees to AI-enabled ones. Research conducted by the Digital Data Design at Harvard found that the most innovative solutions came from AI-enabled teams as opposed to AI-equipped teams. Meaning that your AI agent isn’t just there to give you your next chunk of information, but instead, it’s actively aiding collaborative efforts with team members across the organization. 

Collaboration is reaching new heights, and myth is starting to become reality. According to The Guardian, specific AI systems are breaking the corporate ladder, hiring fewer people in creative fields, specifically at companies that have highly integrated AI into their day-to-day work. The hardest roles hit were junior roles. In other cases, data scientists are distressed by the sophistication of AI programmes, as some continue to find ways to disable oversight systems. The “AI takeover” can be a threat, but for now, it’s dependent on region and industry. 

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Jobs are not simply going to disappear. It means employees will be evaluated on how effective they will be alongside these new systems and how well they integrate them into their daily workflows. As for the next decade, it’s unclear whether the corporate world will introduce a new type of AI agent, one that may need a whole new introduction in itself to an organization. As these technologies continue to develop and become more advanced, employees will need to find new ways to train themselves to fit the AI agent’s standards.

Understanding where everyone’s roles land

The transition from human entry-level workers to AI agents does not mean removing the first rungs of the corporate ladder. Instead, low-level, routine tasks that junior and associate employees have traditionally handled will increasingly be managed in partnership with automated systems. Hiring for these roles will not disappear, but the nature of the work will change. Studies by McKinsey indicate that AI has already automated 44 percent of working hours in the United States and that by 2030, AI-driven automation could generate up to 2.8 trillion dollars in economic value.

These early systems represent the first generation of AI agents. They are fast, highly efficient, and increasingly capable of matching the requirements of many professional roles. For years, big technology companies have steadily integrated AI into every part of their platforms, and that trend has now reached a point where assistance is beginning to turn into action. When AI moves from suggesting what should be done to actually helping carry it out, the real challenge for organizations is not displacement, but how effectively people and intelligent systems learn to work together.

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Dana Love

Dana Love

Dana Love is a U.S. business executive and technology leader specializing in artificial intelligence, blockchain, and enterprise software. As CEO of PoobahAI and Chief Technology Officer of Andromeda Protocol (a Layer 1 Cosmos blockchain), Dana bridges cutting-edge web3 innovation with practical enterprise adoption. With over 33 years of technology leadership, Dana has led divisions of public companies, including GTE (now Verizon), Prosodie Interactive (now CapGemini), and ADC Telecom. He has co-founded five businesses with four successful exits, including Cisco Investments-backed Metacloud and Warburg Pincus-backed Radnet. Dana’s entrepreneurial journey and exit strategy expertise were featured as the November 2025 Finance World Magazine cover story. A native New Englander, Dana currently resides with his wife and their four children in Parker, Texas.

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Crypto World

US Job Cuts Surge to Highest Level Since Pandemic as AI Reshapes the Workforce

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Nexo Partners with Bakkt for US Crypto Exchange and Yield Programs

TLDR:

  • Over 1.17 million US job cuts were announced in the past year, the highest total recorded since the COVID-19 pandemic era.
  • The US government led all sectors with 317,000 cuts, followed by UPS at 78,000 and Amazon with 30,000 job reductions.
  • Companies openly state that AI tools allow smaller teams to handle the same workload, replacing $150K–$200K salary roles.
  • Analysts warn of a ghost economy where corporate output grows but household income and consumer participation steadily decline.

US job cuts have reached alarming levels not seen since the COVID-19 pandemic. Over 1.17 million job cuts were announced across the country in the past year.

Around 600,000 of those cuts came in the first two months of 2026 alone. Companies across multiple sectors openly cite artificial intelligence as a driving force.

This trend is unfolding against the weakest white-collar hiring market since 2008, raising concerns about broader economic stability.

