If the SEC decides to change course and approve one or more of of the current spot bitcoin ETF applications, “it must do so in a fair and orderly manner,” the statement said. Source
Paul Munter, chief accountant of the United States Securities and Exchange Commission (SEC), has released a statement warning accounting firms of their obligations to the agency when working with crypto firms. Allowing their finding to be misrepresented could have serious consequences, he said. Crypto firms may engage accountants to “perform some sort of review of certain parts of their business, often presented as a purported ‘audit’” and falsely present the work as being comparable to a financial statement audit, Munter wrote. Doing so is not only misleading, but it…
The United States Securities and Exchange Commission (SEC) approved a set of sweeping changes to the rules governing the use of “optimization functions” by brokers in a committee vote on July 26. We have an upcoming @SECGov Open Meeting on July 26 | 10am ET We’ll be discussing:1⃣Cybersecurity Risk Management, Strategy, Governance, & Incident Disclosure2⃣Use of Predictive Data Analytics3⃣Exemption for Certain Internet Advisers From the Prohibition Against Registration — Gary Gensler (@GaryGensler) July 20, 2023 During an internal meeting streamed on the SEC’s website, Chairman Gary Gensler invoked everything from…
Blockchain security firm Quantamp is set to return $28 million raised in a 2017 initial coin offering following charges brought by the United States Securities and Exchange Commission (SEC). The U.S. agency announced that it had formally charged the California-based firm on July 21 for conducting an unregistered initial coin offering of “crypto asset securities”. According to the statement from the SEC, Quantstamp agreed to settle the charges. The SEC’s order outlines how Quantstamp’s ICO, which took place in October and November 2017, raised over $28 million by selling its…
Concerns of a potential appeal by the United States securities regulator to the landmark Ripple ruling earlier this month were shrugged off by Ripple’s chief legal officer Stuart Alderoty. Alderoty believes if the SEC takes the case to an appeal, the court could move to consolidate Ripple Labs’ partial victory over the financial regulator even further. Speaking on a July 26 TechCrunch podcast, Alderoty reiterated his position that the XRP (XRP) token does not constitute an investment contract and that the Ripple team would not “shy away” from any appeal…
According to a recent report by crypto research firm Messari, Tezos has been progressing in its roadmap development, with several new features and upgrades being introduced to the network. The platform’s core developers have announced a strategic shift to hybrid optimistic/zk rollups, with multiple teams committed to building rollups that will enable the platform to process more transactions per second (TPS) and enhance scalability. Tezos DeFi Ecosystem Booms Per the report, the recent launch of the 14th network upgrade, Nairobi, has brought improvements to the platform, new rollup functionality, and…
“The reputational shadow [of cloud mining] has been a stain on our entire industry,” says Kent Haliburton, President and COO of Sazmining, a hosted miner (for an explanation of the difference between hosted and cloud mining, see below). “Because so many people have gotten hurt and hosed. We said, if you’re selling hashrate, how are you not selling a security? We wanted to stay totally clear from it.” Original
In the crypto market, investors and enthusiasts appear interested in Polygon (MATIC), Cardano ADA), and DigiToads (TOADS). These projects were positively influenced by Ripple’s recent legal victory against the United States Securities and Exchange Commission (SEC). This ruling seemed to have opened up new growth opportunities. For investors exploring the broader crypto landscape, keeping an eye on potential projects and understanding underlying fundamentals and market trends could be beneficial. DigiToads: potential for growth DigiToads has taken a new approach to crypto and the project may offer diverse avenues for users to earn…
The latest development in the lawsuit of the United States Securities and Exchange Commission (SEC) versus cryptocurrency exchange Coinbase comes as a date is confirmed for the two parties to voice their initial arguments. On July 24, Coinbase’s chief legal officer Paul Grewal tweeted the news of New York judge Katherine Polk Failla approving the joint request from the SEC and Coinbase to proceed forward with hearings. Judge Failla has issued a scheduling order for our Rule 12(c) motion for judgment on the pleadings. We appreciate the Court’s prompt attention…
Ripple CEO Brad Garlinghouse has condemned the United States securities regulator over recent comments from its lawyers that hint at a possible appeal to its case against Ripple. In a July 23 tweet, Garlinghouse slammed the regulator for its “regulation by enforcement” approach, arguing it has only served to hurt retail investors. “The SEC created this mess by proclaiming it was the cop on the crypto beat when it had no legal jurisdiction,” wrote Garlinghouse in a July 23 tweet. “Where’s that gotten us? Consumers left holding the bag in…