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.
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.
The Financial Accounting Standards Board (FASB) is drafting a new accounting standard that requires companies to use a fair-value approach for cryptocurrency, measuring digital assets based on their market trading value, which is expected to be approved by the end of the year.
The Financial Accounting Standards Board (FASB) has voted to allow companies like MicroStrategy to report their bitcoin holdings without recognizing impairment losses if the cryptocurrency's price drops, eliminating the negative impact on the company's value.
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.
The Financial Accounting Standards Board (FASB) plans to introduce new fair-value accounting rules for Bitcoin and other cryptocurrencies, which could provide clarity and eliminate ambiguity for companies interested in holding digital assets, potentially leading to increased adoption and long-term price appreciation.
Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), is facing criticism for his alleged corrupt practices and his crackdown on cryptocurrencies, with some accusing him of selectively targeting companies and undermining justice and market integrity.
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.
Sen. Elizabeth Warren has urged SEC Chair Gary Gensler to finalize a strong climate risk reporting rule, emphasizing that voluntary disclosures by Wall Street firms cannot be trusted and that public companies should be required to report greenhouse emissions data and other relevant information.
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.
SEC Chair Gary Gensler faces criticism from lawmakers, including accusations of kneecapping capital markets and calls for his firing, during a congressional hearing on market oversight, while also dodging questions about Bitcoin and Pokemon cards.
The House Financial Services Committee's hearing on the oversight of the Securities and Exchange Commission (SEC) revealed ongoing debates over the regulatory status of Bitcoin and Ether, with SEC Chair Gary Gensler providing ambiguous answers and raising questions about the need for congressional action for establishing regulatory clarity in the digital asset market.
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.
The Securities and Exchange Commission (SEC) has adopted rule amendments to improve transparency and provide more timely information to shareholders and the market regarding beneficial ownership reporting under Sections 13(d) and 13(g) of the Securities Exchange Act of 1934.
The US Financial Accounting Standards Board (FASB) has approved mark-to-market accounting for corporations and businesses holding crypto digital assets, allowing them to declare gains or losses based on the acquisition price, which has significant implications for crypto adoption in the corporate treasury world.
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.
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.
SEC Chair Gary Gensler announced that the regulatory body took 780 enforcement actions, resulting in $5 billion in judgments and orders, with $930 million distributed to harmed investors, and made critical remarks about the cryptocurrency market's noncompliance during his speech at the 2023 Securities Enforcement Forum.
