In an evolving political landscape, the Securities and Exchange Commission (SEC) has found itself at the center of a congressional investigation, igniting debates over the integrity of its hiring practices. Lawmakers, particularly from the Republican party, have raised alarms regarding potential politically motivated decisions that could undermine the SEC’s impartiality. This investigation raises important questions
Regulation
In a significant move amidst ongoing regulatory scrutiny, trading platform eToro has announced the suspension of trading for most digital assets on its platform. This announcement follows a settlement of $1.5 million with the U.S. Securities and Exchange Commission (SEC), which was released on September 12. The backdrop to this settlement involves an investigation that
The recent introduction of the Property (Digital Assets, etc.) Bill by the Law Commission of the United Kingdom (UK) Parliament has sparked conversations surrounding the legal recognition of digital holdings. This proposed legislation aims to classify crypto, non-fungible tokens (NFTs), and carbon credits as personal property under British law, marking a significant milestone in the
The rise of crypto scams, particularly the infamous “pig butchering” scheme, has prompted the Commodity Futures Trading Commission (CFTC) to take action. Collaborating with various federal and private organizations, the CFTC is aiming to combat these fraudulent activities that have resulted in billions of dollars in losses. The lack of awareness and understanding surrounding these
The Digital Chamber (TDC) has made a significant call to Congress, urging for legislation to define certain non-fungible tokens (NFTs) as consumer goods rather than financial products subject to federal securities laws. This move comes in response to the growing concerns surrounding recent Securities and Exchange Commission (SEC) enforcement actions, specifically targeting NFT platforms like
US Securities and Exchange Commission (SEC) Commissioner Hester Peirce has been vocal about her concerns regarding the SEC’s Staff Accounting Bulletin No. 121 (SAB 121). Following a speech by SEC Chief Accountant Paul Munter affirming the Commission’s stance on SAB 121, Peirce expressed her reservations. She believes that the content and process of SAB 121
The US Securities and Exchange Commission (SEC) has taken a hard stance against crypto companies, imposing a staggering $4.68 billion in fines in 2024. This marks a significant increase from previous years, with the total fines reaching $7.42 billion since 2013. The SEC’s crackdown on the crypto sector reflects its commitment to enforcing securities regulations
Robinhood’s crypto division has recently agreed to pay a hefty fine of $3.9 million as a settlement in response to a California investigation into its past practices. The California Attorney General, Rob Bonta, revealed that the investigation was initiated due to Robinhood Crypto’s actions of preventing users from withdrawing their digital assets between 2018 and
Recently, the US Securities and Exchange Commission (SEC) charged and settled with hedge fund Galois Capital Management LLC regarding a private fund managed by the firm that primarily invested in cryptocurrency. The SEC accused Galois Capital of failing to comply with client asset safeguarding requirements, particularly with regards to crypto assets that were labeled as
Digital asset securities have been gaining traction in the financial industry, presenting unique challenges for regulators like the US Securities and Exchange Commission (SEC). In a recent address at the Korea Blockchain Week 2024 event, SEC Commissioner Mark T. Uyeda called for the development of specialized S-1 registration forms tailored specifically for digital asset securities.