Tag Archives: Jay Clayton

The price of XRP is responding positively to Ripple sealing agreements to several institutions who need varying services from the firm. The price of XRP has jumped considerably in the last 24 hours. XRP climbed 11% earlier on Monday, before falling to the current 10.13%, according to data from CoinMarketCap. XRP is now the fourth-largest cryptocurrency by market capitalization after replacing the BNB token. CoinGecko data also shows that XRP’s trading volume jumped from $1 billion on...

As the former Securities and Exchange Commission (SEC) chairman, Jay Clayton oversaw the financial agency for approximately four years. He came down hard on the industry many times, and initiated penalties to companies that claimed their securities were mere “tokens” or “coins” that the SEC held no jurisdiction over. Jay Clayton On the Future of Crypto However, despite this hardcore attitude, Clayton is quite positive about the future of crypto. He thinks that blockchain...

The SEC commissioner Hester Pierce wants the blockchain space and the regulators to work on an eased juridical framework for ICOs in the next three years.During the recent industry conference in Chicago, the SEC Commissioner Hester Peirce proposed a new regulatory framework for ICO companies and unqualified investors.Current securities laws don’t allow numerous ICO startups and similar firms to collect money from U.S. citizens. According to the law, almost any cryptocurrency, coin or token is...

While a digital asset may look like a security at first, it could potentially become decentralized enough in the following years to no longer resemble a security. Bearing this principle in mind, SEC commissioner Hester Peirce has proposed a safe harbor period for token sales.The official at the Securities and Exchange Commission (SEC) Hester Peirce, named “CryptoMom” by the crypto community, suggested a so-called ‘safe harbor’ for all upcoming token projects. Her opinion is that this could...

Bitwise Bitcoin ETF proposal has been withdrawn. The cryptocurrency asset management firm indicated that it had submitted a note to the U.S. SEC. Bitwise said that the withdrawal request is “consistent with the public interest and protection of investors”. This shows that the firm is studying the situation at this time. The global head of research told:“We did indeed withdraw the application. This is a procedural step, and we intend to refile our application at an appropriate time.”It also...

Regulators consider adding some cryptocurrencies to the list of registered securities. This especially true when it comes to PoS and DpoS-based blockchains, with the staking reward model. The annual report made by OCIE says that crypto-related operations will be observed and studied with caution. The crypto companies already in the SEC‘s registry will experience additional checks too.The OCIE is thriving to deliver the best integrity and security to the U.S. markets and economy. The investors...

A joint statement on the use of digital assets and specific laws operators must abide by, has been released. On Friday the 11th, three of the most binding regulatory authorities in the financial space, released the statement, stating specifics about the crypto sector and reminding all participants that certain already laid down laws regarding financial services in the U.S., must be strictly adhered to.The regulatory bodies including the U.S. Commodity Futures Trading Commission (CFTC),...

The United States Securities and Exchange Commission (SEC) has been in an unofficial fight with the cryptocurrency sector in general. The Commission is generally regarded as unsupportive of the sector especially with its repeated disapproval and postponement of its decision to allow Bitcoin Exchange Traded Funds (Bitcoin ETF). However, an executive from Bitwise Asset Management seems to believe strongly that the upcoming SEC ruling will come in the company’s favor.Speaking to CNBC on its ETF...

The U.S. Securities and Exchange Commission (SEC) again delayed its decision about Bitcoin exchange-traded fund (ETF) proposed by New York-based investment-management firm Wilshire Phoenix.As per the public filing, SEC needs to assess the proposed rule change to allow NYSE Arca in order to deal with shares of Wilshire Phoenix’s Bitcoin and Treasury Investment Trust. Arca first started seeking regulatory approval from the SEC for a different type of stablecoin. Dubbed as the Arca UST Coins –...

About a week ago on Thursday the 19th of September, the Committee on Financial Services scheduled Tuesday 24th, as the day for a Congress crypto hearing. Tagged “Oversight of the Securities and Exchange Commission: Wall Street’s Cop on the Beat”, the hearing was arranged to discuss several crypto-related issues including the SEC’s regulation of the sector, Exchange-Traded Funds (ETFs), Facebook’s Libra, and also a possible categorization of digital assets as official securities.The hearing...