Tag Archives: sec

The FTX collapse spurred action from yet another financial watchdog. The Thailand Securities and Exchange Commission (SEC) is gearing up to impose more stringent regulations on crypto assets similar to that of the global market in a bid to protect investors. According to Bangkok Post, the SEC said that regulators should play a greater role in enhancing investor protection mechanisms. The regulator has established a working committee consisting of relevant government agencies...

Jeffrey Sprecher – CEO of Intercontinental Exchange Inc (ICE) – said watchdogs should regulate most cryptocurrencies as securities. Gary Gensler – Chairman of the US SEC – also classified the majority of digital assets as securities, meaning they should fall under his agency’s jurisdiction. ‘Exchanges Will be Separated From the Brokers’ Sprecher thinks the FTX collapse has shown that most cryptocurrencies should be classified as securities, or in other words, fall in the same...

The United States Federal Trade Commission (FTC) is targeting certain crypto companies over deceptive or misleading advertising. With the latest move, the FTC appears to follow in the footsteps of the SEC as the crackdown on the ecosystem broadens. According to a Bloomberg report, FTC spokeswoman Juliana Gruenwald Henderson said: “We are investigating several firms for possible misconduct concerning digital assets.” Henderson, however, declined to provide further details...

The U.S. Office of Foreign Assets Control (OFAC) has made it clear that it will keep imposing fines on cryptocurrency exchanges for alleged violations of the U.S. sanctions system. This time it was the turn of Kraken, one of the oldest crypto exchanges in the U.S. Who will be next? Kraken, a well-known American crypto exchange, agreed to pay a fine of more than $362,000 to the Treasury Department’s Office of Foreign Assets Control (OFAC) for “apparently” violating U.S....

Tom Emmer – the U.S. congressional representative for Minnesota – recently spoke on the political meetings and failures surrounding Sam Bankman-Fried (SBF), prior to his exchange’s collapse.  The Republican suggested that Bankman-Fried tried currying “special treatment” from the Securities and Exchange Commission (SEC) through meetings with the agency, and attempted to push legislation to the same effect.  Bankman-Fried’s Political Relationships In an interview with FOX on...

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The drama behind the now failing digital currency exchange FTX is getting larger, and it’s giving Gary Gensler – the man behind the Securities and Exchange Commission (SEC) an excuse to deepen his involvement. Gary Gensler Wants Higher SEC Involvement FTX was, at one point, one of the largest and most popular digital currency exchanges out there. At only three years old (it was founded in 2019), the company soon rose to the top to become one of the most profitable...

The United States Securities and Exchange Commission (SEC) extended its final decision on whether to approve the launch of ARK 21Shares’ spot BTC ETF to January 27, 2023. The Commission stated it needs more time to consider the pros and cons of the ETF. Two More Months Ark Invest wanted to introduce a spot Bitcoin ETF on the Cboe BZX Exchange in 2021 when it teamed up with the Switzerland-based fintech company – 21Shares. The securities watchdog of the States, though,...

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