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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInCrypto and the US Government Are Headed for a Decisive Showdown | WIRED
“The regulatory landscape in the US is nebulous at best,” says Brandon Neal, the chief operating officer of Euler, a decentralized finance project. “It not only creates a lot of confusion in the industry and the public, but I think it potentially stifles innovation.” To many securities law experts, however, there’s nothing nebulous about it. […]
Congress looks favorably on crypto as FTX fuels huge increase in donations – The Washington Post
It’s been an ugly summer for the cryptocurrency industry everywhere but on Capitol Hill. Despite a pileup of a bad news — layoffs at major companies, ongoing hacks, and the collapse of several high-profile crypto projects that have devastated Main Street investors — the sector is on a hot streak in Congress. Source: Congress looks […]
What is regulation by enforcement — and is it bad? – Protocol
Congress has inched toward new rules for crypto, often with support from the industry. Sens. Kirsten Gillibrand and Cynthia Lummis have indicated their bipartisan crypto bill is unlikely to pass this year, but could have sections approved through committee. Sens. Debbie Stabenow and John Boozman introduced a separate bipartisan bill on Wednesday that would give […]
Crypto Becomes Next Financial Sector Under US Lawmakers’ Diversity Lens
Rep. Maxine Waters (D-Calif.), the chairwoman of the House Financial Services Committee, has asked 20 of the largest cryptocurrency firms doing business in the U.S. to explain their hiring practices as the panel adds the digital assets industry to the financial sectors it has questioned about employment diversity. Waters, who is also leading an effort […]
Virginia pension fund invests in crypto lending in bid to boost returns | Financial Times
A $6.8bn Virginia pension fund is looking to boost its returns by investing in crypto lending markets despite a crisis in the sector that has pushed several companies into bankruptcy and left retail investors with heavy losses. The Fairfax County Retirement Systems recently gained approval from its board of trustees to begin investing in “yield […]
No Investor Should Be Buying Single-Stock ETFs – Bloomberg
Issuers of exchange-traded funds plan to roll out a wave of single-stock ETFs. These funds, a handful of which are already available, will bet against individual stocks or amplify their daily moves or both. Needless to say, single-stock ETFs have not been greeted with enthusiasm. Regulators are sounding alarms about their risks. Financial advisers are warning […]
Senate Plan Would Put Bitcoin, Ether Under Commodity Regulator’s Watch – WSJ
Leaders of a Senate committee are set to propose legislation that would assign oversight of the two largest cryptocurrencies, bitcoin and ether, to the federal agency that regulates milk futures and interest-rate swaps. Senate Agriculture Committee Chairwoman Debbie Stabenow (D., Mich.) and top-ranking Republican John Boozman of Arkansas, are planning to introduce a bill Wednesday […]
Attorney General James Urges New Yorkers Deceived by Crypto Platforms to Report Concerns to OAG | NYAG
New York Attorney General Letitia James today issued an investor alert urging any New Yorker deceived or affected by the cryptocurrency crash to contact her office. Many high-profile cryptocurrency businesses have frozen customer withdrawals, announced mass layoffs, or filed for bankruptcy, while investors have been left in financial ruin. As part of the Office of the Attorney General’s (OAG) ongoing investigative work, OAG is interested in […]
Cryptocurrency winter chills sympathy from DC regulators.
Inflicting billions of dollars in losses is a great way to lose sympathy among politicians. Time has run out: It’s too late for the crypto industry to get the kind of regulation it’s been pushing for. The crypto winter arrived before any new laws could be written, and has changed the whole tone of the […]
‘Congress won’t regulate trades,’ stock ban won’t happen
Amid renewed chatter about the importance of cracking down on legislators’ stock trades, high-ranking staffers tell The Post the likelihood Congress will actually regulate itself is so low, it’s laughable. “You’re not getting members of Congress to self-regulate the money they can or can’t make,” a DC insider told The Post. “Why would they do […]