The US Securities and Exchange Commission (SEC) Commissioner Hester Peirce has recently expressed ongoing concerns regarding the SEC’s Staff Accounting Bulletin No. 121 (SAB 121). In a response to a speech by SEC Chief Accountant Paul Munter, where he reiterated the Commission’s unchanged stance on SAB 121, Peirce highlighted her reservations about the regulation. Munter
Regulation
The US Securities and Exchange Commission (SEC) has been cracking down on crypto companies, imposing hefty fines in an attempt to regulate the rapidly growing digital asset market. According to a report by Social Capital Markets, the SEC imposed a record $4.68 billion in fines against crypto companies in 2024, making it the most aggressive
Recently, Robinhood’s crypto division agreed to pay a $3.9 million fine to settle a California investigation into its past practices. According to California Attorney General Rob Bonta, the settlement was reached after it was discovered that Robinhood Crypto prevented users from withdrawing their digital assets between 2018 and 2022. The company also failed to fully
The US Securities and Exchange Commission (SEC) recently charged and settled with hedge fund Galois Capital Management LLC over a private fund managed by the firm that primarily invested in crypto. The charges are related to Galois Capital allegedly failing to comply with client asset safeguarding requirements, particularly crypto assets that were categorized as securities.
The US Securities and Exchange Commission (SEC) Commissioner Mark T. Uyeda recently proposed the development of specialized S-1 registration forms tailored specifically for digital asset securities. During a speech at the Korea Blockchain Week 2024 event, Uyeda underscored the importance of updating regulatory tools to address the unique characteristics of digital assets. This article will
The recent filing by the US Securities and Exchange Commission (SEC) regarding the FTX bankruptcy case has raised significant concerns within the industry. The proposed repayment strategy, which involves using stablecoins or other digital assets to repay creditors, has prompted the SEC to reserve the right to challenge these transactions under federal securities laws. This
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
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