Here Is SEC Chairman Gary Gensler Testimony About Crypto At the U.S. Senate Banking Committee Hearing

  SEC Chairman Testifies In Front Of U.S. Senate Banking Committee. As reported by The Crypto Basic SEC’s chair Gary Gensler was to testify in front of the U.S. Senate Banking, Housing, & Urban Affairs Committee Majority on September 15, 2022. Here is what Gary Gensler Said about crypto Before the United States Senate Committee […]

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Terra Legal battlefront in The US: Do Kwon And Terraform Labs Ordered To Heed SEC Subpoenas

A US Court has ordered Terra’s Do Kwon and Terraform Labs to comply with subpoenas issued by SEC.   Terra’s founder, Do Kwon, and his company, Terraform Labs, are still in legal muddy waters. Besides being investigated in South Korea, Do Kwon and TFL are now faced with another legal battlefront in the United States. […]

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Former U.S. SEC Chairman, Jay Clayton: “I Am A Huge Believer In Crypto Technology”

Former US SEC Chairman Jay Clayton said in a recent interview with CNBC that he is a big believer in crypto.   Jay was Chairman of the SEC during Donald Trump’s term when he was appointed by the former president and accepted by the federal senate in 2017. Former SEC Chairman, Jay Clayton is a […]

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SEC Chairman Gary Gensler: Crypto Without Regulation Is Like Wild West, At The Moment Public Is Not As Protected As It Should Be

  SEC Chairman Gary Gensler expressed his views on cryptocurrencies during DACOM 2021 (Video Below).   According to Gensler Cryptocurrencies have a future, but only in an environment of trust, where crypto does not avoid laws and regulations. Gensler said that he compares cryptocurrencies to the “Free Banking Era” from 1837 to 1863. In his […]

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U.S. Securities and Exchange Commission (SEC) Will Soon Be Able To Regulate Stable Coins

The US Securities and Exchange Commission (SEC) will receive the authority to regulate stable coins writes Bloomberg. The PWG formed to discuss stable coins included representatives of the Federal Deposit Insurance Corporation, the Federal Reserve System, the SEC, the CFTC, the Treasury Department, and the Office of the Comptroller of the Currency. SEC won a […]

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SEC Chairman, Gary Gensler Confirms That SEC Has No Plans To Ban Crypto, But Congress Could

U.S. Securities & Exchange Commission (SEC) Chairman Gary Gensler said the regulator is not planning to ban cryptocurrency. Read: Federal Reserve Chairman, Jerome Powell Said Fed Has No Intention To Ban Bitcoin Or Crypto At the House Committee on Financial Services hearing (Video Below) held on October 5, Gensler said the United States will not […]

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U.S. Securities And Exchange commission (SEC) Threatens to Sue Coinbase Over Lending Product

Coinbase announced its 4% savings product on stablecoins in June. Surprisingly, Coinbase has been warned by the SEC that it will sue them if they continue to move forward with their Lend product. Brian Armstrong, Coinbase CEO, revealed in a lengthy Twitter thread that the US Securities and Exchange Commission (SEC) threatened to sue Coinbase for […]

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SEC Sues Bitconnect And Its Top Executives In $2 Billion Fraud

BitConnect was a cryptocurrency lending platform. Which was viewed by many, including the SEC as a Ponzi scheme. On Wednesday, the Securities and exchange commission of United States (SEC) sued BitConnect founder for allegedly stealing approximately $2 billion from retail investors. The SEC brought up a civil case in May. It accused BitConnect founder Satish Kumbhani, […]

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Here are Instances SEC Contradicted Itself in Court on Security Status of Crypto Tokens

The U.S. SEC has exhibited significant inconsistencies in classifying crypto tokens in various court sessions, particularly evident during hearings involving…

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Trumps Camp Assures the Next SEC Chair Will Be Pro-Crypto

The transition team of US President-elect Donald Trump has assured that the next Chairperson of the Securities and Exchange Commission (SEC) will be pro-crypto.The crypto industry has recently faced hostile regulatory clampdowns, especially under the incumbent SEC chair, Gary Gensler. As a result, the sector heavily backed a pro-crypto president, Donald Trump, who promised to do away with the Gensler on his first day in office.Following Trumps victory, discussions on who would replace Gesler have gained momentum. The Crypto Basic reported that Trumps transition team is courting Robinhoods CLO Dan Gallagher and a few other lawyers to replace the US SEC chair.Meanwhile, FOX Business journalist Eleanor Terrett has provided a soothing update for crypto enthusiasts on the selection process for the next SEC boss. She revealed that the Trump transition team has its eyes only on candidates that are pro-crypto.Pro-Crypto: A Crucial Criteria for the Next SEC ChairIn a Friday tweet, Terrett revealed that she contacted a source close to Trumps transition team to discuss the names making the rounds as Genslers successor. The journalist also noted that she inquired if the team considered the candidates perception of cryptocurrency in the selection process.Notably, Terrett stated that she got an elating response from her anonymous source for the crypto community. She mentioned that the Trump transition team confirmed that the next SEC chair would be one who believes in and supports the nascent technology.Meanwhile, the response aligns with Trumps promises to the sector. During his campaign days, he unequivocally insisted that he supports cryptocurrencies and intends to foster their growth through his policies.Crypto Sector Brace Up for Regulatory ClarityAmid the positive development, the US crypto sector seems headed for regulatory clarity after uncertainties have prevailed in recent years. Notably, the industrys leaders have bemoaned that Gensler imposed unclear laws and handled the growing sector like a tyrant.Following Trumps electoral conquest, Coinbases CLO Paul Grewal has urged the SEC to refine its dealings with the crypto industry. He encouraged the Wall Street regulator to pursue interaction with exchanges over litigation, as observed in the over 100 lawsuits brought against them under Gensler.The imminent change in the SEC hierarchy could also bring an end to Ripples years-long legal battle with the regulator. Despite the final court decision, the SEC has pushed to appeal parts of the ruling.

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