Instead of repealing SAB 121, or working with Congress or banking regulators to amend it, the SEC has essentially decided to approve individual firms on an ad hoc basis.
The reversal comes after Galaxy had initially won a dismissal of the lawsuit in June 2023 in a lower court.
Between Elizabeth Warrens “anti-crypto army” and the SECs Gary Gensler’s regulation-by-enforcement, the crypto community is slowly being pushed farther and farther into the arms of Trump and the Republican party.
This marks a big improvement from previous estimates in October, which predicted only a 90% payout. But still, not everyone is stoked.
Robinhood’s (HOOD) digital assets arm, Robinhood Crypto, announced that it received a Wells Notice from the SEC.
The recent events represent a serious warning to those operating outside the great sphere of surveillance.
The SEC issued a Wells Notice to Uniswap Labs, signaling an upcoming lawsuit likely over securities violations.
While Galaxy shares are up more than 200% over the last year, its obvious to anyone paying attention to the stock that the company isn’t getting the same love from retail as companies like Coinbase (COIN) or Microstrategy (MSTR).
One of the most disgusting aspects of the American government (and there are many) is the revolving door between regulators and the regulated.
While it's the first major US crypto sale this year, onlookers say it's a drop in the bucket compared to recent Grayscale ETF outflows.
The level of irony in all of it is nothing short of remarkable.
2024 is shaping up to be the biggest crypto election season yet, with both sides flexing their muscles as of late.
