Tag Archives: SEC

The hot demand for investment securities linked to bitcoin does not appear to be moving the U.S. Securities and Exchange Commission’s stance toward other products more directly linked to the cryptocurrency. SEC Chair Gary Gensler said he still has concerns about investor protection in the $2.5 trillion market for crypto assets. “Investors aren’t protected the way they are, whether they go into the stock or bonds markets that we’ve overseen so long,” said Gensler at Yahoo Finance’s… Source link

In a flipping of the script, a leading cryptocurrency project and its co-founder are suing the Securities and Exchange Commission (SEC). The lawsuit was filed Friday by Terraform Labs, the company behind the Terra decentralized finance protocol, and its co-founder Do Kwon, who confirmed in the filing that he and his company were served with SEC subpoenas at last month’s Messari crypto conference in New York City. Terra’s Luna cryptocurrency is currently the 11th largest by market… Source link

At least one voice at the U.S. Securities and Exchange Commission (SEC) is growing louder in speaking out against the way the agency is regulating cryptocurrencies. Commissioner Hester Peirce, affectionately dubbed “crypto mom” by crypto enthusiasts for her understanding of the technology, has not been shy about her desire to provide a more clear regulatory framework around the industry. But in a new interview with Yahoo Finance, she may have delivered her harshest assessment yet. “It is… Source link

Senator Elizabeth Warren on Monday called on the Securities and Exchange Commission to look into trades made by senior Federal Reserve officials over the course of 2020. The Massachusetts Democrat asked the SEC to investigate the extent of trading carried out by at least three high-ranking officials at the central bank, including the timing of the trades and whether or not those trades “may have been influenced by non-public information.” The request comes after reporting last Friday… Source link

There’s a storm brewing between the booming cryptocurrency sector and regulators charged with overseeing a white-hot industry, where potential risks to investors are proliferating almost as fast as new products.  Tuesday’s Senate testimony by newly-appointed Securities and Exchange Commission Chairman Gary Gensler did little to shed light on a number of crypto-related controversies — including an evolving battle with Coinbase (COIN), the premier crypto trading platform trying to offer a… Source link

The U.S. Securities and Exchange Commission (SEC) signaled a big change in policing cryptocurrencies last week, as one of the largest crypto exchanges in the world revealed it was blocked from launching a new crypto lending product. As Coinbase CEO Brian Armstrong explained, the SEC took issue with the company’s plans to pay interest to customers so they could earn up to 4% on their crypto assets. The particular crypto asset Coinbase was preparing to offer 4% on was the least volatile asset… Source link

The hands-off regulatory position the U.S. Securities and Exchange Commission (SEC) has long taken when it comes to managing cryptocurrencies appears to be coming to an abrupt end. On Tuesday, Coinbase co-founder and CEO Brian Armstrong went public with the battle he says the SEC has now picked with his company’s proposed lending product. In a long thread on Twitter, Armstrong chronicled his attempts to work with the SEC to explain how the company’s customers would be able to earn interest on… Source link

U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler will lean on corporate disclosures as the Biden administration sets its eyes on curbing anti-competitive behavior. In a meeting of the newly-formed White House Competition Council set to take place later this week, Gensler will also emphasize the agency’s examination of the impact of revenue models like payment for order flows, a senior SEC official told Yahoo Finance. The SEC is one of six independent agencies scheduled to… Source link

By Herbert Lash NEW YORK (Reuters) -Shares of Robinhood Markets Inc, a popular gateway for trading meme stocks, tumbled nearly 7% on Monday on news that PayPal Holdings Inc may start an online brokerage and a report saying regulators were looking at a possible ban on a practice that accounts for the bulk of the company’s revenue. Shares of Robinhood extended an early decline after CNBC reported that PayPal was exploring ways to let U.S. customers trade individual stocks on its… Source link

(Bloomberg) — Robinhood Markets Inc.’s wild week took another turn on Friday morning when it said that some early investors who filed to sell millions of shares won’t be able to do so until they get clearance from the U.S. Securities and Exchange Commission. Shares of the company climbed as much as 17% at the open in New York before parting some of the gains to trade at $50.33 in late morining in New York. The trading platform said no sales can be made off of the Thursday filing until an… Source link