Includes news and discussions about regulatory measures, legal challenges, and the legal environment affecting cryptocurrencies.
SEC’s SAB 121 rule mandates banks to disclose crypto custodial assets, sparking criticism from Congressman @RitchieTorres over GAAP violations and innovation stifling. Despite challenges, major banks like $BK are entering the crypto custody market.
SEC pursues sanctions against @elonmusk for missing court-ordered testimony on $44B Twitter acquisition. Alleged emergency absence violated a May 31 order, with SEC warning of severe legal consequences for continued non-compliance, including potential arrest.
SEC approves options trading for BlackRock’s $IBIT Bitcoin ETF. This milestone highlights growing acceptance of crypto products in traditional finance and could drive mainstream adoption and new investment strategies. @BlackRock
Texas court dismisses @Consensys case against the SEC on procedural grounds. The judge did not address whether $ETH is a security, leaving crucial regulatory questions unanswered. Consensys plans to continue its legal efforts to clarify Ethereum’s status.
The U.S. CFTC appeals a court decision allowing Kalshi to offer election outcome contracts, citing concerns over market manipulation and election integrity. Kalshi claims regulated markets ensure better oversight. The ruling could set a precedent for future U.S. political prediction markets.
Texas court dismisses Consensys’ lawsuit against the SEC on procedural grounds. Judge ruled the case lacked a final agency action, making it unripe for review. Consensys plans to continue its advocacy, highlighting ongoing crypto regulation debates.
Coinbase CLO Paul Grewal and Ripple CLO Stuart Alderoty criticize the SEC’s term “crypto asset security” for lacking legal backing. The SEC’s inconsistent token regulation will be under scrutiny as all Commissioners, including Chair @GaryGensler, testify before Congress.
Ukrainian experts at the IT Ukraine Conference compared crypto tax proposals from the Ministry of Digital Transformation and NSSMC, highlighting the impact on market growth and innovation. Aligning regulations with international standards is key to post-war economic recovery.
Anthony Scaramucci urges @KamalaHarris to distance from SEC Chair Gary Gensler and Sen. Elizabeth Warren to foster crypto growth. He warns a Trump presidency could harm the digital assets sector. Progress in crypto legislation is crucial.
Rari Capital and founders settle SEC charges, agreeing to reimburse profits and face fines. The founders also face a five-year ban on similar activities. Rari Capital, once peaking at $1B TVL, shut down due to security breaches.
Ex-SEC official Michael Liftik criticizes the SEC for unclear digital asset guidelines amid enforcement actions. $RARI Capital settles with the SEC over misleading investors and unregistered broker activities. Ongoing congressional debates highlight the uncertainty in crypto regulation.
SEC fines Flyfish Club $750K for raising $14.8M through unregistered NFT sales. Commissioners Peirce and Uyeda dissent, viewing NFTs as utility tokens. This action is part of a broader SEC crackdown affecting platforms like $COIN and @OpenSea.
$XRP whales transferred $23.8M in coins following Ripple’s legal victory over the SEC. Analysts see bullish signs with re-accumulation and low volatility. Key transactions include 20.8M $XRP to Bitstamp and 20M $XRP from Upbit.
Bitcoin breaks $60,000, predicted to hit $90,000 by year-end. TEPCO explores solar-powered mining. MicroStrategy acquires 18,300 BTC. SEC fines on crypto firms surge 3000% since 2023. Coinbase’s cbBTC boosts Bitcoin liquidity and usability.
