SECCryptoAccounting
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SECâs Aggressive Crypto Stance Resulted in $15 Billion Loss, Claims John Deaton #SECCryptoAccounting
Deaton said the SECâs actions have led to losses exceeding $15 billion for retail investors
$BTC
John Deaton, a well-known pro-crypto attorney and U.S. Senate candidate, has accused the Securities and Exchange Commission (SEC) of causing significant financial harm to small investors through its regulatory approach to cryptocurrencies.
$ETH
In a recent post on X, Deaton said the SECâs actions have led to losses exceeding $15 billion for retail investors.
$BNB
Deaton, who has represented thousands of XRP holders in legal proceedings, claimed the SECâs enforcement practices amounted to âgross overreach,â significantly impacting small investors.
âThe SECâs misconduct and gross overreach caused small investors over $15 billion. On behalf of those 75K small investors I represented, we do not accept the SECâs apology.
SEC Faces Scrutiny for its Aggressive Regulatory Stance
His criticism comes at a time when the SEC has faced increasing scrutiny for its aggressive regulatory posture toward the crypto industry.
Deaton, who won the Republican nomination for the U.S. Senate in Massachusetts, is set to challenge Democratic Senator Elizabeth Warren in the upcoming November election.
He highlighted that he intends to hold the SEC accountable, particularly since, in his view, Senator Warren has been reluctant to do so.
The critique of the SEC coincides with a surprising shift in the agencyâs stance regarding.
In a court filing shared by Coinbaseâs Chief Legal Officer, Paul Grewal, the SEC acknowledged that it no longer views cryptocurrencies themselves as securities.
âThe SEC regrets any confusion it may have invitedâ by previously suggesting that tokens themselves were securities,â the SECâs amended complaint against Binance included a notable statement.
This represents a departure from the SECâs earlier position, particularly regarding XRP, which had been classified as a security in past legal disputes.
Deaton said the SECâs actions have led to losses exceeding $15 billion for retail investors
$BTC
John Deaton, a well-known pro-crypto attorney and U.S. Senate candidate, has accused the Securities and Exchange Commission (SEC) of causing significant financial harm to small investors through its regulatory approach to cryptocurrencies.
$ETH
In a recent post on X, Deaton said the SECâs actions have led to losses exceeding $15 billion for retail investors.
$BNB
Deaton, who has represented thousands of XRP holders in legal proceedings, claimed the SECâs enforcement practices amounted to âgross overreach,â significantly impacting small investors.
âThe SECâs misconduct and gross overreach caused small investors over $15 billion. On behalf of those 75K small investors I represented, we do not accept the SECâs apology.
SEC Faces Scrutiny for its Aggressive Regulatory Stance
His criticism comes at a time when the SEC has faced increasing scrutiny for its aggressive regulatory posture toward the crypto industry.
Deaton, who won the Republican nomination for the U.S. Senate in Massachusetts, is set to challenge Democratic Senator Elizabeth Warren in the upcoming November election.
He highlighted that he intends to hold the SEC accountable, particularly since, in his view, Senator Warren has been reluctant to do so.
The critique of the SEC coincides with a surprising shift in the agencyâs stance regarding.
In a court filing shared by Coinbaseâs Chief Legal Officer, Paul Grewal, the SEC acknowledged that it no longer views cryptocurrencies themselves as securities.
âThe SEC regrets any confusion it may have invitedâ by previously suggesting that tokens themselves were securities,â the SECâs amended complaint against Binance included a notable statement.
This represents a departure from the SECâs earlier position, particularly regarding XRP, which had been classified as a security in past legal disputes.
SEC Backs Down - Tokens Were Never Securities đ
The SEC said it never explicitly called tokens securities, according to a footnote in the regulator's lawsuit against Binance.
When using the term âcrypto asset securities,â the Commission does NOT mean the token itself, but the entire set of contracts, expectations, and agreements.
đ€ The regulator "regrets" any confusion this may have caused and undertakes to no longer use it.
#SECCryptoAccounting #BinanceLaunchpoolHMSTR #BinanceLaunchpoolCATI #FTXSolanaRedemption #GrayscaleXRPTrust
The SEC said it never explicitly called tokens securities, according to a footnote in the regulator's lawsuit against Binance.
When using the term âcrypto asset securities,â the Commission does NOT mean the token itself, but the entire set of contracts, expectations, and agreements.
đ€ The regulator "regrets" any confusion this may have caused and undertakes to no longer use it.
