Crypto Mom Blasts Gary Gensler’s “Wild West” Label Of Crypto Industry 

SEC commissioner Hester Peirce, a.k.a. crypto mom, recently posted a transcript of her speech at the Texas Blockchain Summit. In her remarks, she re-characterizes SEC Chairman Gary Gensler's oft-used "Wild West" criticism to compliment crypto. But, then, she follows up with some very critical questions of the chairman's regulatory approach thus far. 'Lawless in Austin': Peirce's Speech She posted her speech on October 8th, but it only gained traction recently after Peirce shared it through her Twitter. Providing a link,…

SEC Chair Gensler Confirms Crypto Will Not Be Banned In The US

In line with Jerome Powell’s comments last week, SEC chairman Gary Gensler confirms he has no plans to ban cryptocurrency. Instead, the SEC’s approach remains strictly on regulating the space and protecting consumers. Regulation: Banning, Says Gensler Gensler clarified his stance during a House hearing today in response to a question from Republican lawmaker Ted Budd. Representative Budd led the charge to amend dubious phrasing on cryptocurrency regulation in last month’s infrastructure bill. He also proposed an anti-crypto-terrorism bill in…

US Member of Parliament Proposes Safe Harbor Bill for Crypto Startups

Patrick McHenry– Republican House representative and ranking member of the House Financial Services Committee– continues fighting for the cryptocurrency industry. He recently presented a safe harbor bill designed to protect crypto-related startups from securities regulators.  The Clarity for Digital Tokens Act of 2021 McHenry’s bill was unveiled on Tuesday, before a committee hearing with SEC chairman Gary Genser. The proposed legislation seeks to “provide a safe harbor for transactions in certain tokens and other purposes.” It has been titled “The…

SEC Chair Says Crypto Products Cannot Evade Regulation

US Securities and Exchange Commission chair, Gary Gensler, advised crypto products offering returns to align with the law. He warned cryptocurrency platforms that 'somebody is going to get hurt' without safety measures. Gensler is confident that those cryptocurrency trading and lending platforms that promise returns to investors cannot evade the SEC law. However, he said that those crypto products offering returns to investors are wrong to think they can avoid the US Securities and Exchange Commission regulation. On Wednesday, the SEC…

Coinbase Accuses the SEC of ‘Using Intimidation Tactics’

Earlier today, Pro-XRP Attorney James Filan tweeted that the SEC "will stop at nothing" to have authority over the crypto space. In the tweet, he revealed that Coinbase believes the SEC is unlawfully stalling the launch of the exchange’s crypto lending program. More crypto enthusiasts have made their stance against the SEC’s ‘intimidation tactics.’   Coinbase's chief legal officer, Paul Grewal, wrote in a blog post that the regulatory agency threatened to sue the company if it launched the feature. Subsequently,…

Brian Armstrong Bashes The SEC for Not Explaining How Crypto Lending Falls Under Securities

Earlier today, Coinbase CEO Brian Armstrong expressed his disappointment on how the SEC handled the trading platform's request to launch a crypto lending feature. The CEO is surprised how the financial watchdog claims the element is a security feature without any explanation.  Furthermore, Mr. Armstrong feels the SEC is blocking Coinbase from lending while other platforms have practiced it for years. Is the SEC Biased or Confused? CEO Armstrong tweeted out his opinions, suggesting that the SEC is somewhat confused. He explained…

Understanding SEC’s Classification of Crypto-assets: Securities or Commodities?

Cryptocurrency growth in the last decade has taken the technological world by storm, and with this growth came a lot of questions and concerns. The classification of cryptocurrency is, primarily, a chief concern. The subject is one that courts, government agencies, and even financial markets struggle to grasp.  The primary debate begs an answer to an essential question: are they securities, or are they commodities?  Cryptocurrency traverses local, national, regional, and international boundaries. Hence the need for classification is both…

Hester ‘Crypto Mom’ Peirce To Be Reappointed as SEC Commissioner Until 2025

The United States government sent ten nominations and one withdrawal to the senate on June 2. One of the nominees is Hester Peirce who is affectionately called ‘Crypto Mom.’ According to the website of the White House, it seems she will serve on the U.S. Securities and Exchange Commission until 2025. “Hester Maria Peirce, of Ohio, to be a Member of the Securities and Exchange Commission for a term expiring June 5, 2025.  (Reappointment)” Pierce is among the individuals with great enthusiasm…

Securities Exchange Commission (SEC): The US Watchdog on Cryptocurrencies

Investors across the globe have always avoided the crypto market for its baffling qualities. The crypto world is renowned for its volatile prices that can ordinarily see prices fluctuate by a margin of up to 20%. It is for this reason that large investors are skeptical about joining the market. It is quite common to sleep a rich man and wake up impecunious as you lost all your wealth. However, the United States Securities and Exchange Commission, SEC, to join…