Latest news with #U.S.SecuritiesandExchangeCommission
Yahoo
a day ago
- Business
- Yahoo
Fastex Expands U.S. Presence With Los Angeles Office
Fastex, a Dubai-based crypto exchange, is expanding its presence in the U.S., building out an office in Los Angeles, California. According to a Thursday announcement, Fastex will offer spot crypto trading services of tokens including bitcoin BTC, ether ETH, Cardano ADA, Solana SOL and its native utility token, Fasttoken FTN, to both retail and institutional investors in the U.S. Fastex's American expansion comes as the U.S. continues to overhaul its approach to crypto regulation under President Donald Trump's administration. Since Trump took office in January, the U.S. Securities and Exchange Commission (SEC) has retreated from the so-called regulation-by-enforcement approach to crypto it took under former Chair Gary Gensler, dropping a host of open investigations and closing ongoing litigation against crypto exchanges. In an interview with CoinDesk at Bitcoin 2025 in Las Vegas, Fastex's Chief Legal Officer and board member Vardan Khachatryan said that the SEC's softened stance toward crypto regulation played a major role in the exchange's decision to expand in the U.S., though he acknowledged that there is still no concrete legal framework for crypto in the country. 'There has been enough of a policy change, at least in terms of [how the U.S. government is] viewing things, that allowed us to go for this,' Khachatryan said. 'It's still kind of a risk, but it's a lower risk.' With a host of crypto companies returning to the U.S. due to the Trump Administration's crypto-friendly policies, cities like New York are hoping to attract companies expanding to the U.S. to set up shop in their jurisdictions. But, while Khachatryan said New York would be 'the right place to be in terms of headquarters,' he said that, for now, the prospect of obtaining a BitLicense — the notoriously difficult-to-obtain crypto license issued by the New York Department of Financial Services (NYDFS) — is prohibitive. 'I hope that things will change a bit,' Khachatryan said. New York City Mayor Eric Adams, who has branded himself the 'Bitcoin Mayor' in an attempt to lure crypto companies to New York, called for the end to the BitLicense regime during a speech at Bitcoin 2025 in Las Vegas on is currently headquartered in Dubai, in the Dubai International Financial Centre (DIFC). Khachatryan said the exchange is currently working on obtaining a license from Dubai's Virtual Assets Regulatory Authority (VARA). After expanding in the U.S., Khachatryan said the exchange also has its eyes on a Latin American expansion, starting with Brazil, followed by Argentina and Mexico. Inicia sesión para acceder a tu cartera de valores
Yahoo
a day ago
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- Yahoo
Crypto Staking Doesn't Violate U.S. Securities Law, SEC Says
Crypto staking, under certain circumstances, does not appear to implicate U.S. securities law, a branch of the U.S. Securities and Exchange Commission said late Thursday. The SEC's Division of Corporation Finance published a staff statement — the latest in a series from the regulator — spelling out how the regulator may evaluate proof-of-stake networks, mainly noting that covered activities do not "involve the offer and sale of securities" — meaning the SEC won't sue any person or company participating in those activities. Node operators and validators, custodians, delegates, nominators and entities staking assets either on their own, staking directly with a third party or staking on behalf of an asset's owners fall into this bucket, the staff statement said. In this, the SEC seems to suggest that staking will be treated identically to mining, the consensus mechanism securing networks like Bitcoin BTC, which the SEC clarified also did not implicate securities laws in a similar staff statement last month. The SEC's staff statement was "very clear for a subject that can be a little bit complicated," said Lorien Gabel, the CEO of staking-focused crypto firm Figment. And its main upside appears to be saying that various activities U.S. companies might have shied away from in the past are okay now. "They included some ancillary staking activities. For example, we provide insurance around slashing [and we also provide] modified unbonding periods," he said. "And they said that actually doesn't mean that you're a manager of assets as a staking provider." The SEC statement said companies that want to provide those types of services, or even pooled staking, can do so, he said. Thursday's statement is an incremental but important update from the regulator, said Alison Mangiero, the head of staking policy at the Crypto Council for Innovation. "This reaffirms that there's going to be similar treatment for stakers that there is for miners. And I think it's especially important because, given under [former SEC Chair Gary] Gensler, there were so many enforcement actions that were focused on staking as a service … we saw a lot of those cases dismissed, and the Coinbase case dismissed with prejudice," she said. "We assumed that this would be the stance, but actually having a staff statement that asserts it, I think is crucially important." The fact it came just days before the SEC faces a deadline on a number of applications to bring staking into spot ether ETH exchange-traded funds (ETFs) is telling, she said. It's likely that the ETF providers would have received staking approvals regardless, but the SEC statement will likely start speeding up the process for securing those approvals, Gabel said. As with the SEC's previous staff statements, Thursday's included a footnote clarifying that it is very narrowly tailored and certain restrictions would apply. It is not a replacement for rulemaking done through the actual commissioners and "has no legal force or effect," the footnote said. "This statement only addresses certain activities involving Covered Crypto Assets that do not have intrinsic economic properties or rights, such as generating a passive yield or conveying rights to future income, profits, or assets of a business enterprise," another footnote said. Sign in to access your portfolio
Yahoo
a day ago
- Business
- Yahoo
Here is Why New Fortress Energy (NFE) Fell This Week
