SEC

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Forcing Utility On The SEC

The U.S. Securities and Exchange Commission under Chair Gensler is a rigid challenger of the crypto industry in its aggressive application of an age-old regime to digital assets.  Even without the 97 enforcement actions and billions in imposed penalties, the SEC has effectively impaired the industry from advancing digital innovation and technology by stalling approval …

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Arrival of Futures ETFs Stokes Bitcoin in DeFi

Bitcoin in decentralized finance has been surging since speculation strengthened that the U.S. Securities and Exchange Commission would finally approve an exchange-traded fund to invest in the world’s largest cryptocurrency. BTC deposited into Ethereum’s DeFi ecosystem as shown on DeFi Pulse’s “Bitcoin at Work” page, jumped 2% to 284,331 BTC since Oct. 14, when one …

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Fractionalization Makes NFTs Affordable… and Big Targets for Securities Regulators

Fractionalisation of NFTs is a key development in a maturing market. These assets amount to more than just a craze for artists to sell digital art at sky-high valuations. Non-fungible tokens are also being used in sophisticated ways such as collateral for lending products. Divvying up ownership of NFTs enables more people to hold a …

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A Call to Action: How to Mobilize and Save the Crypto Movement

Yesterday, Connor Spelliscy and Holmes Wilson argued that the cryptocurrency industry is confronting an existential crisis. In Part 2 of this Defiant Essay, Connor and Holmes issue a call to action and lay out a primer for mobilizing the community to rescue the movement from regulation that could significantly impede, or even cripple, the crypto …

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Crypto Endangered: Confronting An Existential Threat

In Part 1 of this Defiant Essay, Connor Spelliscy and Holmes Wilson argue that the cryptocurrency industry is confronting an existential crisis. The cause: unwise and unjustified regulation that could thwart the promise of the crypto movement.  Smart contracts may be unstoppable, but the crypto industry is not.  The U.S. government’s blessing has been crucial …

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Crypto is Hungry for a Political Leader From its Own Ranks

The blockchain industry is ready for one of its own to join the U.S. Congress, whether it’s Messari founder Ryan Selkis or someone else. That’s judging by reactions on the floor of Messari’s conference, Mainnet 2021, taking place at the Marriott Marquis in Manhattan this week. Yesterday Selkis said he was going to run for …

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Gensler Vows Action Against DeFi Platforms That Operate ‘Outside the Perimeter’

All cryptocurrencies will be regulated. Or else. That was the clear and unambiguous message Gary Gensler, the chair of the U.S. Securities and Exchange Commission, delivered Tuesday in a livestream with The Washington Post.  Gensler said there’s no question in his mind that digital tokens fit the definition of securities and are subject to federal registration …

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SEC is Reported to Have Started Inquiries on Other DeFi Dapp Makers Beyond Uniswap

U.S. regulators are looking at more decentralized finance players than just Uniswap, according to a person familiar with the matter.  Officials are making a broad-based inquiry into a number of platforms in DeFi, other than just the one into Uniswap Labs, according to a source with knowledge of the matter who declined to be named …

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Here’s the Latest on How U.S. Regulators Want to Crack Down on Crypto

Top U.S. lawmakers and regulators are taking steps to tighten their grasp on cryptocurrencies, or advocating for greater control over digital assets. Here are the bills, speeches and charges issued by U.S. government representatives and agencies in the past week:  Infrastructure Bill — Proposed on Aug. 1, a major infrastructure bill awaiting the Senate’s final …

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SEC’s Peirce Takes “Liberty-Loving” Perspective after Gensler Calls for Tighter Crypto Regulation

SEC Commissioner Hester Peirce is taking a “liberty-loving perspective” when it comes to cryptocurrency and DeFi, contrasting with statements by the agency’s chairman on Tuesday.  For Peirce, who joined a panel hosted by The Defiant and DeFi Watch on Aug. 4, if users are voluntarily deciding to trust the code over a company then they …

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A Blockchain Expert Might be the New SEC Head

Joe Biden’s new SEC chair may be, if not an advocate, at least very knowledgeable on blockchain technology. President-elect Joe Biden will be appointing MIT professor Gary Gensler as chair of the U.S. Securities and Exchange Commission, Reuters reported. Gensler is a Professor of the Practice of Global Economics and Management at MIT’s Sloan School …

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Sentiment Turning on Ripple After SEC Action

Ripple said Monday that the SEC is planning to file a lawsuit against the company on claims that it sold unregistered securities. And while the initial reaction of many crypto enthusiasts was to side with the US regulator, the tide has begun to change. The most notabe about-face came from Messari CEO Ryan Selkis, who …

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