SEC

The SEC postpones its decision on options trading for several Ethereum ETFs

September 25, 2024 1 min read

The U.S. Securities and Exchange Commission (SEC) has deferred its judgment regarding options trading for several spot Ethereum ETFs until November 2024. The postponement ensues after the SEC sanctioned options trading for BlackRock’s spot Bitcoin ETF, accompanied by stringent rules to mitigate market manipulation. The SEC has extended the deadlines for these funds to November 10 and 11, 2024, in accordance with Section 19(b)(2) of the Securities Exchange Act. In

The US SEC collects over $4.68 billion in crypto fines during 2024

September 10, 2024 1 min read

In 2024, the US Securities and Exchange Commission (SEC) has imposed $4.68 billion in fines on the crypto sector, representing a 3,018% rise from the prior year. This signifies a transition towards impactful enforcement measures in the cryptocurrency sector, focusing on cases that establish important precedents for the industry. The SEC asserts that these penalties are integral to its comprehensive initiatives to enforce compliance, safeguard investors, and promote transparency in

Ripple’s legal battle with the SEC persists as the agency considers an appeal

September 9, 2024 1 min read

The legal conflict between Ripple and the US Securities and Exchange Commission (SEC) persists, notwithstanding a pivotal order by Judge Analisa Torres on August 7. Ripple requested an extension for the $125 million penalty for breaching securities regulations, originally scheduled for payment by September 6. The SEC is currently assessing the possibility of contesting the order, and legal commentator Fred Rispoli posits that compelling Ripple to make a payment at

The US SEC raises objections to FTX’s bankruptcy plan, citing legal concerns

September 3, 2024 1 min read

The U.S. Securities and Exchange Commission (SEC) has raised concerns regarding FTX’s proposed bankruptcy restructuring plan, despite receiving significant support from creditors. The SEC may raise objections to the ratification of the proposal unless certain adjustments are implemented, which represents a substantial obstacle for the ailing cryptocurrency exchange. Additionally, the SEC has demanded the removal of the discharge provision and offered additional modifications to the plan and the proposed confirmation

The SEC has issued a warning about FTX’s plans to use stablecoins and other crypto assets

September 2, 2024 1 min read

The US Securities and Exchange Commission (SEC) has warned FTX exchange about its strategy for repaying creditors, suggesting a possible objection to using stablecoins or other crypto assets. The SEC’s filing to the Delaware Bankruptcy Court highlights issues with FTX’s proposed use of stablecoins, particularly if they involve cryptocurrency assets. The agency has reserved the right to contest their use, particularly if they involve cryptocurrency assets. The SEC has also

Mango Markets DAO proposes a $224 settlement with the SEC

August 22, 2024 1 min read

Mango Markets, a decentralized exchange (DEX) on Solana, is set to pay a $223,228 penalty to the SEC as part of a settlement proposal to avoid further legal issues. The proposal includes halting all sales of MNGO tokens, destroying the DAO’s remaining MNGO holdings, and requesting the removal of MNGO from all crypto exchanges and platforms where it is currently traded. The governance proposal is expected to pass unanimously, with

The SEC’s concerns about Solana’s security status have delayed potential ETF approvals

August 20, 2024 2 mins read

The U.S. Securities and Exchange Commission (SEC) has classified Solana (SOL) as a possible securities, which has impeded the launch of SOL ETFs. As a result, the Chicago Board Options Exchange (Cboe) has withdrawn the necessary 19b-4 forms from its website, causing a delay in the certification process. The SEC concerns have resulted in the withdrawal of VanEck and 21Shares’ 19b-4 forms, which are crucial documentation for the listing of

The SEC plans to appeal a court ruling on Ripple’s XRP sales

August 9, 2024 1 min read

The US Securities and Exchange Commission (SEC) intends to challenge a court decision that ruled against Ripple Labs in relation to the categorization of XRP sales. The SEC intends to contest the ruling that classifies the secondary market sales of XRP as non-securities, potentially influencing the regulatory framework for crypto. The appeal is a response to a partial summary decision issued by Judge Analisa Torres in 2023. The SEC contends

Marc Fagel warns against excessive optimism over a potential Ripple (XRP) settlement

July 27, 2024 1 min read

Former Securities and Exchange Commission (SEC) attorney Marc Fagel has advised against being overly optimistic about the possibility of reaching an agreement in the continuing legal dispute between the SEC and Ripple Labs. The US SEC just rescheduled a private meeting, igniting renewed optimism among the XRP community for a resolution. Nevertheless, Fagel pointed out the absence of definitive proof to substantiate this perspective, noting that it is improbable to

The SEC faces setbacks but continues its aggressive crackdown on the crypto industry

July 12, 2024 2 mins read

The Securities and Exchange Commission (SEC) has faced numerous legal challenges, including a court sanction in Utah, during its tenure as chairman. Gary Gensler, who became SEC chairman in 2021, initially aimed to crack down on the crypto industry but quickly showed skepticism towards it. During his tenure, the SEC filed numerous lawsuits against major players like Coinbase, Binance, and Terraform Labs. While the SEC has won or settled several

Bloomberg analyst Eric Balchunas extends the deadline for Ethereum Spot ETF launch

July 1, 2024 2 mins read

Eric Balchunas, an analyst at Bloomberg, has updated his estimated schedule for the introduction of Ethereum Spot ETFs in the United States. This revision comes in response to recent statements made by the US SEC on the second wave of S-1 form submissions. In May, the SEC granted approval for the 19b-4 applications submitted by eight potential issuers of the Ethereum spot ETF. This approval is the initial stage in

The Nigerian SEC launches a 30-day program to accelerate VASP registration

June 22, 2024 1 min read

The Nigerian Securities and Exchange Commission (SEC) has introduced a new initiative to expedite the registration process for Virtual Asset Service Providers (VASP) to improve the regulatory framework for the crypto market. The SEC raised VASP registration fees from 30 million naira ($20,161) to 150 million naira ($100,806) in March, aiming to enhance financial stability among VASPs. The Accelerated Regulatory Incubation Program (ARIP) was introduced on June 21, providing a