At a recent gathering at the Columbia Law School Conference, Gary Gensler, the chair of the U.S. Securities and Exchange Commission, addressed the assembly on the topic of the digital currency landscape. His discourse highlighted the “benefits of mandatory disclosure,” with Gensler humorously alleging that certain “participants in crypto securities markets that seek to avoid…
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U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has cautioned about crypto investing. “This is a highly speculative asset class. One could just look at the volatility of bitcoin in the last few days,” he stressed, warning that thousands of crypto tokens may be securities. Gary Gensler’s Crypto Investment Warning The chairman of the…
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A U.S. district judge has sided with the Securities and Exchange Commission (SEC) in a ruling that declares the trading of certain crypto assets on secondary markets to be securities transactions. This decision emerged from an insider trading case involving crypto exchange Coinbase’s former product manager Ishan Wahi, his brother Nikhil Wahi, and their friend…
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The U.S. Securities and Exchange Commission (SEC) has renewed its warning that investments in crypto assets can be “exceptionally risky.” The regulator stressed that crypto-related investments “continue to be replete with fraud, including bogus coin offerings, Ponzi and pyramid schemes, and outright theft where the project promoter simply disappears with investors’ money.” SEC’s Crypto Investment…
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A bill has been introduced in the U.S. state of New Jersey to classify all cryptocurrencies issued and sold directly to institutional investors as securities. In contrast, the U.S. Securities and Exchange Commission (SEC) has previously stated that bitcoin is not a security, but SEC Chairman Gary Gensler views all other crypto tokens as securities.…
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The U.S. Securities and Exchange Commission (SEC) has identified 16 crypto tokens as securities in its lawsuit against cryptocurrency exchange Kraken. Some of the alleged crypto securities were the same as those highlighted in the SEC’s lawsuits against Coinbase and Binance. Kraken’s CEO stressed: “We strongly disagree with the SEC claims, stand firm in our…
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Bittrex US, the now-defunct cryptocurrency exchange in the United States, has recently introduced a plan that permits American customers to withdraw crypto and fiat from the platform, provided they satisfy the required regulatory criteria. This withdrawal arrangement was approved on Tuesday by the U.S. bankruptcy court located in Delaware. Cryptocurrency Exchange Bittrex US Enables Customer…
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According to Microstrategy founder Michael Saylor, regulators perceive no “legitimate path forward” for cryptocurrencies such as stablecoins, crypto securities, and tokens. In an interview with Bloomberg on Tuesday, Saylor emphasized that the entire industry is bound for rationalization and will undergo a significant metamorphosis into a Bitcoin-centric financial sector, leaving only a few proof-of-work tokens…
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The firm said it remains a “supporter” of the crypto sector and suggested that the move was purely to avoid any potential regulatory non-compliance. Retail trading platform eToro has halted purchases of Algorand (ALGO), Decentraland (MANA), Polygon (MATIC), and Dash (DASH) for customers in the United States in response to the tokens being labeled as…
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The U.S. Securities and Exchange Commission (SEC) has identified 12 crypto tokens as securities in a new lawsuit filed against Binance and its CEO, Changpeng Zhao (CZ). The securities regulator asserted that Binance platforms “have made available for trading on them crypto assets that are offered and sold as investment contracts, and thus as securities.”…
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