Hodl Ninjas
  • News
  • Markets
  • Guides
  • NFTs
  • Defi
  • Exchanges
  • Subscribe
Search
bitcoin
Bitcoin (BTC) $ 27,243.30
ethereum
Ethereum (ETH) $ 1,907.12
tether
Tether (USDT) $ 1.00
bnb
BNB (BNB) $ 307.36
usd-coin
USD Coin (USDC) $ 1.00
xrp
XRP (XRP) $ 0.526787
staked-ether
Lido Staked Ether (STETH) $ 1,905.85
cardano
Cardano (ADA) $ 0.381115
dogecoin
Dogecoin (DOGE) $ 0.072867
solana
Solana (SOL) $ 21.95
matic-network
Polygon (MATIC) $ 0.902253
tron
TRON (TRX) $ 0.081625
litecoin
Litecoin (LTC) $ 96.11
polkadot
Polkadot (DOT) $ 5.36
binance-usd
Binance USD (BUSD) $ 1.00
shiba-inu
Shiba Inu (SHIB) $ 0.000009
avalanche-2
Avalanche (AVAX) $ 14.75
dai
Dai (DAI) $ 0.99996
wrapped-bitcoin
Wrapped Bitcoin (WBTC) $ 27,263.30
uniswap
Uniswap (UNI) $ 5.11
chainlink
Chainlink (LINK) $ 6.51
leo-token
LEO Token (LEO) $ 3.60
cosmos
Cosmos Hub (ATOM) $ 10.82
okb
OKB (OKB) $ 46.00
monero
Monero (XMR) $ 149.75
ethereum-classic
Ethereum Classic (ETC) $ 18.22
the-open-network
Toncoin (TON) $ 1.74
stellar
Stellar (XLM) $ 0.092486
bitcoin-cash
Bitcoin Cash (BCH) $ 116.72
internet-computer
Internet Computer (ICP) $ 4.85
filecoin
Filecoin (FIL) $ 4.85
true-usd
TrueUSD (TUSD) $ 1.00
lido-dao
Lido DAO (LDO) $ 2.30
aptos
Aptos (APT) $ 9.22
quant-network
Quant (QNT) $ 116.80
hedera-hashgraph
Hedera (HBAR) $ 0.0509
crypto-com-chain
Cronos (CRO) $ 0.061945
arbitrum
Arbitrum (ARB) $ 1.23
near
NEAR Protocol (NEAR) $ 1.65
vechain
VeChain (VET) $ 0.020032
apecoin
ApeCoin (APE) $ 3.16
the-graph
The Graph (GRT) $ 0.128718
algorand
Algorand (ALGO) $ 0.153097
the-sandbox
The Sandbox (SAND) $ 0.580988
eos
EOS (EOS) $ 0.918614
paxos-standard
Pax Dollar (USDP) $ 1.00
frax
Frax (FRAX) $ 0.999874
render-token
Render (RNDR) $ 2.72
elrond-erd-2
MultiversX (EGLD) $ 39.00
optimism
Optimism (OP) $ 1.50
Hodl Ninjas
  • News
  • Markets
  • Guides
  • NFTs
  • Defi
  • Exchanges
  • Subscribe
Search
Hodl Ninjas
Home News

SEC Issues Public Warning: Report Crypto Exposure Or Else

New Guidelines Released for Publicly Traded Companies

Dennis Chen by Dennis Chen
December 20, 2022
in News, Trading
0
SEC Issues Public Warning Report Crypto Exposure Or Else

Gary Gensler, Chair of the SEC, has been outspoken about increasing regulations on crypto.

Share on FacebookShare on Twitter

Since the fateful collapse of FTX earlier this winter season, the United States government has been coming down on crypto companies and participants in the most robust of manners. In the wake of the FTX implosion, the SEC, or the Securities Exchange Commission, has released a set of new guidelines for publicly traded companies. 

In particular, they outline how publicly traded companies will be required to disclose any and all exposure to either crypto coins, tokens, or equity investments. 

“We have a robust enforcement history in the crypto space—I think over 100 actions—a couple of dozen while I’ve been here as chair against crypto exchanges, against crypto lending platforms, against, of course, tokens,” Gensler said, citing moves against BlockFi, Poloniex, and Coinbase, the largest U.S. crypto exchange.

The Consequences of the FTX Disaster

The FTX implosion sent a shockwave through the crypto industry, with many crypto companies forced to file for bankruptcy. The SEC has now sent a letter to public companies asking them to evaluate their crypto exposure. 

