Tag: SEC

US SEC chair says crypto riddled with fraud and non-compliance

US Securities and Exchange Commission (SEC) chair, Gary Gensler, is concerned about the pervasive fraud and regulatory non-compliance in crypto. In a recent Bloomberg interview, Gary Gensler aired his concerns about the risks associated with crypto investments. His comments come on the back of an impactful court decision related to XRP’s status as a security, which ran contrary to the commission’s viewpoint. During the interview, the SEC chair expressed concerns about the crypto market, highlighting the prevalence of fraud and individuals trying to deceive others. He also emphasized that the…

Hester Pierce strikes back against SEC crypto warning to accountants

Hester Pierce, commissioner of the United States Securities and Exchange (SEC), has raised concerns about the watchdog’s recent warning advising accounting firms against taking on non-audit work for crypto clients. In a July 28 tweet, Pierce questioned the recent statement made by the SEC’s chief accountant, Paul Munter, warning accounting firms against engaging in work for crypto platforms unless it involves a complete financial audit. She suggested that this approach to improve transparency might actually lead to hindering sincere efforts from crypto platforms. “Why would we want to discourage good-faith…

Hester Pierce strikes back against SEC crypto warning to accounting firms

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Hester Pierce, commissioner of the United States Securities and Exchange (SEC), has raised concerns about the watchdog’s recent statement advising accounting firms against taking on non-audit work for crypto firms. In a July 28 tweet, Pierce challenged the recent statement made by the SEC’s chief accountant Paul Munter, proposing that accounting firms adopt an all-or-nothing approach in its dealings with crypto firms. Pierce believes this might cause crypto firms to shy away from making good-faith efforts to be transparent. Crypto platforms & their accountants should be clear about what proof of reserves…

Ripple Attorney Withdraws From SEC Lawsuit, Will It Affect XRP?

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A recent development in the ongoing showdown between the United States Securities and Exchange Commission (SEC) has seen the withdrawal of another Ripple attorney from the lawsuit, recent court filings reveal. This comes after a motion was filed earlier in the month for Anna R. Gressel to withdraw as attorney of defendant Ripple Labs. This recent withdrawal has cast a shadow of uncertainty as holders of XRP ponder on the likely impact of this development. Ripple Remains Upbeat Despite Attorney’s Withdrawal According to details in the filing made at the…

Grayscale (GBTC) Urges SEC for Equal Treatment of Spot Bitcoin (BTC) ETF Applications

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Bitcoin could reach $300,000 by 2028, said Mark Yusko, Morgan Creek Capital Management founder and CEO, on CoinDesk TV’s First Mover. Yusko made the prediction while comparing bitcoin to gold. Gold is not portable or divisible, whereas bitcoin is, the CEO of the $1.6 billion asset management firm explained. “Bitcoin fixes both of these issues, and is equally scarce,” Yusko added, arguing that the digital asset could eventually catch up to the precious metal’s valuation. “The monetary value of gold is about $6 trillion, I think bitcoin can replace all…

Grayscale calls for SEC to approve all Bitcoin ETFs simultaneously

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied Crypto fund manager Grayscale urges SEC to approve all proposed spot Bitcoin ETFs simultaneously, emphasizing fairness and impartiality in the regulation process. Chief Legal Officer at Grayscale, Craig Salm, shared a blog post on July 27. He emphasized that the SEC, a disclosure-based regulator, should refrain from picking winners and losers among ETF applicants. The Grayscale Bitcoin Trust (GBTC), which manages assets worth over $18 billion, offers investors exposure to the pioneer cryptocurrency. The firm has been contesting…

SEC Implements Rule Requiring Companies, Including Crypto Firms, to Report Cybersecurity Breaches

Most listed companies already include cybersecurity risks in their investor documents, but, until now, the SEC did not mandate any disclosures from them. Public companies and foreign private issuers must also must describe how their board oversees cybersecurity risks and detail “management’s role and expertise in assessing and managing material risks from cybersecurity threats.” Source

SEC adopts cyberattack disclosure rules, listed crypto firms included

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Public companies in the United States, including listed crypto firms, will be required to disclose any major cybersecurity incidents within a four-day time limit, under new rules adopted by the United States securities regulator. The rules from the United States Securities and Exchange Commission require any public company to disclose a cyberattack within four days of it being deemed “material,” except in cases where such disclosure is deemed a possible national security or public safety risk. Today we adopted rules to ensure that investors receive consistent information from public companies about material…

Grayscale urges SEC to approve all Bitcoin ETFs simultaneously

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Crypto fund manager Grayscale is urging the Securities and Exchange Commission (SEC) to approve all proposed spot Bitcoin (BTC) exchange-traded funds (ETFs) at the same time to avoid one having an advantage. A July 27 post by Grayscale chief legal officer Craig Salm said its legal team submitted a letter regarding eight spot Bitcoin ETF filings — including its own — arguing the SEC shouldn’t pick “winners and losers” and instead make a fair and orderly decision. The letter claimed the SEC could approve the spot ETFs based on its…