Tagged: gary gensler

Chairman Gary Gensler Tells Congressional Committee Crypto Exchanges Need to Register as Exchanges with SEC

Gary Gensler 1

SEC Chairman Gary Gensler testified in front of the Subcommittee on Financial Services and General Government, part of the House Appropriations Committee, to justify the agency’s budget request. As part of the questioning from various members, Gensler answered several questions which were crypto-related. Chairman Gensler… Read More

SEC Chairman Gary Gensler to Visit Appropriations Subcommittee to Discuss Budget: “The gold standard for capital markets”

Gary Gensler 9.14.21

Tomorrow (May 18, 2022), SEC Chairman Gary Gensler will hike up to Capitol Hill to extoll the need for a slight budget increase for the SEC and its ~ 4800 employees. Chair Gensler, along with the Chair of the FTC, will address the Subcommittee on… Read More

SEC Chairman Gary Gensler Re-Affirms His View that Most All Digital Assets are Securities

Gary Gensler May 26 2021

“Most crypto tokens are investment contracts under the Supreme Court’s Howey Test.” SEC Chairman Gary Gensler is not wavering from his view that most all crypto assets are securities. Gensler has consistently voiced this belief queueing up expectations for a growing number of enforcement actions… Read More

After Receiving Substantial Criticism For Rushed Rulemaking, SEC Extends Comment Period on Climate Disclosure Rule, ATSs & Definition of an Exchange

Securities and Exchange Commission SEC Washington DC

The Securities and Exchange Commission (SEC) has extended the comment period on proposed ESG rules that may compel public firms to disclose their climate risks and impact on the environment. The SEC has received broad criticism in regards to the rushed nature of the rulemaking… Read More

All in on Crypto Enforcement: SEC Beefs Up Crypto Asset and Cyber Unit to Target Digital Asset Transgressions

Boom Exploision Danger Warning

Announced last week, the Securities and Exchange Commission (SEC) revealed its intent to step up its crypto enforcement actions with a newly renamed Crypto Assets and Cyber Unit doubling its headcount. The SEC outlined its reinvigorated mission as targeting digital asset offerings, crypto exchanges, lending… Read More

Commissioner Hester Peirce Questions Why SEC is Leading with Crypto Enforcement

Hester Peirce

Last week it was reported that the Securities and Exchange Commission (SEC) was doubling the size of its crypto enforcement team. The SEC also revealed that it had rebranded its Cyber Unit to the Crypto Assets and Cyber Unit to reflect its additional focus on… Read More

Bigger Guns: SEC Ramps Up Enforcement Team on Crypto, Doubles Headcount at Crypto Assets and Cyber Unit

Gary Gensler May 26 2021

The Securities and Exchange Commission (SEC) will double its enforcement team when it comes to the crypto or digital assets sector. According to a statement by the SEC, the renamed Crypto Assets and Cyber Unit (formerly the Cyber Unit) will increase its headcount to 50… Read More

Securities and Finance Experts Worry that SEC’s ESG Requirements will Drive Shareholder Returns Lower, Push Prices Higher and Have a Negative Impact on Labor

Monongahela Power Plant

The Securities and Exchange Commission is currently pursuing new rules under the auspices of ESG: Environmental, Social, and Governance. In March of 2022, SEC Chairman Gary Gensler explained they were aiming to require disclosure for firms on issues such as climate impact. He explained: “The… Read More

SEC Small Business Capital Formation Advisory Committee will Discuss SPACs, Climate Disclosure under ESG Push

Securities and Exchange Commission SEC 3

The Securities and Exchange Commission’s Small Business Capital Formation Advisory Committee (SBCFAC) has scheduled a meeting to discuss two specific topics: SPACs or Special Purpose Acquisition Companies and Climate Disclosure. The meeting will take place on Friday, May 6, 2022. According to a statement by… Read More

High Powered Digital Asset, Blockchain Leaders Comment on SEC’s Proposed Rule Changes Impacting ATSs, Definition of Exchanges

