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Tag Archives: sec

The SEC Is Proposing a String of “Secret” Crypto Rules

The Securities and Exchange Commission (SEC) is planning to introduce some sweeping crypto rules that allegedly would allow regulators to check in on the activities of crypto exchanges and defi platforms. The SEC Is Working to Regulate Crypto at All Costs According to bitcoin and crypto bull Hester Pierce – who is often referred to as the “Crypto Mom” for her pro-bitcoin attitude – this could be very dangerous for the digital currency industry in that the rules are going...

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MicroStrategy’s Bitcoin Impairment Charge Swells to $147 Million in Q4 2021

The world’s biggest corporate bitcoin holder MicroStrategy has reported a $146 million impairment charge on its digital asset investment. MicroStrategy Loses $147 Million in an Impairment Charge The day after MicroStrategy CEO Michael Saylor announced that his company bought 660 BTC worth $25 million, the firm reported a loss of $146.6 million in an impairment charge on account of its bitcoin holdings. Business intelligence software maker MicroStrategy said this in its Q4...

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Thailand To Regulate Use Of Cryptocurrencies For Payment

The Bank of Thailand (BOT), Securities and Exchange Commission (SEC) and Ministry of Finance (MOF) have jointly decided to regulate the use of cryptocurrencies as a medium of exchange. They cite threats of financial instability and crime as primary justifications. Strictness On Crypto BOT announced its regulatory decision in a press release earlier today. It begins by recognizing how digital asset companies are expanding the functionality of cryptocurrencies as a medium of...

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SkyBridge Joins the SEC’s List of Rejected Spot Bitcoin ETFs

The U.S. Securities and Exchange Commission (SEC) has, once again, rejected a spot bitcoin ETF application. It was filed earlier by the investment management company First Trust Advisors and the hedge fund SkyBridge led by Anthony Scaramucci. In a statement published on Thursday (January 20, 2022), the SEC said the reason for the rejection was that they failed to meet the requirements. According to an excerpt from the SEC document: “Because NYSE Arca has not demonstrated that...

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SEC Commissioner Says Crypto Doesn’t Require Special Regulatory Framework

While there have been calls by the cryptocurrency community for the SEC to provide clearer regulation for the industry, one of the agency’s commissioners thinks otherwise. SEC Does Not Need to Re-Invent the Wheel Allison Lee, a Commissioner for the U.S. Securities and Exchange Commission (SEC), while appearing at a D.C. bar event on crypto regulation, has said that cryptocurrencies do not need a special set of rules. According to Lee: “Rather than pursuing approaches that...

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Is Ether a Security? SEC Chair Gary Gensler Avoids a Direct Answer

SEC chairman Gary Gensler hit the media headlines by avoiding directly answering whether or not he thinks Ethereum’s native cryptocurrency is a security. Instead, he took the opportunity to reiterate his pitch for a more comprehensive regulatory environment for the crypto sector. Gensler Fails to Clarify Ether’s Stance Gensler not answering the question on Ethereum’s regulatory status highlights the significance of the issue. As an MIT professor in 2018, he had noted that...

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SEC Hires New Crypto Advisor Corey Frayer

The Securities and Exchange Commission (SEC) has brought former Senate staffer Corey Frayer on board to serve as a new advisor regarding crypto and digital currency-related issues. The SEC Is Pushing Its Crypto Agenda Forward The SEC has long been a thorn in the side of the crypto space. Despite all the bitcoin-based exchange-traded fund (ETF) applications that have made their way across SEC desks during the past four or five years, the agency has long thought the space...

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Security Risks Holding Back Insitutions and Wealth Managers from Investing in Crypto: Report

The cryptocurrency industry saw a tremendous surge in terms of institutional adoption in 2021. Experts suggest that this trend is likely to continue this year as well. But whether it’s a tidal wave or a trickle will depend on how the industry evolves in terms of technology that offers secure storage and protects user funds. Institutions Fear Security Risks The cryptocurrency market has been notoriously volatile – a common critique levied against the industry since the very...

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SEC Delays NYDIG’s Spot Bitcoin ETF Proposal by Two Months

The United States regulatory watchdog – Securities and Exchange Commission (SEC) – has delayed the ruling on NYDIG’s proposal for a spot bitcoin exchange-traded fund by 60 days. The original deadline was January 15th. If allowed, NYDIG’s Bitcoin ETF will be the first-ever spot Bitcoin ETF in the country. According to the official filing, the SEC said that it will decide whether to approve the NYDIG’s proposal by March 16. The agency explained that it needs to designate a...

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The SEC Appoints New Senior Advisor for Cryptocurrency Oversight

The Securities and Exchange Commission has hired Corey Frayer to advise Chairman Gary Gensler on regulations of cryptocurrencies. Frayer’s previous experience includes operating as a professional staff member of the Senate Banking Committee and policy adviser for the House Financial Services Committee. The US watchdog has a complicated history with the cryptocurrency space. The appointment of Gary Gensler as Chairman earlier this year was considered by many as a positive step...

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