Major Companies Lead a Wave of Workforce Reductions

The scale of recent layoffs spans both public and private sectors. The US government alone accounted for 317,000 cuts, the largest single contributor to the total. UPS followed with 78,000 job reductions, while Amazon announced cuts of 30,000 workers.

Other major corporations have also trimmed their workforces considerably. Intel cut 25,000 jobs, and Citigroup reduced staff by 20,000. Nissan matched that figure, while Microsoft announced 15,000 cuts.

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Market analyst account Bull Theory posted about the situation on social media platform X. The post noted that Verizon cut 13,000 jobs, Accenture removed 11,000, and Salesforce and Block each reduced headcount by 4,000. The figures paint a broad picture of workforce contraction across industries.

Companies are now openly stating that smaller teams can perform the same volume of work. This shift reflects how AI tools are replacing roles previously held by high-earning professionals. The pattern suggests a structural change rather than a temporary economic adjustment.

The Ghost Economy Risk and Long-Term Consumer Demand

The concern goes beyond job numbers alone. Higher-income workers earning between $150,000 and $200,000 annually drive a large portion of US consumer spending. When software replaces those roles, corporate margins rise but household income falls.

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There is also a secondary effect worth noting. The same companies cutting staff sell products and services to that same income group.

If AI-driven layoffs reduce household income at scale, demand across retail, fintech, travel, and enterprise services weakens over time.

Bull Theory’s post warned of what it called a “ghost economy,” where output grows but broad participation in that growth declines.

Short-term profitability may improve, yet the customer base supporting those profits gradually shrinks. This creates a tension between rising productivity and weakening consumer demand.

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Housing, autos, travel, subscriptions, and credit quality all become sensitive under these conditions. The labor market must absorb this transition before demand weakens at the economic core.

Without that absorption, the gap between corporate earnings and household financial health will continue to widen.

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Crypto World

US DOJ Seized $580M in Crypto from ‘Chinese Transnational Criminals‘

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China, Government, United States, Crimes, Department of Justice

The seizures and freezing over three months were conducted by the District of Columbia’s Scam Center Strike Force, established by US Attorney Jeanine Pirro in November.

Officials with the US Department of Justice reported “freezing, seizing, and forfeiting” more than $578 million worth of digital assets tied to criminal groups as part of a task force’s efforts targeting “Southeast Asian cryptocurrency-related fraud and scams.”

In a Thursday notice, the Justice Department said the frozen and seized crypto had been “stolen by Chinese transnational criminal organizations” using websites and social media platforms to target US residents. The actions were taken by the District of Columbia’s Scam Center Strike Force, established by former Fox News host, now US Attorney Jeanine Pirro in November. 

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“Seizures of cryptocurrency is one important part of the Scam Center Strike Force’s work,” said Pirro. “Through the legal process, my Office will seek to forfeit these funds and return them to victims to the maximum extent possible.”

China, Government, United States, Crimes, Department of Justice
Source: Jeanine Pirro

Pirro’s comments signaled that many of the funds would not be used to bolster the Strategic Bitcoin Reserve and digital asset stockpile established via executive order by US President Donald Trump in March 2025. According to data from BitcoinTreasuries.NET, US authorities may hold as much as 328,372 Bitcoin (BTC) through various criminal seizures, but the White House had not publicly commented on the stockpile’s size as of Friday.

Related: South Korea’s tax office leaks wallet seed and loses $4.8M in seized tokens

Crypto scams surged in 2025

According to blockchain analytics platform Chainalysis, the number of incidents involving impersonation scams tied to crypto rose by about 1,400% year over year in 2025. Many of the scams included pig butchering and investment schemes, with the average amount stolen through impersonation scams increasing by 600% over the same period.

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Some of the parties involved have gone to prison in the US. Earlier this month, a judge sentenced an individual to 20 years in prison for orchestrating a scam to steal more than $73 million from victims, many of whom were based in the US.

Magazine: Clarity Act risks repeat of Europe’s mistakes, crypto lawyer warns