Tag: Regulation

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SEC Urged to Abandon Crypto ‘Crusade’ by Congressman Torres After Ripple Legal Battle

July 20, 2023

Congressman Ritchie Torres has asked the US Securities and Exchange Commission to provide clear rules for crypto instead of “indiscriminately” treating the majority of crypto assets as securities under its purview.  On Tuesday, Torres penned an open letter to SEC Chairman Gary Gensler, expressing his discontent with the agency’s failure to issue clear guidance to the cryptocurrency industry…. Read More: SEC Urged…
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Turkish Court Sentences Founder of Defunct Crypto Exchange Thodex to More Than 7 Months in Prison

July 20, 2023

A Turkish court has sentenced Faruk Fatih Özer, the founder of the collapsed cryptocurrency exchange Thodex, to an effective seven months and 15 days in prison. During the trial, Özer denied being an executive of the crypto exchange when the platform allegedly failed to furnish the Tax Inspection Board with the documents requested. Appointment of…
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Today in Crypto: Ankr and Matter Labs Launch zkSync Era Nodes & Hyperchain on Microsoft Azure Marketplace, Societe Generale-FORGE Gets First French Crypto Licence, Bitdeer Sits in 2nd-Highest Place in VanEck Crypto & Blockchain ETF

July 20, 2023

Get your daily, bite-sized digest of cryptoasset and blockchain-related news – investigating the stories flying under the radar of today’s crypto news.__________… Read More: Today in Crypto: Ankr and Matter Labs Launch zkSync Era Nodes & Hyperchain on Microsoft Azure Marketplace, Societe Generale-FORGE Gets First French Crypto Licence, Bitdeer Sits in 2nd-Highest Place in VanEck…
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No impact from Ripple ruling? SEC chair cites risks from crypto in budget request

July 20, 2023

Gary Gensler cited the “Wild West of the crypto markets” that was “rife with noncompliance” in requesting more than $2.4 billion for the commission’s 2024 fiscal budget. United States Securities and Exchange Commission (SEC) Chair Gary Gensler has called for “new tools, expertise, and resources” aimed at addressing misconduct in the crypto space in the…
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US Presidential Candidate Robert Kennedy Jr Unveils Plan to Back US Dollar With Bitcoin

July 20, 2023

U.S. presidential candidate Robert F. Kennedy Jr. (RFK Jr.) has unveiled two new reforms for bitcoin if he is elected president. He plans to back the U.S. dollar with the cryptocurrency and eliminate capital gains taxes on the conversion of bitcoin to USD. RFK Jr. stressed that his administration’s mission is to make America “the…
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Multiple spot crypto ETF applications go to Federal Register in step toward SEC approval

July 19, 2023

Publishing the ETF applications in the official journal of the U.S. government gives the SEC up to 240 days — until March 2024 — for final approval or denial. Spot Bitcoin exchange-traded fund (ETF) applications from several firms have been published in the Federal Register, moving them one step along in the United States Securities and…
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Australia’s financial regulator cancels license for FTX’s local entity

July 19, 2023

ASIC had previously suspended FTX’s license to operate in Australia; now the securities regulator has canceled it entirely. The Australian financial services regulator has finally canceled the financial license of FTX Australia, the bankrupt crypto exchange’s local subsidiary.  On July 19, the Australian Securities and Investments Commission announced the cancellation, which took effect July 14.…
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US Lawmakers Call on SEC to Stop Regulatory Assault on Crypto Following XRP Ruling

July 19, 2023

U.S. lawmakers have called on the U.S. Securities and Exchange Commission (SEC) to drop its regulatory assault on the crypto industry following the landmark ruling on the SEC v. Ripple case regarding XRP. “The SEC has chosen to communicate and regulate not by clear rule or guidance but by enforcement actions, often politically timed,” one…
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Nevada court approves regulator’s petition to place Prime Trust into receivership, pending hearing

July 19, 2023

Prime Trust will have the opportunity to show why a petition from the Nevada Financial Institutions Division should not be permanently granted in an Aug. 22 hearing. The Eighth Judicial District Court of Nevada has granted a petition from the state’s Financial Institutions Division (NFID) placing crypto custodian Prime Trust into receivership, pending a hearing…
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SEC Chair Advocates Increased AI Use for Market Surveillance and Enforcement

July 19, 2023

U.S. Securities and Exchange Commission Chairman Gary Gensler says the SEC could benefit from making greater use of artificial intelligence (AI) in several areas, including enforcement and market surveillance. However, he also raised a number of concerns associated with AI, emphasizing that the regulator is currently developing rules to address AI-related challenges. Gary Gensler on…
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