Saturday, February 27, 2021
Only Bitcoin Market News
Advertisement
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos
Only Bitcoin Market News
No Result
View All Result

Clear crypto rules urgently needed as major companies embrace asset: SEC official

2 weeks ago
in Cryptos
3 min read
Clear crypto rules urgently needed as major companies embrace asset: SEC official
Share on FacebookShare on Twitter


By Chris Prentice, Katanga Johnson

WASHINGTON (Reuters) – A clear cryptocurrency regulatory regime is urgently needed as major companies like Tesla Inc, BNY Mellon Corp and Mastercard Inc embrace the alternative asset class, a top Securities and Exchange Commission (SEC) official said.

FILE PHOTO: Commissioner Hester Peirce participates in a U.S Securities and Exchange Commission open meeting to propose changing its decades-old definition of an “accredited investor” in order to allow more Americans to buy shares in private companies, in Washington, U.S., December 18, 2019. REUTERS/Erin Scott

Hester Peirce, a Republican commissioner at the agency, also told Reuters in an interview that it was too soon to draw policy conclusions from a “Reddit Rally” in GameStop Corp and other stocks, but it was “wonderful” that a new generation of investors was able to participate in the market.

Dubbed by crypto enthusiasts as the “Crypto Mom” due to her supportive stance on the asset class, Peirce has long advocated for regulators to create clear rules that would allow crypto assets to thrive without fear of breaking the law.

“It’s not only that there have been calls for clarity for some time and that a new administration brings the chance to take a fresh look, but it also is a moment where it seems others in the marketplace are also taking a fresh look,” she said.

Bitcoin hit record highs this month after electric car-maker Tesla said it had invested $1.5 billion in the cryptocurrency and BNY Mellon said it would help clients hold, transfer, and issue digital assets. Mastercard also said it would open up its network to some cryptocurrencies.

“That adds to the urgency of us taking some sort of action in this area to provide more clarity,” said Peirce.

The market was plunged into crisis last month when Reddit users trading on low-cost retail platforms banded together to drive up the prices of GameStop and other stocks, squeezing hedge funds that had bet against those shares.

The resulting volatility triggered massive margin calls from “clearing” houses that guarantee trades, prompting several retail platforms to suspend buying in the affected securities.

The incident sparked outrage among lawmakers on both sides of the aisle. Vlad Tenev, CEO of trading app Robinhood, Ken Griffin, CEO of hedge fund Citadel LLC and others involved in the saga will testify before Congress on Thursday.

The SEC is examining the “gamut” of issues including market volatility, the role of retail brokers, and how the post-trade market functioned, said Peirce.

“To see new investors participating in the markets is a good thing and of course we want them to be educated and skeptical,” she said, adding that a wide range of market participants could actually help improve price formation.

Writing by Michelle Price; Editing by Alistair Bell



Read more:Clear crypto rules urgently needed as major companies embrace asset: SEC official

Related articles

Investment Firm Launches the First ‘Crypto Hedge Fund’ in Spain- Plans to Expand

Investment Firm Launches the First ‘Crypto Hedge Fund’ in Spain- Plans to Expand

February 27, 2021
SEC Inspectors Outline Crypto Examinations Playbook in Compliance Notice – CoinDesk

SEC Inspectors Outline Crypto Examinations Playbook in Compliance Notice – CoinDesk

February 27, 2021
Tags: AssetAuto & Truck Manufacturers (TRBC level 4)Banking & Investment Services (TRBC level 2)bitcoin news todayClearCompaniesCompany NewsConsumer Lending (TRBC level 4)Corporate / Market RegulationCryptoCryptoCurrenciesCurrencyElectrical (Alternative) Vehicles (TRBC level 5)EmbraceFinancials (Legacy)Financials (TRBC level 1)FundsInternet Security & Transactions Services (TRBC level 5)Investment Management & Fund Operators (NEC) (TRBC level 5)Investment Management & Fund Operators (TRBC level 4)MajorneededOfficialRulesSECSecurities & Commodity Exchanges (TRBC level 5)United StatesurgentlyUSUS Government NewsUSA

Related Posts

Investment Firm Launches the First ‘Crypto Hedge Fund’ in Spain- Plans to Expand

Investment Firm Launches the First ‘Crypto Hedge Fund’ in Spain- Plans to Expand

by Bitcoin Market
February 27, 2021
0

In Spain, an investment company has begun to promote what they called the “first crypto hedge fund.” The product...

SEC Inspectors Outline Crypto Examinations Playbook in Compliance Notice – CoinDesk

SEC Inspectors Outline Crypto Examinations Playbook in Compliance Notice – CoinDesk

by Bitcoin Market
February 27, 2021
0

Examiners at the U.S. government’s top securities watchdog outlined their framework for vetting digital asset investments in a compliance...

