Crypto Regulation Or Overreach? SEC’s Warning Draws Mixed Reactions
The US Securities and Exchange Commission (SEC) has issued a dire warning to accounting firms conducting audits in the crypto asset space. In a statement released on July 27, SEC Chief Accountant Paul Munter expressed concerns about the potential for misleading information to be presented to investors through non-audit work, which he argued is not […]
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Bitcoin experts gave different reactions to the Florida court ruling last week that bitcoin is not currency, according to CNBC, including the view that the ruling doesn’t have much impact on the cryptocurrency’s future. Florida judge Teresa Pooler dismissed felony charges against Michell Espinoza who sold bitcoins to an undercover detective. Pooler ruled that bitcoins are not tangible wealth. She noted that the cryptocurrency cannot be hidden under a mattress like gold bars and cash. The prosecution charged Espinoza with violating an anti-money laundering statute. Judge: Bitcoin Not There....
Bitcoin experts gave different reactions to the Florida court ruling last week that bitcoin is not currency, according to CNBC, including the view that the ruling doesn’t have much impact on the cryptocurrency’s future. Florida judge Teresa Pooler dismissed felony charges against Michell Espinoza who sold bitcoins to an undercover detective. Pooler ruled that bitcoins are not tangible wealth. She noted bitcoins cannot be hidden under a mattress like gold bars and cash. The prosecution charged Espinoza with violating an anti-money laundering statute. Judge: Bitcoin Not There Yet. Pooler....
Some players in the industry could find U.S. regulators making a "big overreach" if agencies like the SEC listed specific criteria for cryptocurrencies as securities. Kathy Kraninger, former director of the United States Consumer Financial Protection Bureau, or CFPB, said while many in crypto have complained about the lack of regulatory clarity in the country, the legal gray area has afforded the industry opportunities.Speaking to Cointelegraph, Kraninger said Congressional action on dividing the roles of different regulatory agencies — including the Securities and Exchange Commission, or....
A recent development around approving a Bitcoin spot Exchange Traded Fund (ETF) in the US saw crypto asset manager Bitwise taking a stand against the SEC’s reasons for not approving their spot Bitcoin (BTC) fund. Deciphering The “Mixed” Academic Record To strengthen its case, Bitwise submitted a review of academic literature regarding the Bitcoin futures […]