SEC Asking for Jurisdiction Over All Crypto Exchanges Is ‘a Blatant Power Gra...
U.S. Congressman Patrick McHenry has slammed the U.S. Securities and Exchange Commission (SEC) for asking for jurisdiction over all crypto exchanges, including non-securities ones. He called it “a blatant power grab that will hurt American innovation,” adding, “We don’t need another backroom deal between Gensler and Elizabeth Warren.” Lawmaker Slams SEC for Blatant Power Grab Over Crypto Rep. Patrick McHenry from North Carolina released a statement Wednesday in response to a letter SEC Chairman Gary Gensler sent to Senator Elizabeth Warren about cryptocurrency....
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Does distributed presence create distributed liability? Does participation in a blockchain based decentralized autonomous organization (DAO) subject you to worldwide liability? While a one-sized fits all rule isn't possible, it may help to understand what jurisdiction means and how Courts acquire it.[1] (If you're trying to understand why this even matters, you'll find this author's views on the subject in an earlier post titled "How to Sue a DAO"). 1. What is jurisdiction anyway? Jurisdiction refers to a Court's authority to apply laws to disputes between parties and to do so in....
Senator Emmer highlighted the SEC’s politicization of regulations and called them power-hungry regulators that discourage good-faith regulations. Tom Emmer, the Republican Senator from Minnesota, has become the latest politician to blast the United States Securities and Exchange Commission (SEC) for its unethical actions against crypto companies.Emmer posted a video on Tuesday showing his conversation at the House Committee on Financial Services, where he accused the SEC of politicizing regulations. He went on to grill SEC Enforcement Director Gurbir Grewal over SEC’s unethical “industry....
The Blockchain Money conference had a slow start on its second and final day with the only bitcoin developer on the agenda, Jeff Garzik, not appearing, but it quickly began to get interesting as a European Member of Parliament, Eva Kaili, who is currently part of a small team looking into digital currency regulations, loudly stated: “We want to return control to citizens… taking power from banks would be amazing.” When I asked her about EU regulations, she stated that they are taking a “hands-off approach” as “we don’t want to stand in the way of innovation.” “Taking power from banks would....
For now, these claims have not been proven, and should be ignored for the time being. OneCoin is not a cryptocurrency, and anyone claiming otherwise is one of their paid shills. The OneCoin saga seems to be far from over right now. One thing has to be said”: the team behind this project will stoop to new lows to keep up the illusion of credibility. In a recent Youtube video, the team claims Semper Fortis is verifying OneCoin as a cryptocurrency. These claims are false, and OneCoin remains a bag of hot air. For those who are unaware, the OneCoin program is nothing more than a blatant Ponzi....
U.S. Congress will need to step in to decide who gets crypto regulation bragging rights if the SEC and CFTC cannot resolve the issue internally. A United States Senator Cynthia Lummis staffer believes that U.S. Congress will have to step in and resolve the dispute between the Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) regarding who regulates cryptocurrencies if the matter cannot be resolved internally. The issue stems from 2014 when the CFTC first asserted jurisdiction over virtual currencies. This was later reaffirmed by a U.S. Federal....