In his testimony before the U.S. Congress, Chairman Gary Gensler cited the need to provide more protection for investors as a justification for the bump in the SEC's budget for the fiscal year 2023.
The securities regulator has issued policies for ICO issuers, digital asset exchanges, custodians, VASPs, and when assets qualify as securities, but the central bank is still hostile.
Just days since it issued a warning against Leefire, the SEC says that the same activities are now being propagated through Sengre, which sells SGC Coin.
The U.S. securities regulator approved Valkyrie's XBTO BTC Futures Fund to list on the Nasdaq Stock exchange as an ETF, stating that the application had met all its consumer protection requirements.
Mining Capital Coin lured investors with promises of guaranteed returns but ended up defrauding them of over $62 million, according to U.S. federal authorities.
In a settlement that the regulator made public recently, Nvidia agreed to a cease-and-desist order as well as a $5.5 million penalty without admitting or denying the SEC’s findings.
The securities regulator renamed the unit to reflect its focus on the industry, with Chair Gary Gensler saying it’s now “better equipped to police wrongdoing in the crypto markets.”
The SEC warned that Leefire, which is issuing an ICO and promising lucrative returns, isn’t licensed to service the local market with its pyramid-like products.
The 58 soliciting agencies include names such as 247 Crypto Trade, Crypto-TradingHub, and Elite Crypto Mines Inc. All firms are not registered with the SEC as required by U.S. securities laws.
The White House refers to these plans as its strategy to "modernize rules for digital assets," and they are expecting their efforts to rake in $4.9 billion in revenue by 2023.
The filing allows it to sell the stock from time to time in an “at the market” offering to finance repayment of corporate obligations and for working capital.
The thrust of SEC Chair Gary Gensler’s address may be already self-evident to many: that current laws already apply to digital assets regardless of how novel the technology may be.
