SEC Chair Gensler Is Driving Crypto to Chinese Communist Party, Says Republican Congressman
Prior to the hearing, lawmakers published an open letter denouncing the SEC for its lack of clear guidelines for crypto companies.
SEC’s Gary Gensler Says He Has Never Owned Crypto
Securities and Exchange Commission (SEC) chair Gary Gensler stated that he has never owned cryptocurrency or digital assets during an April 18 hearing.
Coinbase is About to Go to Court With the SEC: Brian Armstrong
Coinbase is on the brink of legal warfare with the Securities and Exchange Commission (SEC) to reach long-awaited clarity on how federal securities laws apply to the crypto industry, according to CEO Brian Armstrong.
SEC’s Gary Gensler Dodges Question on Whether Ethereum Is a Security
Gensler did not give a clear and direct answer to Congressman Patrick McHenry, the committee chairman, who asked if Ether, the second-largest cryptocurrency by market capitalization, is a security.
Crypto Evening Briefing: Blockchain Funding in Africa Jumped 5x in 2022
Despite the challenges of 2022, the African continent's blockchain community has continued to attract significant investments, with blockchain venture funding increasing five-fold on a yearly level.
Crypto Policy Showdown: SEC Chief to Testify in Huge Week for Regulation
The Chair of the United States Securities and Exchange Commission (SEC), Gary Gensler, is set to testify before the US House of Representatives Financial Services Committee amid a major regulatory onslaught against the cryptocurrency industry. This will be Gensler's first appearance before the committee in over a year and a half, and it will focus on the issue of oversight from the agency. The hearing arrives as the SEC is waging a widely publicized courtroom battle against the blockchain company Ripple, and the outcome of the case could have a tremendous impact on the entire crypto market. The upcoming hearing is expected to be bipartisan, with both the Republican and Democratic parties critical of Gensler's activities against the crypto industry. Additionally, the McHenry/Waters stablecoin legislation is back in the mix, with Congress reviving the 2022 legislative draft, and a legislative hearing scheduled for April 19.
Terra’s Do Kwon Fights SEC Access to Singaporean Records
A US judge has denied a request by Terra co-founder Do Kwon to block the SEC's access to certain documents from the Monetary Authority of Singapore, in relation to the regulator's lawsuit against Kwon and Terraform Labs over an alleged unregistered securities offering. Kwon is also facing charges of fraud from prosecutors in New York and investigations from authorities in South Korea. Recent reports suggest that Kwon transferred $7 million to a Seoul-based law firm before the Terra meltdown occurred, which may result in further legal repercussions for him if proven. South Korean prosecutors have also reportedly contacted Binance to halt any withdrawals associated with Kwon.
Gensler Takes Aim at DeFi Platforms in Testimony Before House Financial Services Committee
SEC Chair Gary Gensler is set to testify before the U.S. House Financial Services Committee on April 18, 2023, where he will share his personal views on crypto markets and regulation. In his prepared remarks, Gensler emphasizes that most crypto tokens are considered securities and stresses the importance of compliance with securities laws. He argues that crypto investors should benefit from the same protection as other investors and highlights the current noncompliance in the crypto market, which endangers investors and jeopardizes public trust in capital markets. Gensler notes that the SEC has taken action to address this issue through enforcement actions and rule proposals. He emphasizes that regulation aims to protect U.S. investors and reiterates that Congress has given the SEC a mandate to protect investors, regardless of the labels or technology used.
Cointime News Wrapup-Afternoon: Hong Kong’s Banks Are Taking Lead on What e-HKD Will Look Like
At least one bank is leaning towards developing it on a permissioned blockchain.
Video of SEC Chair Praising Algorand Resurfaces After Recently Deeming It a Security
A video of US SEC Chair Gary Genser praising smart contract platform Algorand in 2019 has resurfaced on Twitter following the SEC's declaration that Algorand's ALGO token is an unregistered security. The SEC's lawsuit against crypto trading platform Bittrex on 17 April took issue with the Algorand Foundation's initial coin offering (ICO) of ALGO in June 2019. Cryptocurrency researcher Mason Versluis tweeted the video on 17 April, criticizing Genser for "shilling" ALGO, and others called him out for hypocrisy. Genser is due to testify before the US House Committee on Financial Services on 18 April, and is expected to be questioned over his Algorand comments.
