Good morning. The bipartisan leaders of an influential congressional committee have urged the Biden administration to do more to crack down on the import of goods linked to Chinese forced labor, reports Risk & Compliance Journal's Richard Vanderford. This could potentially include ramping up criminal prosecutions and closing a trade loophole used by e-commerce companies Shein and Temu.

• What the committee is looking for: The administration should do more to enforce the Uyghur Forced Labor Prevention Act, a law that blocks the import of goods tied to forced labor in China’s Xinjiang region, the leaders of the House Select Committee on the Chinese Communist Party said in a letter seen by The Wall Street Journal.
   
• Who the letter went to: The letter, which draws attention to a number of issues that have been flagged by anti-forced-labor advocates and researchers, was sent Friday to Homeland Security Secretary Alejandro Mayorkas and Attorney General Merrick Garland.
   
• Background on law: The UFLPA, which went into force in 2022, bars the import of most goods from Xinjiang in response to the alleged use of that region’s Uyghur people and other minority groups in forced labor. China has repeatedly denied perpetrating human rights abuses in Xinjiang and has said the U.S. is using human rights as a pretext to engage in economic coercion.

U.S. seeks to shut down Hamas-linked exchanges, citing crypto.

The U.S. on Monday levied a fifth round of sanctions against alleged Hamas financing networks since the group’s Oct. 7 attack on Israel, targeting currency exchanges as key funders for the group and citing cryptocurrency transfers.

Focus on crypto. As the U.S. and Western allies work to shut down the primary channels Hamas uses to fund its fight against Israel, authorities have zeroed in on the currency exchanges they say are used by their Hamas-tied owners to move millions of dollars worth of money for the U.S.-designated terrorist group, including cryptocurrencies.

New York City passed an AI hiring law. So far, few companies are following it.

It has been six months since New York City began enforcing the nation’s first law requiring companies to disclose how algorithms influence their hiring decisions. So far, disclosures are rare.

Background on the law. The law requires employers that use software to assist with hiring and promotion decisions—including chatbot interviewing tools and résumé scanners that look for keyword matches—to audit those tools annually for potential race and gender bias, and then publish the results on their websites. It was designed to encourage companies to identify and root out ways their technology might be unintentionally embedding bias into employment decisions.

• A two-year-long investigation into the trading practices of two presidents of Federal Reserve banks who resigned in 2021 cleared them of violating policies or laws.
   
• The hacker who commandeered the Securities and Exchange Commission’s official X account earlier this month gained access to the account by targeting the SEC’s telecom carrier in an apparent “SIM swap” attack, the agency said.
   
• Crypto exchanges are trying to shoot holes in the Securities and Exchange Commission's legal reasoning for why digital-asset sales qualify as securities. If they land, courts could dismiss major lawsuits claiming that Binance and Coinbase violated investor-protection laws and should have to follow the same rules the New York Stock Exchange does.
   
• The crypto asset manager that forced U.S. regulators’ hand in approving bitcoin exchange-traded funds has lost billions from their launch. Investors cashed out $2.8 billion from the Grayscale Bitcoin Trust after it converted into an ETF on Jan. 11, according to Bloomberg Intelligence data through Friday.
   
• A decision by Google’s cloud-computing unit to eliminate certain data fees highlights ongoing complexities of cloud pricing as businesses seek to cut tech costs. The move coincides with greater regulatory oversight of cloud competition, but may not go far enough to satisfy some critics.
   
• Terraform Labs, the cryptocurrency company founded by the South Korean entrepreneur Do Kwon, has filed for bankruptcy protection in a U.S. court.

Falling birth rates pose public-finance problem, HSBC says.

The baby bust is accelerating. That means more policy headaches ahead, according to an economist.

Birth rates across a range of global economies declined by an average 4% last year, said HSBC Global Research's James Pomeroy in a Sunday note. That marks an acceleration from the roughly 3% drop seen each year since the Covid-19 pandemic began.

Pomeroy said the matter is a pressing fiscal concern. One reason: With populations already starting to age rapidly, more taxpayers are needed, he said.

• A U.S.-led coalition launched a series of strikes against Houthi targets Monday, U.S. and U.K. officials and the Houthis said, in the second major assault in a continuing bid to stop the Yemeni rebel group’s attacks on ships transiting the Red Sea.
   
• Arab countries are working on a proposal for postwar Gaza that would create a pathway toward a Palestinian state in exchange for Saudi recognition of Israel, according to Arab officials.
   
• Indian Prime Minister Narendra Modi consecrated a grand Hindu temple at the site where a 16th-century mosque was destroyed by a mob, a key milestone in the Indian leader’s reshaping of the country from a secular republic into a Hindu nation.
   
• The CSI 300, an index of mainland Chinese shares, fell 1.6% to close at an almost five-year low Monday. Hong Kong's Hang Seng Index fell 2.3% and is now approaching its lowest close since 2009.
   
• Ericsson expects challenges in the mobile-network industry to continue this year as customers remain cautious about spending and as the investment pace normalizes in its key Indian market.

• Charles Schwab last year weathered a banking crisis, layoffs and a sharp drop in its stock price. Inside the company, employees are preparing for another uncertain year.
   
• The Dana-Farber Cancer Institute, a Harvard Medical School affiliate, is seeking to retract six studies and correct 31 other papers as part of a probe involving four of its senior cancer researchers and administrators.
   
• Elon Musk visited the former Nazi death camp Auschwitz on Monday, laying a wreath at the Death Wall memorial where guards executed thousands of Jewish prisoners during World War II.
   
• The Supreme Court granted the Biden administration’s emergency request to reinstate federal authority over the international boundary between Mexico and Texas.
   
• American workers are getting restless in their jobs just as the labor market is making it much tougher for them to jump to something new.

Follow us on X at @WSJRisk. Follow Risk & Compliance editor David Smagalla @DSmagalla_DJ and reporters Mengqi Sun @_MengqiSun, Dylan Tokar @dgtokar and Richard Vanderford @VanderfordRich.

You can reach us by replying to any newsletter, or email David at david.smagalla@wsj.com.