The upcoming House Appropriation budget threatens to prevent the US Securities and Exchange Commission (SEC) from implementing its controversial Staff Accounting Bulletin 121 (SAB 121). FOX Business reporter Eleanor Terrett revealed on June 4 that the bill includes a provision that would prohibit the SEC from using appropriated funds to enforce the rule. This budget
Regulation
The market is underestimating the significance of Washington’s evolving attitude toward cryptocurrencies, according to Bitwise CIO Matt Hougan. In a memo dated June 4, he highlighted how the US political landscape has shifted significantly towards a more positive stance on crypto in recent weeks. Hougan believes that if the impact of these changes had been
The CEO of Coinbase, Brian Armstrong, has recently called for a united effort to secure clear regulations for the crypto industry. In a blog post titled “How to get regulatory clarity for crypto,” Armstrong emphasized the company’s commitment to investing in policy efforts over the next decade as regulations evolve globally. He highlighted the challenges
Upon vetoing H.J. Res. 109, US President Joe Biden cited the SEC’s controversial SAB 121 rule as embodying the “considered technical” views of SEC staff. He argued that overturning the rule would impede the SEC’s ability to establish guidelines and address potential risks, thereby diminishing the agency’s control over accounting practices. Furthermore, Biden highlighted the
There has been recent speculation by Bloomberg ETF analyst, Eric Balchunas, that US spot Ethereum ETFs could potentially launch in June. Balchunas has suggested that there is a legitimate chance that these spot Ethereum ETFs will be up and running by the end of June, although he believes an earlier mid-June launch is unlikely. Balchunas’
In a recent move, SEC commissioner Hester Peirce has put forward a proposal for the establishment of a shared digital securities sandbox between the US and the UK. This initiative aims to extend the existing joint digital securities sandbox (DSS) operated by the Bank of England and the Financial Conduct Authority (FCA) to include US
Senator Cynthia Lummis is a prominent figure in the US Senate who has been a vocal advocate for pro-crypto legislation. She firmly believes that the crypto market has the potential to play a significant role in the US economy, as long as the opportunity is not squandered. In her journey as a senator, she encountered
Recently, the US District Court for the District of Utah made the decision to dismiss the SEC’s case against DEBT Box without prejudice. In addition to this dismissal, the court imposed fines of over $1.8 million against the SEC for bad faith conduct. These fines, which include attorney fees and costs, serve as a form
The European Securities and Markets Authority (ESMA) has been closely examining Maximum Extractable Value (MEV) as a form of illegal market abuse within the proposed technical standards for the Markets in Crypto-Assets (MiCA) regulation. This development, highlighted by Patrick Hansen, a well-known commentator on crypto regulations, has significant implications for the cryptocurrency industry. According to
The U.S. District Court for the Western District of Texas recently ruled in favor of the Securities and Exchange Commission (SEC) in a case against crypto influencer Ian Balina. The court found that Balina had offered and sold SPRK Tokens as securities in unregistered transactions, thus violating US securities laws. The SEC’s complaint, filed on
