Under the proposed expansion of Exchange Act Rule 3b-16, which garnered a 3-2 vote among commissioners, DeFi platforms would be included as "exchange" systems as regulators ramp up securities laws.
What distinguishes a ‘core developer’ from anyone interested in the project? The answer is control and authority: core devs have committed access and they can decide where the project is heading.
Vishal Gupta said he would pursue an undisclosed new blockchain-based project, stating in a Twitter thread that it was “time for me to move on” but played coy on his future plans.
Appearing before the Subcommittee on Financial Services and General Government, Gensler presented his agency’s Fiscal Year 2024 budget request of $2.436 billion, a 12% increase on the previous year.
The NYAG filed charges against exchange KuCoin last week over failing to register as a securities and commodities broker-dealer while ETH was expressly labeled a security in the charges.
The securities regulator proposed new regulations for cybersecurity among financial firms that could spill over to digital assets, requiring greater disclosures after breaches.
Signature Bank was under federal investigation for suspected money laundering by its crypto clients before the New York financial institution was taken over by state and federal regulators.
When Gary Gensler says that Bitcoin is not a security or refers to its unique history, what he is referring to is the legal character of Bitcoin as it existed in 2009 and continues to exist in 2023 as BSV.
As per the legal opinion of both the chairman of the Securities and Exchange Commission and the New York Attorney General, Ethereum, and most other tokens sold via ICO, are unregistered securities.
The projects, which Richard Heart promised would revolutionize the industry, were crowdfunded by more than $1 billion in funds in an ICO, but Heart has yet to deliver on his promises.
Wall Street Journal recently reported on internal communications that poke larger holes in Binance’s repeated assertions that the Binance.US exchange is an independent entity.
To be classified as a security, the "investment," the "efforts," and the "third party" identified in the Howey test should not be completely unrelated to any interest in the "common enterprise."
