https://www.coindesk.com/policy/2023/02/14/sec-to-make-it-harder-for-hedge-funds-to-work-with-crypto-firms-bloomberg/
The U.S. Securities and Exchange Commission (SEC) is planning to propose rule changes that would make it harder for hedge funds, private equity firms and pension funds to work with crypto firms, Bloomberg reported on Tuesday.
The SEC would make it harder for crypto firms to be “qualified custodians" or companies that hold client assets for money managers, Bloomberg reported, citing people familiar with the matter.
The U.S. regulator has been increasing its scrutiny of crypto and recently went after stablecoin issuer Paxos and its BUSD stablecoin. The crypto industry has been reeling from the collapse of crypto exchange FTX, which has drawn the ire of global regulators.
The SEC was not immediately available for comment when contacted by CoinDesk.
The $21 million Genesis-SEC settlement signifies a pivotal shift in crypto regulation, impacting Genesis, its affiliates, and setting a precedent for industry-wide regulatory compliance.
AlexBybit applies for a Hong Kong license, signaling strategic expansion and intensifying competition in the burgeoning Asian cryptocurrency market.
BrianThe Ethereum Dencun upgrade, featuring proto-dank sharding, promises lower costs and improved efficiency, marking a major leap in Ethereum's scalability and blockchain innovation.
WeiliangDespite China's crypto crackdown, a 2023 Kyros Ventures report shows 33.3% of Chinese investors favor stablecoins, ranking second after Vietnam at 58.6%, indicating a high risk appetite. 70% state cryptocurrencies make up over half of their portfolios.
JoyCybertrace warns of a deep fake video featuring Andrew Forrest promoting a fake crypto platform, highlighting the rising threat of sophisticated digital scams.
MiyukiAvalanche's Durango upgrade, featuring the innovative Avalanche Warp Messaging (AWM), redefines blockchain interoperability, marking a significant leap in seamless, secure cross-chain communication and technological advancement.
AlexOPNX shuts down, citing regulatory hurdles and financial penalties. Users urged to settle positions and secure assets before the February 14 deadline.
BrianBinance faces a lawsuit from a former Gaza hostage and families affected by a Hamas attack, accusing the exchange of financing terrorism. The legal battle sheds light on alleged links between Binance and illicit transactions, prompting a call for accountability in the cryptocurrency industry.
JoyBinance strategically froze $4.2 million of stolen XRP, bolstering Ripple's recovery efforts and showcasing its commitment to security and collective resilience in the crypto community.
AlexStarbucks Korea's game-changing NFT strategy, unveiled on Jan. 16, is not just reducing single-use cups by 600,000 but also rewarding eco-friendly sippers with exclusive digital artwork, setting a new standard in sustainable coffee experiences.
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