Accounting firms could face accountability for clients’ misleading statements on audits and transparency. The SEC issues a strong warning to accounting firms on July 27, highlighting the potential risks and liabilities associated with serving clients in the rapidly evolving crypto industry. Paul Munter, Chief Accountant to the SEC, points out that some crypto companies have…
Canadian regulators are considering changes to how institutions handle risks associated with cryptocurrencies. The Office of the Superintendent of Financial Institutions (OSFI) proposed new rules to streamline the capital and liquidity approach for crypto assets. They outlined four categories of digital assets and their respective capital treatment. The proposed guidelines are aimed at aligning with…
The district court has extended the deadlines for dismissing the lawsuit between Binance and the US CFTC, making it challenging for CZ (Changpeng Zhao, Binance’s CEO) to resolve the lawsuit before facing a potential lawsuit from the DOJ (Department of Justice). Binance, the world’s largest crypto exchange, along with its CEO Changpeng “CZ” Zhao and…
Former CFTC chairman, Timothy Massad, emphasized the advantages of stablecoins and urged regulators not to undermine their utility. List Your Profile Links On CryptosHeadlines.com “Become a Supporter of CryptosHeadlines.com! Send us your name and social profile links, and we will add your name along with your profile links to the Supporter Page as a proud…
In March, the CFTC filed a lawsuit in a U.S. court in Illinois against Binance, its founder Changpeng Zhao, and compliance officer Samuel Lim, accusing the exchange of running a derivatives trading operation in the United States. List Your Profile Links On CryptosHeadlines.com “Become a Supporter of CryptosHeadlines.com! Send us your name and social profile…
Charles Gasparino’s column in the New York Post sparked debate among XRP supporters after he questioned Judge Torres’ decision on XRP and Ripple Labs. List Your Profile Links On CryptosHeadlines.com “Become a Supporter of CryptosHeadlines.com! Send us your name and social profile links, and we will add your name along with your profile links to…
Deaton expects the SEC appeal decision to take at least two years, and the judge might rule similarly as before. List Your Profile Links On CryptosHeadlines.com “Become a Supporter of CryptosHeadlines.com! Send us your name and social profile links, and we will add your name along with your profile links to the Supporter Page…
Court documents reveal that the SEC is currently reviewing the options for further examination after the ruling that determined XRP is not a security. CryptosHeadlines.com has launched its own crypto store CryptosHeadlines.com has unveiled its crypto store, Crypto Emporium, enabling users to buy and sell real-world products using the EMT Token, the platform’s native currency….
House Republicans have introduced a crypto bill aiming to create a regulatory framework for digital assets and provide clarity on SEC and CFTC jurisdiction. CryptosHeadlines.com has launched its own crypto store CryptosHeadlines.com has unveiled its crypto store, Crypto Emporium, enabling users to buy and sell real-world products using the EMT Token, the platform’s native currency….
