News and reports from the Department of Commerce.

In a recent roundtable discussion with National Hispanic-Serving Institutions (HSIs) across the country, Secretary of Commerce Gina Raimondo highlighted the importance of equity, access to education, and a skilled workforce. The event, hosted by the Hispanic Association of Colleges and Universities, marked the beginning of National Hispanic-Serving Institutions Week, which precedes Hispanic Heritage Month. During the roundtable, Secretary Raimondo emphasized the crucial role that HSIs play in preparing the next generation of leaders for the jobs of the future.

The U.S. Department of Commerce's Economic Development Administration (EDA) has announced the winners of the 2023 STEM Talent Challenge. This competition, managed by the EDA, aims to support local innovation economies and develop STEM talent across the country. As part of President Biden's economic strategy, known as Bidenomics, these awards are a crucial component of investing in American workers and talent streams.

Ripple, the blockchain-based digital payment network, has announced that it will be hiring the majority of its new employees from jurisdictions with more regulatory clarity for cryptocurrencies than the United States. This decision comes after Ripple faced regulatory scrutiny in the U.S., though it won a court victory earlier this year when a judge ruled that its token XRP is not a security.

The Information Technology Industry Council (ITI) has applauded the release of a draft of the Indo-Pacific Economic Framework for Prosperity (IPEF) Supply Chain Agreement and said input from private sector stakeholders will help improve the agreement further. The landmark agreement is intended to enable partner countries to strengthen critical supply chains.

The Information Technology and Innovation Foundation (ITIF), a science and tech policy think tank, has issued a new report which found that expanding the list of products covered by the Information Technology Agreement (ITA) would benefit the global economy. The ITA is a commitment made by dozens of members of the World Trade Organization to exempt certain IT products from tariffs.

Majority Whip Tom Emmer has announced a plan to sponsor an appropriations amendment to restrict the U.S. Securities and Exchange Commission's (SEC) use of funds for enforcement actions related to digital assets until a comprehensive regulatory framework is in place for the digital asset industry. The SEC has accused numerous cryptocurrency exchanges of violating securities laws this year, while members of the crypto industry argue that digital assets are not covered by existing regulations.

Brazil, Russia, India, China and South Africa have invited six additional countries to join the BRICS alliance, including major oil and critical mineral producers.

The U.S. Department of Commerce recently released the text of the proposed Indo-Pacific Economic Framework for Prosperity (IPEF) Supply Chain Agreement as part of its efforts to increase transparency across the U.S.

The National Federation of Independent Business (NFIB), a group advancing the interests of small businesses, filed an amicus brief in the U.S. Supreme Court case of Moore v. United States.

The U.S. Securities and Exchange Commission recently filed charges against John DeSalvo, a former New Jersey corrections officer, for orchestrating a cryptocurrency fraud scheme that primarily targeted law enforcement personnel.

Following a lawsuit by the U.S. Federal Trade Commission, a federal court issued a temporary shutdown order for a business opportunity scheme run by Automators, which had attracted $22 million in investments from consumers with false claims of substantial income and profits.

The U.S. Securities and Exchange Commission recently brought insider trading charges against Romero Cabral da Costa Neto, who allegedly engaged in trading activities based on confidential information during his tenure as a visiting attorney at a global law firm.

On Aug. 29, 2023, the EDA awarded a multi-million million grant to North Baldwin Utilities in Bay Minette, Alabama.

On August 28, 2023, the Department of Commerce announced $28 million in funding to support large-scale marine debris removal projects and proven interception technologies in coastal regions across the U.S.

The Federal Trade Commission responded to antitrust concerns surrounding a $5.2 billion cash-and-stock deal between Quantum Energy Partners, a private equity firm, and EQT Corporation, a natural gas producer.