SEC

Thailand’s Securities and Exchange Commission (SEC) plans to introduce stricter regulations for crypto firms. Bloomberg reported on July 22, citing the SEC’s Secretary-General Ruenvadee Suwanmongkol. The decision to introduce sterner regulations comes after the recent crypto market downturn saw retail investors incur massive losses. According to Suwanmongkol: The extreme volatility of digital-asset prices has spurred the urgent need for improved supervision. Our main focus will be to provide more protection for small investors, some of whom are putting most of…

Lael Brainard – Vice Chairwoman of the Federal Reserve – said the latest crypto market bloodbath “highlights the urgent need” for industry regulation. She claims it must begin to comply with existing financial regulations, mirroring the views of the Securities and Exchange Commission (SEC).  Ensuring Financial Stability Brainard made her comments during a speech at the Bank of England Conference in London on Friday.  “Future financial resilience will be greatly enhanced if we ensure the regulatory perimeter encompasses the crypto…

Grayscale has failed to convince the Securities and Exchange Commission (SEC) to accept its spot Bitcoin ETF application. Following months of negotiations and campaigning to kindly persuade regulators, the fund will now take legal action against the commission. Why the Rejection? According to the SEC’s filing on Wednesday, Grayscale failed to prove that its product could protect investors, or prevent market manipulation. “As the Commission has explained, an exchange that lists bitcoin-based ETPs12 can meet its obligations…  by demonstrating that…

Grayscale – the world’s largest Bitcoin fund – will see its Bitcoin Spot ETF application approved or denied by next week. Ahead of the Security and Exchange Commission (SEC)’s decision, CEO Michael Sonnenshein has issued a reflection letter to investors. He details the progress they’ve made with the transition, including thousands of SEC-directed letters from investors encouraging its acceptance. A Drawn-Out Battle In his letter shared on Monday, the CEO reminds investors that GBTC was designed to be an ETF…

The US Securities and Exchange Commission (SEC) is investigating possible insider trading on US-based crypto exchanges. Fox Business journalist Eleanor Terrett revealed, citing industry sources conversant with the matter. [embed]https://twitter.com/EleanorTerrett/status/1536558238824644609[/embed] Per Terrett, the securities regulator has sent several crypto exchanges letters asking about their lack of insider trading safeguards. Terrett’s sources did not reveal the names of the exchanges the SEC is investigating. This investigation marks the regulator’s latest move to regulate the crypto space. Previously, the SEC asked crypto…

The Court of Appeals for the Second Circuit has settled on a ruling regarding the subpoena Terraform Labs (TFL) received last year. The court found the serving legitimate, and TFL and Do-Kwon are now obligated to cooperate as the SEC probes into the company. Do Kwon’s Appeal and Rejection The US Securities and Exchange Commission slammed Terra with a subpoena during the Messari Mainnet Conference in September last year. Do Kwon initially attempted to evade compliance, even denying entirely that…

The US Securities Exchange Commission (SEC) is investigating leading crypto exchange Binance and its token Binance Coin (BNB). A Bloomberg report unveiled this news on June 6, citing sources familiar with the matter. The sources requested anonymity to reveal details of the confidential investigation. According to the report, the SEC is looking into whether Binance violated securities laws. Specifically, the securities regulator seeks to determine whether Binance’s Initial Coin Offering (ICO) involved the sale of an unregistered security. This ICO…

Binance – the world’s largest cryptocurrency exchange – is among a list of major equity investors backing Elon Musk’s Twitter bid. The company supported the tech mogul with $500 million, alongside an additional $1 billion from other crypto-supportive firms. Binance Backs Elon Binance’s backing was revealed in an updated Schedule 13D filing with the Securities and Exchange Commission (SEC) on Wednesday. It lists 19 different parties that contributed a total of around $7.1 billion to the Tesla CEO. Elon Musk…

Republican members of the US congressional committee responded to the SEC's recently proposed regulation on the definition of an  “exchange”. Some of the committee members think the adjustments do not favor decentralized outfits. Also, they expressed their concern that the changes could come back to haunt them. Asides concerns from the committee, several notable bodies have also raised objections against the draft. The US SEC’s Proposed Rule This time last month, the Securities and Exchange Commission proposed an amendment regarding…