The US Securities and Exchange Commission wants to reset its ties with the Crypto Industry before the Congress is confirmed by the Congress. The latest attempt was on Friday’s round table, hosted at the SEC headquarters in Washington, DC, and included a dozen lawyers who represented various ideas and positions within the crypto industry.
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State
The SEC reset began when Acting Chair Mark Yoda launched a crypto task force and withdrew his agency in Staff Accounting Bulletin 121, abandon several ongoing cases, stop some more and publish numerous staff statements on how the agency can see the mining of the Mem Queens and the proof off work.
Why does it make a difference
The SEC is currently the most important federal regulator in the crypto. Although his sister agency, the Community Future Trading Commission, may be a regulator who can one day oversee the crypto spot markets, it is now the SEC that most companies in the sector see for guidance, of course, that they can do it.
Is breaking it
The round table was divided into two parts (three, if you count the introductory remarks of three commissioners): Former SEC Commissioner and Paradis Strategy founder Troy Paradez, a moderate panel discussion of about 90 minutes, and 90 minutes of public, is still the most common.
You can read the Quandsk coverage of the panel discussion on this link.
Although the central question during this debate was – as has been for years – when and how security is a crypto or crypto transaction, panelists touched everything from crypto role in promoting renasmare, how companies should work.
What does the Hoyi test mean with his analysis by Blupestant CEO and Georgetown Law Professor Chris Bromer: We are basically saying that when you are saved, there is a problem with investor protection. The common enterprise prong that we are all familiar with is really indicating a kind of trouble. “
“It really leads to the contradictions of information, and then the question of profit goes to the psychology, greed and fear of the investors, such as things that can distort the decision -making,” he said. “And basically, when you have all those factors together, you have the necessary revelation (rule).”
Sara Brennan, General Counselor of Delphi Ventures, said the SEC’s approach has so far restricted several crypto projects. Although many crypto projects are aimed at being a wider initial distribution, “Specter of Securities Law applications” means that many projects work as if they would go to the public rather than accept the crypto aspects of their projects.
He said, “We see that the maximum token product is… there are different ways that people are artificially supporting the price and it has been generally, I will say, the market is some kind of toxic.”
Former SEC lawyer John Red Starc said “the economic reality of transactions” is important.
“However, you want to see it, people who buy crypto are not going to collect,” he said. “We all know that they are investors, and the SEC mission is to protect investors.”
It remains to be seen how the SEC efforts will continue, but the agency is playing a more active role in engaging in public with these questions and it seems that the industry is responding to it. The SEC Auditorium was sometimes complete three -quarters, not to say anything about anyone who joined the current series.
- When the Congress talks about the crypto bills of its land, the regulators are already at work: Jesse Hamilton noted in an ancient analysis that came out of the SEC’s POW mining statement and refreshing the threat of OCC’s reputation.
- The SEC says the proof off work does not mobilize the laws of crypto mining securities. The agency said in a staff statement that the Poly and Solo -proof work mining is beyond the SEC’s jurisdiction.
- The US bank agency reduced the ‘risk of reputation’ from examinations after citing crypto sector affairs: He told national banks on Thursday that the currency controller’s office removed the “risk of reputation” from his surveillance book.
- XRP zoomed 10 % as Garling House says that SEC is leaving a case against Republic: The CEO of Ripal, Brad Garling House, said the SEC had agreed to quit the appeal of the July 2023 decision, stating that Ripal had not violated the Federal Securities laws in selling XRP through the exchange through exchange, and that the matter itself was near.
- The digital chamber got the new chief because the crypto lobby friend hugs Washington: The founder and CEO of the digital chamber, Perian Boring, is decreasing next month and becoming the chair of his board. The president of the lobby organization, Cody Carbon, will take over as the CEO.
- Crypto Exchange Bethham raided by South Korean prosecutors on allegations of embezzlement: report: South Korean prosecutors have launched an investigation into the Crypto Exchange Bethem, reviewing the allegations of embezzlement.
- Sulana inside the pump to dominate the trading. Pump.Phone is launching a token sweep service in an attempt to get a piece of fees made by automated market makers.
- Got Butt founder Alexei Andrewen proved a crime for manipulation of wire, the market: Russian citizen, Alexei Andrewen, who told Quindsesk in 2019 that he had operated a wash trading service to make crypto corridors, which seems to have more liquidity and market capitalization than he, in fact, in the application agreement.
- The Exchange Executive says, with crypto, partially 24 hours of stock trading is a Nice deck shift. Jiang Bo, head of Nes Deck’s American Equity and Exchange traded products, said Nes Dack and the New York Stock Exchange are working towards at least 24 hours of trade.
- SEC Chair nominee Paul Atkins faces the Senate panel next week: SEC Chair nominee Paul Atkins and the nominated candidate of the compfer, Jonathan Gold, will face the Senate’s banking committee next week to hear their confirmation.
- The US government removed the storm’s cash restrictions: Within a few months of the fifth Circuit Court of Appeals, it is decided that smart contracts cannot be approved at the Treasury Department’s foreign asset control office, OAC has lifted its sanctions against Crypto Mixer Tornado Cash.
Tuesday
- 15:30 UTC (11:30 pm ET) The Federal Judge, who heard the status conference in this case under the supervision of the US Department of Justice’s case against the founders of Samurai Wallet. According to my colleague, Chin Leagon, who participated, a 7 -minute long hearing focused on some procedures but did not find the matter.
Thursday
Friday
- 17:00 UTC (1:00 pm) The US Securities and Exchange Commission organized a round table program with the crypto industry and legal experts from the SEC staff.
- (Reuters) Another tension for Bird Flu – this time H7N9 – has targeted the United States for the first time since 2017. It is at the top of the ongoing H5N1 epidemic.
- (CNN) Stephen Gardner, CEO of Amtrak, said he would be relieved to guide the Kosi Public Transit Company in the White House direction.
- (Bloomberg) After Bloomberg reporting Quandsk last month, after Quandsk’s reporting, after reporting Quandsk, the exchange is interested in the firm, the Queen Base is in advanced dialogue to get the platform deribet.
- (Wired) A former MATA employee wrote a book about his experiences at the company and Meta is moving everything to limit her distribution. After that, careless people stand up to become the highest seller on the Amazon.
- (Bloomberg) Bloomberg profile the role of New York Democrat Kirsten Glabernd in pushing for crypto legislation in the Senate.
- (Polytico) The Trump administration’s USAID plans include reforming it and “Liverg (ING) blockchain technology” to secure transactions, although the document obtained is not much detailed. The document states, “All distributions will also be secured and searched by blockchain technology to enhance security, transparency and detention altogether.” If you are one of the people who are emphasizing blockchain integration with the US government, let’s chat.
- (Guardian) The Trump administration presented more than 200 Venezuela’s generation in a prison in El Salvador, which potentially violates the court order and without hearing or trial. While the administration said in public statements that all 238 people had ties to the train de Aragwa gang, who was directing the Venezuelan government in return, officials said in court documents that many people coming to Al Salvador do not have a criminal record. Many of them say they were not guilty and did not have collective relations. Some people allegedly signed exile papers and expected to return to Venezuela. According to the Times, US intelligence agencies have also apparently found that the TDA was not linked to the Venezuelan government.
If you should discuss the next week or any other impression that you have ideas or questions that you email me at nik@cOindesk.com or find me at Bluesky @nikhileshde.bsky.social.
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See you next week!
