Criticism Against SEC Chair Gensler for Silence on Crypto Regulation Post Treasury Meeting
Representative Bryan Steil criticizes SEC Chair Gary Gensler for evading questions and neglecting accountability regarding the SEC's assertive regulatory stance on cryptocurrency. Concurrently, the CFTC grants approval for a crypto clearinghouse to Bitnomial, and Commissioner Christy Goldsmith Romero stands out as the sole dissenter in this decision.
The BSV Blockchain Gazette is presented by Bryan Daugherty, Public Affairs Director of Americas for BSV Blockchain, featuring:
Rep. Bryan Steil Criticizes SEC Chair Gensler for Dodging Crypto Questions After Treasury Meeting
Rep. Bryan Steil (R-WI) criticized SEC Chair Gary Gensler for avoiding questions on crypto after a Treasury market meeting, stating that Gensler “does not want to explain his agency’s aggressive regulatory approach which is pushing crypto offshore.”
CFTC Grants Approval to Bitnomial for Crypto Clearinghouse Despite Commissioner's Opposition
The CFTC granted approval to crypto firm Bitnomial to operate a clearinghouse, on top of its existing exchange and brokerage. CFTC Commissioner Christy Goldsmith Romero was the only official to oppose the move.
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OFAC Announces $1.2 Million Settlement with CoinList Over Alleged Sanctions Violations in Crimea
The Office of Foreign Assets Control (OFAC) announced a $1.2 million settlement with crypto exchange CoinList over allegations that the company violated sanctions regulations by allowing users in Crimea to use the platform.
IRS Highlights Top 10 Tax Fraud Cases for 2023, Four Involving Cryptocurrency
The IRS issued a press release on its top 10 tax fraud cases for 2023, with four involving crypto.
FASB Introduces First Rules for Improved Accounting of Crypto Assets, Mandating Fair Value Recording for BTC and ETH
The Financial Accounting Standards Board (FASB) published its first rules to improve the accounting for and disclosure of certain crypto assets, requiring crypto companies and any other companies that hold BTC or ETH to record their coins at fair value.