The SEC charged two crypto firms, one an issuer and the other its agent, with conducting an unregistered securities offering through a program where retail investors, among others, could "loan" crypto-assets to the issuer in return for an obligation of the issuer to return the assets with interest.
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SEC Chair Gary Gensler contended that the "vast majority" of cryptocurrency tokens on the market are securities subject to SEC regulation.
The SEC charged three cryptocurrency entities and their founder with engaging in the unregistered offering of a crypto-asset.
SEC Chair Gary Gensler and CFTC Chair Rostin Behnam highlighted U.S. regulatory initiatives in "new era" for derivatives.
SEC Commissioners Allison Herren Lee and Elad L. Roisman advocated opposing viewpoints on changing the scope of the statutory definitions and exemptions from registration under the Securities Exchange Act and Securities Act.