Lawmakers and witnesses at the Senate hearing called on the SEC to ensure a catastrophic failure like the crypto market crash doesn't happen again.
for doing “rounds on the morning talk shows” rather than testifying. According to the South Carolina senator, the SEC had not provided “the slightest bit of guidance,” potentially leading to the lack of investor protection at bankrupt firms including FTX, Terra, BlockFi, Voyager, and Celsius.
“To think the SEC has failed to take any meaningful preemptive action to ensure this type of catastrophic failure does not happen again,” said Scott. “If they have the tools they need, were they just asleep at the wheel? [...] We’d be happy to have chairman Gensler testify sooner — much sooner — than later.”Witnesses testifying at the hearing proposed different approaches for lawmakers seeking to regulate crypto.
“The SEC has not initiated any formal rulemaking process to update securities laws that are decades old to account for the unique attributes of digital assets that are determined to be securities.” Vanderbilt University law professor Yesha Yadav echoed some of Jeng’s concerns on developing a federal framework for crypto, but also proposed a self-regulatory regime in which exchanges could oversee themselves as a complement to public regulation. Firms that failed to comply with the rules could be forced to pay financial penalties.
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
SEC plans to sue crypto firm Paxos over Binance tokenThe Securities and Exchange Commission has told crypto firm Paxos Trust Co. that it plans to sue the company for violating investor protection laws,...
Weiterlesen »
SEC's crypto staking crackdown has uncertain consequences for DeFi: Lido FinanceAccording to a member of the DAO that manages Lido Finance, crackdowns from the SEC on crypto staking could result in a shaky future for decentralized finance (DeFi) in the United States.
Weiterlesen »
SEC lawsuit against Paxos over BUSD baffles crypto communityOne community member called out SEC chairperson Gary Gensler and said that the official is on an “unhinged, unchecked crusade against crypto.”
Weiterlesen »
DeFi Could Face Challenges Due to SEC's Crackdown on Crypto Staking: Lido DAO ExecBlish believes the biggest challenge would emerge if the SEC decides that no U.S. citizen should interact with crypto staking protocols.
Weiterlesen »
Algorand Foundation CEO on Crypto-Staking After Kraken’s SEC SettlementCoinbase CEO Brian Armstrong says he's heard rumors the U.S. Securities and Exchange Commission would like to ban retail investors from engaging in cryptocurrency staking. Algorand Foundation CEO Staci Warden discusses what this could mean for crypto stakers, as Kraken shut its staking services as a part of its SEC settlement. Plus, the latest on Algorand Foundation's partnerships in India for Web3 growth.
Weiterlesen »