Tag: SEC

OpenSea urges SEC to exclude NFT marketplaces from regulator’s remit

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Non-fungible token marketplace OpenSea has urged the US Securities and Exchange Commission to exclude NFT marketplaces from regulation under federal securities laws. The SEC needs to “clearly state that NFT marketplaces like OpenSea do not qualify as exchanges under federal securities laws,” OpenSea general counsel Adele Faure and deputy general counsel Laura Brookover said in an April 9 letter to Commissioner Hester Peirce, who leads the agency’s Crypto Task Force. Faure and Brookover argued that NFT marketplaces don’t meet the legal definition of an exchange under US securities laws as…

US Senate confirms Paul Atkins to lead SEC under Trump

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Update April 10 at 1:41am UTC: This article has been updated to include more background on Paul Atkins before becoming SEC chair. The US Senate has confirmed US President Donald Trump’s nominee, Paul Atkins, as chair of the Securities and Exchange Commission in a 51-45 vote largely along party lines. Atkins’ confirmation on April 9 comes after Trump named the pro-crypto former Wall Street consultant to lead the agency late last year. Atkins also served as an SEC commissioner between 2002 and 2008, during the global financial crisis. ”A veteran…

No crypto project has registered with the SEC and ‘lived to tell the tale’ — House committee hearing

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United States securities laws are not flexible enough to account for digital assets, as evidenced by the parade of crypto-native companies that have tried and failed to get into the Securities and Exchange Commission’s (SEC) good graces, Rodrigo Seira, special counsel to Cooley LLP, told a House Committee hearing on April 9. The hearing, titled American Innovation and the Future of Digital Assets Aligning the U.S. Securities Laws for the Digital Age, featured Seira, WilmerHale partner Tiffany J. Smith, Polygon chief legal officer Jake Werrett and Alexandra Thorn, a senior…

SEC Crypto Roundtable: Former Rivals Coinbase, Cumberland, and Uniswap to Attend

Key Notes SEC’s second crypto roundtable features Coinbase, Uniswap, and Cumberland DRW, focusing on regulatory clarity for the digital asset industry. Trump administration shifts SEC approach, dropping lawsuits against Coinbase and Cumberland DRW, fostering a crypto-friendly environment. SEC announces future roundtables on topics like crypto custody, tokenization, and decentralized finance (DeFi) to clarify regulations. The US Securities and Exchange Commission (SEC) will be conducting its second round of crypto roundtable on April 11, while speaking to representatives from different crypto firms, including Coinbase, Uniswap Labs, and Cumberland DRW. The event,…

Mike Novogratz’s Galaxy Digital gets SEC nod for Nasdaq listing

Artificial intelligence and crypto investment firm Galaxy Digital has been given the nod from the US Securities and Exchange Commission to list on the Nasdaq stock exchange.  The company, which is listed on the Toronto Stock Exchange (TSX), plans to relocate its home base from the Cayman Islands to Delaware, according to an April 7 statement from Galaxy, pending shareholder and TSX approval.  “Our registration statement is now effective with the SEC. We’re on track to list on the Nasdaq shortly after our shareholder vote on May 9, contingent on…

SEC crypto trading roundtable to include crypto giants Uniswap, Coinbase

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The US Securities and Exchange Commission has released the list of executives from US crypto and finance giants that will take part in a roundtable discussion on crypto trading regulation. On April 7, the regulator said its upcoming April 11 roundtable will discuss how it should handle crypto trading rules, calling it “Between a Block and a Hard Place: Tailoring Regulation for Crypto Trading.” It will be the second in a series of discussions on crypto, headed by its recently-formed Crypto Task Force. Taking part are Uniswap Labs chief legal…

SEC paints ‘a distorted picture’ of USD-stablecoin market — Crenshaw

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US Securities and Exchange Commission (SEC) Commissioner and vocal crypto critic Caroline Crenshaw has accused the US regulator of downplaying risks and misrepresenting the US stablecoin market in its newly published guidelines. However, many in the crypto industry see the SEC’s decision as a step in the right direction. In an April 4 statement, Crenshaw, who is widely known for opposing the spot Bitcoin ETFs, said that the SEC’s statement on stablecoins contained “legal and factual errors that paint a distorted picture of the USD-stablecoin market that drastically understates its risks.”…

Certain stablecoins aren’t securities, SEC says in new guidance

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Under new SEC guidelines, stablecoins that meet certain criteria are considered ”non-securities” and are exempt from transaction reporting requirements, the United States Securities and Exchange Commission said in a notice published April 4. “Covered stablecoins,” as the SEC classifies them, are fully backed by physical fiat reserves or short-term, low-risk, highly liquid instruments and are redeemable at a 1:1 ratio with US dollars. The definition precludes algorithmic stablecoins that maintain their US dollar peg using software or an automated trading strategy, leaving the regulatory status of algorithmic stablecoins, synthetic dollars,…

XRP Price at Crossroads after Emergency Filing in SEC Case

Key Notes Justin W Keener claims to have “decisive evidence” in the Ripple vs SEC lawsuit. The SEC held a closed door meeting on April 3rd but no word about Ripple has been revealed. XRP could crash to $1.30, according to prominent analyst Ali Martinez. . On April 3rd, an unexpected emergency filing was submitted by Justin W. Keener, who claimed to possess “decisive evidence” that could impact the outcome of the years long Ripple Labs vs SEC lawsuit. 🚨NEW: An odd filing just now in the @SECGov vs. @Ripple docket…

Gemini to open Miami office after judge stays SEC case

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The cryptocurrency exchange Gemini, backed by Cameron and Tyler Winklevoss, plans to move into a Miami-area office space, as US Securities and Exchange Commission (SEC) enforcement case may have reached its end. According to a March 31 post from Sterling Bay Properties, Gemini signed a lease for an office in Miami’s Wynwood Art District. The move would expand the exchange’s offices from Europe and New York to Florida, where some crypto companies are headquartered. Bloomberg reported Gemini was expected to move into the Miami office by May. Cointelegraph reached out…