Key Points:
Read more: Ripple SEC Lawsuit Update: Appeals Continue to Process as Normal
Despite the fact that most cryptocurrency firms are not listed with the SEC and hence do not pay their registration fees, the commission has repeatedly reiterated that it is still keen on conducting an examination into the industry. This is after cryptocurrency also became an SEC focus review in 2024.
Terrett questioned which crypto assets would be examined, pointing to Bitcoin and Ethereum ETFs in particular. She noted that those ETFs are among the few crypto assets that the commission has engaged in with any regularity as a regulatory matter rather than strictly an enforcement one. “Will the exams focus on those and the companies that work with them?” she asked.
The recent hardline stance of the SEC on the regulation of cryptocurrency has become the hot topic in the 2024 race to the White House. Vice President Kamala Harris and former President Donald Trump have already announced a more robust policy for the support of the crypto industry, thus indicating that the future of cryptocurrency regulation could take a different turn depending on who comes out of this election.
In a surprising turn in the case at the end of July, it seemed the SEC was ready to revise its complaint against Binance to remove mentions of some of the “third party crypto assets,” most notably including Solana, Cardano, and Polygon.
Meanwhile, cryptocurrency exchange Crypto.com filed a lawsuit against the SEC for overstepping its authority. It claimed the agency was wrongfully targeting it allegedly for selling unregistered tokens.
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