Robinhood’s crypto division has agreed to pay a $3.9 million fine following a settlement with a California investigation into its past practices. This settlement was reached after California Attorney General Rob Bonta stated that Robinhood Crypto had prevented users from withdrawing their digital assets from 2018 to 2022. Furthermore, the company failed to fully disclose
Regulation
The US Securities and Exchange Commission (SEC) recently charged and settled with hedge fund Galois Capital Management LLC over a private fund managed by the firm that primarily invested in crypto. The charges were related to Galois Capital allegedly failing to comply with client asset safeguarding requirements, particularly crypto assets that were labeled as securities
The US Securities and Exchange Commission (SEC) Commissioner, Mark T. Uyeda, recently highlighted the need for the development of specialized S-1 registration forms tailored to digital asset securities. Speaking at the Korea Blockchain Week 2024 event, Uyeda emphasized the importance of updating the SEC’s regulatory tools to effectively address the unique characteristics of digital assets.
The recent filing by the US Securities and Exchange Commission (SEC) regarding the proposed repayment strategy in the FTX bankruptcy case has raised significant concerns within the industry. The plan to repay creditors using stablecoins or other digital assets has prompted the SEC to reserve the right to challenge these transactions under federal securities laws.
Congressman Wiley Nickel (D-NC) recently made headlines for his strong criticism of the US Securities and Exchange Commission (SEC), accusing the agency of undermining trust in the regulatory system. He specifically called out the SEC’s “regulation by enforcement” approach, labeling it as a “blatant abuse of power” that could potentially stifle digital innovation in the
Recently, news broke that Telegram CEO Pavel Durov has been released from prison but placed under judicial supervision with strict conditions. One of these conditions includes the requirement to post a hefty €5 million bond. Additionally, Durov is not allowed to leave the French territory and is mandated to report to the police station twice
In a recent statement, the US Securities and Exchange Commission (SEC) highlighted the pressing need for retail investors to have more timely access to fund portfolio data. The existing regulatory framework mandates that registered investment companies provide periodic portfolio holdings data to the Commission and investors. However, this data is often delayed, leaving approximately 70
The Financial Times recently reported that crypto firms are increasingly shying away from the UK due to burdensome and time-consuming regulatory processes. According to law firm Reed Smith, registrations for crypto exchanges and custodian wallet providers with the Financial Conduct Authority (FCA) have seen a significant drop of over 50% in the past three years.
The Nigerian Securities and Exchange Commission (SEC) recently announced that two local crypto exchanges, Busha Digital Limited and Quidax, have received an “Approval-in-Principle” to start operating under the Accelerated Regulatory Incubation Program (ARIP). This initiative was created to onboard operational firms before the release of the Rules on Virtual Asset Service Providers in May 2022,
OpenSea CEO Devin Finzer recently announced that the company had received a Wells Notice from the US Securities and Exchange Commission (SEC). This notice indicates that the SEC views the NFTs traded on OpenSea as securities, setting the stage for a potential regulatory battle. In response to the SEC’s actions, Finzer expressed his shock at