Congress is urging the U.S. Securities and Exchange Commission (SEC) to establish clear and efficient rules for the cryptocurrency industry amid the latest buzz in XRP. The SEC recently secured a partial victory in the XRP lawsuit summary judgment, further emphasizing the need for well-defined guidelines in the digital asset space. SEC Faces Pressure to…
Rep. Ritchie Torres, a member of the Congressional Blockchain Caucus, has sent a letter to the SEC chair, urging the agency to reconsider its regulatory stance on crypto assets. U.S. Rep. Ritchie Torres (D-N.Y.) has urged the Securities and Exchange Commission (SEC) to target bad actors in the cryptocurrency sector, in light of a recent…
The US SEC has acknowledged Valkyrie’s spot Bitcoin ETF application, following the acceptance of BlackRock’s spot Bitcoin ETF application. The US SEC has accepted Valkyrie’s recently filed spot Bitcoin (BTC) ETF applications and has initiated a public comment period to gather feedback before conducting its official review. This is the final application acknowledged by the…
Judge Sarah Netburn has ordered the US Securities and Exchange Commission (SEC) and Ripple to settle their lawsuit. This decision comes after Judge Torres ruled that XRP sales are not considered securities. Following Judge Analisa Torres’ summary judgment in the US SEC v. Ripple Labs case, Magistrate Judge Sarah Netburn will preside over the general…
The federal regulatory agency has provided an opportunity for investors, traders, and the general public to submit their views on the Bitcoin ETF filings made through the Cboe exchange. The SEC stated that these comments would be published on their website. Before the July 2023 US Federal Reserve’s FOMC meeting, Bitcoin’s price is stable around…
Ripple (XRP) has seen a surge in popularity following its victory in a legal battle with the SEC. The payment-focused cryptocurrency saw a spike in social discussions following the landmark decision, according to social analysis firm LunarCrush. XRP has outperformed other major cryptocurrencies in terms of social interactions, trailing only Bitcoin. The price surged by…
Lummis emphasized the necessity of a transparent crypto environment after the XRP verdict. Her efforts reflect the increasing awareness among legislators regarding cryptocurrency matters. Wyoming Republican Senator Cynthia Lummis highlighted the importance of Judge Analisa Torres’ recent court judgment, ruling that the Ripple-associated token XRP is not a security, on Twitter. Senator Lummis tweeted about…
A legal expert has warned that Ripple’s victory in its case against the SEC “May be Short-Lived” due to the shaky ground on which the district court ruling rests. Lawyer Bryan Jacoutot, an attorney at Election Law Group and Taylor English Duma, shared his analysis of the U.S. Securities and Exchange Commission (SEC) v. Ripple…
The SEC has clarified that approving a company’s S-1 application for going public does not signify a “blessing” from the agency or assurance of regulatory compliance. In the SEC vs. Coinbase case, court documents reveal that during the pre-motion hearing, the SEC argued that their approval of Coinbase’s S-1 filing in April 2021 should not…
According to court records, Mashinsky pleaded not guilty to seven charges. His New York City residence and bank account will be used as collateral for the bond. Following his arrest on fraud charges, a U.S. District Judge granted bail to Alex Mashinsky, the founder and former CEO of insolvent crypto lender Celsius, at $40 million….
Congressman Ritchie Torres has requested the US Securities and Exchange Commission (SEC) to conduct two separate independent investigations regarding the handling of digital assets. In two public letters, Representative Torres expressed his concern over the SEC’s approach, describing it as “arbitrary and heavy-handed”. The first investigation request centers around the SEC’s decision to grant a…
US House Representative Tom Emmer highlighted the significance of the Ripple case in clarifying the difference between tokens and investment contracts. Emmer Wants Crypto Clarity Act Passed: Emmer stated his plan to bring clarity to this issue through the Securities Clarity Act, a bipartisan bill aimed at ensuring regulatory certainty for the future growth of…
After the court ruled that XRP tokens are not securities, CEO Brad Garlinghouse issued a statement. On Thursday, a New York court made a ruling stating that the sale of XRP tokens by Ripple on exchanges and through algorithms is not considered an investment contract. However, the court also found that the institutional sale of…
The EU’s financial regulator has reiterated that cryptocurrencies are risky, despite the bloc’s recent MiCA proposals. The EU financial regulator has warned that cryptocurrencies are still risky, even after the bloc issued its first set of MiCA proposals. The regulator said that investors should be aware of the risks before investing in cryptocurrencies. ESMA published…
