Tag: SEC

SEC drops 3-year investigation into Stacks developer Hiro Systems

Crypto community has another reason to celebrate as the U.S. Securities and Exchange Commission (SEC) has dropped its investigation against Hiro Systems, a developer firm integral to the Bitcoin Layer-2 network Stacks. A SEC filing on July 12 revealed that the regulator had closed its three-year investigation into Hiro Systems (formerly Blockstack) and would not be pursuing an enforcement action. The decision comes just a day after the SEC ended its investigation against stablecoin issuer Paxos. SEC ends 3-year investigation into Hiro Hiro raised $70 million in token sales between…

U.S. SEC Commissioner Grilled on Bitcoin (BTC) ETFs as Senators Weigh Regulator Nominees

The committee also heard testimony Thursday from Christy Goldsmith Romero, the member of the Commodity Futures Trading Commission (CFTC) who President Joe Biden tapped to chair the Federal Deposit Insurance Corp.; Kristin Johnson, another CFTC commissioner, to be the Treasury Department’s assistant secretary for financial institutions; and Hawaii Insurance Commissioner Gordon Ito to be a Member of the Financial Stability Oversight Council. Source

U.S. House Fails to Override Biden’s SEC Veto of Bill That Would End Controversial SEC Guidance

The debate over this policy nearly became moot this week, according to Rep. Maxine Waters (D-Calif.), who said the SEC has been negotiating with banking industry representatives about “targeted modifications” to the policy and “may be close to reaching an agreement.” But she noted that “Republicans are pushing ahead anyway with this blunt and overly broad approach” that she said would undermine the regulator. “There is bipartisan agreement in both chambers of Congress that SAB 121 is nothing more than a punitive, anti-digital asset tool deployed by the SEC,” countered…

Nigeria’s Finance Minister Urges SEC to Tackle Challenges in Regulating Cryptocurrency

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The Nigerian Finance Minister, Wale Edun, has urged the newly inaugurated board of the country’s Securities and Exchange Commission (SEC) to address the complexities of regulating cryptocurrencies. He emphasized the need for stringent oversight to maintain market integrity in the capital market. Edun also highlighted the importance of staying informed and adaptable, especially in fast-evolving […] Source

SEC, Fed Charge Silvergate for Misleading Investors, Failing to Monitor $1 Trillion in Transactions

The U.S. Securities and Exchange Commission (SEC), the Federal Reserve Board (FRB), and the California Department of Financial Protection and Innovation (DFPI) have taken action against Silvergate Capital Corp., the holding company for Silvergate Bank, and its former executives for misleading investors and failing to monitor significant transactions. Silvergate has agreed to pay penalties without […] Source BitcoincryptoexchangeExchanges CryptoX Portal

U.S. SEC Sues Crypto-Friend Silvergate Bank, Alleging ‘Misleading’ Statements Around AML Program

“On several occasions prior to November 2022, Lane and Fraher – and through them SCC – became aware that the Bank had serious deficiencies in its BSA/AML compliance program,” the complaint said. “In addition, through the results of multiple examinations of Silvergate by the Federal Reserve, through the Federal Reserve Bank of San Francisco (the ‘FRBSF’), Lane and Fraher should have known that there existed critical deficiencies in the Bank’s BSA/AML compliance program.” Source

Analyst Updates Spot Ether ETF Launch Date Prediction Citing Slow SEC Review

Bloomberg’s senior ETF analyst has updated his prediction regarding the launch of ether exchange-traded funds (ETFs), noting delays due to the U.S. Securities and Exchange Commission (SEC)’s review process during the holiday week. Despite the approval of 19b-4 filings for eight ether ETFs in May, the S-1 registration statements are still pending. SEC Chair Gary […] Source CryptoX Portal