Tagged: john reed stark

“Catch will be countless, perhaps even mammoth” – Former SEC Officials Says Crypto Disclosure Requirement Could Lead to Many Enforcement Actions

Yesterday, the Securities and Exchange Commission (SEC), Division of Corporate Finance, revealed a “sample” letter being sent to registered firms demanding heightened disclosure on crypto assets. The new request follows a series of bankruptcies and financial stress from firms in the digital asset industry. The… Read More

DOJ: IRS Gains Court Order to Pursue Taxpayers Who Failed to Pay Taxes on Crypto

The US Internal Revenue Service (IRS), the tax authority of the US, has received a Court Order to be able to summons records pertaining to US taxpayers who may have failed to report and pay taxes on crypto transactions. According to the Department of Justice… Read More

Former SEC Official Slams Stablecoins: “Neither stable nor coins”

While stablecoins continue to grow in usage while garnering legislative attention that may provide a regulatory regime to propel them further, some industry observers are non-believers of fiat-backed crypto. John Reed Stark, a frequent critic of crypto and former SEC official who previously ran the… Read More

Letter Calls Crypto “risky, flawed, and unproven digital financial instruments,” Tells Policymakers to Act Now to Protect from Severe Risk

A group of “technologists” has published an open letter addressed to Congressional leaders asking them to push back on the narrative that crypto and Web3 are good for financial services. The “26 computer scientists, software engineers, and technologists” state in the “Letter in Support of… Read More

Former SEC Official Hammers Web3: “Scourge and Scam”

John Reed Stark, a former Securities and Exchange Commission official who at one point ran the SEC Office of Internet Enforcement, has posted a series of tweets sharing his belief that Web3 is little more than a “scourge and a scam.” Stark is currently a… Read More

SEC Denies NYSE Arca’s Attempt to List Bitcoin ETF

The Securities and Exchange Commission (SEC) has once again denied an attempt to list a Bitcoin Exchange Traded Fund (ETF). In a filing last week, the SEC outlined its justification “disapproving a proposed rule change to list and trade shares of the First Trust SkyBridge… Read More

Former SEC Official Predicts End of Businesses Accepting Cryptocurrency, Labels Crypto a “Menacing Cancer”

At least one former enforcement executive from the Securities and Exchange Commission (SEC) is predicting the demise of crypto – or at least a significant setback for digital assets. John Reed Stark, former head of the SEC’s Internet Enforcement team says that new rules from… Read More

Former SEC Enforcement Chief: Accepting Crypto Payments Adds a More Criminal Than Cool Cachet

Former SEC Office of Internet Enforcement Chief John Reed Stark has used his latest blog post at LinkedIn (“The Bitcoin Plague Spreads to Retail”) to strongly advise American retailers not accept cryptocurrency payments: “Given its complete and utter lack of oversight and meaningful licensure, the… Read More

Exchanges and Issuers Risking Hot Water By Selling IEO (Initial Exchange Offering) Tokens

IEO (initial exchange offering) “fever” is proving more short-lived than the ICO (initial coin offering) version, and that is probably a good thing. By promoting “IEOs” –crypto tokens of a slightly different stripe– exchanges and pundits have hoped to revive some of the excitement, action,… Read More

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