US tightened reporting rules for crypto exchanges
On March 31, the Securities and Exchange Commission (SEC) released new guidelines for cryptocurrency exchanges
01.04.2022 - 13:30
266
1 min
0
What’s new? The new rules of the US Securities and Exchange Commission (SEC) require cryptocurrency exchanges to register the cryptocurrencies they hold for customers as assets and their obligations to customers as liabilities. The SEC officials stated that the new set of rules will ensure consistency in the accounting practices used by crypto exchanges.
Material of The Wall Street Journal
What will the new rules lead to? The regulator’s officials believe that the new guidelines may lead to an increase in the balance sheets of publicly traded crypto exchanges registered with the SEC. In particular, SEC chief Gary Gensler warned that investors with digital assets on platforms such as Coinbase are effectively providing unsecured loans.
Earlier, US congressmen called on the SEC to stop pressure on crypto companies. The officials expressed concern over the regulator’s unfounded investigations into cryptocurrency companies.
Useful material?
Market
Tether Finance division will be responsible for the issuance and redemption of USDT stablecoins
Apr 18, 2024
Trends
The first project introduced on the platform will be BounceBit (BB)
Apr 18, 2024
Business
The rate exchange of the native ACH token reacted with a 10% increase
Apr 18, 2024
Market
Miners are hunting for the first block after halving as the value of the first satoshi could exceed $1 million
Apr 18, 2024
Market
The platform will be non-custodial and accessible to everyone
Apr 15, 2024
Market
China Asset Management, Harvest Global Investments, and Bosera Asset Management have received permits
Apr 15, 2024