The exchange's regulatory function would be spun out as a separate, non-profit, private entity with its own management and board.

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"Permitting Meltwater to take the fruit of AP's labor for its own profit, without compensating AP, injures AP's ability to perform this essential function of democracy, " Cote wrote.

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Wage controls, profit controls, exchange controls and other inflation-related restrictions similarly make it harder for businesses to function.

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