Recent developments in the oversight of the Securities and Exchange Commission (SEC) have ignited a political firestorm, casting a shadow over the integrity of one of the nation’s key regulatory bodies. Lawmakers have initiated a formal investigation into potential political bias within the SEC’s hiring processes. This investigation, communicated through a letter dated September 11,
Regulation
The issue of “pig butchering” scams within the cryptocurrency market has been growing at an alarming rate, leading to billions in losses for unsuspecting victims. The lack of awareness and understanding surrounding these scams has made it easier for fraudsters to exploit individuals and manipulate them into investing in fake projects. In response to the
The Law Commission of the United Kingdom recently introduced the Property (Digital Assets, etc.) Bill to address the legal recognition of digital assets such as cryptocurrencies, non-fungible tokens (NFTs), and carbon credits. This groundbreaking legislation aims to incorporate these assets into English and Welsh property law for the first time in history. While this move
The Digital Chamber (TDC) recently made an appeal to Congress to pass legislation categorizing certain non-fungible tokens (NFTs) as consumer goods and removing them from the purview of federal securities laws. This move by TDC comes in response to the increasing scrutiny faced by the Securities and Exchange Commission (SEC) for its enforcement actions, notably
The US Securities and Exchange Commission (SEC) Commissioner Hester Peirce recently expressed her ongoing concerns regarding the SEC’s Staff Accounting Bulletin No. 121 (SAB 121). This comes after a speech by SEC Chief Accountant Paul Munter, where he reiterated the Commission’s unwavering stance on SAB 121. Despite the increasing attention on the regulation, Munter emphasized
The year 2024 marked a significant milestone for the US Securities and Exchange Commission (SEC) as it imposed a record-breaking $4.68 billion in fines against crypto companies. This aggressive regulatory stance represents a sharp increase from previous years, reflecting the SEC’s intensified scrutiny of the crypto sector. The agency’s primary goal is to enforce securities
Robinhood’s crypto division has agreed to pay a $3.9 million fine to settle a California investigation into its past practices. California Attorney General Rob Bonta stated that the settlement was reached because Robinhood Crypto prevented users from withdrawing their digital assets between 2018 and 2022. The investigation found that Robinhood misled customers by claiming it
The US Securities and Exchange Commission (SEC) recently charged and settled with hedge fund Galois Capital Management LLC regarding a private fund primarily invested in crypto. The charges are related to Galois Capital’s failure to comply with client asset safeguarding requirements, specifically with crypto assets that were classified as securities. The firm agreed to pay
The US Securities and Exchange Commission (SEC) Commissioner Mark T. Uyeda recently addressed the need for specialized S-1 registration forms specifically designed for digital asset securities. During his talk at the Korea Blockchain Week 2024 event on Sept. 3, Uyeda highlighted the challenges posed by the current regulatory tools in addressing the unique features of
The recent filing by the US Securities and Exchange Commission (SEC) regarding the repayment strategy in the ongoing FTX bankruptcy case has raised significant concerns within the industry. The SEC expressed worries about the plan to repay creditors using stablecoins or other digital assets, potentially challenging these transactions under federal securities laws. While the SEC
