SEC Charges Terraform Labs and CEO Do Kwon with Defrauding Investors in Crypto Schemes
Terraform Labs said it has not been contacted by the SEC about the action, while SEC declined to comment.
Breaking: SEC Sues Do Kwon and Terraform Labs for Fraud
The United States Securities and Exchange Commission (SEC) has filed a lawsuit against Terraform Labs and its founder Do Kwon, charging the for "orchestrating a multi-billion dollar crypto asset securities fraud."
SEC Proposes Enhanced Safeguarding Rule for Registered Investment Advisers
The Securities and Exchange Commission today proposed rule changes to enhance protections of customer assets managed by registered investment advisers.
Crypto Evening Briefing: South Korea Commits $173 Million To Metaverse Development In 2023; HKSAR Government’s Inaugural Tokenised Green Bond Offering
Get the latest news here: Cointime channel — https://t.me/cointime_en
Coinbase Already in Line With SEC Proposal, Argues Company CLO
Yesterday, the SEC proposed new rules for crypto companies acting as qualified custodians for institutional funds.
Binance CSO Anticipates Exchange Paying ‘Remediations’ to Make Amends With US Regulators
Binance’s chief strategy officer stated that the crypto exchange would likely need to pay fines to resolve ongoing SEC inquiries into its U.S. operations.
Cointime News Wrapup-Afternoon Version: Galaxy Digital CEO ‘Wouldn’t be Surprised’ if Bitcoin Hit $30K This Quarter
Get the latest news here: Cointime channel — https://t.me/cointime_en
SEC Proposes Tougher Rules as Part of its Crypto Custody Crackdown
A five-member panel of the United States Securities Exchange Commission (SEC) has voted 4-1 in favour of a proposal that may make it more difficult for cryptocurrency firms to serve as digital asset custodians in the future. The proposal, which is yet to be officially approved by the SEC, recommends amendments to the “2009 Custody Rule” will apply to custodians of “all assets” including cryptocurrencies, according to a Feb. 15 statement from SEC Chairman Gary Gensler. Gensler stated that currently, some crypto trading platforms that are offering custody services are not actual “qualified custodians.” (Cointelegraph)
Coinbase, BitGo, and Anchorage Assert that They Comply With SEC Custody Rules
Coinbase and other crypto custody providers asserted on Feb. 15 that they will be able to operate under proposed changes to custodial rules. Today, the U.S. SEC voted to propose a regulatory change that could require exchanges to store user assets with qualified custodians. This would also update rules for custodians, possibly making it difficult for existing crypto companies to offer custody services. Coinbase chief legal officer Paul Grewal stated on Twitter that his company is “confident” that it will remain a qualified custodian under the proposed rule change. He added that Coinbase endorses the U.S. Securities and Exchange Commission’s efforts to provide investor protections and supports the public rulemaking process. (cryptoslate)
SEC Commissioner Says SEC Plan Involves Substantial Departure From Current Industry Practice
The Commission acknowledge[s] that an agreement between the custodian and the adviser would be a substantial departure from current industry practice.
