Ripple’s CEO says the cryptocurrency industry is still seeking regulatory clarity from the U.S. Speaking with Bloomberg News Wednesday (July 17), Brad Garlinghouse said America lags behind other countries that have already adopted crypto regulations. “What we are seeing, where it’s the UK, Japan, Singapore … even the European Union, more than two dozen countries have come together to provide a
New spot ETFs for Ethereum—which will let investors purchase the second most popular cryptocurrency in the form of stocks— are expected to begin trading on Tuesday, July 23. The Securities and Exchange Commission has green lit at least three funds to enter the market that day, sources told Reuters, although it’s believed that a total
As the crypto industry continues its calls for regulatory clarity, a glaring question has been whether stablecoins, typically digital assets pegged to and backed by the U.S. dollar, should be treated as securities. Now, a decision by the Securities and Exchange Commission to quietly end a probe into the New York stablecoin issuer Paxos suggests
On Friday, the Securities and Exchange Commission brought its latest lawsuit against the crypto industry, this time targeting Consensys, a blockchain firm focused on the Ethereum network best known for its MetaMask wallet product. Echoing similar complaints brought against other crypto firms, such as Coinbase and Kraken, the SEC is alleging Consensys violated federal securities
The Commodity Futures Trading Commission is investigating the Chicago-based trading firm Jump’s involvement in crypto, including inquiries into its trading and investing activity, according to a person familiar with the matter. The probe, which is not evidence of wrongdoing, comes after a turbulent three years for Jump. The company is known for its expertise in
Terraform Labs and its former CEO Do Kwon have agreed to a settlement agreement with the U.S. Securities and Exchange Commission (SEC) that would see them forking over a combined $4.5 billion in disgorgement and civil penalties. The settlement agreement, which was filed Wednesday, would also permanently ban Kwon and Terraform Labs from buying and
A few days after the settlement cycle for U.S. securities returned to T+1—meaning “trading day plus one business day”—SEC Chair Gary Gensler called the conversion “historic,” saying the transition had gone “smoothly so far.” The move, he added, “will benefit investors and take risk out of the system.” Switching from T+2 is “win-win” for hedge
When Yida Gao returned to MIT in 2022, the former varsity pole vaulter and Phi Beta Kappa honoree had big shoes to fill. The prestigious university had asked him to teach a graduate course at the business school on crypto and finance, a position recently vacated by Securities and Exchange Commission chair Gary Gensler. Just
President Joe Biden has vetoed a resolution limiting the Securities and Exchange Commission’s (SEC) authority over the cryptocurrency sector. Biden announced the veto Friday (May 31) evening, saying that the legislation would have constrained regulators’ ability to put up guidelines for the crypto industry. “Appropriate guardrails that protect consumers and investors are necessary to harness
For those unfamiliar with cryptocurrency, this is a major milestone in Asia and across the world as it opens the road for adoption and investment in cryptocurrency, moving the asset class from niche to mainstream. Although the US allowed spot bitcoin ETFs in January, it only recently approved applications to list spot ether ETFs; a