Part of the funds would hire staff across SEC divisions, with one job dedicated to crypto and another to help with the increased lawsuits the agency faces.
SEC News
The Securities and Exchange Commission (SEC) serves as a cornerstone of United States financial regulation, ensuring fair markets and protecting against fraud. The emergence of cryptocurrencies like Bitcoin (BTC) challenged established norms. Despite initially not interfering in the crypto space, the SEC intervened during the 2017 to 2018 initial coin offering frenzy, asserting securities laws on tokens like The DAO (DAO).
Key legal battles followed, including halting the Telegram Open Network and suing Ripple for unregistered XRP (XRP) sales. In a significant move, the SEC sued Binance in June 2023, alleging unregistered securities sales, implicating prominent tokens such as Solana’s (SOL), Cardano’s (ADA), Polygon’s (MATIC), Filecoin (FIL), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Algorand (ALGO), Axie Infinity’s (AXS) and Coti (COTI). Coinbase also faced charges related to its staking service.
These actions reverberated globally, as nations often model their regulations after the U.S., highlighting the SEC’s international impact. Through its interventions and legal battles, the SEC shapes the future of crypto regulation, ensuring the integrity of digital markets and influencing global financial landscapes.
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The price of LDO jumped briefly after an updated spot Ether ETF application from Fidelity which proposed to stake “a portion” of the fund’s ETH to generate additional income.
2554The SEC initially conceded it misled the court but argued a sanction wasn’t appropriate.
5890The European Parliament granted final approval to the European Union’s artificial intelligence law, one of the world’s first set of comprehensive AI regulations.
1885The SEC could bring more regulatory scrutiny toward Ether ETF applications, despite the prior approval of spot Bitcoin ETFs, according to Recharge Capital’s John Lo.
1080Reddit mentioned in the filing that it is not surprised by the FTC’s interest in this area due to the unique nature of the technologies and business agreements.
4368Under the updated guidelines, digital asset exchanges and custodians must pay an application fee of 300,000 naira ($186), up from the previous 100,000 naira ($62).
4971This week’s Crypto Biz covers the buzz surrounding Bitcoin, the outlook for Ether ETFs, Ubisoft as an XPLA validator, Coinbase’s challenges and global banks taking on blockchain.
9223Coinbase chief legal officer Paul Grewal says there’s direct evidence that Ether’s futures and spot markets are just as correlated as Bitcoin, suggesting the senator’s letter is misguided.
12105Two Democratic senators argue that any further approvals would expose investors to risks including “fraud and manipulation.”
20297Federal Judge Edgardo Ramos found the SEC’s suit “plausibly alleges” that Gemini Earn was a securities offering, allowing the case to continue in court.
2053The asset manager's Opportunity Trust Fund has $1.4 billion in assets under management.
5125XRP's price has gained over 11.50% in the past 24 hours amid large withdrawals from crypto exchanges.
2160Senior Bloomberg ETF analyst Eric Balchunas says the chances of an ETH ETF approval grow slimmer every day the SEC maintains its radio silence with prospective fund issuers.
13053Coinbase delivered an opening brief in a United States appeals court, arguing that the SEC should be forced to “engage in rulemaking.”
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