New Report: SEC Crackdown Might Benefit Crypto Sector in the Long Run
The ongoing crackdown on crypto companies by the US Securities and Exchange Commission (SEC) could benefit crypto in the long run, according to an editorial by Bloomberg.
U.S. SEC Changes Its Mind on Officially Labeling Digital Assets
The U.S. Securities and Exchange Commission (SEC) took one small step backwards in regulating the crypto sector on Wednesday, when it erased what would have been its first formal definition of “digital asset” from its latest hedge fund rule.
Ark Invest Adds $8.4M in Coinbase Shares, Remains Bullish
Ark Invest, the U.S. investment management firm led by Cathie Wood, has acquired more Coinbase shares, adding 129,604 shares worth over $6.4 million to its Ark Innovation ETF. The firm also added 23,456 shares to its Ark Next Generation Internet ETF and 15,809 shares to its Fintech Innovation ETF -- worth over $1.1 million and $790,000, respectively.
Bittrex Global CEO Claims Lack of Communication with SEC Over Enforcement Action
Oliver Linch, CEO of cryptocurrency exchange Bittrex Global, has pushed back against the US Securities and Exchange Commission (SEC), claiming that the company was not given a clear opportunity to discuss potential enforcement action. The SEC charged Bittrex in April for operating as an unregistered exchange, broker, and clearing agency, and Bittrex Global "in connection with its operation of a single shared order book along with Bittrex."
Crypto Industry Needs Principles-Based Regulatory Approach for Development
One year after Biden's executive order on increased scrutiny and regulation of the crypto industry, there remains little clarity on which federal regulator will be tasked with the job. The SEC and CFTC both see crypto assets as their exclusive territories, but a principles-based regulatory approach is needed for the industry's development. The SEC defines most cryptocurrencies other than Bitcoin as securities, while the CFTC defines them as commodities.
Breaking: Coinbase Insiders Including CEO Used Inside Information to Avoid $1 Billion in Losses
A Coinbase investor has filed a lawsuit in Delaware Chancery Court, accusing insiders, including CEO Brian Armstrong, of using insider information to avoid $1 billion in losses during the stock's public listing in 2019. The investor seeks the return of "ill-gotten gains" from Armstrong and other Coinbase executives.
Former SEC Lawyer Admits To Agency’s Wrongdoing In XRP Lawsuit
John Reed Stark, who had worked as a lawyer in the SEC’s enforcement division for a long time, admitted that the SEC’s actions in the XRP lawsuit led to investors losing in billions of dollars. He expressed his stance on crypto saying these tokens fail to fit in the criteria for both investment and currency, adding that fraudulent activities are deeply rooted in the ecosystem, However, he agreed that investors lost great deal due to the SEC’s actions in the Ripple lawsuit. When asked about the SEC’s actions leading to wiping billions off the market cap of XRP, he admitted that it’s a fair point.
Ripple Shares Update on SEC Lawsuit, Predicts New End Date
Ripple Labs provided an update on the SEC lawsuit, which has been on for more than two years. It emphasized the March 6, 2023, order issued by Judge Analisa Torres. The order decided which SEC’s and Ripple’s expert opinions the court might consider in summary judgment.
Crypto Securities Debate: John Deaton Sends Open Challenge to the SEC
Pro-Ripple attorney and crypto lawyer John Deaton has sent an open challenge in response to the latest video message from Gary Gensler, the Chairman of the United States Securities and Exchange Commission (SEC) in which he reprimanded startups operating in the crypto ecosystem for falsely tagging their products as non securities.
U.S. SEC Runs Down Another Crypto Firm, Imposes Hefty $4M Fine
The U.S. Securities and Exchange Commission (SEC) has levied a gargantuan fine of approximately $4 million on Coinme, a company based in the heart of Seattle. In addition, the finanical watchodg has charged a few other defendants related to the case, for engaging in an unregistered and fraudulent marketing of a cryptocurrency asset called UpToken.
