SEC Archives

Republican Lawmaker McHenry Demands SEC Chair Gary Gensler Explain How Prometheum Got Approval

August 15, 2023

The letters raise “serious questions” about whether the SEC championed Prometheum as a poster firm to represent Gensler’s position that no new laws are needed to regulate and police crypto in the U.S., just as McHenry’s committee was about to send digital assets legislation to the House floor. For its part, Prometheum’s executives have insisted that they’ve been going step-by-step through the registration process like any other firm, and co-CEO Aaron Kaplan has argued that his firm will demonstrate the right way to build a crypto platform that’s compliant with…

SEC delays set deadline for Bitcoin ETF approval to early 2024

August 15, 2023

The United States Securities and Exchange Commission (SEC) — the financial regulator with the final say over allowing a spot cryptocurrency exchange-traded fund (ETF) — may be moving closer to giving the investment vehicle the green light after several years of applications. In June, the world’s largest asset management firm, BlackRock, added its application to the bundle of Bitcoin (BTC) ETF filings currently being reviewed by the SEC, creating renewed interest among investors in and out of the crypto space. The company later added a “surveillance-sharing agreement” with cryptocurrency exchange Coinbase…

SEC delays set deadlines for Bitcoin ETF approval to early 2024

August 15, 2023 boss

Here’s Why This Former SEC Lawyer Thinks A Spot Bitcoin ETF Isn’t Coming

August 14, 2023 boss

Recent comments from former SEC Attorney John Reed Stark have further dampened optimism about the regulator approving any of the pending Spot Bitcoin ETF applications. Spot Bitcoin ETF Approval Looking More Unlikely The United States Securities and Exchange Commission (SEC) has continuously denied applications for a Spot Bitcoin ETF, and Stark has suggested that this trend isn’t going to change anytime soon as the SEC will likely deny all the pending applications due to several “compelling reasons.” While aligning his opinion with that of Better Markets, Stark stated that the…

This scenario could spark Gary Gensler’s resignation: Former SEC official

August 14, 2023 boss

The United States’ securities regulator could completely u-turn its approach to crypto enforcement, depending on a key election in the United States in 2024, according to former SEC official John Reed Stark. In an Aug. 13 tweet, the former SEC Office of Internet Enforcement chief predicted that a Republican President could drastically shift the crypto-regulatory tide, including the potential resignation of SEC chief Gary Gensler. There are currently a number of Republican candidates in the running. Former-President Donald Trump remains the most popular candidate among Republican voters, followed in a…

SEC lawsuit crushes HEX, defi traders look at InQubeta presale

August 13, 2023

The decentralized finance (defi) sector has seen rapid growth, innovation, and occasional debates. For instance, the U.S. Securities and Exchange Commission (SEC) recently sued HEX, a move that saw the token’s price plunge. Amid this, defi investors and analysts are examining InQubeta and its ongoing presale. InQubeta plans for defi InQubeta taps into the capabilities of blockchain and artificial intelligence (AI). The project’s presale has generated significant interest due to the project’s staking model and non-fungible token (NFT) marketplace. Subsequently, the demand for QUBE has been rising in recent weeks. In the ongoing…

US Senator Files Amicus Brief Supporting Coinbase, Says Court Should Dismiss SEC Lawsuit Against Exchange

August 13, 2023 boss

A pro-crypto US Senator is filing an amicus brief in favor of Coinbase, saying that the court should discard the U.S. Securities and Exchange’s (SEC) lawsuit against the crypto exchange. In a new court filing, Republican Senator Cynthia Lummis of Wyoming asks the court to toss out the SEC’s lawsuit against Coinbase, which alleges that the top US crypto exchange sold unregistered securities. According to Lummis, the SEC’s enforcement actions are “out of step” with the efforts of lawmakers to create a clear regulatory framework for the crypto industry. “Crypto…

SEC to appeal Ripple’s victory, Binance aims for growth, PayPal launches stablecoin

August 13, 2023

Amid ongoing regulatory efforts, the U.S. Securities and Exchange Commission (SEC) is poised to contest Ripple’s recent victory. Binance captures attention with ambitious growth moves, while PayPal introduces its very own stablecoin. Greater scrutiny in the U.S. This week, government agencies sought to establish clarity. The Federal Reserve introduced an innovative endeavor aimed at overseeing cryptocurrency operations within banking institutions. The Novel Activities Supervision program will diligently track activities pertaining to cryptocurrencies, encompassing trading and lending, with a particular emphasis on enhancing the security of stablecoins. The SEC deferred its…

Senator Lummis shows support for Coinbase against SEC

August 12, 2023

Senator Cynthia Lummis of Wyoming filed a brief supporting Coinbase’s request to dismiss a case against it by the U.S. Securities and Exchange Commission (SEC). Lummis, a Republican, reiterated her support of the crypto industry by submitting an amicus brief in solidarity with Coinbase. 🇺🇸📝 Senator Cynthia Lummis backs Coinbase in its legal dispute with the SEC, filing an Amicus Brief, as reported by Cryptox. She asserts that the SEC’s actions are aimed at consolidating control within the industry, sidestepping ongoing cryptocurrency jurisdiction reviews… — BitcoinWorld (@ItsBitcoinWorld) August 12, 2023…

SBF ordered to jail, Bitcoin ETF delayed and SEC to appeal Ripple case

August 12, 2023 boss

Top Stories This Week Judge revokes Sam Bankman-Fried’s bail, remands him to custody FTX’s former CEO, Sam “SBF” Bankman-Fried, had his bail revoked by a federal judge in response to the release of information to The New York Times allegedly intended to intimidate witnesses. During a hearing on Aug. 11, Judge Lewis Kaplan revoked Bankman-Fried’s bail and remanded him to custody, likely at the Putnam County Correctional Facility. Once his October trial begins, he could be moved to the Metropolitan Detention Center in Brooklyn. Bankman-Fried was reportedly led out of…