Congressman Wiley Nickel (D-NC) has recently come out with strong criticism against the US Securities and Exchange Commission (SEC), accusing the agency of undermining trust in the regulatory system. He has labeled the SEC’s approach as “regulation by enforcement”, which he believes is a blatant abuse of power that has the potential to stifle digital
Regulation
Recently, Telegram CEO Pavel Durov found himself embroiled in legal troubles in France. Durov was released from prison under judicial supervision after being charged with six offenses, including “complicity in the management of an online platform allowing illegal transactions in an organized gang,” money laundering, and refusal to provide information to authorities. As part of
The US Securities and Exchange Commission (SEC) has expressed the need for retail investors to have more timely access to fund portfolio data. Currently, registered investment companies are required to provide periodic portfolio holdings data to the Commission and investors. However, this data is often delayed, impacting millions of US households and leaving investors with
Recent reports suggest that crypto firms are turning away from the UK due to the burdensome and time-consuming regulatory processes. The Financial Times highlights a significant decrease in registrations for crypto asset exchanges and custodian wallet providers with the UK’s Financial Conduct Authority (FCA). A Freedom of Information (FOI) request by law firm Reed Smith
The Nigerian Securities and Exchange Commission (SEC) recently announced that two local crypto exchanges, Busha Digital Limited and Quidax, have been granted “Approval-in-Principle” to commence operations under the Accelerated Regulatory Incubation Program (ARIP). This initiative was established in anticipation of the release of the Rules on Virtual Asset Service Providers in May 2022, reflecting the
Recently, OpenSea CEO Devin Finzer made waves in the NFT community by announcing that the company had received a Wells Notice from the US Securities and Exchange Commission (SEC). The SEC’s contention that NFTs on the platform should be treated as securities has stirred up a significant amount of controversy within the industry. Finzer expressed
The US Securities and Exchange Commission (SEC) recently took legal action against crypto lending firm Abra for its failure to register its crypto asset lending product, Abra Earn. The company also faced charges for operating as an unregistered investment company. Stacy Bogert, Associate Director of the SEC’s Division of Enforcement, expressed concerns about Abra’s actions,
France has long been considered a desirable location for crypto businesses to establish their base of operations. With favorable tax rates, access to a talented pool of individuals, and a supportive environment for innovation, France has attracted major players in the crypto industry such as Binance, Crypto.com, and Circle. However, recent developments have highlighted the
The European Union is home to a fragmented regulatory structure that is stifling artificial intelligence (AI) innovation, according to Meta CEO Mark Zuckerberg and Spotify CEO Daniel Ek. In a joint statement, the tech leaders criticized the EU’s AI regulatory framework for being riddled with inconsistent implementation. They noted that these inconsistencies are hampering the
The DeFi Education Fund and the Blockchain Association recently submitted an amicus brief in support of a legal challenge against the Securities and Exchange Commission’s (SEC) Consolidated Audit Trail (CAT). The brief raised concerns about the significant privacy and security risks posed by the CAT, particularly for participants in the digital asset market. The CAT,