ChainCatcher news, FOX Business reporter Eleanor Terrett posted on X that during a meeting this week with staff from SEC commissioners Hester Peirce and Mark Uyeda, the Token Alliance of the Digital Chamber pointed out that addressing the 2018 Hinman speech is a priority for the Corporation Finance division on its first day, citing its lack of relevance to the Howey test, which has caused market confusion and "improperly created a winner/loser dynamic."Other items marked as "key" priorities for the first day include:Initiating a review of all existing crypto-related investigations, Wells notices, and ongoing litigation, and seeking to pause those cases that do not involve actual fraud or investor harm;Rescinding SAB 121 and publishing a rescission order in the Federal Register;Formally withdrawing and reconsidering the proposed amendment to Rule 3b-16, which proposed to expand the definition of "exchange" to include DeFi protocols;

ChainCatcher news, according to Reuters, the Manhattan U.S. Attorney's Office plans to scale back its handling of cryptocurrency cases.Scott Hartman, co-head of the Securities and Commodities Task Force for the Southern District of New York, stated that the office will not overlook cryptocurrency cases, but the number of prosecutors handling these cases is fewer than during the 2022 crash in digital asset prices (the so-called "crypto winter").

ChainCatcher news, November 7, Coinbase Chief Legal Officer Paul Grewal recently stated that significant changes are expected in the SEC's cryptocurrency-related cases under the leadership of the new Trump-nominated SEC chairman. Grewal revealed to reporters, "I believe the new administration will re-examine all cryptocurrency cases brought during Gary Gensler's tenure, distinguishing between clear fraud cases and non-fraud cases."Although Grewal did not explicitly state that the cases against Coinbase and other companies under investigation for alleged securities violations would be dismissed, he seemed optimistic that the changes in SEC leadership and the establishment of clear rules would lead to a new review.

ChainCatcher news, according to News.Bitcoin, the U.S. Commodity Futures Trading Commission (CFTC) announced on August 8 that it has paid a whistleblower a reward of $1 million for providing details of improper trading on a cryptocurrency asset platform.CFTC Enforcement Director Ian McGinley stated that as more and more Americans fall victim to cryptocurrency asset scams, the CFTC is increasingly relying on tips from whistleblowers to conduct investigations. Whistleblowers can receive 10% to 30% of the amount of the fines. These funds come entirely from the agency's customer protection fund.According to the Commodity Exchange Act (CEA), the CFTC did not disclose the identity of the whistleblower, specific enforcement actions, or the exact amount of the reward. "In the last fiscal year, cryptocurrency cases accounted for nearly 50% of the CFTC's case files, and most of the tips that year were related to cryptocurrency assets."

ChainCatcher news, according to Tree News, Gary Gensler stated that the U.S. Securities and Exchange Commission (SEC) has performed excellently in court proceedings related to cryptocurrency cases.

ChainCatcher news, according to Bloomberg, two lawyers from the U.S. Securities and Exchange Commission (SEC) have resigned after a federal judge harshly criticized the Wall Street regulator for "serious abuse" of power in a cryptocurrency case.According to sources, Michael Welsh and Joseph Watkins resigned this month after an SEC official told them they would be fired if they continued to stay. The two were the lead attorneys in a case against Digital Licensing Inc. (a cryptocurrency platform known as DEBT Box).U.S. District Court Judge Robert Shelby in Salt Lake City stated that the regulator's lawsuit against DEBT Box was harmed by false statements and misrepresentations, as well as a lack of evidence. Shelby took extreme measures in March to sanction the agency for its abuse of power, and the SEC's enforcement chief has already apologized for these mistakes.

ChainCatcher news, according to Bloomberg, Canadian provincial officials are trying to force the surviving co-founder of the collapsed cryptocurrency exchange QuadrigaCX to explain how he obtained a cash reserve, 45 gold bars, and jewelry, including a diamond-encrusted Rolex watch.On Wednesday, the civil forfeiture chief of British Columbia sought a court order to compel Michael Patryn to detail the acquisition of the seized assets, which include approximately $184,310 in cash.If Michael Patryn cannot prove the legitimate acquisition of the assets in question, the case could ultimately result in him forfeiting those assets. According to a statement from the province's Attorney General, the proceeds from the order will be used to donate to crime victims and crime prevention services.

ChainCatcher news, according to The Block, a report from investment bank TD Cowen states that after recently winning the insider trading lawsuit against Coinbase, SEC Chairman Gary Gensler is expected to continue filing cryptocurrency cases.Last week, the Washington District Court made a ruling favorable to the SEC in an insider trading case. Therefore, it is expected that Gensler will continue to file lawsuits for at least the next two years, until the end of his term (June 2026).

ChainCatcher news, according to Fortune, lawyers from the U.S. Securities and Exchange Commission (SEC) apologized to a judge on Thursday for distorting facts when issuing a restraining order and asset freeze against a cryptocurrency company.In a document submitted to the U.S. District Court for Utah, in response to a judge's order to explain the reasons for the errors, SEC lawyers wrote that the commission "deeply regrets these orders" and promised mandatory training for the staff involved in the investigation. "I fully understand the special responsibilities that the SEC bears in enforcing federal securities laws," wrote Gurbir Grewal, the SEC's enforcement director. "I know that in this case, the department did not meet those standards, and I apologize for that."ChainCatcher previously reported that in a lawsuit filed this summer, the SEC accused a company named Digital Licensing Inc. of defrauding investors of nearly $50 million by selling unregistered securities called "node licenses." As part of the initial proceedings, the SEC successfully obtained a temporary restraining order and asset seizure through a so-called unilateral application. District Judge Robert Shelby, who approved the SEC's request, stated that he agreed to grant the SEC's request because SEC lawyers indicated that the cryptocurrency company was closing bank accounts to evade U.S. regulators. However, this turned out to be untrue.

ChainCatcher news, according to Bloomberg, in a lawsuit filed this summer, the U.S. Securities and Exchange Commission (SEC) accused a company named Digital Licensing Inc. of defrauding investors of nearly $50 million by selling unregistered securities called "node licenses." As part of the initial proceedings, the SEC successfully obtained a temporary restraining order and asset seizure through a so-called unilateral application.District Judge Robert Shelby, who approved the SEC's request, stated that he agreed to the SEC's request because SEC attorney Michael Welsh indicated that the cryptocurrency company was closing bank accounts to move the company to Abu Dhabi to evade the scrutiny of U.S. regulators. This turned out to be untrue. Shelby noted in his order that some of the SEC's arguments were "completely unfounded and distorted the record." He also found that it was the banks, not the company, that closed certain accounts, and that a purported $720,000 overseas transfer used by the SEC to justify the unilateral seizure was actually a domestic transfer.Shelby believed that the SEC may have misled the court in describing the facts used to justify the previous order. To this end, Shelby requested that the SEC provide reasons why the Utah court should not penalize it for its actions, demanding a response to its apparent falsehoods, including the agency's claims about closing bank accounts and blocking social media. Shelby expressed concern that "the SEC has undermined the integrity of the litigation process."An SEC spokesperson stated, "We have received the order to show cause and will respond to the court as directed." The agency has two weeks to respond to Shelby's order.