SEC OVERSIGHT
Wall Street regulator to start over on 'swing pricing' rules for open-end funds
The SEC will redraft swing pricing rules for open-end funds, originally met with objections. The 2022 proposal aimed to address market stresses, like during the coronavirus pandemic. Requirements included a seven-day liquidity standard. Chair Gary Gensler consulted banking regulators. BlackRock, Vanguard, and Fidelity previously saw a similar rule scrapped for money market funds, as it jeopardized investments.
Ethereum ETFs: Why it is a game-changer for mainstream crypto adoption
Ethereum's pivotal role in propelling the mainstream adoption of crypto cannot be overstated. As the market undergoes continuous evolution, Ethereum stands as a cornerstone, guiding the industry toward unprecedented growth and innovation.
Long-term investment in Bitcoin remains promising despite market volatility, says Kumar Gaurav of Cashaa
Kumar Gaurav, Founder and CEO of Cashaa, discussed the impact of factors like escalating crude oil prices and potential interest rate changes by the Federal Reserve on Bitcoin and speculative assets in an interview with ETMarkets. Gaurav says: "We are launching our earn, borrow, spend and store wallets in seven regions including Europe, UAE, India, Turkey, Indonesia, South Africa and Kenya as the first phase of our new direct-to-consumer business model."
US House passes crypto bill despite warnings from SEC
The House approval comes as the U.S. Securities and Exchange Commission (SEC) signals that it will likely approve applications for spot ether exchange-trade funds in a surprising boost to the industry.
Bitcoin Pizza Day today: Mudrex CEO Edul Patel explains the significance
Mudrex celebrates Bitcoin Pizza Day in Bengaluru by distributing pizzas to children, startups, and food lovers, partnering with WeWorks and Zomato. Edul Patel shares insights on Bitcoin's journey from the first real-world transaction in 2010 to current regulatory trends, including SEBI's stance.
KPMG, Deloitte affiliates hit with US penalties for exam cheating
Exam cheating has plagued the auditor industry for years. KPMG in 2019 agreed to pay $50 million to the U.S. Securities and Exchange Commission (SEC) for a series of violations
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US SEC set to adopt Treasury market dealer rule as part of market overhaul
The U.S. securities regulator is set on Tuesday to adopt a rule requiring proprietary traders and other firms that routinely deal in U.S. government bonds and other securities to register as broker-dealers, subjecting them to stricter oversight.
Binance, SEC face off over regulator's crypto oversight
The U.S. Securities and Exchange Commission (SEC) on Monday defended its authority to oversee certain cryptocurrency assets in court, as Binance urged a federal judge to dismiss the regulator's case against the world's largest crypto exchange.
Bitcoin ETFs come with risks: Here are key things you should know
Several established financial institutions, including Fidelity and BlackRock, have coalesced around bitcoin because it is the world's first and largest cryptocurrency. But bitcoin remains an enigma to most everyday investors, and it's hard to separate the buzz from any true potential. It's also wildly volatile. In other words, it's a bet.
Coinbase, SEC set to face off in federal court over regulator's crypto authority
Coinbase will argue at a court hearing on Wednesday that the U.S. securities regulator should drop its case against it because the tokens traded on its crypto exchange are not akin to securities, said a person familiar with the case and court filings.
ETtech Explainer: US SEC’s nod to bitcoin ETFs, and what it means for the crypto ecosystem
The US Securities and Exchange Commission (SEC) has granted approval to major asset managers, including BlackRock and Fidelity, for the first-ever US-listed exchange-traded funds (ETFs) that track the price of bitcoin. These bitcoin ETFs allow mainstream financial institutions with trillions of dollars in assets under management to access the cryptocurrency asset class.
What's at stake in Grayscale's spot bitcoin ETF case against the SEC?
The case is being closely watched by the cryptocurrency and asset management industries, which have been trying for years to convince the SEC to approve a spot bitcoin ETF. They say it would allow investors to gain exposure to bitcoin, the world's largest cryptocurrency, without having to own it. The SEC, though, worries spot bitcoin ETFs will be vulnerable to manipulation.
Crypto bill passes congressional committee in victory for industry
The bill passed by the House Financial Services Committee would define when a cryptocurrency is a security or a commodity and expand the Commodity Futures Trading Commission's (CFTC) oversight of the crypto industry, while clarifying the Securities and Exchange Commission's jurisdiction, as many crypto advocates complain of the agency's perceived overreach.
US congressional committee set to weigh crypto bills
Among the legislation the House Financial Services Committee is scheduled to consider is a bill that would define when a cryptocurrency is a security or a commodity and another that would establish a regime to oversee stablecoins.
