US Securities and Exchange Commission (SEC) Commissioner Hester Peirce has been vocal about her 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 on Sept. 9, where Munter reaffirmed the SEC’s unchanged stance on SAB 121, Peirce reiterated her apprehensions
Regulation
In 2024, the US Securities and Exchange Commission (SEC) made headlines by imposing a staggering $4.68 billion in fines against various crypto companies. This marked a significant increase from previous years and indicated a more aggressive regulatory approach by the agency. According to a report by Social Capital Markets, the total fines imposed by the
The Digital Chamber (TDC) has recently made a plea to Congress to pass legislation that would categorize certain non-fungible tokens (NFTs) as consumer goods rather than subjecting them to federal securities laws. This request comes in the wake of increased scrutiny from the Securities and Exchange Commission (SEC), particularly through actions taken against NFT marketplace
In a controversial move, North Carolina legislators have successfully overturned Governor Roy Cooper’s veto on a bill that would have prohibited the state from implementing a central bank digital currency (CBDC). The Republican-dominated Senate’s approval of House Bill 690 with a 27-17 vote signals a decisive victory in the ongoing battle over the future of
Recently, the Federal Reserve issued a cease and desist order to United Texas Bank (UTB) on August 29, 2023. This order came after an examination conducted by the Federal Reserve Bank of Dallas and the Texas Department of Banking earlier in May of the same year. The examination revealed alleged deficiencies in the bank’s corporate
The recent revelation by Coinbase CFO Alesia Haas regarding Vice President Kamala Harris’s campaign using Coinbase Commerce to accept crypto donations has sparked interest and raised questions about the intersection of politics and the cryptocurrency industry. This development provides insights into the evolving landscape of fundraising and the increasing acceptance of digital assets in mainstream
Robinhood’s cryptocurrency division has recently agreed to pay a $3.9 million fine to settle a California investigation into its past practices. California Attorney General Rob Bonta stated that the settlement was reached after Robinhood Crypto prevented users from withdrawing their digital assets from 2018 to 2022. It was also found that the company failed to
Recently, the US Securities and Exchange Commission (SEC) charged and settled with Galois Capital Management LLC, a hedge fund that managed a private fund primarily investing in crypto assets. The charges stemmed from Galois Capital’s failure to comply with client asset safeguarding requirements, particularly concerning crypto assets labeled as securities by the SEC. As a
The US Securities and Exchange Commission (SEC) Commissioner Mark T. Uyeda recently addressed the need for specialized S-1 registration forms tailored specifically for digital asset securities. This call for updating regulatory tools comes in light of the unique features and complexities of digital assets that may not be adequately captured by current standard forms. During
Congressman Wiley Nickel from North Carolina has recently taken a stand against the US Securities and Exchange Commission (SEC), criticizing the agency for what he calls a “regulation by enforcement” approach. Nickel believes that this method undermines trust in the regulatory system and poses a threat to digital innovation in the United States. Nickel has