The US stock and values commission. UU. It is looking to restore its relationship with the cryptographic industry, even before Congress confirms a permanent president. The last effort was Friday’s round table, organized at the headquarters of the SEC in Washington, DC and with a dozen lawyers who represent different points of view and positions within the cryptographic industry.
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The narrative
The restart of the SEC began when the interim president Mark Uyeda launched a cryptographic working group and supervised his agency to withdraw the staff of Bulletin 121, eliminate a series of demands in progress, stop some more and publish multiple personnel statements on how the agency could look at the memecors and the test of the work test mining.
Why does it matter
The SEC is possibly the most important federal regulator of Crypto at this time. While its sister agency, the Basic Products Trade Commission, can be the regulator that one day could supervise cryptography markets, at this time it is the SEC that most companies in the sector seek guidance on what, exactly, they can do.
Break down
The round table was divided into two portions (three, if it counts the introductory comments of the three commissioners): a moderate panel of approximately 90 minutes, directed by the former sec commissioner and the founder of the wall strategies, Troy Paredes, and a 90 -minute town hall still moderated by walls but with questions from the general public.
You can read the Coindesk coverage of the discussion panel in this link.
Although the central question during the discussion was, as it has been for years, when and how exactly a cryptographic or cryptographic transaction, security, panelists mentioned everything from the role of cryptography to boost ransomware to how exactly the companies should operate.
Chris Brummer, Bluprynt CEO and Georgetown Law professor opened the discussion with his analysis of what the Howey test really means: we are basically saying when he has savings, there is a problem of investor protection. The Prong Enterprise Common with which we are all familiar with a type of problem. “
“It really only goes to information asymmetries, and then the issue of profits goes to investor psychology, greed and fear, the types of things that can distort decision making,” he said. “And basically, when you have all those factors together, you have a mandatory dissemination [rule]”
The sec approach has so far limited a series of cryptographic projects, said Sarah Brennan, general lawyer of Delphi Ventures. Although many cryptographic projects are intended to have a wide initial distribution, “the spectrum of the applications of the Securities Laws” means that many projects act more as if they were public that really adopted the cryptographic aspects of their projects.
“We see more and more token is the product … There are different ways in which people are artificially supporting the price and it has generally been, I would say, toxic to the market,” he said.
John Reed Stark, a former sec lawyer, said that the “economic reality of the transaction” is fundamental.
“However, you want to look at it, people who buy cryptography are not collectors,” he said. “We all know that they are investors, and the MISSION of the SEC is to protect investors.”
It remains to see how the efforts of the SEC will continue, but the agency is assuming a more active role in interacting publicly with these questions and the industry seems to be answering. The SEC auditorium was approximately three quarters full sometimes, not to say anything about anyone who was tuned in live broadcast.
- While Congress speaks its project of cryptography that delay on Earth, regulators are already working: Federal agencies are not waiting for Congress or even their permanent bosses to take care of the formulation of cryptographic policies, Jesse Hamilton pointed out in this prophetic analysis that he advanced to the Pow Mining Declaration of the SEC and the Reputation Risk Update of Occ.
- Cryptographic work proof mining does not trigger securities laws, SEC says: The group of proof of work grouped and alone is outside the jurisdiction of the SEC, the agency said in a statement of the staff.
- The US banking agency cuts the ‘risk of reputation’ of exams after the cryptographic sector quotes problems: The currency comptroller’s office eliminated the “risk of reputation” of its supervision manual, he told National Banks on Thursday.
- XRP Zooms 10% when Garlinghouse says that Sec is dropping a case against Ripple: The CEO of Ripple, Brad Garlinghouse, said that the SEC agreed to launch its July 2023 failure that said Ripple did not violate federal laws of values by selling XRP to retail investors by making it available through exchanges, and that the case itself is close to its end.
- Digital Chamber gets a new boss while cryptographic lobbyists embrace Washington: Washington: The founder and CEO of the digital chamber, Perianne Boring, will resign next month and will become the president of its Board. The president of the Lobby organization, Cody Carbone, will assume the position of CEO.
