Daily Archives: September 12, 2022, 8:33 am

S.E.C.’s Gensler Doubles Down on the Need to Regulate Cryptocurrencies – The New York Times

The chair of the Securities and Exchange Commission, Gary Gensler, has repeatedly warned that cryptocurrencies must be regulated to protect investors. On Thursday he took a big step toward that goal, saying he will work with Congress to help create legislation that would increase crypto oversight. Mr. Gensler doubled down on the need for regulation, saying crypto start-ups wouldn’t prosper…

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Billy McFarland Is Out of Jail and Ready for His Next Move – The New York Times

Mr. McFarland, who in 2018 entered guilty pleas for fraud stemming from his role in organizing the Fyre Festival — a Coachella-for-the-Bahamas affair that went spectacularly awry and established him as the Elizabeth Holmes of party promoters— had been a free man for all of 15 minutes. And he didn’t seem inclined to lay low after spending close to four…

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A Bitcoin ETF Is Long Past Due, Crypto Lobbyists Say in New Report Taking Aim at SEC

The question of whether the Securities and Exchange Commission (SEC) should be forced to permit spot-based bitcoin exchange-traded-funds (ETFs) is now inching through the courts, but industry lobbyists are making another public push to declare the regulator is wrong in opposing the product. The Digital Chamber of Commerce, a Washington, D.C.-based advocacy group, commissioned a report set for release Monday…

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Remarks at SEC Speaks 2022 by Gurbir S. Grewal

So let’s talk about the digital elephant in the room. Every day I – and I’m guessing most of you – read and hear myriad jeremiads against the SEC, and Enforcement in particular, for “picking winners and losers” and “stifling innovation” in the crypto asset space. I’ve spoken about this before, and don’t intend to repeat here everything I’ve already…

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