The SEC has taken legal action by filing a lawsuit against Celsius, a cryptocurrency lending company that is currently in a state of bankruptcy. Amidst the SEC’s growing focus on the cryptocurrency sector, the latest entity to face their scrutiny is the bankrupt crypto platform Celsius. According to Bloomberg, the SEC has initiated a lawsuit…
Paul Grewal’s tweet confirms that Coinbase has quickly responded to the SEC’s aggressive action and is ready to present its case in court tomorrow. SEC’s continuous assault on Coinbase’s legal defenses causes concern in the crypto community. Allegations including major questions doctrine, abuse of discretion, equitable estoppel, unclean hands, and laches raise doubts about Coinbase’s…
US regulatory bodies, known as watchdogs, have expressed opposition to the proposed draft bill by the US House Financial Services Committee concerning the structure of the crypto market. US Watchdogs Oppose Proposed Crypto Market Structure Bill A coalition of US-based industry watchdogs has united in opposition to the proposed draft bill by the US House…
In the LBRY case, the judge has confirmed a violation of securities laws, ratifying the agreement reached after an appeal hearing. Initially, the SEC proposed a settlement amount of $22 million, which was later revised to $111,000 considering LBRY’s financial situation. The revised settlement amount has been approved by the judge as part of the…
Paradigm’s Special Counsel Rodrigo Seira Criticizes SEC’s Unjust Actions Against Bittrex in Regulating Secondary Crypto Markets. In a series of tweets on July 11, Seira expressed his opinions on Paradigm’s amicus brief filing. The brief argues for the dismissal of the SEC’s case against Bittrex, stating that the SEC’s claims are based on an unreasonable…
BitOasis, the initial crypto exchange to obtain an operational license in Dubai, has had its license suspended by the local regulator due to failure in meeting essential conditions within the specified timeframe. Dubai’s cryptocurrency regulator has suspended the license of BitOasis, a crypto exchange, for not meeting the required conditions within the specified timeframes. On…
JPMorgan Chase nears $39B in fines from US regulators, enforcement agencies, and lawsuits for violations including anti-competitive practices and securities abuses. The recent $4 million fine imposed by the SEC on JPMorgan brings the total amount the banking giant has paid for fines related to banking, securities, and other violations since 2000 to $38.995 billion….
Crypto Exchanges Required to Register by Year-End or Face Enforcement Actions, Says Financial Regulator Crypto exchanges and companies worldwide are grappling with challenges due to the increased scrutiny and crackdowns by the US Securities and Exchange Commission on cryptocurrency assets. Following similar developments in Australia and Europe, African crypto exchanges are now facing pressure. South…
Discussions regarding investor protection regulations have been ongoing since September 2022, prompted by the crypto lending crisis that resulted in the bankruptcy declarations of companies like BlockFi and Celsius. Thailand’s Securities and Exchange Commission (SEC) has introduced new regulations for digital asset service providers with a strong emphasis on protecting investors. These guidelines mandate that…
This action arises as the US Securities and Exchange Commission (SEC) actively pursues legal charges against major cryptocurrency exchanges and associated entities. The US Securities and Exchange Commission (SEC) is facing allegations of enforcing legal challenges on the crypto industry without clear regulations. In response, the US Supreme Court has reportedly chosen to examine the…
Coinbase’s court hearing date has been unexpectedly advanced as a result of a “creative” defense maneuver. The exchange filed its response a remarkable 40 days ahead of the August 7, 2023 deadline, prompting an earlier scheduling of the hearing. The U.S. Securities and Exchange Commission (SEC) is set to present its response to Coinbase’s initial…
The Data Act, which was initially suggested in early 2022, was approved by the European Parliament on March 14. EU lawmakers have reached an agreement to proceed with the European Data Act, despite objections from the crypto community. Thierry Breton, the EU’s Commissioner for Internal Markets, confirmed the deal in a tweet, describing it as…
Court seeks SEC clarification on defendants’ non-security token trading Binance and Coinbase, the two largest crypto exchanges globally, are currently embroiled in legal issues with the SEC over alleged violations of operational regulations. The Coinbase Legal Chief highlighted the SEC’s perplexing approach to token categorization in the ongoing Binance case, adding to the complexity of…
Cryptocurrency enthusiasts have raised suspicions that the SEC’s actions are advantageous to US financial firms. Prominent figures within the crypto industry have voiced support for allegations made by Pysh, suggesting collaboration between Wall Street and regulators. Meanwhile, financial firms are embracing opportunities in the crypto space despite the ongoing SEC lawsuits. The Securities and Exchange…
