Tag: SEC

BTC’s correction to $22,750 followed negative remarks from financial regulators, but key Bitcoin price metrics show bulls remain optimistic. Bitcoin price broke above $25,000 on Feb. 21, accruing a 53% year-to-date gain. At the time, it made sense to expect the rally to continue after U.S. retail sales data from the previous week vastly surpassed the…

According to the Department of Justice, Forsage employed smart contracts that were coded in ways consistent with a Ponzi scheme. The founders behind the alleged $340 million “global Ponzi” scheme Forsage have been indicted by a federal grand jury in the District of Oregon. The four Russian founders — Vladimir Okhotnikov, Olena Oblamska, Mikhail Sergeev…

Experts from 10 industry organizations contributed to this pioneering examination of legal questions surrounding proof of stake. The Proof of Stake Alliance (POSA), a nonprofit industry alliance, has published two white papers examining on the status of deposit tokens in United States securities and tax law on Feb. 21. The papers were authored by representatives…

After the Securities and Exchange Commission’s crackdown on Kraken, Coinbase chief legal officer Paul Grewal outlined the differences between that exchange’s staking product and its own. The staking services offered by cryptocurrency exchange Coinbase are “fundamentally different” to what was offered by its peer exchange Kraken — which recently came under fire from the United…

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. A five-member panel of the United States Securities Exchange Commission (SEC) has voted 4-1 in favor of a proposal that may make it more difficult for cryptocurrency firms to serve…

Changpeng Zhao, also known as “CZ,” says that the industry may start to use stablecoins pegged to the euro, yen, or Singapore dollar, following recent actions against the U.S. dollar-pegged stablecoin BUSD. The crypto industry will “probably” start using euro, yen, or Singapore dollar-based stablecoins in the future, reducing its reliance on United States dollar-based stablecoins, according…