President Joe Biden Will Veto Legislation Allowing Financial Firms to Custody Bitcoin: White House
The Executive Office of President Biden opposes legislation allowing financial firms to act as cryptocurrencies custodians, protecting SEC's work and investors. [ more ]
Senate Passes Bill to Overturn SEC Rule on Bitcoin And Crypto Custody, Biden Threatens Veto
Senate passed legislation to overturn SEC's SAB 121, enabling highly regulated financial firms to custody cryptocurrencies despite potential veto by President Biden. [ more ]
Consensys, a Target for the SEC's Assault on ETH, Is Fighting Back
Consensys and other crypto companies are pushing back against what they perceive as overzealous regulatory actions, with lawsuits and challenges being pursued. [ more ]
The cryptocurrency industry has long complained about a lack of legal clarity from regulators regarding digital assets.
Prometheum's decision to custody ETH as its first digital asset raises questions about compliance with the SEC and the classification of ether. [ more ]
The SEC approved 11 spot bitcoin ETFs, leading to record-breaking Day 1 trades of over $4.6B.
Regulatory scrutiny and enforcement in the crypto industry have increased, leading to the maturation of the industry and more cautious projects. [ more ]
SEC chair: Existing financial law can be applied to AI regulatory debate
The SEC may have a role in regulating AI based on existing securities law, particularly in relation to AI-based financial tools and brokers in an automated trading environment.
The SEC believes that investment firms using AI models should abide by basic disclosures and put in place guardrails to protect investors, such as testing AI models to minimize risks and prohibiting illegal investment strategies. [ more ]
Does the SAB 121 Vote Mean Anything for Future Crypto Legislation?
The U.S. Senate and House of Representatives voted to repeal the burdensome SEC accounting rule, SAB 121, reflecting a shift in crypto and banking industry opposition. [ more ]
Supreme Court turns away Elon Musk's appeal to toss SEC settlement over Tesla tweets
The US Supreme Court declined to hear Elon Musk's appeal regarding a securities fraud settlement, upholding restrictions on his public statements about Tesla. [ more ]
Spot Ether ETF Applications Decisions Delayed by SEC
The U.S. SEC has delayed the applications of Grayscale Investments and BlackRock to convert their Ethereum trust products into ETFs.
The SEC has traditionally been opposed to spot crypto ETFs, and it is unclear whether the applications have progressed to the stage of addressing questions from the regulator. [ more ]
The SEC approved 11 Bitcoin spot ETFs, leading to a surge of global investors and marking the crossover between traditional finance and digital assets.
The approval of the Bitcoin ETF is a milestone for the crypto industry, but some early crypto investors still have reservations. [ more ]
Is Cryptocurrency Like Stocks and Bonds? Courts Move Closer to an Answer.
The legal battles between the US Securities and Exchange Commission (SEC) and crypto companies could determine the future of the multitrillion-dollar crypto industry in the US.
The outcome of the lawsuits against crypto exchanges Coinbase and Binance will be key in defining the regulatory framework for digital currencies in the US. [ more ]
Senator: Data broker tracked visits to Planned Parenthood
Pro-life group targeted Planned Parenthood visitors with anti-abortion ads using location data from Near Intelligence.
US Senator Ron Wyden is urging the FTC and SEC to investigate Near and ensure the prompt destruction of all location data it holds on Americans. [ more ]
Biden veto waiting for bill to kill SEC breach report rule
The Biden administration strongly opposes undoing the SEC's data breach reporting rule.
The lack of transparency about cyber incidents is fueling increasing cyberattacks and greater transparency will incentivize corporate executives to invest in cybersecurity. [ more ]
The Morning Ledger: SEC Wants Some Banks to Disclose More on Commercial Real-Estate Exposure
The Securities and Exchange Commission is questioning community and regional banks about their exposure to commercial real estate, as potential losses on the loans could lead to further cut lending.
Banks are facing scrutiny around the effects of the commercial real estate credit crunch, which threatens the financial system. [ more ]
How to Stop Your X Account From Getting Hacked Like the SEC's
The SEC and Mandiant both experienced account takeovers on social media platforms due to vulnerabilities in their security practices.
Both accounts had two-factor authentication (2FA) disabled at the time of the breaches, highlighting the importance of using this security measure. [ more ]