Tag Archives: SEC

Crypto Exchange Kraken Settles SEC Action and Agrees to Pay $30M Fine and Shutter U.S. Crypto Staking Service

Photo of Teresa Goody GuillénPhoto of Veronica ReynoldsPhoto of Michelle TanneyPhoto of J'Naia BoydBy Teresa Goody Guillén, Veronica Reynolds, Michelle Tanney and J'Naia Boyd on Posted in Blockchain
According to the SEC’s complaint, Kraken offered and sold its staking[1] services to the general public in which participants could transfer crypto assets to Kraken in exchange for “advertised annual investment returns of as much as 21%” (the Kraken Staking Program). The SEC alleges that this Kraken Staking Program enabled Kraken to achieve a competitive … Continue Reading

SEC’s Gensler Steps Up Crypto Criticism

Photo of Kevin EdgarBy Kevin Edgar on Posted in Blockchain
Securities and Exchange Commission Chairman Gary Gensler makes no secret of his desire to bring cryptocurrency exchanges and tokenized offerings under his agency’s direct oversight. Gensler stepped up his advocacy with recent comments that the “vast majority” of tokens are in fact securities. The Federal Policy team’s Kevin Edgar co-authored an important summary of Gensler’s … Continue Reading

House Democrats Urge Funding Boost for Wall Street’s ‘Cop on the Beat’

Photo of Kevin EdgarBy Kevin Edgar on Posted in Congress
House Financial Services Committee Chairwoman Maxine Waters is calling on Congress to increase funding for Securities and Exchange Commission (SEC) oversight of Wall Street’s “regulatory and market structure weak points.” With SEC Chairman Gary Gensler signaling stepped-up enforcement of public companies and other SEC registrants, Democrats on Capitol Hill are leveraging their majority status to … Continue Reading

Congress Grants SEC New Authority in Securities Fraud Cases

Photo of Kevin EdgarBy Kevin Edgar on Posted in Congress
Congress voted to give the Securities and Exchange Commission (SEC) sweeping new authority to prosecute violations by creating a 10-year statute of limitations for the agency to seek disgorgement of ill-gotten gains from securities fraud. A 1934 law had limited the SEC to seek disgorgement as a civil remedy only in administrative proceedings. But the … Continue Reading

Senate Bill Would Force Company Cyber Disclosure on SEC Filings

By Peggy Peterson on Posted in Cybersecurity
Amid growing alarm on Capitol Hill over cybersecurity and data privacy, new Senate legislation would require publicly traded companies to disclose in Securities and Exchange Commission (SEC) filings whether they have cybersecurity experts on their boards of directors – and if not, explain why. Sen. Jack Reed, D-R.I., said his legislation is meant to encourage … Continue Reading

The Weekly Hill Update

Photo of Adam HigginsBy Adam Higgins on Posted in The Weekly Hill Update
Below is the Federal Policy team’s weekly preview, published each week when Congress is in session. HEADLINES • President Donald Trump on Tuesday will meet with House Speaker Nancy Pelosi, D-Calif., and Senate Democrat Leader Chuck Schumer, D-N.Y., to discuss funding for a wall along the Mexican border and try to avert a partial government … Continue Reading
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