Many Indian techies get paid in crypto, say it’s faster and easier

Many Indian techies get paid in crypto, say it’s faster and easier

by Bitcoin Market
February 26, 2021
0

Mumbai -- International crypto companies are hiring engineers and back-end developers in India as contractors and paying them in...

Watch Out, Coinbase: Robinhood Just Revealed Big Crypto Growth

Watch Out, Coinbase: Robinhood Just Revealed Big Crypto Growth

by Bitcoin Market
February 26, 2021
0

Text size The Robinhood app. Bloomberg About 6 million new users bought cryptocurrencies on Robinhood in just the first...

The estimated number of global crypto users has passed 100 million – and boomers are

The estimated number of global crypto users has passed 100 million – and boomers are

by Bitcoin Market
February 25, 2021
0

Bitcoin is drawing in users from all age groups, according to one financial firm's survey of clients NurPhoto/Getty Images...

Load More

Trend Now

  • Trending
  • Comments
  • Latest
Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

Crypto-Powered Social Media Platform Voice Planning Launch for July 4 | CryptoGlobe

June 8, 2020
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

May 19, 2020
Argo Blockchain boosts mining margins in July

Argo Blockchain boosts mining margins in July

August 5, 2020
Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

Institutional investors see Bitcoin holding US$50,000 suggests ETP provider

February 18, 2021
Bitcoin boom backstopped by central banks’ easy-money policies

Bitcoin boom backstopped by central banks’ easy-money policies

February 4, 2021
5 Cryptocurrency Staking Providers – A Review | Hacker Noon

5 Cryptocurrency Staking Providers – A Review | Hacker Noon

January 30, 2021
ETC Group’s bitcoin ETP reaches $1bn AUM in just eight months, which is ‘just the

ETC Group’s bitcoin ETP reaches $1bn AUM in just eight months, which is ‘just the

0
Bitcoin daily chart alert – Bullish chart pattern develops – May 19

Bitcoin daily chart alert – Bullish chart pattern develops – May 19

0
Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

Calvin Ayre Invests in True Reviews: A New Take on Consumer Review Sites Built on the

0
J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

J.K. Rowling Twitter Storm shows the Crypto Ecosystem Needs to Mature – CityAM

0
Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

Crypto.com’s MCO Visa Cards Are Now Shipping In Europe – Fintech Singapore

0
Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

Elon Musk tried to explain Bitcoin to JK Rowling on Twitter and this happened

0
ETC Group’s bitcoin ETP reaches $1bn AUM in just eight months, which is ‘just the

ETC Group’s bitcoin ETP reaches $1bn AUM in just eight months, which is ‘just the

February 27, 2021
Bitcoin Group SE with strong start into 2021- Integration of Bitcoin Deutschland AG

Mexico’s Vitro says will use $75 million loan in U.S. to pay off debt

February 27, 2021
Top Crypto News: 02/27 – Cryptocurrency News – Altcoin Buzz

Top Crypto News: 02/27 – Cryptocurrency News – Altcoin Buzz

February 27, 2021
Cardano’s ADA Is Now the Third-Largest Cryptocurrency by Market Cap

Cardano’s ADA Is Now the Third-Largest Cryptocurrency by Market Cap

February 27, 2021
Bitcoin Price Forecast: Buyers make sure that price stays above $9,000 following

Bitcoin Price Analysis: BTC could try to reclaim $50K as selloff loses momentum at

February 27, 2021
Investment Firm Launches the First ‘Crypto Hedge Fund’ in Spain- Plans to Expand

Investment Firm Launches the First ‘Crypto Hedge Fund’ in Spain- Plans to Expand

February 27, 2021
  • Contact Us
  • Terms of Use
  • Cookie Privacy Policy
  • Privacy Policy
  • DMCA

© 2020 MarketForBitcoin.com

No Result
View All Result
  • Home
  • Bitcoin
  • Market
  • Cash
  • Price
  • Beginners
  • Gold
  • Private
  • Cryptos
  • investors
  • Technical
  • Crash
  • spam
  • stock
  • Blockchain
  • Videos

© 2020 MarketForBitcoin.com

  • bitcoinBitcoin(BTC)$46,673.002.11%
  • bitcoin-cashBitcoin Cash(BCH)$491.682.15%
  • binance-coinBinance Coin(BNB)$228.985.55%
  • bitcoin-goldBitcoin Gold(BTG)$26.511.42%
  • bitcoin-privateBitcoin Private(BTCP)$0.4090.853%
  • blocktixBlocktix(TIX)$0.0200.00%