In a Motion for Remedies, the SEC argued that crypto exchange Ripple should pay more than $2 billion in penalties for selling its token, XRP, to institutional investors.
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The SEC Division of Corporation Finance issued guidance on Division activities in the event of a government shutdown.
SEC Chair Gary Gensler criticized "those who seek to reduce information available to investors," including crypto industry participants who attempt to avoid registration and required disclosure requirements.
The SEC was sanctioned for presenting false and misleading evidence in obtaining a temporary restraining order and asset freeze against a crypto firm. Judge Robert J. Shelby delivered the ruling, calling the SEC's actions toward the crypto firm a "gross abuse of power."
Witnesses at a House Financial Services Oversight Subcommittee hearing titled "SEC Overreach: Examining the Need for Reform" reviewed the agency's approach to rulemaking.