#SECCryptoAccounting #BinanceLaunchpoolHMSTR #BinanceLaunchpoolCATI #FTXSolanaRedemption #GrayscaleXRPTrust
SEC Clarifies Definition of "Crypto Asset Securities"
The SEC has recently clarified its stance on what constitutes "crypto asset securities." According to the updated definition, it is not the crypto assets themselves that are considered securities, but rather the contracts, expectations, and agreements tied to their sale and promotion. This clarification aims to resolve confusion stemming from the SEC's use of the term in legal cases, particularly against Binance.
Key Points:
Definition Clarified: The SEC emphasizes that the term "crypto asset securities" refers to investment contracts associated with crypto assets, not the assets themselves.
Rippleâs Reaction: Ripple has criticized this clarification, highlighting it as a sign of the SEC's inconsistent approach. Rippleâs legal team points out that proving a "crypto asset security" requires evidence of specific contracts and expectations.
Industry Impact: This move could reshape how regulatory bodies and market participants approach crypto assets, potentially reducing legal uncertainty but also altering the regulatory landscape.
The clarification aims to improve regulatory clarity and address concerns about the SEC's previous use of the term. However, it also underscores ongoing debates about regulatory consistency in the crypto space.
#SECCryptoAccounting #BinanceLaunchpoolCATI #BinanceLaunchpoolHMSTR #FTXSolanaRedemption #DOGSONBINANCE
The SEC has recently clarified its stance on what constitutes "crypto asset securities." According to the updated definition, it is not the crypto assets themselves that are considered securities, but rather the contracts, expectations, and agreements tied to their sale and promotion. This clarification aims to resolve confusion stemming from the SEC's use of the term in legal cases, particularly against Binance.
Key Points:
Definition Clarified: The SEC emphasizes that the term "crypto asset securities" refers to investment contracts associated with crypto assets, not the assets themselves.
Rippleâs Reaction: Ripple has criticized this clarification, highlighting it as a sign of the SEC's inconsistent approach. Rippleâs legal team points out that proving a "crypto asset security" requires evidence of specific contracts and expectations.
Industry Impact: This move could reshape how regulatory bodies and market participants approach crypto assets, potentially reducing legal uncertainty but also altering the regulatory landscape.
The clarification aims to improve regulatory clarity and address concerns about the SEC's previous use of the term. However, it also underscores ongoing debates about regulatory consistency in the crypto space.
#SECCryptoAccounting #BinanceLaunchpoolCATI #BinanceLaunchpoolHMSTR #FTXSolanaRedemption #DOGSONBINANCE
#ETFEthereum #ETHETFsApproved #ETHđ„đ„đ„đ„ #SECCryptoAccounting #CryptoNewsCommunity
In a sudden turn of events, the SEC approved a Spot ETH ETF and the market heated up.
They are clearly focused on developing cool technology that the wider public will appreciate, without worrying about regulatory approval.
$ETH $BTC
In a sudden turn of events, the SEC approved a Spot ETH ETF and the market heated up.
They are clearly focused on developing cool technology that the wider public will appreciate, without worrying about regulatory approval.
$ETH $BTC
The SEC lawsuit against Kraken going to trial could stir things up in the crypto realm. Investors might get spooked with more regulatory oversight. It's crucial to keep an eye on how this legal battle unfolds and its impact on the crypto market. #DOGSONBINANCE #SECCryptoAccounting #BNBChainMemecoins
BREAKING: đșđž
The SEC asserts that NFTs are securities and has
issued a Wells Notice threatening to sue
OpenSea.
Vote for me to get 5usdt daily until 29 August
#DOGSONBINANCE #SECCryptoAccounting #PowellAtJacksonHole #BlackRockâ© #BlackRockETHOptions
The SEC asserts that NFTs are securities and has
issued a Wells Notice threatening to sue
OpenSea.
Vote for me to get 5usdt daily until 29 August
#DOGSONBINANCE #SECCryptoAccounting #PowellAtJacksonHole #BlackRockâ© #BlackRockETHOptions
This friday can determinate high or low đâïž
All eyes are currently focused on the Federal Reserve as people eagerly anticipate a decision on interest rates. Analysts widely expect that the rates will remain steady for now, but there is growing speculation that we might see a reduction in rates come September.
#SECCryptoAccounting #SOFR_Spike #US_Job_Market_Slowdown #MtGoxJulyRepayments #SuperMacho
$BTC $ETH $XRP
All eyes are currently focused on the Federal Reserve as people eagerly anticipate a decision on interest rates. Analysts widely expect that the rates will remain steady for now, but there is growing speculation that we might see a reduction in rates come September.