The US House Committee is deliberating on transitioning digital assets from securities to commodities, alongside separate legislation aimed at creating a comprehensive regulatory framework for stablecoins. The nation strives for balanced crypto innovation and consumer protection as it navigates the dynamic landscape of cryptocurrencies. In a significant July vote, the US House Financial Services Committee,…
A group of US lawmakers has introduced a bill aimed at establishing a commission to address the challenges and opportunities presented by artificial intelligence (AI). A bipartisan group of US lawmakers has introduced a bill on June 20 to create a commission dedicated to studying the country’s approach to artificial intelligence (AI). The main focus…
Crypto Regulation Law in the United Kingdom Requires Royal Assent, Expanding Scope to Include Stablecoins The United Kingdom’s House of Lords, the upper house of Parliament, has granted its approval to a measure aimed at regulating stablecoins and cryptocurrencies while also introducing oversight for cryptocurrency marketing. This development signals progress towards establishing comprehensive regulations for…
In a letter submitted to the Court on June 17, Coinbase’s legal team expressed frustration with the Securities Exchange Commission (SEC) for its failure to provide clear responses regarding Coinbase’s rulemaking petition. The petition urges the SEC to create a regulatory structure for digital assets. According to Coinbase’s lawyers, the SEC has been evasive and…
Binance CEO CZ is happy and relieved that the disagreement with the SEC has been resolved. Changpeng ‘CZ’ Zhao, the CEO of Binance, shared his joy and relief as the long-standing dispute with the United States Securities and Exchange Commission (SEC) has been resolved. The SEC’s close examination of the company had caused a lot…
Binance Faces Money Laundering and Illegal Provision Investigation in France Binance’s French subsidiary is currently under preliminary investigation for illegal provision of digital asset services and money laundering, according to the Paris public prosecutor’s office. The investigation covers the period until 2022, despite Binance obtaining its digital asset service provider license (PSAN) in May 2022….
SEC Delays Response to Coinbase’s Petition; Enforcement Action Not Affected On Tuesday, the U.S. Securities and Exchange Commission (SEC) revealed that it has yet to reach a decision regarding Coinbase’s (COIN) petition for rulemaking. The regulatory body clarified that its ongoing enforcement action against the cryptocurrency trading platform is independent of any ruling on the…
Binance.US Gets Good News as Judge Denies SEC’s Request to Freeze Funds Binance.US, a cryptocurrency exchange, received positive news when a federal judge rejected the SEC’s demand to freeze the funds and assets held on the Binance.US trading platform. This decision came shortly after Binance had already asked the court to reject the SEC’s proposal….
The draft bill, scheduled for discussion before the House committee on June 13, has the potential to become the pioneering crypto legislation in the United States, if it receives approval. The United States House Financial Services Committee, under the leadership of Representative Patrick McHenry, has unveiled the third draft of the stablecoin bill. This bipartisan…
Binance Requests Recusal of SEC Chair Gary Gensler Due to Past Relationship with the Exchange and Its Founder During a meeting with SEC officials on June 4, lawyers representing Binance highlighted an intriguing aspect of SEC Chair Gary Gensler’s past. They revealed that in a previous capacity, Gensler had acknowledged the challenges of regulatory uncertainty…
Ryan Selkis Praises New Crypto Bill for Clear Compliance Path in Coinbase’s Twitter Space on June 7 During a Twitter Space hosted by Coinbase on June 7, Messari CEO Ryan Selkis expressed his admiration for a newly proposed Republican crypto bill, describing it as a remarkable “10x improvement” compared to previous crypto bills presented in…
While the U.S. House of Representatives committee has not revealed all the specific topics, there is anticipation within the community that the upcoming hearing will delve into crucial matters within the cryptocurrency space The United States House of Representatives Financial Services Committee has taken the initiative to schedule a hearing specifically focused on cryptocurrencies. The…
SEC’s strict regulations on crypto aim to control and regulate the market, potentially leading to a significant transformation and solidifying the agency’s power in the cryptocurrency industry According to Reuters, if the SEC’s cases against Binance and Coinbase are successful, it could bring about a revolution in the crypto market, as the agency would establish…