Tag: SEC

Court to hear oral arguments in Grayscale’s lawsuit against SEC in March

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A United States appeals court is set to hear the oral arguments relating to Grayscale Investment’s lawsuit against the Securities and Exchange Commission (SEC) over its decision to deny Grayscale’s Bitcoin (BTC) spot exchange-traded fund (ETF). As per a court motion filed on Jan. 23, both sides will present their arguments at the District of Columbia Court of Appeals on Mar. 7, 2023, at 9:30 am local time. Oral arguments are spoken presentations delivered by attorneys summarizing why their clients should win the case. Each party in the case takes…

Court Fast-tracks Oral Argument in Grayscale vs SEC Case

Grayscale is now neck deep with the lawsuit and there are many assumptions from members of the public with respect to the potential bottlenecks that the lawsuit might present. The dates for hearing the oral argument in the ongoing lawsuit between Grayscale Investments and the United States Securities and Exchange Commission (SEC) has been expedited by the District Columbia Court of Appeals. As reported by CNBC, the Court has fixed March 7 as the date for both parties to present their oral arguments, fast-tracking a process that Grayscale had expected…

SEC commissioner reminds of ‘the point of crypto’ as market aims for recovery

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Hester Peirce, a commissioner on the Securities and Exchange Commission (SEC), says that after a terrible year, industry players need to remember what crypto is really about. In a speech at the Digital Assets at Duke conference, Peirce laid down some lessons to be learned from the issues that the crypto industry had to face last year. According to the commissioner, 2022 was a “terrible, horrible, no good, very bad year” for both the crypto space and regulators. However, Peirce believed there are valuable takeaways from the series of problems…

‘What Was Gary Gensler Really Doing?’: Rep. Tom Emmer on FTX, the SEC and What’s Next for Crypto in Congress

The so-called “Crypto King of Congress” blames over-centralization and old-fashioned fraud for FTX’s collapse (not crypto). As Congress considers new crypto legislation, can he persuade his colleagues – including the combative Elizabeth Warren – of the same? Source 039WhatCongressCryptoDoing039EmmerFTXGaryGenslerRepSECTomWhat039s CryptoX Portal

Former SEC chief blasts ‘bogus’ catchphrase: ‘Regulation by Enforcement’

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A former Securities and Exchange Commission (SEC) official has slammed “cryptocurrency lobbyists” for labeling SEC enforcement actions as “regulation by enforcement” — calling the term a “Bogus Big Crypto Catch Phrase.” John Reed Stark, a former chief of the Securities and Exchange Commission Office of Internet Enforcement and a crypto skeptic, opined in a Jan. 22 post that the argument is “sorely misguided” as it was just how securities regulations worked. “Litigation and SEC enforcement are actually how securities regulation works,” he argued. “The flexibility of SEC statutory weaponry is an…

Jim Cramer Thanks SEC Chairman for Standing up to ‘Crypto Bullies’ Seeking Spot Bitcoin ETF Approval – Regulation Bitcoin News

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The host of Mad Money, Jim Cramer, has thanked Securities and Exchange Commission (SEC) Chairman Gary Gensler for standing up to the “crypto bullies” who want the regulator to approve a spot bitcoin exchange-traded fund (ETF). Cramer has repeatedly warned about the SEC cracking down on uncompliant crypto firms, urging investors to get out of the asset class now. Jim Cramer Praises SEC Chairman Gary Gensler The host of CNBC’s Mad Money show, Jim Cramer, has thanked the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, for…

SEC charges Mango Markets exploiter for allegedly stealing $116M in crypto

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The United States Securities and Exchange Commission has followed the Commodity Futures Trading Commission and others in filing parallel charges against the crypto user allegedly behind a multimillion-dollar exploit of decentralized exchange Mango Markets. In a Jan. 20 notice, the SEC alleged Avraham Eisenberg manipulated Mango Markets’ MNGO governance token, allowing him to steal roughly $116 million worth of cryptocurrency from the platform. According to the complaint, Eisenberg allegedly executed a series of large MNGO purchases in order to artificially raise the price of the token relative to USD Coin…

Crypto Lender Nexo Charged by SEC Over Unregistered Security Sales, Will Pay $45M in Fines

In addition to paying fines, Nexo will reportedly cease its unregistered lending product to all US investors.  Crypto-lending firm Nexo has agreed to pay fines of $45 million to the Securities and Exchange Commission (SEC) for violating federal securities law. According to the regulatory agency, Nexo failed to register its crypto asset lending product. The SEC further stated that the crypto platform initiated this unregistered security in 2020, allowing US customers to earn. Addressing the situation in a statement, SEC Chair Gary Gensler explained: “We charged Nexo with failing to register its…