Search Results for: Hester Pierce

“Former SEC dignitary John Reed Stark speculates that the approval of Bitcoin Spot ETFs may be improbable due to regulatory hurdles. Despite Bitcoin price fluctuations, Stark believes a shift in political power towards Republicans could favor the crypto industry, potentially easing regulatory constraints and focusing more on fraudulent activities rather than registration violations. A move that could see Hester Pierce – ‘Crypto Mom’ – ascend the ranks, advocating for more crypto-friendly regulations.”

The SEC’s chief accountant, Paul Munter, issued a statement warning accounting firms against working with crypto platforms beyond comprehensive financial audits. He believes crypto firms may selectively present their business to deceive accounting firms and clients. Meanwhile, Commissioner Hester Pierce countered this, saying such caution could inhibit crypto platforms’ honest efforts.

The upcoming Markets in Crypto Assets (MiCA) regulation in the EU urges cryptocurrency companies to prepare for compliance. Although not effective until 2024, securing licenses and aligning with new rules requires substantial time and effort, with benefits including cross-EU operational capabilities and potential global standardization.

The SEC’s modification of William Hinman’s biography page has sparked speculation among digital asset enthusiasts, given his relevance in the ongoing Ripple-XRP case. Hinman’s 2018 speech on decentralization and the regulatory classification of Bitcoin and Ethereum may influence legislative proposals targeting the digital assets industry, potentially leading to significant SEC oversight and Safe Harbor provisions for certain projects.

Crypto prices stayed stable, despite the U.S. regulators and blockchain industry debate, as SEC Chairman Gary Gensler asserts readiness to help crypto businesses register. The industry lacks clarity on regulations and awaits effective regulatory solutions for increased adoption and innovation.

Coinbase opens a derivatives exchange in Bermuda amid stringent U.S. crypto regulations under SEC’s Gary Gensler. The SEC has blocked new services like Earn and a staking platform, prompting Coinbase’s international expansion efforts.