The SOMA token is designed as a non-cumulative, participating preferred stock for SOMA.finance, offering the potential for a dividend payout of as much as 10% of its earnings.
Gathering all the Republican members of his panel, Patrick McHenry, who serves as the Chair of the House Financial Services Committee, led an inquiry with the SEC and FINRA regarding the distinctive standing of the company.
The recent Australian investigation targeting Binance employees outside their workplace is just one of many legal challenges confronting the world's largest cryptocurrency exchange.
The exchange expressed dissatisfaction with regulators' 'misleading' public statements regarding Binance's management of customer funds.
The agency's opportunity for public input is coming to an end regarding its proposal to broaden the scope of exchanges, encompassing a significant portion of decentralized finance. However, the crypto sector is expressing its opposition to this expansion.
The draft legislation put forth by prominent committee chairs stands as the most consequential proposal of the year, outlining potential measures for the federal government to establish safeguards within the digital assets industry.
The Global Financial Markets Association urged regulators to embrace the underlying technology of cryptocurrency with greater openness.
In November, a U.S. judge determined that the crypto startup had infringed upon securities laws by offering its native LBC token for sale without obtaining registration from the SEC.
The CEO of Zerocap, Ryan McCall, said, 'There's a significant value proposition here that we can essentially tokenize any asset and tie that into the ASX ecosystem.'
An industry investment banker told CoinCryptoUS that deals may need to be repriced.