Five prominent cryptocurrency exchanges in the U.S. received letters from Congress requesting information about their steps to combat crypto fraud. The inquiries are part of the latest push from Congress to bring tighter regulation to the crypto industry in the U.S., as the country still struggles to determine which of its many regulatory agencies should…
US regulators are considering asking hedge funds to disclose their crypto exposure, The Wall Street Journal reported on Aug. 10. The Commodity Futures Trading Commission (CFTC) and Securities and Exchange Commission (SEC) would likely issue a joint proposal asking large hedge funds to use Form PF to report their crypto investments. The form would give…
The Securities and Exchange Commission (SEC) has sent a cease and desist letter to Bloom Protocol (BLT), asking it to register its tokens as securities or risk up to $31 million in fines. In the 18-page letter sent on Aug. 9, the SEC accused Bloom of violating the Securities Act by offering its BLT tokens…
Binance.US will delist Flexa’s AMP token on Aug. 15 after the U.S. Securities and Exchange Commission deemed the token a security. The exchange said it is carrying out this action “out of an abundance of caution.” We operate in a rapidly evolving industry, and our listing and delisting processes are designed to be responsive to market and…
The Securities and Exchange Commission (SEC) is investigating whether Coinbase allowed Americans to trade unregistered security assets, Bloomberg News reported on July 26. The SEC has doubled its investigation of the crypto exchange since it increased the number of listed tokens on its platform. Coinbase now lists over 150 cryptocurrencies; after keeping the number of…
Coinbase has strongly denied that it listed securities on its platform, according to a July 21 blog post by Paul Grewal, the firm’s Chief Legal Officer. 1/ Coinbase doesn’t list securities. Period. ⬇️ — paulgrewal.eth (@iampaulgrewal) July 21, 2022 SEC classifies nine crypto assets as securities The Securities and Exchange Commission (SEC), in a July…
US lawmaker Tom Emmer has accused the Security and Exchange Commission (SEC) of “cracking down on companies outside its jurisdiction.” 🚨The SEC Director of Enforcement admits the SEC is cracking down on companies outside its jurisdiction. Absolutely unacceptable. pic.twitter.com/wRQU54Ov6v — Tom Emmer (@RepTomEmmer) July 19, 2022 In a subcommittee hearing on Investor Protection held on…
US lawmaker Brad Sherman has questioned why the Securities and Exchange Commission (SEC) has not gone after crypto exchanges facilitating Ripple (XRP) trades if it considers it to be a security. Sherman raised this question during the Investor Protector subcommittee oversight hearing on July 19. Sherman said: “The division has determined that XRP is a…
The Securities and Exchange Commission (SEC) chairman Gary Gensler said the commission might tailor securities laws for crypto companies to comply. In an interview with Yahoo Finance on July 14, Gensler said the commission has “exemptive authorities” to tailor its investor protection and disclosure laws. Gensler continued that several crypto companies have been non-compliant in…
In an interview with Altcoin Daily, MicroStrategy’s CEO Michael Saylor said Ethereum (ETH) is security. According to Saylor, the fact that Ethereum was first issued via an initial coin offering proves it is not a commodity. “There’s a management team. There was a pre-mine. There’s a hard fork. There are continual hard forks.” He also talked…