Cointime News Wrapup-Afternoon: Sotheby’s to Auction Off NFTs Owned by Defunct Hedge Fund Three Arrows Capital
Sotheby's will hold sales of the "Grails" art collection, consisting of NFT artworks belonging to bankrupt crypto hedge fund Three Arrows Capital and its NFT-purchasing fund Starry Night Capital.
SEC’s ‘Brute Force’ Crypto Regulation Attempt Is ‘Bad Policy’ — Paradigm
On April 21, Web3 venture capital firm Paradigm published a policy piece on the problems with SEC registration.
Coinbase CEO Brian Armstrong Says SEC Has Caused Untold Harm to America
He vowed to fight to fix this issue and push for more sensible regulation of the crypto industry.
SEC Issues Bulletin Urging Advisers to Exercise Heightened Scrutiny on Risky Products, Including Crypto
The SEC had previously overlooked digital assets in its rules and guidance until last year.
SEC Tells Financial Professionals That Crypto Assets Demand ‘Heightened Scrutiny’
The U.S. Securities and Exchange Commission (SEC) told broker-dealers and investment advisors that certain products are complex and carry additional risk.
CFTC Adviser Chris Perkins Says U.S. Risks Falling Behind in Crypto
Chris Perkins, President of crypto-focused VC CoinFund and adviser to the Commodities and Futures Trade Commission (CFTC), has published a regulatory white paper warning that the US is at risk of falling behind in cryptocurrency.
Algorand Down 10% Despite Foundation Claims That It Isn’t Security
Algorand (ALGO) fell 10.42% in the last 24 hours, dropping to $0.19642, despite the Algorand Foundation refuting the SEC's claim that the asset is a security. The SEC alleged that ALGO was a security because investors in the token had a reasonable expectation of profits based on the efforts of others, with the Algorand Foundation "tying the potential growth of the Algorand blockchain to potential demand for the ALGO token itself and to its own commitment to preserving a price floor for ALGO." However, the Foundation refuted the allegations, stating that ALGOs are not securities under US law.
SEC Deems DASH, ALGO, and OMG 'Unregistered Securities' in Bittrex Lawsuit
In the lawsuit against Bittrex, the SEC insists that DASH, ALGO, TKN, NGC, and OMG are unregistered securities.
Crypto Companies May Use a Supreme Court Doctrine to Push Back Against SEC: Lawyer
Cohen said crypto companies may try to hold off the SEC using the U.S. Supreme Court’s "major questions doctrine," which holds that regulators can’t exceed their authority. The high court last used the doctrine in 2022 in a 6-3 decision involving the Environmental Protection Agency on whether it had the authority to issue an emissions cap on greenhouse gases.
Republican Tom Emmer Criticizes SEC Chairman's Crypto Regulation Approach, Citing Harm to US Tech Firms
April 19 (Cointime) - Republican Tom Emmer (R-MN) criticized U.S. Securities and Exchange Commission Chairman Gary Gensler's approach to regulating the crypto world, asserting that U.S. tech firms were suffering as a result.
