A profound investigation has been initiated by a coalition of Republican lawmakers into the Securities and Exchange Commission (SEC), which raises fundamental questions about the agency’s operational integrity. The inquiry, aimed at uncovering potential political bias in hiring practices, was formally presented in a letter dated September 11, 2023, directed at SEC Chairman Gary Gensler.
Regulation
In a significant development in the cryptocurrency sector, eToro, a prominent trading platform, has announced a substantial halt in its digital asset trading operations following a settlement with the U.S. Securities and Exchange Commission (SEC). This decision stems from an investigation that uncovered eToro’s facilitation of trading crypto assets deemed as securities by U.S. law
The Commodity Futures Trading Commission (CFTC) has recently taken action to address the growing prevalence of crypto scams referred to as “pig butchering.” These scams have resulted in significant financial losses for victims, highlighting the need for increased awareness and education in the cryptocurrency space. The CFTC has partnered with various federal and private organizations
The Law Commission of the United Kingdom (UK) Parliament has recently introduced the Property (Digital Assets, etc.) Bill in an effort to legally recognize digital holdings. This proposed legislation aims to categorize crypto, non-fungible tokens (NFTs), and carbon credits as personal property under British law. This significant development marks a historic moment in British legal
The Digital Chamber (TDC) has taken a stand by calling on Congress to pass legislation that would categorize certain non-fungible tokens (NFTs) as consumer goods and therefore exempt them from federal securities laws. This move comes in response to the growing worries surrounding the Securities and Exchange Commission’s (SEC) recent actions, including sending a Wells
The US Securities and Exchange Commission (SEC) has been facing ongoing concerns regarding the Staff Accounting Bulletin No. 121 (SAB 121). Commissioner Hester Peirce has recently voiced her reservations about this regulation, emphasizing the need for a reevaluation of its content and process. Peirce’s comments follow a speech by SEC Chief Accountant Paul Munter, who
In a recent report by Social Capital Markets, it was revealed that the US Securities and Exchange Commission (SEC) imposed a staggering $4.68 billion in fines against various crypto companies in 2024. This marks a significant increase from previous years and represents the most aggressive regulatory year in the agency’s history. The total fines imposed
Robinhood’s crypto division has found itself in hot water, agreeing to pay a hefty $3.9 million fine to settle a California investigation into its questionable past practices. The California Attorney General, Rob Bonta, revealed that the settlement was reached due to Robinhood Crypto’s troubling behavior of preventing users from withdrawing their digital assets from 2018
Recently, the US Securities and Exchange Commission (SEC) charged and settled with hedge fund Galois Capital Management LLC over a private fund managed by the firm that primarily invested in crypto. The SEC charges are related to Galois Capital allegedly failing to comply with client asset safeguarding requirements, particularly crypto that the regulator labeled as
In a recent talk at the Korea Blockchain Week 2024 event, US Securities and Exchange Commission (SEC) Commissioner Mark T. Uyeda highlighted the need for specialized S-1 registration forms tailored specifically for digital asset securities. Uyeda emphasized that the current regulatory tools of the SEC may not effectively capture the complexities and unique features of
