● The SEC has sued HEX founder Richard Heart for alleged fraud and unregistered securities sales.
● A suite of crypto legislation passed the House Financial Services Committee this week.
● Coinbase CEO Brian Armstrong claims that the SEC said ‘every asset other than Bitcoin is a security’.
SEC Sues HEX Founder Richard Heart
The US Securities and Exchange Commission (SEC) has filed a lawsuit against HEX founder Richard Heart for alleged fraud and unregistered securities sales. According to the suit, Heart was offering investors an opportunity to buy digital assets without complying with federal securities laws.
Crypto Legislation Passed House Financial Services Committee
This week, a suite of crypto legislation passed the House Financial Services Committee in a move that could bring much needed clarity to the US crypto industry. The new bill seeks to provide guidance on how digital assets can be regulated, while also providing protections for investors in digital assets.
Sam Bankman-Fried Surrenders Caroline Ellison’s Writings
In related news, Sam Bankman-Fried, CEO of FTX cryptocurrency exchange, recently surrendered Caroline Ellison’s personal writings to court as part of an ongoing legal dispute between them over Ellison’s allegations that Bankman-Fried had breached confidentiality agreements by using her work without permission or compensation.
Ritchie Torres Calls Gensler’s SEC ‚Arbitrary and Capricious‘
Democratic congressman Ritchie Torres recently called out Gary Gensler’s Securities and Exchange Commission (SEC) for its “arbitrary and capricious” behavior in its enforcement actions against cryptocurrency companies such as Coinbase. He argued that such enforcement actions create uncertainty in the market which can ultimately hinder innovation and growth in the space.
Jason Lowrey’s Book Removed from Circulation
Finally, Jason Lowrey’s book on the strategic significance of Bitcoin was removed from circulation and MIT library for unknown reasons. This comes amidst heightened scrutiny of cryptocurrencies by regulators who are increasingly concerned about illicit activities conducted through cryptocurrencies like Bitcoin.