Concerned that FIT 21 does not adequately safeguard investors, the White House has opposed the bill. Despite the bill’s potential to impact future crypto market laws, this step is still being made. Additionally, the statement highlights the administration’s readiness to collaborate with Congress to improve the digital assets’ legal framework.
In a statement issued on Wednesday, U.S. Securities and Exchange Commission Chair (SEC) Gary Gensler openly voiced his opposition to the FIT21 Act, also known as the Financial Innovation and Technology for the 21st Century Act. Gensler stated: “[FIT21] would create new regulatory gaps and undermine decades of precedent regarding
Optimistic signs have appeared for spot Ethereum exchange-traded fund (ETF) approval ahead of the SEC’s approaching deadline on Thursday. Depository Trust and Clearing Corporation (DTCC), has listed VanEck’s spot ETH ETF (“ETHV”) on Tuesday. Notably, Franklin Templton’s EZET made its entry into the same listing last month. Currently, the count
Uniswap Labs has finally responded to the SEC’s Wells notice, urging the agency to drop its enforcement action against the firm. Allegedly operating as an unregistered securities exchange and broker, the corporation has been in violation of securities laws, according to the April notification. According to Uniswap Labs, the SEC
U.S. Senate voted 60-38 on Thursday to overturn the controversial SEC policy, Staff Accounting Bulletin No. 121 (SAB 121), following the House’s lead. Despite this legislative push, President Joe Biden has pledged to veto the resolution, arguing it would undermine investor protections and financial stability. A bipartisan coalition, including a
In a recent disclosure to the United States Securities and Exchange Commission (SEC), Millennium Management, a prominent global investment management firm, unveiled its substantial investment in spot Bitcoin Exchange Traded Funds (ETFs). According to the filing, Millennium’s Bitcoin ETF holdings make up 3% of its $64 billion fund as of
Federal court orders Elon Musk to testify again in the Securities and Exchange Commission’s (SEC) investigation into his $44 billion Twitter takeover. The court ruled in favor of the SEC’s request after Musk refused to attend an initial interview in September 2023, claiming “harassment.” The investigation centers on whether Musk
No one in the cryptocurrency world is taking the US SEC’s regulatory actions regarding the industry’s future lightly. The chairman of the SEC has been the target of criticism from billionaire Mark Cuban, who claims that the chair has failed miserably in his duty to safeguard investors against fraud. Mark
US House of Representatives passed a resolution to overturn a contentious Securities and Exchange Commission (SEC) bulletin concerning accounting standards for cryptocurrency custodians. The resolution, passed by a vote of 228-182, garnered significant support from Republicans and 21 Democrats, underscoring growing tensions between legislative preferences and regulatory measures within the
In the ongoing legal battle between Ripple Labs and the United States Securities and Exchange Commission (SEC), significant progress has been made as both parties filed their final replies in the lawsuit’s remedies stage. The SEC challenged Ripple’s assertion of acting without recklessness and argued against any “widespread uncertainty” regarding