- Crypto Exchange Bithumb attacked by prosecutors of South Korea for accusations of embezzlement: report: South Korean prosecutors have initiated investigation into Crypto Exchange Bithumb, investigating accusations of embezzlement.
- Inside pump.fun’s plan to dominate Solana’s trade defi: Pump.Fun is launching a tokens exchange service in an effort to obtain a portion of rates generated by automated market manufacturers in Solana.
- The founder of Gotbit, Aleksei Andriunin, declares himself guilty of cable fraud, market handling: Aleksei Andriunin, the Russian citizen who told Coindesk in 2019 that he directed a wash trade service to make cryptocurrencies seem to have a greater liquidity and market capitalization that really declared himself guilty of market handling and electronic fraud charges in a guilt agreement.
- Change of Nasdaq to the negotiation of 24 -hour shares in part due to cryptography, says Exchange Executive: Nasdaq and the New York Stock Exchange are working to operate at least 24 hours in part because the cryptography trade is already being 24 hours, said Nasdaq’s head of US actions and the products quoted in the Giang Bui stock exchange.
- Nominated for the president of the SEC, Paul Atkins, to face the Senate panel next week: The nominee to the president of the SEC, Paul Atkins, and the control candidate Jonathan Gould will face the Senate Banking Committee for his confirmation hearing next week.
- The United States government eliminates tornado’s cash sanctions: A few months after the Fifth Circuit Court of Appeals ruled that the Office of Foreign Assets Control of the Department of the Treasury could not sanction the intelligent contracts, OFAC eliminated its sanctions against the current current of cash.
Tuesday
- 15:30 UTC (11:30 AM ET) The federal judge who supervises the case of the United States Department of Justice against the founders of Samourai Wallet held a status conference hearing in the case. According to my colleague Cheyenne Ligon, who attended, the 7 -minute long audience addressed some procedure issues, but did not delve into the substance of the case.
Thursday
Friday
- 17:00 UTC (1:00 PM ET) The United States Stock Exchange and Securities Commission held a round table event with legal experts from the cryptographic industry and sec staffing.
- (Reuters) Another aviar flu strain, this time H7N9, has reached the US for the first time since 2017. This is at the top of the H5N1 current epidemic.
- (CNN) The CEO of Amtrak, Stephen Gardner, said he would resign to lead the public traffic company in the direction of the White House.
- (Bloomberg) Coinbase is in advanced conversations to acquire the Delibit derivative platform, Bloomberg reported, after Coindesk’s reports last month that the exchange was interested in the company.
- (Wired) A former goal employed wrote a revealing book about his experiences in the company and goal will limit its distribution. Since then, careless people have become a best-seller in Amazon.
- (Bloomberg) Bloomberg outlined New York Democratic role Kirsten Gillibrand to press for cryptographic legislation in the Senate.
- (Political) The Trump administration plans for USAID include reforming it and “lever[ing] Blockchain technology to ensure transactions, “although this document that the politician obtained does not include many more details.” All distributions would also be ensured and tracked through blockchain technology to radically increase security, transparency and traceability, “says the document. If you are one of the people who presses by the integration of Blockchain with the United States government, chat.
- (The Guardian) The Trump administration played more than 200 men of Venezuelan origin to a prison in El Salvador, potentially in violation of a court order and without holding any hearing or trial. While the Administration said in public statements that the 238 men had links with the train gang of Aragua, which in turn was taking the direction of the Venezuelan government, authorities said in judicial documents that many of the people flown to El Salvador had no criminal record. The family members of many of these individuals say they were not criminals and that they had no gang ties. According to reports, some of the individuals signed deportation documents and expected them to return to Venezuela. American intelligence agencies apparently also found that TDA was not linked to the Venezuelan government, The Times reported.
If you have thoughts or questions about what I should discuss next week or any other comments you want to share, do not hesitate to send me an email to [email protected] or find myself at bluesky @nikhileshde.bsky.social.
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Look, next week!
