SEC Financial News

The potential of a spot Bitcoin (BTC) exchange-traded fund (ETF) approval to drive prices up is dramatically underestimated by the crypto market, claim analysts from crypto research firm K33 — formerly Arcane Research. 

The news sent crypto prices surging on Tuesday, with Bitcoin gaining more than six per cent, pushing the $28,000 mark. Grayscale and other asset managers, including BlackRock, WisdomTree and Fidelity, have pushed for the SEC to approve spot bitcoin ETFs, which would allow people to invest in the crypto without having to own it themselves.

Brokerages are doing a better job of complying with Regulation Best Interest but they have more work to do before they get it right, state securities regulators said Tuesday.

NEW YORK (Reuters) — The U.S. Securities and Exchange Commission on Tuesday said it has charged five investment adviser firms for failing to meet requirements related to the safekeeping of client assets.

NEW YORK (Reuters) — Prime Group Holdings LLC, a private equity firm based in Saratoga Springs, New York, has agreed to pay $20.5 million to settle U.S. Securities and Exchange Commission charges related to disclosure failures, the regulator said on Tuesday.

Trade groups for the world’s biggest hedge funds and private equity firms are taking the Securities and Exchange to court over new restrictions it placed on the industry last month.    

The Short-Term Holder Spent Output Profit Ratio (STH-SOPR) for Bitcoin (BTC) has decreased from 1 to 0.9809, indicating less favorable conditions for short-term Bitcoin holders due to recent price declines.

Bitcoin's current trading value is $25,720, which decreased by nearly 1% on Tuesday. The cryptocurrency is facing an uncertain September due to regulatory delays and macroeconomic worries. In the past, Bitcoin has struggled during this month, experiencing six years of lackluster performance.

The Spot Bitcoin ETF delay leads one prominent New York corporate regulatory lawyer, and a Special Professor of Law at Hofstra Law School, to say, “Gary Gensler reminds me a little bit of Putin” in his attitude to crypto.

Since assuming the position of Chair at the Securities and Exchange Commission (SEC), Gary Gensler's stance on cryptocurrencies has undergone a notable shift.

On August 21, 2023, the Securities and Exchange Commission (SEC)  announced   that it has levied charges against «Titan Global Capital Management USA LLC», a New York-based FinTech investment adviser. The charges stem from Titan's use of «hypothetical performance metrics» in advertisements that the SEC deemed misleading.

Last week, Bitcoin's volatility increased slightly as the crypto ultimately closed the week at $25,900.

A Bitcoin (BTC) price correction down to $22,000 is becoming increasingly likely as BTC derivatives have begun to exhibit bearish tendencies.

The race to list the first spot-traded Bitcoin (BTC) exchange-traded fund (ETF) in the United States has seen the entrance of major financial institutions like BlackRock, Fidelity and VanEck. 

'The SEC has overstepped its statutory authority and core legislative mandate, leaving us no choice but to litigate,' argued MFA president and CEO Bryan Corbett.

The US Securities and Exchange Commission (SEC) will likely be forced to approve multiple spot Bitcoin (BTC) exchange-traded fund (ETF) applications following the recent Grayscale victory. 

According to the FT, Murray Roos, head of capital markets at the LSE Group, spoke to it had decided to press forward with the venture after 12-months of internal debate on the potential for a blockchain-powered trading venue.

Amidst a swirl of speculation and anticipation, Bitcoin is showing modest gains, trading at $26,028, reflecting a nearly 1% rise as of Monday. Cathie Wood, a notable figure in the investment realm, expresses her bullish stance on the impending merger of Bitcoin with Artificial Intelligence. 

According to the FT, Murray Roos, head of capital markets at the LSE Group, spoke to it had decided to press forward with the venture after 12-months of internal debate on the potential for a blockchain-powered trading venue.

WisdomTree, Inc. (NYSE: WT), a global financial innovator with a diverse range of exchange-traded products (ETPs) and a current asset management of approximately $94 billion, has officially announced the appointment of Rilla Delorier to its Board of Directors. Delorier, an accomplished leader with over 30 years of executive experience, is recognized for her leadership in digital transformation within the banking sector and her roles in various financial and tech firms. Her achievements have earned her a spot among the «25 Most Powerful Women in Banking» by American Banker.

Is leave encashment exempted under Sec 10 (10AA) of the Income Tax Act on retirement? Is the money received from an employer towards encashment of pending leaves be considered for exemption irrespective of the number of times I switch jobs? Till March, the encashment limit for an employee was ₹3 lakh. My current employer has paid me ₹1.5 lakh towards leave encashment and this is not taxable. Now that the government has increased this limit to ₹25 lakh, will the exemption limit at my future job with a prospective employer be ₹23.5 lakh? —Name withheld on request As per the tax laws, any payment received by employees from their employer towards encashment of earned leaves at their credit, at the time of retirement, whether on superannuation or otherwise, shall be exempt from tax, subject to the specified limits.