Stay updated with breaking news from Bus Sec. Get real-time updates on events, politics, business, and more. Visit us for reliable news and exclusive interviews.
The five-member commission, in a 3-2 vote, said it would not propose new rules because it fundamentally disagreed that current regulations are "unworkable" for the crypto sphere, as Coinbase has argued. Coinbase later said it had filed a petition for review of the SEC's decision in court.
Not long ago, AIFs were found to have helped shadow lenders evergreen their loan books. The questionable deals of global private equity firms have made stiffer rules more or less inevitable.
In a document filed in federal court in San Francisco on Thursday, the SEC defended its efforts to compel Musk's testimony, saying agency officials are acting within their authority.
Bitcoin, the world's largest cryptocurency, rose 10 percent to one-and-a-half-year highs, on the back of speculation surrounding a bitcoin exchange-traded fund (ETF)
Tesla Chief Elon Musk was reacting to new rules proposed by the US SEC in regards to tech use by fintech firms.