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Join the Securities Litigation and Enforcement Group on LinkedInFTX Collapse Puts Focus on Ripple Case for Who Should Regulate Crypto – Bloomberg
In the wake of the implosion of cryptocurrency exchange FTX, one urgent question keeps resurfacing: Who should regulate the industry? An upcoming ruling in New York federal court could help determine the answer, along with the fates of numerous crypto investors and companies. The case hinges on whether a prominent digital token should be treated as a […]
AG Platkin Launches Office to Combat Securities and Financial Crimes
Attorney General Matthew J. Platkin today announced the creation of a new office within the Division of Criminal Justice that will focus on pursuing major financial crimes, including securities fraud, and holding white collar criminals accountable for their wrongdoing. The newly created Office of Securities Fraud and Financial Crimes Prosecutions (OSFFCP) will enhance existing efforts […]
Market-Trading Surge Before US CPI Inflation Report Was ‘Extremely Unusual’ – Bloomberg
New analysis highlights just how unusual the surge in trading of US Treasuries was last month, just a minute before the release of closely watched inflation data. The trading volume for 10-year Treasury note futures during the 60 seconds before the Dec. 13 release of November’s consumer price index was more than three times greater […]
It’s Time for Congress to Pass a Federal Virtual Currency Law
Recent events regarding FTX and other failed crypto enterprises amplify the need for the 118th Congress to take action by passing legislation to provide holistic federal oversight of the virtual currency market. This includes regulating market participants that engage in a virtual currency business from the US or with US persons. The Commodity Futures Trading […]
Regulators warn U.S. banks on crypto risks including ‘fraud and scams’
U.S. banking regulators warned financial institutions on Tuesday that dealing with cryptocurrency exposes them to an array of risks, including scams and fraud. “The events of the past year have been marked by significant volatility and the exposure of vulnerabilities in the crypto-asset sector,” the regulators said in a joint statement from the Federal Reserve, […]
The Republican senator on a crusade against crypto | Semafor
Sen. Roger Marshall, R-Kan., isn’t graded yet on the cryptocurrency industry’s big scorecard. But at this point, he’d be happy to flunk it. “Even when you talk to the crypto people, people who support it readily admit that more than half of the cryptocurrencies out there are bad actors that take advantage of people,” Marshall […]
Crypto Crackdown Will Help Shape 2023 Securities Law Storylines
US securities regulators’ expected crackdown on crypto firms and potential shakeups in insider trading cases are among the closely watched investor issues for the coming year. Securities litigation involving companies’ environmental, social and governance (ESG) disclosures and practices will also keep court dockets busy. A slowdown in dealmaking likely means fewer lawsuits related to mergers […]
12 Crypto-Predictions for 2023 | LinkedIn
Prediction #11: Gary Gensler Will Remain at the SEC and Begin to Receive the Respect and Admiration That He Rightfully Deserves *** So just to review: First, in March, 2022, Emmer leads the war on Gensler, scolding him for the SEC’s aggressive investigations of crypto firms and alleging that the SEC was violating the Paperwork Reduction […]
Keeping US CPI Inflation Data Secret Involves NDAs and Plain Facial Expressions – Bloomberg
The data are so important, staff were once instructed to have no facial expressions when walking the reports into the West Wing of the White House. And yet, a surge in trading last week in the minutes before the release of the consumer price index — a closely watched US inflation measure — spurred concerns […]
FTX Collapse: Thanks to SBF, Regulating Crypto Should Be Easy – Bloomberg
Regulators might be tempted to sit back and hope the crypto market will simply burn out, putting an end to the whole bizarre episode. That would be wishful thinking. All cryptocurrencies outstanding still have a notional value of about $850 billion, and daily trading remains in the tens of billions of dollars. Officials need to […]