#SECCryptoAccounting #SOFR_Spike #US_Job_Market_Slowdown #MtGoxJulyRepayments #SuperMacho
$BTC $ETH $XRP
### đš JUST IN: #SECCryptoAccounting Issues Statement on Ethereum ETFs â Big Day Tomorrow, Sources Say đš
The US Securities and Exchange Commission (SEC) has taken a significant step forward in the approval process for spot Ethereum ETFs. Here's what you need to know:
đ **Submission Deadline:** Companies issuing spot Ethereum ETFs must submit draft S-1 forms by the week's end.
đ **Milestone:** Approval of forms 19b-4 on May 23 marked a crucial milestone.
đ **S-1 Forms:** Finalization is next, but last-minute changes from the SEC delayed preparation.
đ **Feedback Loop:** The SEC will review draft S-1 filings and provide feedback, requiring further adjustments.
đ **Key Players:**
- **VanEck:** Filed a modified version of its S-1 form.
- **#BlackRock:** Detailed a $10 million funding for its #ETF on May 30.
đ **Complex Process:** Seed investment details are straightforward, but other aspects may require more time.
đ **Draft Rounds:** At least two more rounds of drafts are expected before S-1 forms are finalized.
đ **Timeline:** Analysts predict that completing S-1 forms will take several weeks, potentially extending to several months.
đ **Market Impact:** Some traders see the delay positively, allowing for thorough scrutiny and potentially contributing to a more stable market once trading begins.
*This is not investment advice.
#ETHETFsApproved #altcoins
The US Securities and Exchange Commission (SEC) has taken a significant step forward in the approval process for spot Ethereum ETFs. Here's what you need to know:
đ **Submission Deadline:** Companies issuing spot Ethereum ETFs must submit draft S-1 forms by the week's end.
đ **Milestone:** Approval of forms 19b-4 on May 23 marked a crucial milestone.
đ **S-1 Forms:** Finalization is next, but last-minute changes from the SEC delayed preparation.
đ **Feedback Loop:** The SEC will review draft S-1 filings and provide feedback, requiring further adjustments.
đ **Key Players:**
- **VanEck:** Filed a modified version of its S-1 form.
- **#BlackRock:** Detailed a $10 million funding for its #ETF on May 30.
đ **Complex Process:** Seed investment details are straightforward, but other aspects may require more time.
đ **Draft Rounds:** At least two more rounds of drafts are expected before S-1 forms are finalized.
đ **Timeline:** Analysts predict that completing S-1 forms will take several weeks, potentially extending to several months.
đ **Market Impact:** Some traders see the delay positively, allowing for thorough scrutiny and potentially contributing to a more stable market once trading begins.
*This is not investment advice.
#ETHETFsApproved #altcoins
SEC CREATES TASK FORCE TO COMBAT CRYPTO AND SECURITIES FRAUD đ€„ đ€„ đ€„
SEC forms Interagency Securities Council (ISC) to fight crypto and securities fraud
Council unites over 100 agencies to enhance cooperation and information sharing
Focus on identifying new trends in scams and fraud, and preventing memecoin pump-and-dump schemes
ISC to convene quarterly, led by SEC's Division of Enforcement
SEC warns of AI-enhanced crypto scams using deepfakes and social media
Pump-and-dump schemes on the rise, especially in low-quality or speculative coins
SEC takes action to protect investors and prevent fraud in the crypto space!
$BTC $ETH $SOL
#Write2Earn! #ETH_ETF_Approval_23July #BinanceHODLerBANANA #SECCryptoAccounting
SEC forms Interagency Securities Council (ISC) to fight crypto and securities fraud
Council unites over 100 agencies to enhance cooperation and information sharing
Focus on identifying new trends in scams and fraud, and preventing memecoin pump-and-dump schemes
ISC to convene quarterly, led by SEC's Division of Enforcement
SEC warns of AI-enhanced crypto scams using deepfakes and social media
Pump-and-dump schemes on the rise, especially in low-quality or speculative coins
SEC takes action to protect investors and prevent fraud in the crypto space!
$BTC $ETH $SOL
#Write2Earn! #ETH_ETF_Approval_23July #BinanceHODLerBANANA #SECCryptoAccounting
$XRP
XRP Whales Move 230 Million Coins as Ripple vs. SEC Lawsuit Nears Conclusion
âą XRP whales have transferred 230 million XRP, worth over $109 million, in the past 24 hours, stirring speculations about the cryptocurrency's future price movements as the Ripple vs. SEC lawsuit nears its conclusion.
âą The lawsuit, which involves potential fines of approximately $2 billion, has seen a recent development in Judge Torres' ruling that XRP secondary sales are not considered securities, shifting the balance in Ripple's favor.
