Veteran Ripple executive and former general manager Monica Long said the company has seen record growth in recent months despite the crypto winter.
The Securities and Exchange Commission, or SEC, is an independent agency within the United States government tasked with regulating the securities markets in a way that protects the public from fraud, maintains fair and efficient markets, and facilitates healthy capital formation in the U.S. and its jurisdictions.
The emergence of cryptocurrencies with the advent of Bitcoin (BTC) directly challenged the hegemonic order of the legacy financial system and quickly provoked ire and distrust from various regulatory authorities.
The SEC, however, remained largely quiet on securities law applicability to cryptocurrencies and fundraising events until July 2017 when the agency published their report on the DAO project, concluding that the sale of DAO tokens was in fact an unregistered securities offering and therefore subject to securities laws. This was published in the context of the initial coin offering, or ICO, craze of 2017 to2018.
Since then, the SEC has slowly brought cases against various projects such as halting the launch of the highly anticipated Telegram blockchain network, TON, in October 2019, thus setting legal precedent for all current and future blockchain ventures.
The SEC is one of the most powerful regulatory agencies in the world, as most countries often wait to see how the U.S. regulates certain industries before implementing their own legislation and regulatory frameworks.
According to sources, the regulator has been probing registered investment advisers over how they’ve offered crypto custody to their clients.11750
The Web3 Foundation has reminded the world that, in its eyes, it has conformed to SEC requirements and DOT should no longer be considered a security.6291
Senator Elizabeth Warren claims the Trump Administration “gave a green light” to a cryptocurrency market full of junk tokens, rug pulls and Ponzi schemes.3977
A Jan. 25 report from the Financial Times which was widely shared characterized Circle as having “blamed” the SEC for its “jettisoned” public listing plan.5029
Commercial lawyers with a solid knowledge of blockchain and crypto tech will be in particularly high demand.4318
Grayscale had expected it wouldn’t be able to voice arguments until the second quarter, and is calling the quicker timeline “welcome news.”4460
Securities and Exchange Commissioner Hester Peirce highlighted that despite a very bad year, there are lessons for the crypto industry to learn.7235
Grayscale’s chief was the latest to take a swing at the authority for its so-called “regulation by enforcement” actions.6296
Anatoly Legkodymov, founder of China-based crypto firm Bitzlato, was arrested under suspicion of money laundering related to illicit Russian finance.5303
Lawyer and former SEC official John Reed Stark came out in defense of the SEC’s enforcement efforts in the crypto space.3536
The SEC has accused Avraham Eisenberg of manipulating the Mango Markets platform by manipulating the MNGO token, which the company allegedly sold as a security.26888
The crypto lender didn’t admit or deny the findings from the SEC’s investigation despite agreeing to the settlement.9447
Ripple CEO Brad Garlinghouse said the firm’s XRP lawsuit could come to an end within “single-digit months.”24816
Digital Currency Group, a venture capital firm that owns a stake in more than 200 crypto projects, announced the dividend halt while one of its subsidiaries is in financial strife.5050