The U.S. Securities and Exchange Commission (SEC) has implemented new rules aimed at increasing transparency and accountability in the private equity and hedge fund industry, requiring the issuance of quarterly fee and performance reports, disclosure of fee structures, and annual audits, while banning preferential treatment for certain investors.
The Chairman of the House Financial Services Committee, Patrick McHenry, criticized the Biden Administration's proposed crypto tax regulations, claiming that they aim to "kill" the digital asset industry in the U.S. and urged for clearer rules.
Attorney John Deaton addressed the importance of accountability within regulatory bodies, emphasizing the need to hold both current and previous figures responsible, such as Gary Gensler and Jay Clayton, to maintain fairness and consistency in regulatory actions, particularly in relation to the "Safe Harbor" proposal for cryptocurrencies. Deaton also discussed the complexities of the Ripple legal case and the potential influence it may have on the SEC's approach to other cryptocurrencies, highlighting the urgency of regulatory clarity in order to prevent financial harm in the industry.
Former SEC chair Jay Clayton believes that the approval of spot Bitcoin exchange-traded funds (ETFs) is inevitable, as major financial institutions backing BTC investment vehicles represent a shift in how retail investors can access crypto. The SEC has 45 days to approve, deny, or delay ETF applications from 7 major firms.
The Securities and Exchange Commission (SEC) may have suffered setbacks in its regulation-by-enforcement approach to the cryptocurrency industry, with the latest ruling in favor of Grayscale Investments potentially paving the way for the emergence of a bitcoin spot exchange-traded fund (ETF); however, the SEC could appeal the decision or find new ways to deny similar applications, and the lack of a regulated exchange for the bitcoin spot market remains a challenge. Despite court challenges, SEC Chair Gary Gensler is expected to continue pursuing his regulation tactics, while Congress and a potential Republican president in 2024 may play a role in shaping the regulatory environment for digital assets.
Sen. Bill Hagerty accuses SEC Chair Gary Gensler of stifling crypto innovation and calls for more hearings to examine the SEC's actions in the crypto sector.
The United States House Financial Services Subcommittee on Digital Assets, Financial Technology, and Inclusion will hold a hearing on September 14 to discuss central bank digital currencies (CBDCs) and potential private sector alternatives, marking the first time in months lawmakers will address the issue.
U.S. Securities and Exchange Commission Chair Gary Gensler continues to emphasize the importance of crypto companies complying with securities laws, despite recent setbacks in court cases against the industry. Gensler will discuss recent enforcement actions and proposals related to cryptocurrency firms but will avoid discussing ongoing litigation, including high-profile cases against Coinbase and Binance.
U.S. SEC Chair Gary Gensler criticized the crypto industry during a Senate hearing but did not provide any information on the regulator's stance on Bitcoin spot ETF applications, which are currently under review.
A court victory for Grayscale Bitcoin Trust may lead to its transformation into an exchange-traded fund, potentially providing a profitable opportunity for investors. However, the approval of the US Securities and Exchange Commission (SEC) remains uncertain, despite a recent favorable ruling.
The Messari Mainnet conference in New York was more professional and focused on regulation compared to previous years, indicating a shift towards a more mature and practical approach in the crypto industry. Attendees emphasized the need for clear regulatory guidelines and discussed the challenges of innovating under the watchful eye of US regulators. The industry is evolving and becoming less speculative, with a greater emphasis on real-world applications and practical tools.
A bipartisan group of lawmakers is urging the U.S. Securities and Exchange Commission (SEC) to approve bitcoin exchange traded funds (ETFs), arguing that the SEC should follow court rulings and cease efforts to block regulatory approval.
Four members of the United States Congress are urging SEC Chair Gary Gensler to approve the listing of spot Bitcoin exchange-traded funds (ETFs) immediately, claiming that the SEC is discriminating against such products despite legal precedent. They argue that spot BTC ETFs would provide increased investor protection and transparency.
