Tag: SEC

SEC Open to Advisers Using State Trusts for Crypto Custody

boss

The US Securities and Exchange Commission staff has opened up to allowing investment advisers to use state trust companies to custody cryptocurrency assets. In a rare no-action letter, the SEC’s Division of Investment Management said on Tuesday that it wouldn’t recommend that the SEC take enforcement action if advisers used state trust companies as a crypto custodian. Law firm Simpson Thacher & Bartlett had sent a letter to the Division on Tuesday, wanting assurances that registered financial institutions, such as venture capital firms, wouldn’t be subject to enforcement action by…

SEC Weighs Plan to Let Stocks Trade on Blockchain

The US Securities and Exchange Commission (SEC) is reportedly developing a plan to allow blockchain-registered versions of stocks to trade on cryptocurrency exchanges — a move that would mark a significant step toward integrating digital asset technology into the traditional financial system. The proposal, still in early stages, would let investors buy and sell stock tokens — digital representations of shares in publicly traded companies — on approved crypto platforms, The Information reported Tuesday, citing people familiar with the matter. The initiative reflects growing regulatory openness to tokenization, the process…

SEC Halts QMMM Trading After 1,000% Crypto Rally

Key Notes The rally followed QMMM’s announcement of a $100 million crypto treasury investing in Bitcoin, Ethereum, and Solana. The securities regulator cited concerns over potential market manipulation linked to anonymous social media promotions. Corporate crypto adoption is expanding rapidly, with nearly 200 publicly traded firms holding over $112 billion in digital assets. The US Securities and Exchange Commission (SEC) has recently charged out on Solana Treasury firm QMMM Holdings, with its stock price gaining 1000 % in just 25 days. The SEC alleges that the rally was fueled by…

SEC Pauses Trading on Crypto Treasury Firm QMMM

boss

The US Securities and Exchange Commission has temporarily halted trading of crypto treasury company QMMM Holdings due to potential stock manipulation, coming just a week after reports surfaced of a regulatory probe into certain crypto treasury firms.  “The Commission temporarily suspended trading in the securities of QMMM because of potential manipulation,” the agency said in a notice on Monday, halting trading of QMMM stock for 10 trading days. It said the alleged manipulation was “effectuated through recommendations, made to investors by unknown persons via social media to purchase” QMMM shares,…

SEC Rare No-Action Letter Clears Crypto DePIN Tokens

boss

The US Securities and Exchange Commission has signalled that it won’t take enforcement action against tokens tied to blockchain-based Decentralized Physical Infrastructure Networks (DePIN). In a no-action letter on Monday, SEC Division of Corporation Finance chief counsel Michael Seaman said he “will not recommend enforcement action” to the SEC for the planned token launch of the DePIN project DoubleZero. SEC Commissioner Hester Peirce separately added that the “economic reality of DePIN projects differs fundamentally from the capital-raising transactions Congress charged this Commission with regulating.” The rare no-action letter from the…

SOL Dip Buyers Go Long As SEC Solana ETF Decision Looms

boss

Key takeaways:  SOL aggregate volumes show retail traders piling into spot positions as the altcoin rebounded from $190. Traders could be positioning ahead of an anticipated favorable SEC Solana ETF decision on Oct. 10.  SOL (SOL) price rallied to $213 on Monday, gaining nearly 12% over the past 3 days and suggesting that the recent sell-off to $190.85 was viewed as a discounted buying opportunity by traders. With the SEC’s final Solana ETF decision expected by Oct. 10, SOL charts suggest that traders intend to frontrun the decision and possibly…

Altcoin ETFs in Focus as SEC Deadlines Loom

Key Notes SEC has withdrawn all delay notices for Solana, XRP, HBAR, Litecoin, signaling accelerated progress toward approvals. The approval of generic listing standards for crypto ETFs will lead to faster SEC approvals. Multiple ETF products are now expected to receive the green light, raising anticipation of a strong “Uptober” rally. . The crypto community has been eagerly waiting for October as the US Securities and Exchange Commission (SEC) faces the deadline for the approval of crypto ETFs for some of the top altcoins like Litecoin LTC $106.0 24h…

Flood of Major Altcoin ETFs Await SEC Approval in October

boss

The crypto industry could be set for a flood of new crypto exchange-traded funds in October, with the US Securities and Exchange Commission set to make their final decisions on 16 crypto ETFs next month.  The ETFs are connected to a variety of major altcoins, including Solana (SOL), XRP (XRP), Litecoin (LTC) and memecoin Dogecoin (DOGE), which have final deadlines scattered throughout October. Up for approval first is decentralized exchange Canary’s Litecoin ETF, with a deadline of Oct. 2, followed by asset manager Grayscale’s Solana and Litecoin trust conversion on…

Hashdex Wins SEC Approval for BTC, ETH, XRP, SOL ETF

Key Notes The Hashdex Crypto Index ETF will comprise top crypto assets like Bitcoin, Ethereum, XRP, Solana, and Stellar in its portfolio. XRP and Solana will represent 6.9% and 4.3% of the ETF, respectively, while Bitcoin and Ethereum remain dominant at 72.5% and 14.8%. The SEC’s updated generic listing rules enable crypto ETFs to bypass lengthy reviews, reducing approval times from up to 270 days to 75 days. In a breakthrough development, the US Securities and Exchange Commission (SEC) approved the expansion of the Hashdex Nasdaq Crypto Index ETF under…