Newsletter
Corporate Ether acquisitions declined 81% in the past three months, but the largest corporate ETH holders continued to scoop up billions of dollars in Ether.
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Securities and Exchange Commission (SEC) Crypto News
The Securities and Exchange Commission (SEC) serves as a cornerstone of United States financial regulation, ensuring fair markets and protecting against fraud. The emergence of cryptocurrencies like Bitcoin (BTC) challenged established norms. Despite initially not interfering in the crypto space, the SEC intervened during the 2017 to 2018 initial coin offering frenzy, asserting securities laws on tokens like The DAO (DAO).
Key legal battles followed, including halting the Telegram Open Network and suing Ripple for unregistered XRP (XRP) sales. In a significant move, the SEC sued Binance in June 2023, alleging unregistered securities sales, implicating prominent tokens such as Solana’s (SOL), Cardano’s (ADA), Polygon’s (MATIC), Filecoin (FIL), Cosmos (ATOM), The Sandbox (SAND), Decentraland (MANA), Algorand (ALGO), Axie Infinity’s (AXS) and Coti (COTI). Coinbase also faced charges related to its staking service.
These actions reverberated globally, as nations often model their regulations after the U.S., highlighting the SEC’s international impact. Through its interventions and legal battles, the SEC shapes the future of crypto regulation, ensuring the integrity of digital markets and influencing global financial landscapes.
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Acting CFTC Chair Caroline Pham said the move was intended to drive trading activity to US exchanges, rather than offshore ones “that lack basic safeguards.”
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The European Commission plans to expand ESMA oversight of MiCA crypto companies and trading venues, aiming to streamline EU markets and narrow the gap with the US.
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Citadel Securities argued that DeFi platforms offering tokenized US stocks should be regulated under securities laws and not get exemptive relief from the SEC.
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The United States Securities and Exchange Commission halted several ETF filings that proposed three-to-five times leverage on the underlying asset.
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In a Bloomberg interview, former SEC Chair Gary Gensler reiterated that Bitcoin stands apart from thousands of other crypto tokens, which he described as “highly speculative” assets.
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Paul Atkins spoke from the NYSE on Tuesday, saying that the SEC planned to unveil an innovation exemption for crypto projects ” in a month or so.”
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Nasdaq’s head of digital assets strategy, Matt Savarese, said the stock exchange is ready to answer any questions the SEC may have for its proposal for tokenized stocks.
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Self-custody of assets and financial privacy are both fundamental rights consistent with the pro-freedom philosophy on which the US was founded.
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A group representing major stock exchanges has urged the SEC to abandon its plan to grant an “innovation exemption” to brokers and crypto firms seeking to offer tokenized stocks.
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The push from the Nasdaq to increase option limits for the BlackRock Bitcoin fund shows Bitcoin markets are “breaking out of their training wheels.”
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The SEC’s 2025 agenda proposes clearer rules, safer market practices and stronger oversight for the crypto ecosystem, potentially influencing regulations worldwide.
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VanEck’s amended BNB ETF filing scraps all staking plans, unlike its Solana product, explicitly distancing itself from BNB staking amid regulatory risk.
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It comes several months after the SEC issued a similar no-action letter to DoubleZero, seen as a significant regulatory milestone for DePIN projects.
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Growing unrealized losses and falling NAV levels are threatening corporate crypto treasuries, making it difficult to raise capital for future digital asset investments.
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