SEC Commissioner Jaime Lizárraga asserted that the digital asset market is not currently a viable alternative to traditional finance, and that contrary to popular belief, the industry is highly centralized.
The U.S. District Court for the District of New Hampshire ruled that digital asset company LBRY violated U.S. securities laws as a result of selling tokens that were securities without registering the tokens with the SEC.
Social media influencer Kimberly Kardashian settled SEC charges for unlawfully advertising a crypto-asset security on social media without disclosure of her compensation.
A cryptocurrency firm settled SEC charges for publicly offering tokens that the SEC considered to be securities under the Howey test.
In testimony before the Senate Banking Committee, SEC Chair Gary Gensler outlined the agency's responses to current forces changing the face of finance from new "[f]inancial technologies and business models, from predictive data analytics to crypto."