Representative Stephen Lynch voiced concerns about the direction of the SEC under Donald Trump, citing dropped investigations and enforcement actions on crypto companies. Source link
SEC is no longer a 'cop on the beat‘ on crypto, says US lawmaker
Tag: SEC
Mike Selig: CFTC and SEC collaboration marks a regulatory shift, Project Crypto aims for unified definitions, and blockchain enables self-custody
Key Takeaways The CFTC and SEC are working together to create a unified regulatory framework for crypto. Project Crypto aims to align definitions and regulatory philosophies between the CFTC and SEC. The distinct roles of the CFTC and SEC are crucial for managing different financial market aspects. Tailored regulatory approaches are necessary for technologies like AI and crypto. Blockchain technology offers self-custody and censorship-resistant asset management. Derivatives are key financial instruments for risk management and speculation. The previous lack of a regulatory framework led to rapid product development in the…
SEC Top Enforcer Clashed Over Trump Cases Before Resigning
The US Securities and Exchange Commission’s former top enforcement official reportedly clashed with the regulator’s top brass before resigning last week, with part of the reason being how the agency handled cases involving those close to US President Donald Trump. Margaret Ryan, the ex-director of the SEC’s Division of Enforcement, wanted to pursue fraud and other charges in cases involving those in Trump’s orbit, but was resisted by SEC Chair Paul Atkins and other Republican political appointees, Reuters reported on Monday, citing people familiar with the matter. Two cases that…
SEC Sends Proposed Crypto Interpretation to White House for Review
The financial regulator’s plan to reinterpret how federal securities laws apply to crypto assets is ”pending review” by the White House’s Office of Management and Budget. The US Securities and Exchange Commission (SEC) has forwarded its proposal to have most crypto assets not treated as securities under federal law to the White House’s Office of Management and Budget. According to information available through the US General Services Administration, on Friday the SEC sent two proposed rules to the White House for review, including its interpretative notice from last week regarding…
Fidelity Requests More Clarity From SEC on Tokenized Assets and DeFi
Fidelity Investments told the US Securities and Exchange Commission (SEC) on Friday that it should continue to develop the regulatory framework for broker-dealers to offer, custody and trade crypto assets on alternative trading systems (ATS). The letter from the US’ third-largest asset manager was in reply to a call for comments earlier this month by the regulator’s Crypto Task Force. Fidelity said it is “critical” for the SEC to develop a comprehensive regulatory framework and clear rules of the road for tokenized securities trading, including rules for trading tokenized securities…
SEC Crypto Guidance Is a Major Step, but More Is Needed: Analyst
The recent guidance from the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission establishing a taxonomy for digital assets put a “final nail” in the coffin of SEC policy under former Chairman Gary Gensler, according to Alex Thorn, the head of firmwide research at investment firm Galaxy. The SEC guidance, published on Tuesday, established a taxonomy for digital assets, dividing them into five categories, including digital commodities, digital collectibles like non-fungible tokens (NFTs), digital tools, stablecoins, and tokenized securities. The SEC guidance published on Tuesday…
Morgan Stanley Pushes Closer to Bitcoin ETF With Amended SEC Filing
US investment bank Morgan Stanley filed a second amended S-1 for its proposed spot Bitcoin exchange-traded fund (ETF), detailing seed capital, trading partners and listing plans as the Wall Street bank moves closer to launching the product under the ticker MSBT. The amended filing says the trust expects to raise $1 million through the sale of 50,000 initial seed shares to its delegated sponsor ahead of listing on NYSE Arca, then use the proceeds to buy Bitcoin (BTC) for the fund. Morgan Stanley said the fund remains subject to regulatory…
SEC Interpretation on Crypto Laws ‘a Beginning, Not an End,‘ Says Atkins
US Securities and Exchange Commission (SEC) Chair Paul Atkins has clarified how the agency intends to approach digital asset regulation following an interpretative notice issued this week. In prepared remarks for a Thursday speech at the Practising Law Institute, Atkins said that the SEC would take a different approach to digital assets than its previous “regulation by enforcement” campaign. According to the SEC chair, the agency would first focus on its interpretation of how federal securities laws apply to crypto following the signing of a memorandum of understanding with the…
XRP treasury Evernorth files with SEC to advance Nasdaq listing plan
Evernorth Holdings, backed by Ripple executives, is advancing its plan to become the largest public XRP treasury on Nasdaq. The company on Wednesday filed a registration statement with the SEC in connection with its proposed merger with Nasdaq-listed SPAC Armada Acquisition Corp. II., a blank-check company sponsored by Arrington XRP Capital. Evernorth aims to create a publicly traded company to provide investors with regulated exposure to XRP through active treasury management strategies, including lending, decentralized finance participation, and liquidity provisioning. The company has raised over $1 billion in gross proceeds…
Evernorth Moves Closer to Nasdaq Public Listing after SEC Filing
XRP digital asset treasury Evernorth has submitted a key filing with the SEC, putting it a step closer to its goal of going public on the Nasdaq stock exchange. The Ripple Labs-backed firm announced plans to go public in October as part of a merger with special purpose acquisition company (SPAC) Armada Acquisition Corp. II (Armada II). In a statement on Wednesday, Evernorth announced that it had filed a Form S-4 registration statement with the US Securities and Exchange Commission (SEC), marking the final major regulatory hurdle before launching via…