The Securities and Exchange Commission (SEC) has recently concluded its investigation into Hiro Systems and the Stacks blockchain, after more than three years of scrutiny. This investigation, which began following the first SEC-qualified offering by Stacks in 2019, has been a significant chapter in the history of the Bitcoin Layer-2 network. Despite the prolonged investigation,
Regulation
The Securities and Exchange Commission (SEC) has officially closed its investigation into Hiro and the Stacks blockchain without recommending any enforcement action. This investigation, which spanned over three years, has been a pivotal chapter in the history of the Bitcoin Layer-2 network. The SEC’s Enforcement Division initiated the investigation following the first-ever SEC-qualified offering by
Decentralized Autonomous Organizations (DAOs) have been gaining popularity in the business world as blockchain-based communities that work towards common goals. Market experts believe that these innovative organizations could revolutionize corporate governance in the future. Recently, the UK Law Commission released a scoping paper addressing the legal characterization of DAOs in the country and exploring how
The US Securities and Exchange Commission (SEC) has recently made a decision to accept a proposal that includes exceptions for specific institutions affected by the controversial Staff Accounting Bulletin No. 121 (SAB 121). This move is meant to provide relief to banks and brokerages when it comes to balance sheet reporting involving cryptocurrencies. Under the
The recent attempt by the US House of Representatives to overrule President Joe Biden’s veto and rescind SEC Staff Accounting Bulletin (SAB) 121 fell short due to insufficient votes. Despite 228 House members voting in favor of HJ Res. 109 to end SAB 121, the outcome did not meet the two-thirds vote threshold required to
The US Securities and Exchange Commission (SEC) has officially concluded its investigation into stablecoin issuer Paxos. This decision was communicated to Paxos on July 9, putting an end to over a year of uncertainty surrounding the regulatory scrutiny of the company’s stablecoin, Binance USD (BUSD). The SEC’s decision comes after a prolonged legal battle that
Rostin Behnam, chair of the Commodity Futures Trading Commission (CFTC), recently expressed openness to the idea of the agency serving as a primary regulator for cryptocurrencies. During a Senate Agriculture Committee hearing focused on digital commodities oversight, Behnam discussed the agency’s capacity to take on a more central role in regulating the crypto market. Senator
Bitwise’s Chief Compliance Officer, Katherine Dowling, recently shared that spot Ethereum ETFs are nearing approval, emphasizing that the Securities and Exchange Commission (SEC) has been receptive to discussions regarding other financial products. In a statement to Bloomberg on July 9, Dowling expressed optimism about the progress being made, highlighting that the SEC and ETF issuers
The Republican Party’s official platform for the 2024 election includes Bitcoin and crypto, reflecting a broader shift within the party towards embracing digital assets and blockchain technology. Former President Trump’s recent statements have influenced this change, as well as the growing interest among the party’s voter base in cryptocurrency. The platform opposes the creation of
Messari, a prominent US-based crypto market intelligence platform, has recently made a bold declaration of independence from the Securities and Exchange Commission (SEC). The CEO of Messari, Ryan Selkis, publicly announced this decision on July 7, citing the regulator’s strict and unyielding approach to the evolving crypto industry. Selkis proclaimed that Messari will be initiating
