SEC Chair Gary Gensler Insists Crypto Field Is ‘Rife With Abuses and Fraud’

SEC Chair Gary Gensler Insists Crypto Field Is 'Rife With Abuses and Fraud'U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has reiterated that the crypto industry is filled with instances of abuse and fraud, citing a significant number of bankruptcies in recent years. He also cautioned investors in spot bitcoin exchange-traded funds (ETFs) that these products are based on a “highly speculative volatile underlying asset: bitcoin.” […]

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Email Shows Digital Currency Group and Gemini Explored Merger Before Genesis Bankruptcy

Email Shows Digital Currency Group and Gemini Explored Merger Before Genesis BankruptcyIn an email found within the motion by Digital Currency Group (DCG) and Barry Silbert to dismiss the lawsuit initiated by the New York Attorney General, discussions of a potential merger between Gemini and Genesis were revealed before Genesis ultimately opted to declare bankruptcy. “Combined Gemini and Genesis would be a juggernaut and would be […]

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SEC Chair Gensler Cautions About Crypto Investing — Warns ‘Thousands’ of Crypto Tokens May Be Securities

SEC Chair Gensler Cautions About Crypto Investing — Warns 'Thousands' of Crypto Tokens May Be SecuritiesU.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has cautioned about crypto investing. “This is a highly speculative asset class. One could just look at the volatility of bitcoin in the last few days,” he stressed, warning that thousands of crypto tokens may be securities. Gary Gensler’s Crypto Investment Warning The chairman of the […]

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US Judge Backs SEC: Trading of Certain Cryptocurrencies on Secondary Markets Are Securities Transactions

US Judge Backs SEC: Trading of Certain Cryptocurrencies on Secondary Markets Are Securities TransactionsA U.S. district judge has sided with the Securities and Exchange Commission (SEC) in a ruling that declares the trading of certain crypto assets on secondary markets to be securities transactions. This decision emerged from an insider trading case involving crypto exchange Coinbase’s former product manager Ishan Wahi, his brother Nikhil Wahi, and their friend […]

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SEC Charges Shapeshift With Regulatory Violations, Sparking Debate on Crypto Regulation

SEC Charges Shapeshift With Regulatory Violations, Sparking Debate on Crypto RegulationThe U.S. Securities and Exchange Commission (SEC) has leveled charges against Shapeshift AG, accusing the company of operating without proper registration. This case has ignited a broader conversation on the regulatory framework for crypto assets, with SEC Commissioners Hester Peirce and Mark Uyeda voicing their dissent and concerns about the SEC’s current approach toward crypto […]

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House Financial Services Committee Advances Bill to Repeal SEC Bulletin Preventing Banks From Offering Crypto Custody Services

House Financial Services Committee Advances Bill to Repeal SEC Bulletin Preventing Banks From Offering Crypto Custody ServicesThe House Financial Services Committee of the U.S. Congress has advanced a resolution that seeks to disavow SEC SAB 121, a bulletin that leaves banks and financial institutions out of the cryptocurrency custody provider market. However, the resolution, advanced with bipartisan support, is unlikely to be passed at a vote on the House floor, according […]

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Chamber of Digital Commerce: SEC Actions ‘Pose Separation of Powers and Due Process Concerns’

Chamber of Digital Commerce: SEC Actions 'Pose Separation of Powers and Due Process Concerns'The Chamber of Digital Commerce, a Washington-based blockchain advocacy group, has filed an amicus curiae document on the SEC v Payward, Inc. (Kraken) case. The chamber argues that the actions of the SEC pose “separation of powers and due process” concerns and that digital assets are not inherently investment contracts. Chamber of Digital Commerce Slams […]

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Terraform Labs Founder Do Kwon Faces Extradition Delay in Montenegro Amid SEC Fraud Allegations

Terraform Labs Founder Do Kwon Faces Extradition Delay in Montenegro Amid SEC Fraud AllegationsDo Kwon, the embattled former CEO of Terraform Labs, is currently stranded in Montenegro due to extradition delays, following accusations by the U.S. Securities and Exchange Commission (SEC) of conducting a massive fraudulent crypto scheme. Last year, the SEC charged that from April 2018 to May 2022, Terraform and Kwon’s operations resulted in at least […]

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Crypto Exchange Kraken Shares ‘Real Story’ of SEC Lawsuit — Claims SEC Seeks ‘Boundless Authority’ Over Commerce

Crypto Exchange Kraken Shares 'Real Story' of SEC Lawsuit — Claims SEC Seeks 'Boundless Authority' Over CommerceCryptocurrency exchange Kraken has shared what it called “the real story” of the lawsuit against it by the U.S. Securities and Exchange Commission (SEC). Kraken also explained why it is moving to dismiss the case. “Crypto innovators in the United States should not have to fear retaliation for their political speech. They should be free […]

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Lejilex and Crypto Freedom Alliance of Texas Sue SEC for Unlawfully Targeting the Digital Asset Industry

Lejilex and Crypto Freedom Alliance of Texas Sue SEC for Unlawfully Targeting the Digital Asset IndustryLejilex and the Crypto Freedom Alliance of Texas, a crypto nonprofit, have teamed up to introduce a complaint against the actions of the SEC towards actors in the digital asset industry in America. The complaint alleges that the SEC has no regulatory powers over these crypto companies, having usurped functions not given to it by […]

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