The U.S. Chamber of Commerce is backing crypto exchange Coinbase in its legal battle with the SEC, calling the agency's actions illegal. The U.S. Chamber of Commerce filed an amicus brief on May 9 criticizing the U.S. Securities and Exchange Commission (SEC) in its case against crypto exchange Coinbase.
SEC chief Gary Gensler was not always on a crusade against crypto. An old video even shows him claiming that most crypto assets are commodities. The video circulating on Twitter shows Gary Gensler giving a talk as part of a blockchain course at MIT in 2018. At the time, Gensler was the professor of the graduate course "Blockchain and Money."
Congressman Warren Davidson, Ohio’s 8th District in Congress, says he is introducing legislation to fire SEC Chairman Gary Gensler. An Executive Director role will replace the Securities and Exchange Commission (SEC) Chairman, and former chairs of the SEC will be ineligible, the Congressman said.
The U.S. increased pressure on the crypto industry this week. Regulators sued Tron founder Justin Sun and several of his prominent supporters. Moreover, the warned crypto exchange Coinbase that it might take enforcement actions.
Is the Ethereum Blockchain a platform on which cryptos are created and traded that qualify as securities? According to Gary Gensler, Chair of the U.S. SEC, the answer to this question is YES. The discussion about this is not new, but after the difficult crypto year 2022 with the collapse of FTX and other crypto schemes, crypto regulation takes on increased urgency.
The U.S. Securities and Exchange Commission (SEC) announced an award of more than $5 million to a whistleblower whose information led to a successful SEC enforcement action. The whistleblower provided a tip and additional information that helped SEC staff shape its investigative strategy, identify witnesses, and draft documents and information requests. The whistleblower also internally reported concerns before submitting information to the SEC.
The U.S. Securities and Exchange Commission charged Nader Pourhassan, the former CEO of CytoDyn Inc., with fraud and insider trading for misleading shareholders about the progress of a clinical research treatment for COVID-19 and HIV. According to the SEC complaint, Pourhassan repeatedly issued press releases exaggerating CytoDyn's progress on leronlimab, an antibody administered to patients in clinical trials to treat various diseases.
A proposed overhaul of U.S. equity trading rules was met with skepticism by some financial firms, who said, "If it ain't broke, don't fix it." However, other traders welcomed the proposed changes and their promise of greater transparency and improved market access for investors.
