Republicans on the House Financial Services Committee and the House Committee on Agriculture requested clarification from the SEC as to whether the Ethereum token, Ether, is a security.
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FINRA fined a muni dealer for MSRB Rule violations including (i) failing to timely cancel or close out inter-dealer municipal securities transactions after settlement; (ii) failing "to take prompt steps to obtain physical possession or control of 247 short positions resulting from failed inter-dealer municipal securities transactions;" and (iii) related supervisory violations.
SIFMA supported a Congressional joint resolution sponsored by Senator Cynthia Lummis (R-WY) and Representatives Mike Flood (R-NE) and Wiley Nickel (D-NC) to disapprove SEC Staff Accounting Bulletin No. 121, which prevents banks from providing custodial services to digital assets investors by requiring them to keep those assets on-balance sheet.
The SEC charged an online crypto asset trading platform for failing to register with the SEC as an exchange, as a clearing agency and as a broker-dealer of crypto asset securities.
House Financial Services Committee Chair Patrick McHenry (R-NC) and a bipartisan group of legislators asked banking regulators to clarify "through guidance and other actions" that an SEC Staff Accounting Bulletin, which describes how a custodian must account for digital assets, is not enforceable.