• The US Securities and Exchange Commission (SEC) passed a suite of crypto legislation in the House Financial Services Committee this week.
• Sam Bankman-Fried surrendered Caroline Ellison’s personal writings to court, while Democratic congressman Ritchie Torres criticized SEC Chairman Gary Gensler’s actions as “arbitrary and capricious”.
• SEC Commissioner Hester Peirce called into question the warning from the watchdog’s chief accountant about legal liabilities with non-audit works for crypto firms.
SEC Passes Crypto Legislation
The United States Securities and Exchange Commission (SEC) passed a suite of crypto legislation in the House Financial Services Committee this week, which is a major milestone for the industry. This means that there are now clearer regulations on cryptocurrencies that will help protect investors and promote innovation.
Sam Bankman-Fried Surrenders Writings To Court
Sam Bankman-Fried, CEO of FTX, recently surrendered Caroline Ellison’s personal writings to court following a dispute over her alleged involvement in anti-competitive practices. This case is an example of how cryptocurrency firms can face scrutiny from regulators if they fail to comply with all applicable laws and regulations.
Ritchie Torres Criticizes SEC
Democratic congressman Ritchie Torres has criticized SEC Chairman Gary Gensler’s actions as „arbitrary and capricious“. He believes that Gensler has overstepped his authority by attempting to impose strict regulations on the cryptocurrency industry without consulting Congress or engaging with stakeholders first.
Jason Lowrey’s Book Removed From Circulation
Jason Lowrey’s book on the strategic significance of Bitcoin was removed from circulation and from MIT library for unknown reasons. This incident highlights the need for more transparency when it comes to censorship related to cryptocurrency topics, especially when it affects academic research materials like books or articles.
Hester Peirce Calls Warning Into Question
SEC Commissioner Hester Peirce has called into question a warning from the watchdog’s chief accountant about legal liabilities with non-audit work for crypto firms. She believes that good faith efforts should be encouraged rather than discouraged by discouraging accounting firms from providing more transparency into cryptocurrencies markets.