SEC’s Stance on Bank Crypto Custody Services Remain Unchanged
The United States Securities and Exchange Commission has evidently “dug in” on its stance on a rule that would restrict crypto custody services for regulated financial firms. SEC chief accountant Paul Munter addressed a banking conference on September 9 and addressed the agency’s regulatory posture on crypto asset accounting. He addressed SEC Staff Accounting Bulletin […]
SEC Crypto Enforcement Soars to $4.7B from $150.3M in 2023
The US SEC has implemented enforcement actions against crypto firms and executives in 2024, totaling nearly $4.7 billion, representing a more than 3,000% increase from 2023. According to a report from Social Capital Markets on Sept. 9, the SEC’s record-setting year was primarily attributed to its “largest enforcement action to date,” a $4.47 billion settlement […]
FTX, Emergent Settles Over $600M Robinhood Shares Claim
Emergent Technologies has agreed with the bankrupt crypto exchange FTX regarding acquiring over $600 million in Robinhood shares. FTX CEO John Ray III filed a motion in a Delaware Bankruptcy Court on September 6 that stated the company will reimburse Emergent $14 million for administrative expenses associated with its withdrawal of a petition to claim […]
Nigeria to Crack Down on Unregulated Crypto Exchanges
Nigeria’s Securities and Exchange Commission (SEC) intends to initiate enforcement actions against businesses and individuals who engage in unregulated cryptocurrency transactions. The local news agency Nairametrics reported on September 9 that Emomotimi Agama, the Director-General of Nigeria’s Securities and Exchange Commission (SEC), announced that Nigeria will take action against entities that attempt to offer cryptocurrency […]
Spot Bitcoin ETFs Record Combined $1.2B Outflows in 8 Days
In eight days, the 12-spot Bitcoin exchange-traded funds (ETFs) in the United States experienced a combined net outflow of $1.2 billion. Bloomberg data from September 9 indicated that investors withdrew approximately $1.2 billion from the 12 Bitcoin ETFs listed on the spot market between August 30 and September 6. Since their listing in January, this […]