The Digital Chamber (TDC) has recently taken a stand on the issue of non-fungible tokens (NFTs) and their classification under federal securities laws. In a statement released on Sept. 10, TDC argued that NFTs created for consumptive use, such as digital art, collectibles, and video game assets, should be considered consumer goods rather than financial
Regulation
The US Securities and Exchange Commission (SEC) continues to face scrutiny over its Staff Accounting Bulletin No. 121 (SAB 121), with Commissioner Hester Peirce expressing ongoing concerns about the regulation. Despite recent affirmations from SEC Chief Accountant Paul Munter that the Commission’s position on SAB 121 remains unchanged, Peirce believes that there are significant issues
The US Securities and Exchange Commission (SEC) has been making headlines due to the significant fines imposed on crypto companies. In 2024 alone, the SEC imposed a staggering $4.68 billion in fines against various entities operating in the digital asset market. This unprecedented level of enforcement marks a turning point in the regulatory landscape for
Robinhood’s cryptocurrency division recently agreed to pay a hefty fine of $3.9 million as part of a settlement following an investigation by the California Attorney General’s office. According to the statement released on September 5th, the investigation revealed some concerning practices by Robinhood Crypto. The company was found guilty of preventing users from withdrawing their
The recent settlement between the US Securities and Exchange Commission (SEC) and hedge fund Galois Capital Management LLC serves as a stark reminder of the importance of complying with client asset safeguarding requirements. The SEC charged Galois Capital for allegedly failing to adhere to these regulations, particularly regarding crypto assets that were categorized as securities.
US Securities and Exchange Commission (SEC) Commissioner Mark T. Uyeda recently spoke at the Korea Blockchain Week 2024 event, urging the agency to create specialized S-1 registration forms tailored specifically for digital asset securities. Uyeda emphasized the need for the SEC to update its regulatory tools to better address the unique characteristics of digital assets.
The recent filing by the US Securities and Exchange Commission (SEC) expressing concerns over the proposed repayment strategy in the ongoing FTX bankruptcy case has sparked controversy within the industry. The plan, which involves repaying creditors through stablecoins or other digital assets, has raised questions about the legality of such transactions under federal securities laws.
The CEO of Telegram, Pavel Durov, has recently been released from prison after being placed under judicial supervision with specific conditions. One of these conditions includes the requirement to pay a €5 million bond. Additionally, Durov is not allowed to leave the French territory and must report to the police station twice a week as
Congressman Wiley Nickel (D-NC) recently took to social media to express his strong criticism of the US Securities and Exchange Commission (SEC). He accused the agency of undermining trust in the regulatory system by employing a “regulation by enforcement” approach. Nickel labeled the SEC’s strategy as a “blatant abuse of power” that could potentially hinder
The US Securities and Exchange Commission (SEC) has brought to light the issue of retail investors not having timely access to fund portfolio data. This is a significant problem, as the current regulatory framework mandates registered investment companies to provide this data periodically to the Commission and investors. However, the data is often delayed, impacting