News
Need to know what happened in crypto today? Here is the latest news on daily trends and events impacting Bitcoin price, blockchain, DeFi, NFTs, Web3 and crypto regulation.
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Securities and Exchange Commission (SEC) Crypto 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 financial regulator’s plan to reinterpret how federal securities laws apply to crypto assets is ”pending review” by the White House’s Office of Management and Budget.
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Part of the approved rule changes allows institutions to trade the crypto ETFs as FLEX options, which offer customizable terms like non-standard strike prices and expiration dates.
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Fidelity called for updated reporting rules and clearer guidance on how decentralized platforms and alternative trading systems should operate under US law.
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The SEC’s digital asset taxonomy introduces new classifications for tokens, signaling a shift in regulatory approach and offering greater clarity for the crypto industry.
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Unlike Bitwise, Grayscale doesn’t plan to incorporate staking for its Hyperliquid ETF but hasn’t ruled out integrating it in the future.
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The SEC chair signaled that the agency would defer to a market structure bill if passed by Congress, but needed a “bridge” to clarify crypto regulation.
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Evernorth is moving closer to a public listing after filing a Form S-4 with the SEC, the final major regulatory hurdle of its SPAC merger plan.
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Nasdaq has been given the regulatory green light to offer some tokenized stocks, which will trade alongside traditional securities on its exchange.
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Paul Atkins says nonfungible tokens are typically collectibles, not investment contracts, as the agency outlines new categories of digital assets outside securities laws.
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The Washington, D.C.-based nonprofit cryptocurrency policy think tank argued that no-action letters within the crypto industry lead to fragmentation and uneven treatment.
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SEC chair Paul Atkins says the regulator should review giving a range of exemptions to crypto companies to allow “bespoke pathways” to raise money.
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The interpretative notice included information on token taxonomy and what digital assets the regulator would consider a security under federal law.
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The voluntary dismissal was filed without prejudice, meaning Beba and the DeFi Education Fund could refile the same case at a later date.
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The SEC has proposed narrowing Rule 15c2-11 to equity securities only, and is now seeking comment on whether it should apply to certain crypto assets, among other questions.
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