Congressman Claims SEC is Misusing SAB 121 to Target Crypto Custody Firms
Congressman Ritchie Torres chastised the US SEC for misusing the SAB 121 rule, which defies generally accepted accounting principles. Crypto custody service providers are under increasing pressure from the U.S. Securities and Exchange Commission (SEC) to disclose their assets on balance sheets, citing the controversial SAB 121 accounting rule. U.S. Congressman Ritchie Torres has criticized […]
SEC Commissioner Cautiously Backs Donald Trump DeFi Project
Donald Trump DeFi project received a cautious nod from the US SEC Commissioner, who wishes it “Godspeed” without making any direct endorsements or regulatory commitments. According to reports, the US SEC Commissioner has cautiously endorsed the Donald Trump DeFi project, World Liberty Financial (WLFI). The project has lately experienced significant momentum, particularly due to its […]
US SEC Increases Crackdown On Some Crypto, Price Dip Next?
The US SEC expanded the list of tokens in its securities classification in the Binance lawsuit. This may potentially affect the price of these tokens. In the Binance lawsuit, the United States Securities and Exchange Commission (SEC) has incorporated supplementary tokens into its securities classification.Axie Infinity (AXS), Filecoin (FIL), and Decentraland (MANA) are among the […]
BinanceUS, Fireblocks Partner to Strengthen Asset Security
Fireblocks, a digital asset custody company, has partnered with BinanceUS, to enhance the confidence of users and regulators by guaranteeing the secure management of customer assets. BinanceUS, established in 2019, has been the subject of intensive regulatory scrutiny, particularly in the wake of a significant enforcement action against its parent company, Binance, and its founder, […]
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 […]