SEC chairman Gary Gensler compares stablecoins to casino poker chips
Gary Gensler, the chairman of the United States Securities and Exchange Commission, (SEC), has expanded on his “Wild West” analogy for cryptocurrencies, calling stablecoins “instruments for gambling at old-timey casinos.” Gensler told Washington Post columnist David Ignatius on Tuesday that most crypto projects dealt with securities that came under the SEC’s regulatory ambit, while others […]
Talk of SEC subpoenas rises at New York crypto event as regulatory monitoring grows
An attendee tweeted Monday morning, amid the hustle and bustle of the Mainnet 2021 crypto conference in New York, that he had seen an event speaker getting “served by the SEC” before they were supposed to take the stage. The article sparked conjecture regarding the legitimacy of the story, the recipient of the supposed subpoena, […]
Coinbase abandons plans for crypto lending product after scuffle with SEC
In its decision to withdraw its Lend product from the market after scuffle with SEC, the Coinbase alluded to the difficulty in obtaining regulatory certainty across the cryptocurrency industry. Coinbase , a cryptocurrency exchange based in the United States, has stated that it will not be continuing with its Lend crypto lending service. Coinbase explained […]
Ripple Keeps Thriving Outside U.S., Amid SEC’s Scrutiny
Despite the fact that Ripple’s legal battle with the SEC has had a negative impact on its business in the United States, the company has continued to grow outside of the country. Charles Gasparino of Fox Business has turned to Twitter to provide the information he has gotten from sources close to Ripple Labs’ top […]
Aussie crypto fund manager gets 7 years jail term for stealing $54M from investors
A fund manager was sentenced to 7 years in prison for running a $54 million Ponzi scheme. Aussie crypto fund manager gets 7 years for stealing $54M. Stefan He Qin, founder of two bitcoin hedge funds, was sentenced to over seven years in prison for defrauding investors of $54 million. The DoJ said on Sept. […]