US congressional committee set to weigh crypto bills
Among the legislation the House Financial Services Committee is scheduled to consider are a bill that would define when a cryptocurrency is a security or a commodity and another that would establish a regime to oversee stablecoins - digital tokens typically backed by traditional assets like the US dollar.
Ripple ruling: Crypto firms facing US SEC charges find hope in verdict, look to fight back
Thursday's ruling that Ripple Labs Inc did not violate securities law by selling its XRP token on exchanges was the first major setback for the SEC in a decade of enforcement against the cryptocurrency industry.
Explainer: What makes a crypto asset a security in the US?
On Thursday Ripple Labs got a landmark ruling from a federal judge who said some of the company's XRP token sales were not subject to securities laws.
US crypto lobbyists court Democrats in fresh legislative push
The Blockchain Association, Chamber of Digital Commerce, Crypto Council for Innovation, and Coinbase Global are among the groups knocking on doors in Congress to build bipartisan support for a draft bill ahead of a key vote in coming weeks, said half a dozen executives and lobbyists.
SEC's Crypto Crackdown: What it means for investors and the future
The rise of cryptocurrencies, particularly Bitcoin and Ethereum, has piqued the interest of Indian investors and resulted in a market estimated to have 115 million investors. However, concerns around fraud and illicit activities have led to regulatory crackdowns, which may impact investors through heightened compliance obligations and short-term market fluctuations. Nevertheless, crackdowns aim to establish a secure foundation for the market.
Is SEC's crackdown on crypto exchanges warranted? Here's what Zerodha's Nithin Kamath says
India's leading broker Zerodha's CEO Nithin Kamath supports the SEC's actions against cryptocurrency exchanges Coinbase and Binance for violating rules, as he believes regulatory oversight is necessary to protect the interest of retail investors. The SEC has sued Coinbase for allegedly operating as an unregistered securities platform and brokerage service and evading disclosure requirements meant to protect investors. The regulator similarly filed charges against Binance, accusing it of violating US securities laws. The lawsuits, if successful, could transform the crypto market and assert the SEC's jurisdiction over the industry, which has argued that tokens do not constitute securities.
Former Coinbase manager, brother agree to settle SEC insider trading charges
Former Coinbase product manager, Ishan Wahi, and his brother, Nikhil Wahi, have agreed to settle civil charges filed by the US Securities and Exchange Commission (SEC) related to the insider trading of crypto asset securities. They are accused of trading ahead of at least nine announcements about crypto asset securities that would become available on Coinbase's platform. The brothers previously pleaded guilty to the charges of providing confidential information. Ishan Wahi was previously sentenced to two years in prison and Nikhil Wahi to 10 months in prison. Neither brother received a penalty in this settlement.
US SEC sees decentralised crypto platforms as exchanges, seeks public input
The SEC voted 3-2 to take additional comments from the public after crypto firms criticised the plan as vague and aimed at roping in decentralised finance platforms, also known as DeFi platforms that would otherwise not be subject to the regulator's oversight.
US court questions SEC's rejection of Grayscale's bitcoin fund proposal
The SEC rejected Grayscale Investment LLC's application to convert its flagship spot Grayscale Bitcoin Trust (GBTC) into an exchange-traded fund (ETF) last June, arguing the proposal did not meet anti-fraud and investor protection standards.
Binance stablecoin backer says US SEC has labeled token an unregistered security
The firm behind Binance's stablecoin, Paxos Trust Company, said the U.S. Securities and Exchange Commission (SEC) has told the company it should have registered the product as a security and is considering taking action against the platform.
Bankman-Fried fraud charges sidestep debate over how US law sees crypto
Bankman-Fried, 30, was indicted on two counts of wire fraud and six conspiracy counts last month in Manhattan federal court for allegedly stealing FTX customer deposits to pay debts from his hedge fund, Alameda Research, and lying to equity investors about FTX's financial condition. He has pleaded not guilty.
SEC says it's not violating Elon Musk's right to free speech
The SEC argued that doing its job in the interest of shareholders and markets outweigh Musk's interest in being able to tweet about Tesla without Tesla's approval.
Regulators circle FTX as rival exchanges try to calm investors
The implosion of FTX, once a darling of the crypto industry with a $32 billion valuation as of January, has spurred investigations by the US Justice Department, the Securities and Exchange Commission and Commodity Futures Trading Commission.
New crypto oversight legislation arrives as industry craters
This year crypto investors have seen prices plunge and companies collapse with fortunes and jobs disappearing overnight.
EY to pay $100 million to settle U.S. charges of staff cheating on accountant exams
"EY acknowledges the findings determined by the SEC," said Brendan Mullin, EY media relations director, adding that the firm's response has been "thorough, extensive and effective."
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