• NYAG released documents detailing Tether’s exposure to Chinese securities in 2021.
• Mark Cuban and former SEC official John Reed Stark had a discussion about crypto regulations.
• BlackRock filed for spot Bitcoin ETF, Coinbase will serve as custodian for BTC holdings.
NYAG Releases Documents on Tether’s Exposure to Chinese Securities
The New York Attorney General (NYAG) has released documents that detail the cryptocurrency stablecoin operator Tether’s exposure to Chinese securities in 2021. The documents show that the company has nearly $1 billion in investments, which is more than ten times its reported reserves of USDT tokens. This has raised concerns over the company’s solvency and level of risk associated with its operations.
Mark Cuban Debates Crypto Regulations with Former SEC Official
Billionaire entrepreneur Mark Cuban recently engaged in a debate with former SEC enforcement official John Reed Stark over crypto regulations. The two discussed the intricacies of securities law as it pertains to cryptocurrencies, offering their respective perspectives on the issue. Despite voicing passionate opinions, both parties maintained a respectful tone throughout their dialogue.
SEC Under Congressional Scrutiny as BlackRock Files for Spot Bitcoin ETF
The U.S Securities and Exchange Commission (SEC) is currently under congressional scrutiny over its decision-making process around approving or denying applications for spot Bitcoin exchange-traded funds (ETFs). This comes as BlackRock has submitted an application for such an ETF and Coinbase has announced that it will serve as custodian for BTC holdings associated with the fund if approved by regulators.
Binance US Reportedly Cuts Staff Following SEC Charges
Binance US, a major American cryptocurrency exchange owned by Binance Global, is reportedly cutting 50 staff members following charges from the U.S Securities and Exchange Commission (SEC). The company allegedly failed to register itself as a broker-dealer before allowing customers to trade digital assets on its platform, leading regulators to pursue legal action against them last year.
The recent news regarding Tether’s exposure to Chinese securities, Mark Cuban’s debate with former SEC official John Reed Stark over crypto regulations, Blackrock filing for spot Bitcoin ETFs and Coinbase serving as custodian for BTC holdings, and Binance US‘ staff cuts due to SEC charges all demonstrate how rapidly crypto regulation is changing within the United States – making it an increasingly important topic among investors and entrepreneurs alike.