Thе Bаnk of Nеw York Mеllon (BNY), one of the world’s largest and oldest financial institutions, has received the green light from the U.S. Securities and Exchange Commission (SEC) to offer cryptocurrency custody services beyond the realm of Exchange-Traded Funds (ETFs). This marks a significant advancement for the integration of ... Read more
According to Chair Gary Gensler, speaking at the U.S. Treasury Market Conference on September 26, the U.S. Securities and Exchange Commission is going to retroactively redefine what constitutes an “exchange” and, for that matter, an alternate trading system. The comments came from a session entitled “From Hamilton to Yellen,” in ... Read more
In a letter addressed to SEC Chair Gary Gensler, over 40 United States Republicans have urged the Securities and Exchange Commission (SEC) to rescind its Staff Accounting Bulletin No. 121 (SAB 121). This push comes after bipartisan support for a repeal bill was met with a veto, sparking renewed calls ... Read more
A Texas federal court has dismissed the lawsuit filed by Consensys, a blockchain development firm, against the Securities and Exchange Commission (SEC) and its five commissioners, including Chair Gary Gensler. The company initiated the lawsuit in April 2024 to combat what it described as the SEC’s regulatory overreach regarding Ethereum. ... Read more
On September 18, a significant hearing will focus on the U.S. SEC’s approach to regulating crypto assets. The House Subcommittee on Digital Assets, Financial Technology, and Inclusion will hold this hearing, aptly named “Dazed and Confused: Breaking Down the SEC’s Politicized Approach to Digital Assets,” at 10:00 a.m. in the ... Read more
Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), finds himself under scrutiny from prominent Republican lawmakers including Jim Jordan, Patrick McHenry, and James Comer. The trio is investigating claims that Gensler may have engaged in politically biased hiring practices at the agency, potentially violating the Civil Service Reform ... Read more
eToro will halt trading for most cryptocurrencies after settling with the U.S. SEC, agreeing to pay a $1.5 million penalty.The SEC accused eToro of operating as an unregistered broker and clearing agency for crypto assets classified as securities. In a significant regulatory move, the stock trading platform eToro is set ... Read more
The U.S. Securities and Exchange Commission (SEC) has issued a Galois Capital Management LLC Florida crypto asset investment advisory firm a civil penalty of $225,000. This action follows Galois’s noncompliance with the necessary regulations to ensure the protection of the customer’s assets and the firm’s misleading statements about the redemption ... Read more
The United States Securities and Exchange Commission (SEC) has recently issued a cautionary statement regarding the potential repayment of creditors by the now-bankrupt cryptocurrency exchange, FTX. The warning centers around FTX’s consideration of using stablecoins as a medium for returning funds to its creditors. The SEC’s concerns were made public ... Read more
In a recent statement, Devin Finzer, Co-founder and CEO of OpenSea, revealed that the company has been hit with a Wells notice from the Securities and Exchange Commission (SEC), signaling a potential lawsuit. The SEC’s move, which argues that NFTs traded on OpenSea might be classified as securities, has stunned ... Read more
