Insider: Multiple fund companies expect the SEC will not approve Ethereum spot ETF next week
On May 18th, it was reported that the US SEC is preparing to announce at least one decision regarding an Ethereum spot ETF application before next week. According to two sources, some fund companies are expected to be rejected because their private conversations with the SEC are not as frequent as they were before the Bitcoin spot ETF approval in January of this year.
Mark Cuban: SEC Chairman Gensler's Crypto Policy Could Cost Biden the Election
On May 12th, billionaire Mark Cuban criticized the cryptocurrency regulatory approach of US SEC Chairman Gary Gensler on X platform. He stated that Gensler's position may alienate voters who are interested in cryptocurrency, which could affect Joe Biden's election prospects. He said that if Biden fails in the upcoming November election, you may very well thank Gensler and the SEC New York office. What he (Gensler) has done is make it nearly impossible for legitimate cryptocurrency companies to operate, killing countless businesses and ruining countless entrepreneurs.
Former SEC Enforcement Division Assistant Director: SEC under Trump will "vigorously pursue" cryptocurrency regulation
Jennifer Lee, former Assistant Director of Enforcement at the SEC, said that if Donald Trump is re-elected, it may not change the SEC's stance on cryptocurrency. Lee told CNBC that the SEC "vigorously pursued cryptocurrency cases" during Trump's first term as president and brought "sunshine and regulation" to this emerging industry. If Trump is re-elected for a second term as president, the SEC will continue to "define its space and enter the cryptocurrency field." The SEC's jurisdiction over specific cryptocurrencies is more consistent, but its jurisdiction over the industry as a whole remains an unresolved issue.
US Court to hear proposed remedies from Terraform Labs, Do Kwon in May
The SEC proposed that Do Kwon and Terraform pay roughly $5.3 billion in disgorgement, prejudgment interest and civil penalties, while the firm’s team suggested only $1 million.
SEC Files Amended Suit against Justin Sun and ‘Alter Ego’ Firms
The SEC has filed an amended lawsuit against Tron founder Justin Sun, claiming that he traveled extensively throughout the US and took actions directed towards the country. The SEC argues that this gives them enough "personal jurisdiction" over Sun, Tron, and two other businesses linked to him. The amended filing also alleges that Sun spent at least 380 days in the country between 2017 and 2019 on business trips representing the Tron Foundation and his alter ego firms. Sun had previously sought to dismiss the SEC's original lawsuit in March, but the allegations remain unchanged.
SEC breaks from past policy guidelines in Uniswap crackdown
The U.S. SEC Wells notice against Uniswap raises questions about consistency in policy enforcement.
SEC seeks to increase resources related to encryption enforcement review in fiscal year 2025 budget
the US Securities and Exchange Commission (SEC) has requested a budget increase for the 2025 fiscal year, with plans to expand its enforcement and examination division by adding more than 50 new positions. Cryptocurrency is a priority, and additional resources will strengthen the department's ability to respond to critical and constantly changing risks, such as those related to key market infrastructure resilience, network and information security, and risks related to cryptocurrency and emerging technologies. Additionally, the SEC has requested an additional position for its Office of Investor Education, which will primarily focus on handling issues and complaints related to fraud involving securities related to cryptocurrency assets.
Federal Judge Rules SEC Must Pay Legal Costs for Crypto Company After "Gross Abuse of Power"
A federal judge has ordered the U.S. Securities and Exchange Commission (SEC) to pay legal costs for DEBT Box, a Utah-based crypto company, after finding that the regulator had committed a "gross abuse of power" in its efforts to secure a temporary restraining order against the company. The SEC had sued DEBT Box last year, alleging fraud and securing a temporary asset freeze and restraining order against the company. However, Chief Judge Robert Shelby found that the SEC's attorneys had misled the court both in applying for the temporary restraining order and afterward, and ordered the regulator to pay defendants' and receivers' fees as part of the court's sanctions. The SEC is currently reviewing the decision.
Nigeria SEC seeks to increase cryptocurrency exchange registration fees
The Nigerian Securities and Exchange Commission (SEC) has proposed revising the rules for platforms that provide cryptocurrency services. The committee suggests increasing the registration fee for cryptocurrency exchanges from $18,620 (30 million naira) to $93,000 (1.5 billion naira).
TD Cowen: SEC chairman will continue to pursue cryptocurrency cases after winning Coinbase insider trading case
According to a report from investment bank TDCowen, Gary Gensler, the chairman of the US Securities and Exchange Commission, is expected to continue bringing cryptocurrency cases after winning the insider trading lawsuit against Coinbase. Last week, the Western District Court in Washington made a favorable ruling for the SEC in an insider trading case. Therefore, it is expected that Gensler will continue to file lawsuits for at least the next two years until the end of his term in June 2026.
