SEC

 


SEC typically refers to U.S. Securities and Exchange Commission which "protects investors in the $3.8 trillion municipal securities markets that cities and towns rely on to provide neighborhood schools, local libraries and hospitals, public parks, safe drinking water and so much more". But it can also refer to the security and exchange regulation bodies of other countries.

SEC Chief to Testify Before House Committee on Crypto Oversight
SEC chief Gary Gensler will face questioning from the House Financial Services Committee on April 18 regarding his approach toward the crypto ecosystem. The committee will focus on Gensler's rulemaking and approach toward crypto assets and lay down a regulatory sphere for digital assets.
Freeport Launches Crowd-Ownership Platform for Warhol Prints
Freeport has received SEC approval to launch its crowd-ownership blockchain platform for a four-piece collection of Warhol prints, with each piece consisting of 10,000 shares and a minimum purchase of 10 shares per individual.
Titanium Blockchain CEO Sentenced to Four Years in Prison
Michael Stollery, the CEO of Titanium Blockchain, has been sentenced to four years in prison for his involvement in a cryptocurrency fraud scheme that raised approximately $21 million through an initial coin offering (ICO) in 2018. Stollery pleaded guilty to securities fraud, admitting to falsifying aspects of TBIS’ whitepapers, planting fake client testimonials on the TBIS website, and commingling ICO investors’ funds with his own.
Coinbase warns of losing crypto industry leadership
The U.S. SEC has issued a Wells notice to Coinbase. As a result, Coinbase warns that the U.S. government’s regulatory approach to crypto has created an uncertain and unstable environment. Meanwhile, other countries, such as France, the U.K., and the European Union, are building friendlier crypto regulation ecosystems and becoming crypto hubs, causing the U.S. to lose its status as the leading hub of the crypto sector.
US Crypto Crackdown Could Stifle Innovation and Weaken Dollar
The recent Wells notice issued by the SEC to Coinbase, along with other legal threats against crypto firms, has raised concerns among industry experts that the US crackdown on cryptocurrencies could stifle innovation and weaken the dollar. Some believe that the regulatory environment in the US is driving jobs, investment, and innovation offshore, to countries like Singapore, Hong Kong, and potentially Australia.
ARK Invest Buys Coinbase Shares Despite Wells Notice
Investment management firm ARK Invest, led by Cathie Wood, has resumed buying shares of Coinbase, purchasing 268,928 shares worth $17.88 million through its ARKK Innovation and ARKW Next Generation Internet exchange-traded funds on March 23. This came just a day after Coinbase's stock price fell by 21% due to news of the company receiving a Wells notice from the Securities and Exchange Commission (SEC).
Coinbase CEO Compares SEC to Soccer Refs in Criticism of Lack of Clarity Around Crypto Regulation
Coinbase CEO, Brian Armstrong, compared the SEC to “soccer refs” in a game of pickleball, criticizing the regulator for their lack of clarity around crypto regulation. The comments came after Coinbase revealed they had been issued a Wells notice, which typically precedes an enforcement action. The crypto community has widely condemned the recent notice, with many agreeing that the SEC has reversed its earlier position regarding Coinbase.
Coinbase Petitions SEC on Staking
Coinbase has submitted a "Petition for Rulemaking" to the SEC, arguing that staking should not be classified as securities. The petition argues that staking is not a monolithic concept, and core staking services do not meet the criteria of the Howey test. Coinbase cites historical precedents and urges regulators to consider the economic consequences of their actions.
SEC Scholars Program Opens Applications for Fall 2023 Internship
The SEC is accepting applications for its Scholars Program for Fall 2023. The program offers internships for undergraduate and graduate students in business and legal programs. The traineeships are paid and range from $15.09 to $35.27 per hour. The SEC encourages students with an interest in blockchain, computer science, and cybersecurity to apply.
US DOJ and SEC launch inquiries into Silicon Valley Bank collapse
The DoJ and SEC have started investigations into the sudden collapse of Silicon Valley Bank and the stock sales made by its financial officers leading up to its closure. The probes are in their early stages and may not result in charges or allegations of wrongdoing.

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