The SEC is once again setting its sights on the cryptocurrency market.
Crypto.com received a Wells Notice from U.S. regulators and subsequently fought back with a lawsuit to protect itself. The SEC plans to charge digital asset exchanges with operating as unregistered broker-dealers and securities clearinghouses.
“The SEC’s unauthorized overreach and illegal rulemaking regarding cryptocurrencies must end,” Crypto.com CEO Chris Marszalek said on Twitter.
The SEC also charged Cumberland DRW with operating as an unregistered dealer in more than $2 billion in crypto assets.
Bitcoin today topped $60,000 for the first time since September 18, when it rose along with other assets in response to the Federal Reserve's 50 basis point interest rate cut. However, it was unable to push that rally and slumped into the month, before falling further this week.
daily bitcoin
If you zoom out on the monthly chart, you can see how stable Bitcoin is. This relative calm will not last long, and an eventual breakout of the $50,000 to $72,000 range will be a strong move.
monthly bitcoin
Another interesting development today is that a Japanese court has extended the repayment deadline in the Mt.Gox liquidation. Although most of the funds have already been disbursed, “many rehabilitation creditors have not yet received their repayments because they have not completed the necessary procedures to receive repayments,” the filing states.
The deadline has been extended to October 31, 2025.
