US senator blasts SEC for non-judicial actions against crypto companies
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....
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The Australian Competition and Consumer Commission (ACCC) is investigating why some Australian banks are closing bitcoin business bank accounts, according to the Australian Financial Review. The Australian Financial Review previously reported that 17 bitcoin companies in Australia received letters from banks saying they planned to close their accounts. Nationals Senator Matthew Canavan asked the ACCC to investigate the matter. Rod Sims, chairman of ACCC, said banks have been asked to explain their actions. He said the commission is also asking the banks what contact they had with each....
Eight days ago, the crypto lender Hodlnaut announced that the platform was suspending withdrawals after citing volatile market conditions. This week the company says it is seeking judicial management that aims to “provide the best chance of recovery.”
Hodlnaut Updates Customers — Crypto Lender Asks Singapore High Court for Judicial Management
The crypto lender Hodlnaut is looking for help from the courts so the platform can “avoid a forced liquidation” of the company’s assets. Last week on August 8, 2022, the crypto startup paused....
An Australian Senator has requested the country's competition overseer to start an inquiry into the banks' recent crackdown on Bitcoin companies. Senator Matthew Canavan, who was also part of the recent Senate Committee studying Bitcoin technology, doubted the coordinated approach of banks while shutting down the accounts of around 17 Bitcoin companies. He further implied that the banks are taking an unethical route to clamp down potentially competitive companies. "The actions by the banks," he wrote, "would appear to directly engage competition in the financial services industry as it....
A U.S. senator has asked the chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, to provide clear guidance on cryptocurrency regulation. The senator stated that in many enforcement actions, “the SEC did not identify the securities involved or the rationale for their status as securities, which would have provided much-needed public regulatory clarity.” US Senator Wants SEC to Provide Clear Guidance on Crypto Regulation Senator Pat Toomey, Ranking Member of the U.S. Senate Committee on Banking, Housing and Urban Affairs, wrote a letter to SEC Chairman....
Singaporean law offers temporary protection against any legal proceedings and claims, which the company believes would provide a breathing space to focus on its recovery plan. Singapore-based crypto lending platform Hodlnaut is seeking judicial management to manage its ongoing liquidity crisis and avoid the forced liquidation of assets in the current bear market.The crypto lender informed its users in a Tuesday announcement that they have applied to the Singapore High Court to be placed under judicial management. The firm said:“We are aiming to avoid a forced liquidation of our assets as....