SEC Commissioner Hester Peirce has expressed ongoing concerns regarding the SEC’s Staff Accounting Bulletin No. 121 (SAB 121). In response to a speech by SEC Chief Accountant Paul Munter affirming the Commission’s stance on SAB 121, Peirce reiterated her reservations. She questioned both the content and process of the regulation, underscoring the need for a
Regulation
In 2024, the US Securities and Exchange Commission (SEC) set a new record by imposing fines totaling $4.68 billion against cryptocurrency companies. This marked a significant escalation in the agency’s regulatory actions, with the total amount of fines levied since 2013 reaching $7.42 billion. The spike in fines in 2024 accounted for 63% of the
Recently, Robinhood’s crypto division agreed to pay a $3.9 million fine, settling a California investigation into its past practices. The investigation revealed that Robinhood Crypto prevented users from withdrawing their digital assets from 2018 to 2022. Additionally, the company failed to fully disclose details about its trading and order-handling processes. The investigation also found that
The US Securities and Exchange Commission (SEC) recently charged and settled with hedge fund Galois Capital Management LLC over a private fund that primarily invested in cryptocurrency. The SEC alleges that Galois Capital failed to comply with client asset safeguarding requirements, particularly with crypto assets labeled as securities. As a result, Galois Capital agreed to
The US Securities and Exchange Commission (SEC) Commissioner, Mark T. Uyeda, recently highlighted the importance of developing specialized S-1 registration forms specifically tailored for digital asset securities. During a talk at the Korea Blockchain Week 2024 event, Uyeda emphasized the need to update the SEC’s regulatory tools to address the unique characteristics of digital assets.
The US Securities and Exchange Commission (SEC) has recently voiced its concerns over the proposed repayment strategy in the ongoing FTX bankruptcy case. The plan, which involves repaying creditors through stablecoins or other digital assets, has raised red flags for the SEC. The commission has stated its reservation to challenge these transactions under federal securities
Congressman Wiley Nickel (D-NC) has recently taken a firm stance against the US Securities and Exchange Commission (SEC), accusing the agency of eroding trust in the regulatory system with its “regulation by enforcement” approach. His criticism highlights the detrimental impact of the SEC’s methods on digital innovation in the United States. Nickel’s vocal support for
Telegram CEO Pavel Durov has recently been released from prison but placed under judicial supervision with strict conditions. This includes the deposit of a €5 million bond and a prohibition from leaving French territory. Durov must also report to the police station twice a week as part of his bond conditions. The Paris Judicial Court
The US Securities and Exchange Commission (SEC) recently emphasized the crucial need for retail investors to have more timely access to fund portfolio data. This data is vital for making informed investment decisions, especially during market uncertainties such as the COVID-19 pandemic and geopolitical events. Currently, the regulatory framework requires registered investment companies to provide
The United Kingdom’s attractiveness to crypto firms has been on the decline in recent years, with many companies turning away due to burdensome and time-consuming regulatory processes. According to a report by the Financial Times, registrations for crypto asset exchanges and custodian wallet providers with the UK’s Financial Conduct Authority (FCA) have decreased by more