Ripple’s chief legal officer, Stuart Alderoty, has raised concerns about the upcoming statements of Gary Gensler, the U.S. Securities and Exchange Commission (SEC) Chairman, during his appearance before the Senate Committee on Financial Services. According to Alderoty, Gensler’s statements may be misleading and misrepresent the nature of the crypto asset securities market. This article delves
Regulation
The U.S. Securities and Exchange Commission (SEC) has again deferred its decision on the ARK 21Shares Bitcoin Exchange-Traded Fund (ETF), causing further uncertainty in the market. This latest filing, dated September 26, highlights the SEC’s ongoing indecisiveness regarding the approval and listing of the ETF proposed by Cboe BZX. Cboe BZX initially submitted the filing
The U.S. Securities and Exchange Commission (SEC) has raised objections to Celsius’ proposed reorganization plan, which involves cryptocurrency exchange Coinbase acting as a distribution agent to return funds to former users affected by the company’s bankruptcy. The SEC argues that Coinbase’s role goes beyond the typical duties of a distribution agent. Furthermore, the regulator points
Hong Kong’s Securities and Futures Commission (SFC) has implemented new measures aimed at enhancing investor education and strengthening the regulatory framework in light of recent incidents, such as the JPEX debacle. The SFC aims to improve transparency, combat fraud, and establish a dedicated channel for sharing information on suspicious activities of Virtual Asset Trading Platforms
India’s crypto ecosystem has received a much-needed boost following the conclusion of the G20 summit. As the world’s most influential economies, the G20 fully endorsed the recommendations from the IMF and FSB Synthesis paper, providing clear guidance for the policy and regulatory framework of crypto assets. This article explores the key aspects addressed by the
The regulatory spotlight is once again on OpenAI, as Poland’s Personal Data Protection Office opens a case against the company. This comes after an individual lodged a complaint against OpenAI’s popular ChatGPT app, alleging unlawful data handling and lack of transparency. As the investigation unfolds, concerns regarding OpenAI’s data processing principles and potential violations of
Ripple (XRP) CEO Brad Garlinghouse, accompanied by other top executives from the company, recently met with members of the U.S. Congress to address the crucial issue of regulatory clarity in the cryptocurrency industry. Garlinghouse shared this information on social media platform X (formerly Twitter), highlighting the importance of engaging with elected officials who propose bills
The Securities and Exchange Commission (SEC) has expressed concerns about the lack of regulation in the cryptocurrency industry. The agency considers many cryptocurrencies as securities and thus subject to federal securities laws. This strict stance by the SEC has resulted in increased scrutiny and enforcement actions against companies involved in initial coin offerings (ICOs) that
The New York State Department of Financial Services (NYDFS) has announced new requirements for virtual currency business entities operating within the state. These rules, outlined on September 18, primarily focus on cryptocurrency delistings and aim to protect consumers and ensure the safety and soundness of the industry. The NYDFS’s latest guidelines build upon the original
Japan-based cryptocurrency exchange JPEX recently announced a pause on one of its key features, Earn Trading, starting from September 18. This feature allowed users to deposit assets and provide liquidity in exchange for rewards. However, JPEX decided to delist all Earn Trading transactions due to undisclosed reasons. While existing orders will continue to generate rewards
