Sales of LUNA and MIR to institutional investors totaled $65.2 million and $4.3 million, respectively, sales of LUNA and UST through the Luna Foundation Guard (LFG) totaled $1.8 billion, and investors bought $2.3 billion in UST on various crypto asset trading platforms between June 2021 and May 2022, according to court documents. Source
The U.S. SEC postponed the application to open an Ethereum ETF from Franklin Templeton. According to a document published on the regulator’s website, the Commission considers it appropriate to set a more extended period for action on the proposed rule change to give it sufficient time to consider the proposed rule change and its issues. The SEC must decide on Franklin Templeton’s application by June 11. “The Commission shall either approve or disapprove or institute proceedings to determine whether to disapprove the proposed rule change.” SEC filing In February, Franklin…
A U.S. Securities and Exchange Commission rule expanding the definition of a “dealer” to capture digital assets activity went too far, a lawsuit by the Blockchain Association and Crypto Freedom Alliance of Texas alleged. Source
Michael Welsh, a former lead attorney on the Debt Box case, and Joseph Watkins, an investigative attorney whose declaration served as the foundation for the SEC’s case against Debt Box, were reportedly forced to step down or else be terminated, according to the report, which cited people familiar with the situation. Source
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler’s social media post expressing that “it’s been an honor to serve” as SEC chairman sparked speculation within the crypto community that he might be resigning from his position. Many people, including lawmakers, have criticized Gensler for taking an enforcement-centric approach to regulating the crypto industry. Gary […] Source BitcoincryptoexchangeExchanges CryptoX Portal
Consensys Senior Counsel and Director of Global Regulatory talks about ETH’s legal status and Ethereum’s future. Source
The unfolding conflict between Iran and Israel contributed to a collapse in crypto prices on Sunday, April 14. Last week, the Securities and Exchange Commission sent a Wells Notice to Uniswap, declaring intentions to sue the exchange amid increased regulatory efforts. Meanwhile, FTX founder Sam Bankman-Fried seeks to appeal his sentencing. The calm before the storm The crypto market started the week favorably, with the global crypto market cap surging 3.6% to a 3-month high of $2.62 trillion on April 8, with Bitcoin (BTC) reclaiming the $72,000 price threshold following…
Investment contracts are securities regulated by the SEC, so if a crypto transaction qualifies, it belongs in the agency’s jurisdiction and should be properly registered under the law. The regulator has argued before lawmakers and courts that the vast majority of digital assets are securities, but Coinbase and others from the industry contend that once the asset hits secondary markets and is no longer connected to the business that issued it, the token is beyond the SEC’s legal reach. Answering this dispute would be fundamental for the U.S. crypto sector.…
The SEC secretly investigated Dapper Labs in September but closed the case in December 2023. The document, acquired by Fortune and referred to as a “Case Closing Report,” was signed off by David Hirsch, head of the SEC’s Crypto Asset and Cyber Unit, on Sep. 29, 2023. The report did not detail the reasons for the SEC’s inquiry into Dapper Labs, its initiation date, or the factors leading to the investigation’s termination. Dapper Labs is behind high-profile NFT projects such as NBA Top Shot and CryptoKitties. The specifics behind the SEC’s probe into…
One of the biggest decentralized exchange (DEX) platforms says it is “fighting for DeFi” after receiving a Wells Notice from the U.S. Securities and Exchange Commission (SEC). In a new blog post, Uniswap (UNI) says it has recently received a Wells Notice from the SEC, meaning that the regulator is planning on taking enforcement actions against the DEX soon. However, UNI says the SEC’s actions appear political in nature, that it won’t be pulling any of its products off the market due to the notice, and that the decentralized finance…