SEC | ForkLog - Part 19

ForkLog 24 11.04.2024

SEC’s Allegations Against Uniswap Spark DeFi Community Backlash

Uniswap has received a Wells notice from the SEC, potentially leading to a lawsuit. The exchange’s team expressed readiness to fight, deeming the regulator’s arguments weak. The community rallied in support of Uniswap and its founder, Hayden Adams. The largest decentralized exchange, Uniswap, has received a warning from the U.S. Securities and Exchange Commission (SEC) […]

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ForkLog 23 06.04.2024

Do Kwon Found Guilty of Fraud in SEC Case

A jury in the Southern District of New York found Terraform Labs (TFL) and its co-founder Do Kwon guilty of deceiving investors and securities fraud. “We are pleased with today’s jury verdict, which holds TFL and Do Kwon accountable for orchestrating a massive cryptocurrency fraud. [They] misled investors about the stability and security of crypto-assets […]

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ForkLog 17 03.04.2024

Hester Peirce Criticizes SEC’s Regulatory Approach

Questions directed at the SEC regarding regulation often go unanswered, indicating a decline in genuine interaction between the Commission and the public. This was stated by Commissioner Hester Peirce, reports The Block. According to her, the agency’s staff lacks “bandwidth.” “The root of the problem is that the Commission does not encourage staff to offer […]

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ForkLog 32 01.04.2024

Justin Sun and TRON Foundation Seek Dismissal of SEC Lawsuit

The SEC lacks the authority to regulate the sale of foreign digital assets to overseas investors on global platforms outside the United States. This is stated in the objection filed by TRON Foundation and its founder Justin Sun against the lawsuit submitted by the Commission. In March 2023, the SEC accused the entrepreneur and three […]

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ForkLog 18 01.04.2024

KuCoin Case Highlights CFTC and SEC Tensions

The U.S. Commodity Futures Trading Commission (CFTC) may have encroached on the authority of the SEC in its lawsuit against the cryptocurrency exchange KuCoin. This was stated by CFTC Commissioner Caroline Pham. “The lawsuit states that […] securities can themselves constitute leveraged trading under the Commodity Exchange Act. Such an interpretation does not distinguish between […]

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ForkLog 12 30.03.2024

ConsenSys Urges SEC to Approve Spot Ethereum ETFs

The company behind the cryptocurrency wallet MetaMask, ConsenSys, has sent a letter to the U.S. Securities and Exchange Commission (SEC) urging the approval of spot Ethereum ETFs. In our comment letter to the SEC on ETH ETF approval, “We urge the Commission to recognize the advanced safeguards inherent in Ethereum’s design”. ? https://t.co/agfLYbl1Vt — Consensys […]

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ForkLog 9 28.03.2024

GSR Lowers May Approval Odds for Ethereum ETF to 20%

Market maker GSR has reduced the likelihood of approval for spot exchange-traded funds based on Ethereum in May to 20%, according to The Block. “We now believe the probability of the SEC approving spot ETH-ETFs in May is 20%,” stated company analyst Brian Rudick. In January, GSR’s estimate reached 75%. This optimistic outlook was explained […]

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ForkLog 13 27.03.2024

US Senators Demand SEC Clarify Prometheum’s Crypto Activities

Several members of the US House of Representatives have sent a letter to the SEC demanding an explanation of the legality of digital asset broker Prometheum’s cryptocurrency operations. In February, the company announced plans to custody Ethereum for its clients, with the service expected to launch in the second quarter. The senators, most of whom […]

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ForkLog 20 26.03.2024

SEC Seeks $2 Billion Penalty for Ripple Labs

The United States Securities and Exchange Commission (SEC) intends to request a court to impose a $2 billion fine on Ripple Labs, including penalties. This information has reached the firm’s legal representatives. As you will see when the SEC’s brief is made public tomorrow, they ask the Judge for $2B in fines and penalties. 1/4 […]

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ForkLog 24 26.03.2024

Impact of SEC’s Inquiry into Ethereum Foundation on ETH-ETF Approval: ForkLog Analysis

The Ethereum Foundation and several other unnamed organizations have received inquiries from the SEC regarding the status of ETH. ForkLog examines how this development might affect the approval of a spot exchange-traded fund based on the second-largest cryptocurrency by market capitalization. Following the registration of a BTC-ETF on January 10, Bloomberg analysts Eric Balchunas and […]

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ForkLog 9 23.03.2024

SEC Delays Decision on Grayscale’s Ethereum Futures ETF

The U.S. Securities and Exchange Commission (SEC) has postponed the deadline for reviewing Grayscale Investments’ Ethereum Futures Trust ETF application to May 30, 2024. “The Commission finds it appropriate to set a longer period within which to issue an order approving or disapproving the proposal so that it has sufficient time to consider the proposal,” […]

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ForkLog 7 23.03.2024

Gary Gensler Criticizes Crypto Firms for Avoiding Registration

Gary Gensler, Chairman of the SEC, stated during a speech at Columbia Law School that cryptocurrency companies need “a little disinfectant.” This was reported by The Block. He noted that disclosure by financial companies ensures market efficiency and investor protection, yet some in the crypto industry seek to evade registration requirements. “A lack of registration […]

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