SEC
SEC typically refers to U.S. Securities and Exchange Commission which "protects investors in the $3.8 trillion municipal securities markets that cities and towns rely on to provide neighborhood schools, local libraries and hospitals, public parks, safe drinking water and so much more". But it can also refer to the security and exchange regulation bodies of other countries.
CZ Comments on Binance US CEO's Departure
Binance US founder CZ announced the departure of Brian Shroder and the appointment of Norman Reed as new leaders. The company is also downsizing, with Krishna Juvvadi and Sidney Majalya leaving. The SEC's recent actions have sparked concerns about a possible criminal inquiry. Despite these challenges, CZ's message to the crypto community remains clear: "Ignore FUD. Keep building."
SEC Charges Stoner Cats Over NFT Offerings
The U.S. Securities and Exchange Commission (SEC) has accused Stoner Cats 2 LLC of conducting an unregistered crypto asset securities offering, involving non-fungible tokens (NFTs) to raise funds for an animated web series. SC2 successfully raised $8 million, with the SEC finding SC2 had set up a 2.5 percent royalty strategy and encouraged trading.
Commissioners Dissent on SEC's NFT Enforcement Action on Stoner Cats 2, LLC
The Securities and Exchange Commission (SEC) has dissented on its enforcement action against Stoner Cats 2, LLC's non-fungible token (NFT) settlement. The Commissioners argue that the Howey investment contract analysis lacks a limiting principle and could stifle artists' creativity due to legal uncertainties. They call for clear guidelines for artists and creators using NFTs to support their creative endeavors and engage with fan communities.
KuCoin's Emphasis on Self-Regulation and User Security Highlighted at TOKEN2049
Alicia Kao, KuCoin's Managing Director, discussed the challenges and opportunities of cryptocurrency exchanges during the TOKEN2049 panel. She highlighted the importance of self-regulation and KuCoin's strict security protocols. KuCoin, a leading global exchange, has a user base of 29 million and endorses over 750 projects. The panel provided valuable insights into the crypto industry's future direction.
Will the Binance.US CEO's Resignation Trigger a Domino Effect?
Binance.US, the American subsidiary of the global cryptocurrency exchange, has experienced significant staffing changes, including the departure of CEO Brian Shroder and the elimination of around 100 positions. The company is also facing legal actions from the SEC and the Commodity Futures Trading Commission, as well as a decline in market share. The cryptocurrency community is concerned about the future of Binance and its potential demise, with WhaleWire warning of a larger explosion than FTX's.
Tom Emmer Accuses SEC Chair of Exceeding Authority, Detrimental to Americans, Citing Ripple Case
House Majority Whip Tom Emmer has criticized SEC Chair Gary Gensler for expanding authority negatively impacting Americans. Emmer emphasized Congress's need to use appropriations process to check Gensler's misuse of taxpayer resources, highlighting the ongoing debate on crypto regulation in the U.S.
Linus Financial Settles SEC Charges Over Unregistered Crypto Lending Product
The SEC has settled charges against Linus Financial for failing to register its Linus Interest Accounts, a crypto lending product. The SEC deemed the accounts securities and made registration mandatory. Linus voluntarily stopped offering the accounts to new investors and requested fund retrieval.
SEC's XRP and Grayscale Bitcoin ETF Cases Challenged by US House Majority Whip Tom Emme
House Majority Whip Tom Emmer criticizes the US Securities and Exchange Commission's (SEC) approach to cryptocurrency regulation, citing legal losses against Ripple and Grayscale. Emmer questions the agency's treatment of Bitcoin futures ETFs and spot ETFs, adding to ongoing debate.
Why Grayscale's SEC Victory Is Unlikely to Benefit Bitcoin and Crypto Markets in the Long Run
The US Court of Appeals ruled in favor of Grayscale Investments, ordering the SEC to review its Bitcoin ETF application. This decision has boosted Bitcoin prices but may not provide long-term benefits due to inconsistent market reactions and declining trading volumes.
Archipelago Trading Services Settles with SEC for $1.5 Million Over Unfiled SARs
Archipelago Trading Services Inc. will pay $1.5 million to the SEC for failing to file hundreds of Suspicious Activity Reports between 2012 and 2020, despite daily high-risk transactions.