{
}
A prominent crypto advocacy group is urging the SEC to reassess all crypto-related cases under the incoming Trump administration, anticipating a more cooperative regulatory environment. The proposal emphasizes the need for clear regulations and a shift away from "regulation by enforcement" to foster trust within the digital asset community. Additionally, new FASB guidance mandates that companies report digital assets at fair market value starting in 2025, enhancing transparency for investors.
The Digital Chamber of Commerce is urging the incoming SEC leadership to review all crypto-related investigations and lawsuits from day one, advocating for a reset in the SEC's relationship with the digital asset industry. They propose pausing probes not involving fraud or investor harm and repealing key regulations like SAB 121, which burdens crypto custody providers. With bipartisan support for these changes, the Chamber aims for a more transparent regulatory framework under new SEC Chair Paul Atkins, succeeding Gary Gensler.
Senator Tim Scott, the new chair of the U.S. Senate Banking Committee, plans to introduce the Financial Innovation and Technology for the 21st Century Act (FIT21) and a stablecoin bill to establish clearer crypto regulations in 2025. He aims to create a digital assets subcommittee and aligns with pro-crypto initiatives alongside the incoming Trump administration. Despite expected criticism from Senator Elizabeth Warren, Scott emphasizes the potential of crypto as the "next wonder of the world."
The U.S. Securities and Exchange Commission has issued a Wells Notice to the NFT project CyberKongz, indicating potential securities violations related to its ERC-20 token and blockchain game. CyberKongz plans to challenge the notice, arguing that the SEC misinterpreted a technical upgrade as a token sale. The situation raises concerns for the broader blockchain gaming industry, particularly for projects combining NFTs with utility tokens.
TD Cowen predicts that the SEC will likely proceed with crypto regulations without Democratic commissioners in the new year, following the departures of Chair Gary Gensler and Commissioner Jaime Lizárraga. Commissioner Caroline Crenshaw, the only remaining Democrat, faces challenges in her renomination, which could lead to an all-Republican commission under Chair Paul Atkins. This shift may expedite rule-making but poses risks to bipartisan support, potentially affecting the stability of future crypto regulations.
Paul Atkins, nominated by President Trump as the next SEC chair, is expected to shift the agency's approach to crypto regulation, moving away from the aggressive tactics of his predecessor, Gary Gensler. While Atkins is pro-crypto and advocates for clearer regulations, significant changes may take time due to existing legal precedents and ongoing lawsuits. His familiarity with current SEC staff, including pro-crypto commissioners, could facilitate a more accommodating regulatory environment for the industry.
Interest groups, including Public Citizen, are urging the US Senate to confirm Caroline Crenshaw for a second term at the SEC before the new Congress begins. With the potential for a Republican majority, the confirmation window is narrow, as Crenshaw could be the last remaining Democrat at the agency after key departures. Critics from the crypto industry are opposing her nomination, citing her previous votes against crypto-related initiatives.
A Senate committee vote to re-nominate SEC Commissioner Caroline Crenshaw has been postponed, leaving her future uncertain. The delay, attributed to Republican opposition, raises the possibility of a Republican majority at the SEC following the upcoming Trump administration. Current SEC Chair Gary Gensler will depart on January 20, 2025, and Crenshaw's critics within the crypto industry are vocal about their desire for her removal.
SEC Commissioner Hester Peirce has outlined three key steps for the Trump administration to support the crypto industry: cease hindering access to essential services, clarify which assets fall outside SEC jurisdiction, and collaborate with crypto firms to adapt existing regulations. Peirce emphasizes the need for public engagement in this process to foster a more favorable regulatory environment. Her comments come amid criticism of SEC Chair Gary Gensler's aggressive enforcement actions against major crypto firms.
Crypto advocacy groups, including the Blockchain Association and DeFi Education Fund, have opposed the re-nomination of SEC Commissioner Caroline Crenshaw, citing her negative stance on cryptocurrency and actions that undermine Congress's regulatory mandate. Crenshaw, a Biden appointee, dissented on the approval of spot Bitcoin ETFs, aligning with the SEC's critical approach to the industry. The U.S. Senate Banking Committee is set to vote on her re-confirmation, which could extend her term until 2029.
Mark Uyeda
People
The information provided herein is generated by experimental artificial intelligence and is for informational purposes only.
crypto advocacy group calls for regulatory overhaul under new administration
16:00 19.12.2024
crypto group urges sec to reassess regulations and investigations under new leadership
Uniswap KRW
Immutable USD
Coinbase Global, Inc.