The regulator said under federal security laws, companies have obligations to report direct and indirect exposure to bankrupt crypto firms and the broader financial distress across the digital asset market. 

Public companies are also to report their relationships with crypto companies deemed insolvent, suffered excessive redemptions, or failed to account for their customers’ crypto assets. They will also report ways of safeguarding their customers’ crypto assets. 

The FTX collapse, which has left millions of investors disgruntled, has renewed the push for crypto regulation. The SEC has increased its push for stricter crypto market regulation because of the FTX incident.

SEC Responds By Opening 2 New Offices

In the last couple of months, the SEC has opened two new offices – an Office of Crypto Assets and an Office of Industrial Applications and Services – specifically for the regulation of the crypto sector. 

And from the looks of it, the SEC isn’t slowing down any time soon. Hopefully, there is still a Wild West, even if there is less of an emphasis on the “wild” aspect of the crypto markets.

Advocates of crypto say that CFOs can use blockchain technology to gain access to fresh pools of capital, serve new groups of customers who transact in cryptocurrencies, and streamline Treasury functions such as money transfers. Some CFOs have adopted crypto-enabled payments or, in the high-profile examples of Tesla and MicroStrategy, brought cryptocurrencies onto their balance sheets.

The Crypto Market Remains a Roller Coaster

Yet cryptocurrencies and related markets have proven extremely volatile this year. Shares in Coinbase, the biggest U.S. cryptocurrency exchange, have plunged more than 82%, while Bitcoin and Ethereum have plummeted more than 63% and 65%, respectively. 

Does this indicate it’s time to throw in the towel on crypto? Absolutely not, because these figures are akin to the early days of Microsoft or Amazon. Early volatility is typically a predictor of new technology and innovation rather than a lack of interest or ability to produce real-world utility. If there is anything to be learned from the SEC’s new guidelines is this: learn, approach carefully, and don’t stop believing.

ShareTweetPin
Previous Post

Another Crypto Titan Bites the Dust

Next Post

Secretly Funded By SBF: A Media Scandal

Dennis Chen

Dennis Chen

Dennis Chen has spent over a decade working in corporate finance and an MBA from USC. His research focuses on how defi is disrupting traditional finance spaces. He joined the Hodl Ninjas team to help amplify awareness of great crypto projects.

Related Articles

Bittrex Officially Files for Bankruptcy
Exchanges

Bittrex Officially Files for Bankruptcy

May 18, 2023
ChatGPT Founder's WorldCoin Becomes Fastest Growing Wallet
Blockchain

ChatGPT Founder’s WorldCoin Becomes Fastest Growing Wallet

May 17, 2023
Binance Suspends Withdrawals
Exchanges

Binance Suspends Withdrawals

May 15, 2023
Founder of Twitter Jack Dorsey Donates $10 Million
Markets

Founder of Twitter Jack Dorsey Donates $10 Million

May 12, 2023
Next Post
Secretly Funded By SBF: A Media Scandal

Secretly Funded By SBF: A Media Scandal

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Trending Articles

  • High Growth NFT Categories for 2022

    What NFT Categories are Set to Go Ape in 2022?

    0 shares
    Share 0 Tweet 0
bitcoinBitcoin
$ 27,243.30
$ 27,243.30
0.24%
ethereumEthereum
$ 1,907.12
$ 1,907.12
0.18%
tetherTether
$ 1.00
$ 1.00
0.02%
solanaSolana
$ 21.95
$ 21.95
3.73%
cardanoCardano
$ 0.381115
$ 0.381115
1.16%
polkadotPolkadot
$ 5.36
$ 5.36
1.23%

Become a Hodl Ninja.

Stay on top of market trends, find exciting new projects, hold on for dear life.

johnsmith@example.com
© 2021 Hodl Ninjas – A BettorView Brand.
No Result
View All Result
  • News
  • Markets
  • Guides
  • NFTs
  • Defi
  • Exchanges
  • Subscribe

© 2021 Hodl Ninjas - A BettorView Brand.

Search
$ USD
  • $ USD
  • € EUR
  • ₹ INR
0
Previous 25
Next 25
#CoinPriceMarketcapVolume (24h)SupplyChange (24H)Price Graph (7D)
Previous 25
Next 25
Subscribe to Hodl Ninjas

Get the latest news in crypto and be the first to hear about exciting new projects.

Enter your email address

No thanks, I’m not interested.