Tag Archives: sec

Brad Garlinghouse, the CEO of the blockchain payment company that fights the US SEC in court over the status of XRP, believes there’s a lot of positive news in terms of crypto adoption worldwide. He made these comments following the recent crackdown from the Securities and Exchange Commission against Kraken and its crypto staking services. Step Back and Review Being the world’s largest economy, the actions undertaken by the US, its government, and the local regulatory bodies...

Following the Securities and Exchange Commission (SEC)’s crackdown against Kraken’s staking service on Thursday, one of its members is railing against her agency’s decision.  Hester Peirce – aka ‘Crypto Mom’ – issued a statement on Wednesday arguing that the SEC’s enforcement action is neither “efficient nor fair,” and that exchanges were never given a realistic pathway to registration, to begin with.  The SEC’s Enforcement Style  According to Peirce, the fundamental question...

On Feb. 9, Gary Gensler and his SEC took aim at Kraken and its staking-as-a-service products. The regulator claims that the U.S. crypto exchange is offering unregistered securities through its staking services. Consequently, Kraken suspended staking-as-a-service, and crypto markets have slumped. On Feb. 10, popular analyst and trader Alex Krüger put a positive spin on the latest regulatory crackdown by Uncle Sam. He said that a ban on staking, which the SEC is angling for,...

Kraken’s generated trading volume for the past 24 hours increased by almost 15%. The surge contrasts with the company’s issues prompted by the recent SEC investigation and the consecutive termination of staking services. Data extracted from CoinMarketCap and CoinGecko revealed that Kraken’s 24h trading volume stands at around $757 million, or a 14% increase. Based on numerous factors, including average liquidity, volume, and Web traffic, the company collects a score of 7.4...

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Bitcoin fell back to $22,000 on Thursday shortly after the Securities and Exchange Commission (SEC) laid charges against Kraken for the unregistered offering of its staking services.  Kraken agreed to halt the service and pay $30 million in disgorgement, prejudgment interest, and civil penalties, without admitting to or denying any wrongdoing.  According to the SEC’s press release, by letting users hand over their cryptocurrency in exchange for a promised return, Kraken’s...

As the Securities and Exchange Commission (SEC) continues vying for regulatory presence over the crypto market, a high-profile industry lawsuit looks poised to answer more questions about how far its authority should reach.  Lawyers defending Ishan Wahi – a former Coinbase manager accused of insider trading – are challenging the SEC’s claim that a list of 9 cryptos Wahi interacted with are, in fact, securities.  Which Cryptos Are Securities? Per an argument filed on Monday,...

A New Hampshire district court judge has clarified that a security injunction ruled earlier in the legal battle between the United States Securities and Exchange Commission (SEC) and decentralized content-sharing and publishing platform LBRY applied only to direct sales of the project’s tokens. The ruling came during an appeal hearing on January 30, 2023, settling an agelong debate between the SEC and the crypto community. Judge Clarifies Ruling in LBRY v. SEC Case The court...

The United States Securities and Exchange Commission (SEC) is targeting investment advisors for potentially offering digital asset custody to its clients without meeting proper criteria. Citing three unnamed sources, Reuters reported that the Commission is probing advisers’ efforts to follow the rules around custody of clients’ digital assets after the implosion of FTX. The investigation has not been made public yet, but the enforcement staff of the SEC has sought details...

The United States Securities and Exchange Commission (SEC) rejected the joint effort of Ark Investment Management and 21Shares to list a spot Bitcoin ETF on the Cboe BZX Exchange. The agency dismissed another application filed by the partners in the spring of 2022.  As indicated in a recent filing, the American financial regulator did not allow Ark 21Shares’ BTC Spot ETF to launch on the US market. The product was supposed to be listed on the CBOE BZH Exchange. However, the...