U.S. SEC Regulatory Trends
Since June 5, the U.S. SEC has consecutively filed lawsuits against Binance and Coinbase. What are the contents of the SEC's lawsuits? Can Binance and Coinbase weather the storm? What new policies will the SEC introduce for the cryptocurrency market?
08:20 SEC ends investigation into Yuga Labs
ChainCatcher news, according to The Block, the SEC has concluded its investigation into Yuga Labs. Yuga Labs posted on the X platform: "After three years, the SEC has officially concluded its investigation into us, which is a significant victory for NFTs and the entire creator ecosystem."Recently, the SEC has dropped investigations into companies such as Robinhood, Gemini, UniSwap Labs, MetaMask, and OpenSea, and reached settlements with Coinbase and Kraken. Meanwhile, the SEC is still in litigation with Ripple and is seeking to resolve allegations against TRON founder Justin Sun.
08:02 The U.S. SEC offers a $50,000 reward to encourage employees to resign or retire
ChainCatcher News: The U.S. Securities and Exchange Commission (SEC) offers a $50,000 reward to encourage employees to resign or retire.
07:59 The SEC announced the list of members for the cryptocurrency working group, which will provide advice to the committee on matters related to cryptocurrencies
ChainCatcher News, the U.S. Securities and Exchange Commission (SEC) announced today the list of members for its cryptocurrency working group, which will provide recommendations to the Commission on cryptocurrency-related matters.The working group is composed of members from the Office of the Acting Chair and other divisions of the Commission. SEC Commissioner Hester Peirce stated, "The cryptocurrency working group demonstrates deep expertise and a strong commitment to finding workable solutions to complex cryptocurrency regulatory issues with the help of other excellent staff at the Commission and the public."
23:14 Cryptocurrency exchange Kraken stated that the U.S. SEC agreed to withdraw its lawsuit against it
ChainCatcher news, according to official news, cryptocurrency exchange Kraken stated that the U.S. SEC has agreed to withdraw its lawsuit against it. Currently, SEC staff have in principle agreed to dismiss the lawsuit against Kraken, not admitting any wrongdoing, not paying fines, and not changing its business.
09:03 The market is accelerating its decline, but the regulatory "ice" is beginning to thaw
In the current anxious market conditions, a series of recent actions by U.S. financial regulators suggest that the previous hardline stance on cryptocurrencies is softening, and the regulatory "ice" filled with hostility from the last administration is slowly melting.
08:04 The judge dismissed the lawsuit by the U.S. SEC against Hex token founder Richard Heart
ChainCatcher news, according to Bloomberg, a federal judge in Brooklyn, New York, has dismissed the lawsuit filed by the U.S. SEC against cryptocurrency founder Richard Heart. The founder was accused of illegally using millions of dollars of investor funds to purchase a 555-carat black diamond. The SEC alleged that Heart raised over $1 billion through the sale of unregistered securities, including Hex tokens and other digital assets related to his PulseChain blockchain network and PulseX decentralized finance platform. In the initial lawsuit, the agency stated that Heart and PulseChain used at least $12.1 million of investor funds for personal luxury purchases, including diamonds, expensive watches, and high-end cars. Judge Carol Amon found that the SEC failed to provide sufficient facts to prove that these actions occurred in the United States, allowing the SEC to amend its complaint to "correct the identified deficiencies."
21:32 The Spring of Cryptocurrency Regulation: An Overview of Recent SEC Settlements and Dismissals
The US SEC rectifies "wrongful convictions," bringing regulatory hope for cryptocurrency.
21:18 U.S. SEC Commissioner Releases "Crypto 2.0: Regulatory Whip": Coinbase Enforcement Action Damages Regulatory Credibility
ChainCatcher News, U.S. Securities and Exchange Commission Commissioner Caroline A. Crenshaw released "Crypto 2.0: Regulatory Whiplash," which points out that the enforcement action against Coinbase has damaged the credibility of the SEC's enforcement division, leading people to mistakenly believe that the enforcement resources are deployed based on election cycles or in favor of the wealthy, inviting criticism and sowing seeds of distrust in the government.The SEC's mission is to do the right thing for investors, issuers, and the capital markets.
09:31 SEC: Memes are not securities, but fraudulent activities will still be regulated
The SEC stated in a declaration that memecoins "generally have limited or no use or functionality" and "often experience significant market price volatility."
07:57 The U.S. SEC has announced the dismissal of the civil enforcement action against Coinbase
ChainCatcher news, according to market news, the U.S. Securities and Exchange Commission (SEC) has announced the dismissal of the civil enforcement action against Coinbase (COIN.O).The case dates back to June 2023 (two years after Coinbase went public), when the SEC sued Coinbase, accusing it of merging the three typically separate functions of broker, exchange, and clearinghouse, in violation of U.S. securities laws.
