US SEC

Coinbase and the SEC face off in court as the crypto exchange demands clearer regulations

September 24, 2024 1 min read

Coinbase and the SEC are engaged in a federal court fight on the formulation of new regulations for the digital asset sector. Coinbase asserts that the SEC has failed to furnish explicit rules for enterprises within the Bitcoin sector, notwithstanding its persistent counsel to “come in and register.” Paul Grewal, Coinbase’s chief legal officer, articulated his dissatisfaction with the SEC’s rejection and its vigorous enforcement of ambiguous regulations. The SEC

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

SEC Chair Gensler Warns of Crypto Risks: What It Means for Investors

July 19, 2024 1 min read

Gary Gensler, the Chairman of the US Securities and Exchange Commission (SEC), recently released a cautionary statement on social media regarding cryptocurrencies. He specifically drew attention to the growing popularity of meme coins such as Dogecoin, Shiba Inu, and PEPE, which are sponsored by celebrities. Gensler questioned the SEC’s intentional tactic of issuing warnings during important crypto legislative discussions in Congress. Gensler’s position has provoked criticism from the crypto industry,

Coinbase narrows subpoena for SEC Chair Gensler’s emails to his time as chair

July 16, 2024 2 mins read

Coinbase has withdrawn its subpoena directed at SEC Chair Gary Gensler, specifically targeting information pertaining to his tenure as the head of the regulatory agency. The decision is made in response to the New York judge’s concerns on the extensive nature of the request, which encompassed utterances about cryptocurrency dating back to 2017. The lawyer for Coinbase clarified that the subpoena has been limited to solely encompassing papers from Gary

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

Ripple Labs fights a $2B US SEC fine, arguing for a reduced penalty by citing the Terraform case

June 17, 2024 1 min read

Ripple Labs Inc. is now engaged in a legal dispute with the US SEC over a proposed fine of $2 billion. The company is contending that the appropriate penalty should be lower, about $10 million. The company cites Terraform Labs’ $4.5 billion settlement as a point of reference, contending that the SEC’s penalty encompassed a substantial monetary fine and a prohibition on co-founder Kwon Do-hyung from assuming certain corporate positions.

US SEC Chairman hints that the agency may be dragging its feet in approving spot Ether ETFs

June 6, 2024 1 min read

Chair Gary Gensler of the US Securities and Exchange Commission (SEC) has suggested that the final authorizations for asset managers to provide Ethereum exchange-traded funds (ETFs) for immediate purchase and sale on exchanges could experience a delay. Gensler said that the SEC may be delaying the approval of spot Ether ETFs, maybe because the commission is taking its time to approve S-1 registration statements. Although the SEC authorized the 19b-4

A U.S. judge has ordered the US SEC to pay $1.8 million in legal fees to Debt Box

May 30, 2024 1 min read

A federal court ordered the SEC to pay Debt Box $1.8 million in legal expenses. The SEC filed a lawsuit against Debt Box in July 2023, setting off a rocky relationship. The SEC charged Debt Box with regulatory violations in July 2023. The presiding judge swiftly criticized the SEC’s strategy. The court criticized the SEC’s treatment of the temporary restraining order in March. The debt box was managed by a

The US SEC has asked Nasdaq and Cboe to revise their Ethereum ETF proposals

May 23, 2024 1 min read

Nasdaq and Cboe have been urged by the US SEC to alter their spot Ethereum ETF plans. This request is vital to the regulatory review process and shows the SEC’s commitment to ensuring certain financial products fulfill requirements. Grayscale, BlackRock, Vaneck, 21Shares, Ark Invest, Hashdex, Invesco, Galaxy, Fidelity, Franklin Templeton, and Bitwise await SEC approval of their ETF applications. Market speculation has grown, with Bloomberg experts like James Seyffart upping

The SEC’s decision this week on spot Ethereum ETFs will significantly impact the crypto market

May 20, 2024 2 mins read

This week, the SEC will decide whether to allow or reject spot Ethereum ETFs. This move has drawn attention from prominent investing companies. The SEC’s VanEck application deadline is May 23, followed by Cathie Wood’s ARK Invest and 21Shares proposals the following day. BlackRock, Fidelity, Bitwise, Galaxy Digital, Franklin Templeton, and Hashdex are also interested in launching a spot Ethereum ETF. Most industry analysts expect the SEC to reject these

The US SEC urges court to dismiss Coinbase’s appeal in a heated crypto regulation dispute

May 13, 2024 1 min read

In a court brief submitted on Friday, the Securities and Exchange Commission (SEC) formally petitioned a judge to reject Coinbase’s request for an early appeal. The legal dispute between Coinbase and the SEC started around one year ago, when the SEC accused Coinbase of engaging in illicit operations without proper registration and contravening securities laws via its Staking business. The SEC’s brief argues that Coinbase’s dissatisfaction with the first rejection