Someone familiar with the situation stated that the cost was below the $250 million that was spent on acquiring the custody firm Metaco back in May.
The prominent NFT project is on the verge of parting with a significant portion of its treasury as disillusioned investors prepare to make their exit.
Michael Barr, the head of the central bank's regulatory division, emphasized that the Federal Reserve is currently in the preliminary research stage and would require official legislation from Congress to formalize any action.
The SEC is working on having crypto platforms regulated like traditional securities exchanges. Some digital assets meet traditional tests applied to investment contracts and securities. Crypto trading and lending is highly concentrated in just a few platforms.
The Securities and Exchange Commission typically works to safeguard investors and the market. Its goal is to create a greater sense of market transparency by enforcing security laws and penalizing dishonest behavior in the market and financial sector. Cryptocurrencies are currently not fully registered with the SEC.
The SEC has released a statement proclaiming that crypto coins should be labelled as securities and crypto exchanges, therefore, need to register with the SEC. A security, as commonly defined, is any investment on which the investor hopes to profit via others' efforts. Essentially, a security is a tradable financial asset.
“ Gary Gensler was named as Biden’s pick for US Securities and Exchange Commission (SEC) Chairman ,” Kiguel said. “He is a Wall Street veteran with deep knowledge of the cryptocurrency space. This could lead to the approval of long-awaited bitcoin ETFs and crypto-friendly regulations.”
Gary Gensler from SEC says that all crypto based on the PoS algorithm might be qualified as equivalent to securities. How this ...
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