âą While one whale dumped 30.93 million XRP to Bitstamp, another moved 200 million coins to an unknown wallet, leading to mixed sentiments in the market.
âą XRP's price has shown a positive trend, gaining 1.39% over the past day to trade at $0.4802, supported by increased whale accumulations and the favorable legal developments.
#Xrpđ„đ„ #SECCryptoAccounting #WhalesBuying
XRP Whales Move 230 Million Coins as Ripple vs. SEC Lawsuit Nears Conclusion
âą XRP whales have transferred 230 million XRP, worth over $109 million, in the past 24 hours, stirring speculations about the cryptocurrency's future price movements as the Ripple vs. SEC lawsuit nears its conclusion.
âą The lawsuit, which involves potential fines of approximately $2 billion, has seen a recent development in Judge Torres' ruling that XRP secondary sales are not considered securities, shifting the balance in Ripple's favor.
âą While one whale dumped 30.93 million XRP to Bitstamp, another moved 200 million coins to an unknown wallet, leading to mixed sentiments in the market.
âą XRP's price has shown a positive trend, gaining 1.39% over the past day to trade at $0.4802, supported by increased whale accumulations and the favorable legal developments.
#Xrpđ„đ„ #SECCryptoAccounting #WhalesBuying
đșđž ELECTIONS đșđž
While the USA has had its fair share of bad politics, none have compared to the last four years. đșđž
We can talk about the economy, but even that does not interest us that much. What does interest us is crypto and how it evolves. Whether we admit it or not, the truth is the USA has a big influence in the crypto space. đđ°
The next step in crypto remains clear: regulation. That is when the real money starts pouring in. However, the anti-crypto policies that their leadership has implemented have negatively impacted the lives of crypto projects and investors alike. đ«â
What gives me hope is that their elections are right around the corner. With Trump being pro-crypto, I believe he has a better chance of winning, and with that, bring the bullish sentiment to an even higher level. đșđžđ
That is when $BTC , $ETH ,$BNB and all other altcoins will see the mega pump! đđ°
All we can do now is wait, and be ready, for when the time comes, we will be at the forefront! đȘđ
#CryptoWatchMay2024 #altcoins #BullishMay #SECCryptoAccounting
While the USA has had its fair share of bad politics, none have compared to the last four years. đșđž
We can talk about the economy, but even that does not interest us that much. What does interest us is crypto and how it evolves. Whether we admit it or not, the truth is the USA has a big influence in the crypto space. đđ°
The next step in crypto remains clear: regulation. That is when the real money starts pouring in. However, the anti-crypto policies that their leadership has implemented have negatively impacted the lives of crypto projects and investors alike. đ«â
What gives me hope is that their elections are right around the corner. With Trump being pro-crypto, I believe he has a better chance of winning, and with that, bring the bullish sentiment to an even higher level. đșđžđ
That is when $BTC , $ETH ,$BNB and all other altcoins will see the mega pump! đđ°
All we can do now is wait, and be ready, for when the time comes, we will be at the forefront! đȘđ
#CryptoWatchMay2024 #altcoins #BullishMay #SECCryptoAccounting
đ„READYđ„
$BTC
Bitcoin's price action lately has been a snoozefest, and there's a good reason for it. đŽ
After the big crash from $72K to below $70K, the unemployment rate news spooked investors and sent the price plummeting. đ±đ
Now, Bitcoin's chilling around $69,500, testing old support levels. đ„¶
In my opinion, this price party's on hold until Federal Reserve Chair Jerome Powell speaks on Wednesday, June 12 at 9:30 p.m. đŁïž
Big bulls and bears are waiting for that day to decide where the price is headed next. đđđ»
Stay alert, folks, but maybe sit this trading round out! â ïž
#BTC #bitcoin #altcoins #SECCryptoAccounting #ETHETFsApproved
$BTC
Bitcoin's price action lately has been a snoozefest, and there's a good reason for it. đŽ
After the big crash from $72K to below $70K, the unemployment rate news spooked investors and sent the price plummeting. đ±đ
Now, Bitcoin's chilling around $69,500, testing old support levels. đ„¶
In my opinion, this price party's on hold until Federal Reserve Chair Jerome Powell speaks on Wednesday, June 12 at 9:30 p.m. đŁïž
Big bulls and bears are waiting for that day to decide where the price is headed next. đđđ»
Stay alert, folks, but maybe sit this trading round out! â ïž
#BTC #bitcoin #altcoins #SECCryptoAccounting #ETHETFsApproved