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SEC Warning Puts Crypto Vaults and Onchain Lending Under Legal Spotlight
SEC Commissioner Hester Peirce said crypto vaults and onchain lending strategies may fall under U.S. securities laws when their structure involves managerial control, investment activity, or investor reliance on others. Peirce said the SEC has worked over the past year and a half to clarify when crypto assets and activities fall outside federal securities laws. However, she said that does not mean every crypto product sits beyond the agency’s reach. She warned firms not to use complex legal readings to avoid rules that may apply. Peirce said, “If you do headstands, backflips, and other gymnastics” to avoid ... (full story)
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From finance.yahoo.com | 7 hr ago
Coinbase has settled a Freedom of Information Act lawsuit against the U.S. Securities and Exchange Commission over records it sought from the agency, the cryptocurrency exchange's chief legal officer, Paul Grewal, said in a Wall Street Journal op-ed on Wednesday. Grewal said the agency, which polices corporate record-keeping, had lost text messages between ...