Nevada governor orders review, freeze of regulations: Weekly regulatory news 
Weekly regulatory news for Jan. 23
The Week in Brief is your weekly snapshot of regulatory news and what's happening in the world of professional licensing, government technology, and public policy. Kansas educators decline to join interstate teacher licensure compact, Nevada governor orders review and freeze of regulations, and more in this week's look at regulatory news.

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Kansas educators reluctant to join interstate teacher licensure compact

Members of the Kansas State Board of Education have so far declined to join a compact that would make it easier for teachers to practice across state lines. The Interstate Teacher Mobility Contract is an in-development project led by the Council of State Governments (CSG) as it seeks ways to improve the mobility of licensed teachers. If realized, it would establish reciprocity among participant states and reduce barriers to teacher license portability and employment.

While the Kansas State Department of Education (KSDE), which oversees the board, previously agreed to explore the compact to address a teacher shortage within a number of state districts, education board members remain unconvinced that the agreement would not degrade the quality of teachers in the state. Sherri Schwanz, who presides over Kansas’ chapter of the National Education Association teacher’s union, argued against joining the compact, noting that “not all states require the same rigor for training professional educators.” The board’s current agenda still lists a decision on the matter as pending and no vote has been taken as yet, though the state legislature could unilaterally choose to join it, according to The Topeka Capital-Journal.

Nevada governor orders review, freeze of new regulations

In a signed executive order, Nevada Governor Joe Lombardo is demanding all executive branch entities review and, in some cases, eliminate existing regulations. Additionally, the executive order suspends any new regulations, with the exception of those that affect public safety, public health, judicial deadlines, and essential duties.

The order is one of two Lombardo signed to reduce regulatory burdens in the state, which he says limit Nevada’s economic potential. The second order is meant to streamline occupational licensing by directing licensing boards to stop developing additional regulations that limit licensed professionals from working in the state. The orders follow his stated intention to ensure there would be “less regulation” at the end of his term than there was when he started.

According to the orders, professional regulators must phase out licensure requirements for occupations not subject to licensure in over 25 other states and licensing reciprocity agreements that engender licensing mobility must be expanded. If licensing boards do not comply, they could trigger an immediate operational and financial audit as well as a legislative recommendation that the board face sanctions. Read more about it at The Nevada Independent.

Use existing regulatory frameworks for digital currency, says Japan’s FSA

In crypto regulation news, Japan has urged other nations to regulate digital currency exchanges in the same way they regulate banks. Attributing the recent collapse of crypto exchange FTX to “loose governance, lax internal controls, and the absence of regulation and supervision,” Japan’s Financial Services Agency (FSA) Deputy Director-General Mamoru Yanase said implementing effective regulation for cryptocurrency exchanges means replicating the ways traditional institutions, like banks, are regulated. Read more at Bitcoin.com.

Bank heads and regulators talk crypto regulation at Davos

In Davos, where financial regulators and other global financial leaders convened for the annual meeting of the World Economic Forum, cryptocurrency was also center stage. At the forum, a panel of regulators and bank CEOs said urgent regulation is desperately needed to prevent money laundering. In responding to the notion of regulating cryptocurrency in the same manner as traditional banks, Tharman Shanmugaratnam, chairman of the Monetary Authority of Singapore, said, “I think we have to take a step back and ask the basic philosophical question: does that legitimize something that is inherently purely speculative and, in fact, slightly crazy?” Read more about the panel’s discussion at the South China Morning Post.

Meanwhile, the U.S. House of Representatives created the Subcommittee on Digital Assets, Financial Technology and Inclusion, the first committee to review digital assets and how they are regulated. It is hoped that the subcommittee will establish cryptocurrency regulation recommendations, create policies to promote digital financial technology in underserved communities, and improve diversity and inclusion within the crypto industry. See the Financial Services Committee’s official press release for more.

More news:

  • Tens of thousands of health care workers protested in Madrid over the alleged ‘destruction of the public health system’ by the conservative regional government.
  • Didi Global Inc. received regulatory approval to resume registering new users after regulators restricted access to its apps in 2021.
  • Legislators in South Dakota announced plans to introduce rules that would outlaw gender-affirming health care for transgender youth and punish doctors who prescribe hormonal treatment.

Also noteworthy:

Disclaimer: The thoughts, opinions, and commentary of the articles we share links to in Week in Brief do not necessarily reflect those of Ascend Magazine or Thentia. 

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Paul Leavoy
Written byPaul Leavoy
Paul Leavoy is Editor-in-Chief of Ascend Magazine and writes on occupational licensing, regulation, digital government, and public policy.

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