HARTFORD, Conn. (AP) — Tristen Newton scored 22 points to lead No. 6 UConn to a 107-67 rout of Stonehill College on Saturday.

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Consumer cryptocurrency trading should be regulated as gambling, the treasury committee has urged. In a new report, the committee called for consumer trading in unbacked crypto assets to be treated in regulation as gambling. The cross-party committee of MPs said cryptocurrencies such as Bitcoin are being used by criminals in scams and money laundering. Unbacked crypto assets – often called cryptocurrencies – are not supported by underlying assets, the committee added. They pose significant risks to consumers, given their price volatility and the risk of losses, according to the MPs, who said retail trading in unbacked crypto more closely resembles gambling than a financial service and should be regulated as such. The report said: “We strongly recommend that the government regulates retail trading and investment activity in unbacked crypto assets as gambling rather than as a financial service, consistent with its stated principle of ‘same risk, same regulatory outcome’.” The committee pointed to HM Revenue and Customs (HMRC) figures indicating that around 10 per cent of UK adults hold or have held crypto assets. The MPs also said potential productive innovation in financial services should not be unduly constrained. They said technologies underlying crypto assets may bring some benefits to financial services, particularly for cross-border transactions and payments in less developed countries. A balanced approach should be taken to supporting the development of crypto asset technologies, while avoiding spending public resources on projects without a clear, beneficial use, the MPs said. Harriett Baldwin, chair of the treasury committee, said: “The events of 2022 have highlighted the risks posed to consumers by the crypto asset industry, large parts of which remain a wild west. “Effective regulation is clearly needed to protect consumers from harm, as well as to support productive innovation in the UK’s financial services industry. “However, with no intrinsic value, huge price volatility and no discernible social good, consumer trading of cryptocurrencies like Bitcoin more closely resembles gambling than a financial service, and should be regulated as such. “By betting on these unbacked ‘tokens’, consumers should be aware that all their money could be lost.” The committee is considering central bank digital currencies as a separate piece of work. A treasury spokesperson said: “Risks posed by crypto are typical of those that exist in traditional financial services and it’s financial services regulation – rather than gambling regulation – that has the track record in mitigating them. “Crypto offers opportunities but we are taking an agile approach to robustly regulating the market, addressing the most pressing risks first in a way that promotes innovation.” Read More Crypto rules get final approval to make Europe a global leader on regulation Is my money safe? What you need to know about bank failures Nearly 80% of APP scam cases start online, says UK Finance Charity boss speaks out over ‘traumatic’ encounter with royal aide Ukraine war’s heaviest fight rages in east - follow live

By Gram Slattery RYE, New Hampshire Sunday afternoon for Ron DeSantis began at a restaurant. The Florida governor

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Elon Musk has accepted an offer from legendary MMA fighter George St-Pierre to train him for his upcoming fight against Mark Zuckerberg. The two tech billionaires agreed to a “cage match” last week after Mr Musk first proposed a fight following rumours that the Meta boss was working on a new platform to rival Mr Musk’s Twitter. The UFC Apex centre in Las Vegas will be the likely location of the contest, which has been endorsed by UFC president Dana White. Mr Zuckerberg already practises martial arts and competed in his first jiu jitsu tournament earlier this year. Mr Musk, by contrast, claims to “almost never work out”, though does have a significant size advantage over his rival. Former UFC champion St-Pierre, who retired in 2019, is widely considered one of the greatest ever mixed martial artists, having won both the welterweight and middleweight titles. Addressing Mr Musk on Twitter over the weekend, the retired fighter wrote: “I’m a huge fan of yours and it would be an absolute honour to help you and be your training partner for the challenge against Zuckerberg.” On Monday evening, Mr Musk replied: “OK, let’s do it.” The SpaceX, Tesla and Twitter boss revealed that he had a “practice round” with podcaster and jiu jitsu fighter Lex Fridman on Monday evening. Mr Fridman also sparred with Mr Zuckerberg last week, with a video showing the Facebook founder submitting the black belt with a choke hold. No date has been set for the fight, though both opponents have spoken to the UFC president about the contest. Mr White said that the pair were “absolutely dead serious” about the bout. “They both said, ‘Yeah, we’ll do it’. They both want to do it’,” he told TMZ. “This would be the biggest fight ever in the history of the world. Bigger than anything that’s ever been done. It would break all pay-per-view records... You don’t have to be a fighting fan to be interested in this fight. Everybody would want to see it.” Read More Elon Musk confirms cage fight with Mark Zuckerberg Twitter hacker who took over Musk, Obama, Biden accounts gets prison sentence Elon Musk confirms cage fight with Mark Zuckerberg Elon Musk sparks outrage with threat to ban ‘cisgender’ as a ‘slur’ on Twitter

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TOKYO & CHESTERBROOK, Pa.--(BUSINESS WIRE)--Sep 12, 2023--