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President-elect Donald Trump’s transition team has interviewed Paul Atkins, a seasoned financial regulator, as a potential successor to SEC Chair Gary Gensler. Atkins is considered a leading candidate for the position, with a decision expected soon.
Bitcoin has reached an all-time high just under $100,000, driven by a surge in interest following Donald Trump's election victory and the resignation of SEC Chair Gary Gensler, signaling a potentially more favorable regulatory climate. Despite this rally, altcoins struggle to keep pace, with lingering concerns from the 2021 crypto bubble affecting the broader market.
Elon Musk will not face sanctions for missing a meeting with the SEC to attend a rocket launch, as US District Judge Jacqueline Scott Corley found no need for penalties. Musk had already agreed to reimburse the SEC $2,923 for the airfare of the lawyers he did not meet in September and later provided testimony on October 3.
A federal appeals court has ruled that the Financial Industry Regulatory Authority (Finra) cannot unilaterally expel brokerages accused of misconduct without the US Securities and Exchange Commission's input. The decision emphasizes that Finra's regulatory actions must be overseen by a government entity, as stated by Circuit Judge Patricia Millett.
Digital assets identified as unregistered securities by the US Securities and Exchange Commission are experiencing a surge following Chair Gary Gensler's announcement of his planned departure in January. Gensler, a vocal critic of the crypto industry, has faced opposition from crypto supporters, including Donald Trump, who pledged to remove him. His exit comes amid ongoing scrutiny of compliance and practices within the digital-asset sector, which has faced significant challenges in recent years.
GQG Partners' stock fell nearly 10% following US charges against Gautam Adani, alleging his involvement in a $250 million bribery scheme related to solar energy contracts in India. The firm is reviewing its investments in the Adani Group but notes that over 90% of its clients' assets are in unrelated issuers, ensuring portfolio diversification.
With Donald Trump returning to the White House, the crypto industry anticipates a surge in digital-asset mergers, fueled by candidates aligned with the sector winning congressional seats. Advisors expect increased activity next year, particularly if Trump acts on his promise to remove SEC Chair Gary Gensler, who has enforced strict regulations on the industry, paving the way for more favorable legislation.
The potential exit of SEC Chair Gary Gensler following Donald Trump's presidential victory is fueling a surge in cryptocurrencies previously labeled as unregistered securities by the agency. This shift hints at a significant rollback of crypto enforcement under a Trump administration.
Nasdaq Inc. and Cboe Global Markets Inc. have filed a legal challenge against a new rule from the US Securities and Exchange Commission that alters the economic framework for stock trading. The exchanges are seeking a review of the finalized national market structure regulation, known as Reg-NMS, through a petition submitted to a Washington appeals court.
Federal prosecutors are set to offer a plea deal to an Alabama man accused of hacking the US Securities and Exchange Commission’s X account in January. The hack involved a fraudulent social media post regarding the authorization of the first-ever spot Bitcoin exchange-traded funds. Assistant US attorney Kevin Rosenberg indicated uncertainty about whether the plea will be accepted during a recent court hearing.
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