Tag Archives: sec

The US Securities and Exchange Commission (SEC) – urged local companies that provide crypto services to disclose the associated risks with such operations to clients. The agency warned investors to be utterly cautious when delving into the asset class as they could experience a financial loss. Crypto Firms Should be Held Accountable The US SEC issued guidance to a wide range of entities, including cryptocurrency-related companies, to explain in detail the essence of their...

Rep. Tom Emmer of Minnesota’s 6th district recently sent a letter to Gary Gensler – Chairman of the Securities and Exchange Commission (SEC) – with critical questions about the authority’s crypto industry reporting requirements. The letter is written on behalf of multiple blockchain firms that claim these requirements – framed as “requests” – aren’t exactly voluntary, and are stifling innovation. Stifling the Crypto Sector Sent on Wednesday, the letter was co-signed by seven...

Early last week, authorities in the United States filed criminal and civil charges against a crypto executive and his sister for allegedly defrauding investors out of millions of dollars with the help of a little token called Ormeus Coin. Ormeus Coin – A Tool for Evil? John Barksdale and his sibling JonAtina are accused of lying about the profitability and value of Ormeus Coin and its mining assets. Allegedly, the asset was backed by more than $250 million through a...

A Bitcoin exchange-traded fund is something that the cryptocurrency community is looking forward to for quite some time. Unfortunately, the US Securities and Exchange Commission is not on the same page yet. The United States Securities and Exchange Commission rejected two proposals to list and trade shares of spot Bitcoin exchange-traded funds, according to Reuters.  The first one was the NYDIG Bitcoin ETF proposal, and the second one was the Global X Bitcoin Trust. The move...

The current Chairman of the US Securities and Exchange Commission – Gary Gensler – said that the agency will collaborate with government organizations to achieve “important public policy goals” in the cryptocurrency sector. His comments came shortly after the US President – Joe Biden – signed the first-ever executive order on digital assets. Gensler’s Reaction After The Executive Order The long-awaited executive order on cryptocurrencies from the White House was finally...

The half a decade-old multinational financial service giant has followed the footsteps of Blackrock into filing with the Securities and Exchange Commission to release a Crypto Economy ETF. The document informed that the main goal of the fund will be to “track as closely as possible, before fees and expenses, the total return of an index that is designed to deliver global exposure to companies that may benefit from the development or utilization of cryptocurrencies (including...

Attorney Joseph Hall, who previously worked at the US Securities and Exchange Commission, claimed there is a “pretty good chance” that the SEC “will lose all the merits” in the lawsuit against Ripple. The American went further, saying he does not quite understand why the watchdog decided to bring this case. The Never-Ending Battle The legal confrontation between the US Securities and Exchange Commission (SEC) and the blockchain company Ripple has been going on for more than a...

Grayscale – the world’s largest Bitcoin fund – has long had its attempts to become a spot-based Bitcoin ETF denied by the Securities and Exchange Commission (SEC). Investors are now speaking out against this, and have sent roughly 200 letters to the commission in support of the fund’s transition. Grayscale Investors Speak Out As reported by Bloomberg, the SEC received over 170 letters from Grayscale investors in February alone. This followed a public solicitation from the...

BlockFi recently agreed to pay $100 million in a settlement after the U.S. Securities Exchange Commission (SEC) charged the firm with “failing to register the offers and sales of its retail crypto lending product.” The news that kept the space abuzz was broken by an SEC document, followed by a dissent note from Commissioner Hester M. Peirce – both put out on the SEC website. The Genesis of Trouble for BlockFi BlockFi has been offering interest-bearing accounts for crypto...

The leading cryptocurrency trading venue appointed Scott Bauguess as the newest member of its policy team. The American spent 11 years as a top executive at the US Securities and Exchange Commission (SEC). Another Veteran on Board Coinbase continues to expand its management unit by hiring the financer Scott Bauguess as Vice President for global regulatory policy. As such, he will coordinate the exchange’s interaction with watchdogs. Bauguess has experience with regulators...