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Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), has issued her opinion on the recent attempts of the institution to change the definition of “exchange” under the Exchange Act Rule. According to Peirce, the institution is now expanding its reach to solve “problems that do not exist,” stifling innovation in the … Read more
The new proposals set forth by the Gensler-led Securities and Exchange Commission seek to “expand the scope” of rules set out by the 2009 Custody Rules. Go to Source Powered by WPeMatico
The group’s policy head doubted a divided Congress can create crypto legislation but said it doesn’t give regulators absolute authority in the interim. Go to Source Powered by WPeMatico
On Feb. 9, 2023, the cryptocurrency community learned of the U.S. Securities and Exchange Commission’s (SEC) crackdown on staking services. The SEC fined Kraken, a cryptocurrency exchange, $30 million for offering an “unregistered offering” related to its U.S. staking service. Digital currency advocates are now debating what constitutes a yield product versus a noncustodial solution … Read more
“Today, the SEC shut down Kraken’s staking program and counted it as a win for investors. I disagree and therefore dissent,” said commissioner Hester Pierce. Go to Source Powered by WPeMatico
A commissioner with the U.S. Securities and Exchange Commission (SEC) has called for “a coherent and consistent legal framework that works across all asset classes,” including crypto assets. She warned that the SEC’s current enforcement-centric approach would take 400 years to go through all the crypto tokens that are allegedly securities. SEC’s Commissioner on Crypto … Read more
Peirce has called for regulatory clarity around certain issues relating to crypto as part of the SEC Spring 2022 Regulatory Agenda, which was released on Wednesday. Go to Source Powered by WPeMatico
The commissioner made it clear she does not support bailouts for anyone in the crypto industry, arguing it’s better to “let these things play out.” Go to Source Powered by WPeMatico
A commissioner with the U.S. Securities and Exchange Commission (SEC) has warned that the securities market regulator has dropped the ball on crypto regulation. “We’re not allowing innovation to develop and experimentation to happen in a healthy way, and there are long-term consequences of that failure,” said the commissioner. SEC Commissioner Warns About the ‘Failure’ … Read more
A commissioner with the U.S. Securities and Exchange Commission (SEC) expects to see stricter regulation on stablecoins. However, Treasury Secretary Janet Yellen says stablecoins are currently “not a real threat” to the country’s financial stability. SEC Commissioner on Stablecoin Regulation The regulation of stablecoins has been a hot topic this week following the Terra fiasco … Read more
