India’s crypto sector on edge as bill that may lead to ban awaits cabinet approval
If cabinet approves crypto bill by November, it could be introduced as early as parliament’s winter session.
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Ripple decries SEC’s demand for employee Slack messages on XRP
Ripple claims the SEC’s request for 1 million more of the company’s internal messages is costly and unlikely to resolve disputes at the heart of the litigation.
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Ghana central bank in CBDC tie-up with Germany’s Giesecke+Devrient
As African countries such as Morocco, Egypt, Kenya and South Africa continue to explore the feasibility of central bank digital currencies, the Bank of Ghana is set to launch a retail CBDC pilot project, the bank has announced. Fast facts For the pilot, the central bank has partnered with German firm Giesecke+Devrient, which will provide…
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SEC’s Gensler tells Warren: crypto investors not adequately protected
In a much-anticipated reply, U.S. Securities and Exchange Commission Chair Gary Gensler has written to Sen. Elizabeth Warren saying “crypto investors are not adequately protected.” Fast facts “In my view, the legislative priority should center on crypto trading, lending, and [decentralized finance] platforms. Regulators would benefit from additional plenary authority to write rules for and…
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SEC seeks 1 million Slack messages from Ripple for XRP litigation
The US Securities and Exchange Commission wants to review ‘terabytes’ of Ripple’s Slack chats for evidence of XRP-related wrongdoing. How much is too much?
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Crypto platform Poloniex agrees to $10M settlement with SEC
Cryptocurrency platform Poloniex has agreed to pay more than US$10 million to settle charges for operating an unregistered online digital asset exchange, according to an announcement by the U.S. Securities and Exchange Commission (SEC). Fast facts According to the SEC’s order, Poloniex violated securities laws from July 2017 to November 2019 as the company did…
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First SEC DeFi bust made in US$30M fraud case
The U.S. Securities and Exchange Commission has taken its first regulatory action involving decentralized finance in a case involving the “unregistered sales of more than US$30 million in securities,” according to an agency press release. Fast facts Gregory Keough and Derek Acree were charged along with their Cayman Islands-based company, Blockchain Credit Partners, over allegedly…
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SEC chair labels crypto industry ‘Wild West,’ asks for more powers
The cryptocurrency trading industry has been labeled a “Wild West,” riddled with fraud and investor risk, by U.S. Securities and Exchange Commission Chair Gary Gensler, according to a Reuters report. Fast facts Calling on Congress at the Aspen Security Forum to give the SEC more power to regulate the industry, Gensler said many of the…
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SEC: Commissioners’ statement not relevant to Ripple’s XRP lawsuit defense
US Securities and Exchange Commission staffers say their appointed leaders’ views do not reflect the agency’s stance on Ripple and XRP.
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SEC Chair Gensler: stablecoins could be treated as securities
Hinting at a potential future crackdown on stablecoins, Gary Gensler — the chair of the U.S. Securities and Exchange Commission — told the American Bar Association this week that cryptocurrencies whose prices are based on traditional assets could be subject to securities law enforcement. Fast facts Gensler’s remarks followed those of U.S. Treasury Secretary Janet…