SEC Chair Gary Gensler will address the U.S. Financial Services Committee about the Securities and Exchange Commission's focus on AI, predictive data analytics, and the cryptocurrency sector, emphasizing the need for updated rules and protections for investors and issuers in the crypto space.
SEC Chairman Gary Gensler faced criticism during a House Financial Services Committee hearing regarding the SEC's policies and actions, including the issuance of Staff Accounting Bulletin (SAB) 121 on accounting and disclosure of crypto assets, without consulting prudential regulators or the Financial Accounting Standards Board (FASB). The bulletin, which requires disclosure of risks associated with digital asset custody, has faced opposition and accusations of being "regulation disguised as staff guidance." Issues such as the approval of spot Bitcoin exchange-traded funds and the SEC's stance on Grayscale's Bitcoin ETF application were also discussed.
SEC Chair Gary Gensler criticized the practices of crypto companies and their handling of customer assets in his congressional testimony, while remaining silent on the SEC's plans for spot bitcoin ETFs after a recent legal setback. Gensler also noted that the agency has not yet decided how to proceed with a judge's ruling regarding bitcoin ETF applications. Additionally, Gensler mentioned that the SEC is preparing for a potential government shutdown, which would significantly slow down reviews and approvals of filings.
The article argues that the SEC and Chairman Gensler's attempts to regulate digital assets are misguided and lack understanding of their potential, and advocates for Congress to prevent these overbearing regulations in order to allow the industry to thrive and contribute to the global economy.
Despite talk of rising institutional interest, Kevin O'Leary asserts that institutions are not investing in Bitcoin due to SEC scrutiny and the lack of compliant exchanges, hindering the rise in Bitcoin's value.
The US Oversight and Accountability Committee is frustrated with SEC Chair Gary Gensler for not disclosing documents related to the SEC's involvement in European social engineering initiatives, amid growing concerns over his cautious stance towards cryptocurrencies and his intensified regulatory scrutiny of the industry. Meanwhile, the macroeconomic landscape is focused on relaxing financial conditions, potentially leading to significant developments in the cryptocurrency market, particularly for altcoins like Chainlink, Polygon, Cardano, Ripple, and Polkadot.
The U.S. Securities and Exchange Commission (SEC) is exhibiting a change in attitude towards ARK Invest's application for a Bitcoin exchange-traded fund (ETF), engaging in a healthy exchange of information and potentially bringing institutional interest into Bitcoin once approved.
The House Financial Services Committee has announced three upcoming hearings on topics including the unintended consequences of the SEC's agenda, the Biden Administration's ceding of authority over American financial regulation, and the factors influencing the high cost of insurance for consumers.
The House Financial Services Committee has announced the postponement of two subcommittee hearings on October 24, 2023, titled "Examining the SEC's Agenda: Unintended Consequences for U.S. Capital Markets and Investors" and "The Tangled Web of Global Governance: How the Biden Administration is Ceding Authority Over American Financial Regulation."
U.S. SEC Chairman Gary Gensler did not disclose any plans for spot bitcoin ETFs, stating that the decisions are currently with the SEC staff and he will not pre-judge the situation before their recommendations; major financial firms are eagerly awaiting the outcome of the court order that vacated the SEC's rejection of Grayscale Investments' application.
The Securities and Exchange Commission, led by chair Gary Gensler, is increasing its efforts to enforce regulations and will continue to go after wrongdoers in the cryptocurrency industry.
SEC Chair emphasizes the importance of economic realities, accountability, high-impact cases, process, and positions of trust in the SEC's enforcement program to protect investors and ensure market integrity, particularly in the crypto asset securities markets.
The U.S. Securities and Exchange Commission (SEC) has multiple filings for potential bitcoin exchange-traded products under consideration, including an application from Cathie Wood's ARK Invest; approval of a spot bitcoin exchange-traded fund (ETF) could drive increased demand for the cryptocurrency.
