The ongoing concerns raised by US Securities and Exchange Commission (SEC) Commissioner Hester Peirce regarding the SEC’s Staff Accounting Bulletin No. 121 (SAB 121) have stirred up a debate in the crypto industry. In a recent speech by SEC Chief Accountant Paul Munter on September 9, he reiterated the Commission’s unchanged stance on SAB 121.
Regulation
In 2024, the US Securities and Exchange Commission (SEC) made headlines by imposing a staggering $4.68 billion in fines against various cryptocurrency companies. This amount represented the most aggressive regulatory efforts by the agency in its history, according to a report by Social Capital Markets. The total fines imposed by the SEC since 2013 amounted
Robinhood’s crypto division recently agreed to pay a $3.9 million fine to settle a California investigation into its past practices. The investigation found that users were prevented from withdrawing their digital assets from 2018 to 2022. This lack of transparency and accessibility raises concerns about the company’s handling of user funds. California Attorney General Rob
The recent charges and settlement between the US Securities and Exchange Commission (SEC) and Galois Capital Management LLC shed light on the importance of compliance with client asset safeguarding requirements. The SEC found that Galois Capital failed to comply with the Custody Rule provisions, which ultimately exposed investors to significant risks. By not securing its
US Securities and Exchange Commission (SEC) Commissioner Mark T. Uyeda recently called for the development of specialized S-1 registration forms specifically tailored for digital asset securities. This plea was made during his speech at the Korea Blockchain Week 2024 event on September 3. Uyeda emphasized the need for the SEC to update its regulatory tools
The US Securities and Exchange Commission (SEC) recently expressed concerns regarding the proposed repayment strategy in the ongoing FTX bankruptcy case. The plan, which involves repaying creditors through stablecoins or other digital assets, has led the SEC to reserve the right to challenge these transactions under federal securities laws. This move has raised eyebrows and
Pavel Durov, the CEO of Telegram, has recently been released from prison but has been placed under judicial supervision with specific conditions. These conditions include the obligation to deposit a €5 million bond, along with a requirement to remain within French territory and report to the police station twice a week. This comes after the
Congressman Wiley Nickel, a vocal supporter of the crypto industry, has publicly criticized the US Securities and Exchange Commission (SEC) for its enforcement-focused approach to regulation. He believes that the SEC’s “regulation by enforcement” tactics are an abuse of power that could harm trust in the regulatory system and stifle digital innovation in the US.
The US Securities and Exchange Commission (SEC) has recently emphasized the importance of retail investors having timely access to fund portfolio data. The current regulatory framework mandates that registered investment companies provide periodic portfolio holdings data to the Commission and investors. However, this data is often delayed, impacting millions of households in the US and
Crypto firms are facing increasing challenges in the UK due to burdensome and time-consuming regulatory processes. According to the Financial Times, registrations for crypto asset exchanges and custodian wallet providers with the Financial Conduct Authority (FCA) have decreased by more than 50% in the past three years. This decline highlights the growing frustration within the
Recently, the Nigerian Securities and Exchange Commission (SEC) made a significant move by granting Approval-in-Principle to two local crypto exchanges – Busha Digital Limited and Quidax. This decision falls under the Accelerated Regulatory Incubation Program (ARIP), which aims to onboard operational firms in preparation for the upcoming Rules on Virtual Asset Service Providers in May
The recent announcement by OpenSea CEO, Devin Finzer, regarding the Wells Notice from the US Securities and Exchange Commission (SEC) has sent shockwaves through the NFT community. The SEC’s decision to classify NFTs on the platform as securities has raised concerns among creators and artists who fear the stifling of innovation and potential livelihood jeopardy.
France has long been seen as a favorable base for crypto businesses due to its clear regulations, skilled workforce, and innovation-friendly environment. However, the recent French elections have brought about uncertainties in the country’s position as a crypto hub. The surge in support for the New Popular Front (NFP) coalition, which has proposed significant changes
The recent case involving the US Securities and Exchange Commission (SEC) and Abra has brought to light serious allegations against the crypto lending firm. Abra was accused of failing to register its crypto asset lending product, Abra Earn, which resulted in settled charges by the regulatory body. Stacy Bogert, Associate Director of the SEC’s Division