USA
Mark Uyeda
Gary Gensler
Paul Atkins
Hester Peirce
Show more
11:03 19.12.2024
Senate Banking Chair Tim Scott Promotes New Crypto Regulations for 2025
United States Dollar
USA
Joe Biden
Tim Scott
Hester Peirce
Mark Uyeda
Bernie Moreno
Donald Trump
Elizabeth Warren
Show more
09:05 18.12.2024
sec issues wells notice to cyberkongz over potential securities violations
07:12 17.12.2024
SEC poised for crypto rule changes amid Democratic departures and Republican leadership
Bitget Token USD
USA
Jaime Lizárraga
Caroline Crenshaw
Donald Trump
Sherrod Brown
Gary Gensler
Hester Peirce
Paul Atkins
Mark Uyeda
Show more
19:11 16.12.2024
new sec chair paul atkins poised to reshape crypto regulation slowly
United States Dollar
USA
Donald Trump
George W. Bush
Caroline Crenshaw
Jaime Lizarraga
Gary Gensler
Hester Peirce
Kain Warwick
Charlyn Ho
Paul Atkins
Sam Bankman-Fried
Cody Carbone
Mark Uyeda
Show more
00:12 13.12.2024
interest groups urge senate to confirm caroline crenshaw to sec
Bitcoin USD
USA
Donald Trump
Caroline Crenshaw
Jaime Lizárraga
Sherrod Brown
Hester Peirce
Gary Gensler
Mark Uyeda
Show more
22:26 12.12.2024
senate committee postpones vote on sec commissioner caroline crenshaw renomination
United States Dollar
Coinbase Global, Inc.
USA
Donald Trump
Caroline Crenshaw
Tim Scott
Sherrod Brown
Jaime Lizarraga
Gary Gensler
Hester Peirce
Brian Armstrong
Kain Warwick
Paul Atkins
Cody Carbone
Mark Uyeda
Show more
06:51 12.12.2024
hester peirce outlines three steps for us regulators to support crypto industry
Coinbase Global, Inc.
Kraken Energy Corp.
USA
Donald Trump
Hester Peirce
Gary Gensler
Mark Uyeda
Show more
16:30 11.12.2024
crypto groups challenge re-nomination of sec commissioner caroline crenshaw
United States Dollar
USA
Jaime Lizárraga
Caroline Crenshaw
Tim Scott
Sherrod Brown
Gary Gensler
Hester Peirce
Eleanor Terrett
Joe Biden
Mark Uyeda
Show more
22:01 09.12.2024
Trending
Subcategory
Industry Trends
Startups & Entrepreneurship
Corporate News
Supply Chain Management
Global Trade Developments
Private Equity Deals
Retail and Consumer Goods
Government Economic Policies
CEO Changes
Industry Mergers & Acquisitions
Workplace Trends
Stock Market Updates
Corporate Social Responsibility
Emerging Startups
Consumer Protection Regulations
Fintech Startups
Energy Sector Developments
Venture Capital Investments
Funding Rounds & Investments
Finance Mergers & Acquisitions
Countries:
Companies:
Apple Inc.
NVIDIA Corporation
Google Inc.
Amazon.com, Inc.
Tesla, Inc.
JD.com, Inc.
Toyota Motor Corp
Honda Motor Co., Ltd.
Microsoft Corporation
The Goldman Sachs Group, Inc.
Samsung Securities Co.,Ltd.
Meituan
XIAOMI-W
Tesmec S.p.A.
TENCENT
Emirates NBD Bank PJSC
Orange S.A.
Boeing Co
Salesforce, Inc.
Foxconn Technology Co., Ltd.
Currencies:
United States Dollar
Chinese Yuan
Indian Rupee
Euro
Japanese Yen
British Pound Sterling
Saudi Riyal
Offshore Chinese Yuan
Indonesian Rupiah
Vietnamese Đồng
South Korean Won
Nigerian Naira
Nicaraguan Córdoba
New Taiwan Dollar
Qatari Riyal
Mexican Peso
Pakistani Rupee
Malaysian Ringgit
Singapore Dollar
Macanese Pataca
People:
Donald Trump
Tim Cook
Mark Zuckerberg
Haider Ali Khan
Ayman Hamdan
Bisrat Degefa
Xi Jinping
Jensen Huang
Piyush Anchliya
Stiven Muccioli
Tamim bin Hamad Al Thani
Pandu Sjahrir
Prabowo Subianto
Ray Dalio
Changpeng Zhao
Prashant Joshi
Amal El Fallah Seghrouchni
Ahmed Hamdan
He Xiaopeng
Abdel Fattah El-Sisi