US Capitol Washington DC Stop Go

In late January, the Securities and Exchange Commission (SEC) proposed amendments to the Exchange Act and the definition of an Exchange as well as Regulation ATS (Alternative Trading System). The proposal was opened to comments with a deadline of this week (April 18). The SEC… Read More

Foreshadowing? SEC Chairman Gary Gensler Says Staff is Reviewing How to Get Crypto Exchanges “Registered and Regulated”

Gary Gensler May 26 2021

In remarks for the Penn Law Capital Markets Association Annual Conference, SEC Chairman Gary Gensler sent a clear warning to crypto exchanges and other marketplaces that trade in crypto. Gensler explicitly stated that he has asked staff to review how the Securities and Exchange Commission… Read More

SEC Proposes New Rules Impacting SPACs

Walking to the SEC Securities and Exchange Commission

The Securities and Exchange Commission (SEC) has issued a statement proposing new rules impacting Special Purpose Acquisition companies or SPACs. The recent rise in the number of SPACs being utilized to bring a company public with less disclosure than a traditional initial public offering has… Read More

An SEC Committee Wants to Make it Easier to Qualify as an Accredited Investor, Will the Commission Listen?

Should you be an accredited investor

Last month, the SEC Small Business Capital Formation Advisory Committee held a virtual meeting to discuss the definition of an Accredited Investor. For anyone viewing the meeting, it was clear that Committee members would like to make it easier for individuals to qualify as Accredited,… Read More

Commissioner Hester Peirce: “Not the Securities and Environment Commission Yet,” as SEC Pushes for Rules Targeting Climate Related Disclosure

Securities and Exchange Commission SEC Stop

Today the Securities and Exchange Commission (SEC) proposed new rules to compel publicly traded firms to disclose climate-related information. The policy shift has long been anticipated and messaged by the Commission under the leadership of Chairman Gary Gensler. According to the SEC, new rules would… Read More

Perspective: Congressman Tom Emmer Advocates on Behalf of Crypto Innovators as the SEC Stifles Innovation

Congressman Emmer HFSC

Congressman Tom Emmer distributed a series of Tweets this past week that is emblematic of the frustration pertaining to the digital asset industry and a recalcitrant Securities and Exchange Commission when it comes to fostering a productive regulatory environment. Included in the Tweets, the Congressman… Read More

SEC Commissioner Allison Herren Lee to Step Down from Commission this June

Allison Herren Lee 2

SEC Commissioner Allison Herren Lee has announced her pending departure from the Commission. According to a statement, Lee’s term expires this June and she has decided to exit the top US securities regulator at that time. Commissioner Lee issued the following statement: “My term as… Read More

Crypto Supporter Congressman Tom Emmer Unpacks His Thoughts on Digital Asset Executive Order

Tom Emmer 2

Congressman Tom Emmer, a supporter of blockchain technology and crypto in general, has tweeted out his thoughts on the Executive Order on Digital Assets. Published yesterday by the Biden White House, the Executive Order has been widely embraced by the crypto community as doing no… Read More

White House Executive Order on Digital Assets Aims to Promote Innovation While Mitigating Risk, Illicit Activity in Cryptocurrencies

White House Washington DC

As was widely anticipated, the White House has posted an Executive Order targeting digital assets and cryptocurrencies. In a statement the White House explained their goal: “The rise in digital assets creates an opportunity to reinforce American leadership in the global financial system and at… Read More

Binance US Division Reportedly Under Investigation, SEC’s Gensler Comments on Latest Crypto-related Enforcement Actions

Gensler

The US Securities and Exchange Commission (SEC) is reportedly looking into the relationship between the US division of Binance, the world’s largest digital asset exchange, and two trading companies with alleged ties to Binance founder Changpeng Zhao or “CZ”, according to sources familiar with the… Read More

BlockFi Settles with the SEC, Pays $100 Million in Penalties

referee penalty regulate monitor penalize hockey

BlockFi, a top crypto platform that provides crypto lending services, has settled with the Securities and Exchange Commission following an investigation into the company’s activities. The settlement was leaked last week and BlockFi will be paying a total $100 million penalties. There were no allegations… Read More

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