The share price of New Fortress Energy Inc. (NASDAQ:NFE) fell by 8.82% between May 20 and May 27, 2025, putting it among the Energy Stocks that Lost the Most This Week. Let's shed some light on the development. A cutaway view of a modern energy infrastructure and its power generation facilities. New Fortress Energy Inc. (NASDAQ:NFE) owns and operates natural gas and LNG infrastructure and an integrated fleet of ships and logistics assets to rapidly deliver turnkey energy solutions to global markets. New Fortress Energy Inc. (NASDAQ:NFE) continues to plunge after posting a wide earnings miss in its Q1 2025 earlier this month, struggling with weak performance across all its segments. The company's loss of $0.73 per share was significantly worse than market expectations, while its revenue also declined by over 31% YoY and fell below estimates. Investors also reacted negatively when it was revealed this week that the company has been disqualified from an auction held by the Puerto Rican government to secure temporary power generation. However, the latest blow for New Fortress Energy Inc. (NASDAQ:NFE) has come in the form of a notice it received from NASDAQ on non-compliance with the stock market's listing rule for not submitting its quarterly reports with the U.S. Securities and Exchange Commission. While we acknowledge the potential of NFE to grow, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than NFE and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 10 Cheap Energy Stocks to Buy Now and 10 Most Undervalued Energy Stocks to Buy According to Hedge Funds Disclosure: None. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Arabian Post
a day ago
- Business
- Arabian Post
SEC's Stance on Staking Signals Regulatory Shift
The U.S. Securities and Exchange Commission has clarified that certain staking activities on proof-of-stake blockchains do not constitute securities transactions under federal law. This development marks a significant shift in the regulatory landscape for the cryptocurrency industry. The SEC's Division of Corporation Finance issued a statement indicating that self-staking, self-custodial staking with third parties, and custodial staking services are not subject to securities regulations, provided that the staking activities are conducted in accordance with the underlying blockchain protocols. The guidance emphasizes that staking rewards are considered compensation for services rendered in maintaining the network, rather than profits derived from the efforts of others. This clarification comes after the SEC's previous enforcement actions against staking-as-a-service providers, which had created uncertainty within the industry. The new guidance provides a clearer framework for participants engaging in staking activities, potentially encouraging broader adoption and innovation in the sector. ADVERTISEMENT However, the SEC's statement does not extend to all forms of staking. Activities such as liquid staking and restaking, where providers have control over staking decisions, may still fall under securities laws. The Commission advises that each staking program should be evaluated on a case-by-case basis to determine its regulatory status. The SEC's updated position has been met with mixed reactions. While many in the crypto industry view it as a positive step towards regulatory clarity, some SEC commissioners have expressed concerns. Commissioner Caroline Crenshaw criticized the guidance, arguing that it conflicts with existing legal precedents and may undermine investor protections. The clarification also has implications for the development of cryptocurrency exchange-traded funds . Asset managers seeking to include staking rewards in Ethereum-based ETFs may find the path forward less obstructed, potentially leading to new investment products that offer staking benefits to investors. Despite the regulatory clarity, market reactions have been subdued. Ethereum's price experienced a slight decline, reflecting cautious investor sentiment. Nonetheless, the SEC's stance is expected to have long-term positive effects on the growth and maturation of the cryptocurrency industry. Stock market information for Ethereum * Ethereum is a crypto in the CRYPTO market. * The price is 2611.78 USD currently with a change of -118.73 USD from the previous close. * The intraday high is 2730.79 USD and the intraday low is 2591.12 USD.
Yahoo
2 days ago
- Business
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SEC Task Force Chief Says Crypto Traders Need to be Growups, Not Cry to Government
LAS VEGAS, Nevada — You shouldn't be a crypto libertarian that comes crying for government help when things go badly, according to Hester Peirce, the chief of the crypto task force at the U.S. Securities and Exchange Commission. "I do think that sometimes, when something bad happens in this space, people who are remarkably free thinkers, libertarian-minded people, come in and say, 'Where was the government? Why weren't you protecting me? Hey, Crypto Mom, where's my bailout?'" she told a crowd at Bitcoin 2025 in Las Vegas, referring to her industry nickname. "C'mon, let's have some consistency,' Peirce continued. 'Yes, you should have freedom to make your own choices, and when it goes wrong, pick yourself up, dust yourself off, learn from it and do better next time. And that is the best way to move forward." Since Republicans took control of the SEC, including Commissioner Peirce and newly arrived Chairman Paul Atkins, they've worked to issue statements and directives to carve out corners of the crypto sector from the agency's jurisdiction, including memecoins, some crypto mining and certain stablecoins. But there remains a pathway of policymaking the agency has started down while lawmakers in Congress are also working on sweeping new laws that could further set its agenda. The SEC has a lot of current authority to clarify the nature of crypto securities, Peirce said, but if people want a U.S. federal regulator for retail trading, they'll need Congress to produce legislation to make that happen. She put the question to her audience on Thursday, whether they wanted a federal crypto regulator. "NO!" somebody shouted. 'There you go, you have one answer,' she quipped. Peirce said that most crypto tokens aren't themselves securities, and as a result, trading platforms handling them shouldn't need to register with the SEC unless they're also touching the securities world. Asked about memecoins, which an agency statement said are outside its enforcement interests, Peirce offered it as an example of where investors need to look out for themselves. 'Be an adult," she said. "If you want to engage in speculation, go for it. But if something goes wrong, don't come complaining to the government about it.' And as for the trend of companies putting digital assets into their own treasuries, she said public companies are entitled to do what they like — as long as they're properly disclosing it. "They can make their own decisions," she said. "I'm agnostic." Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
