Securities and Exchange Commission (SEC)

The Securities and Exchange Commission (SEC) is a U.S. government agency that’s responsible for regulating the securities markets and protecting investors.

Securities include things like capital stock in a company, government and corporate bonds, certificates of deposit (CDs), and loans.

The SEC created an in-house unit that would focus on the oversight of the cryptocurrency markets.

Since being established, the SEC has already brought more than 80 enforcement actions against crypto assets.

The SEC is currently embroiled in a lawsuit with Ripple (XRP), claiming that Ripple illegally secured USD $1.3 billion through the use of an initial public offering (IPO) of XRP, which at the time was an unregistered security.

Related Terms

XRP

XRP, launched in 2012, is the native currency that runs on the XRP Ledger (XRPL), a public, open-sourced, permissionless, and decentralized blockchain that anybody can contribute to or transact on. XRP is used on the XRPL, which is a payment settlement, asset exchange, and remittance network for global payments used by private financial businesses and […]

Sam Bankman-Fried (SBF)

At one point one of the richest people in crypto, Sam Bankman-Fried and cryptocurrency exchange FTX have come crashing down to earth in a matter of days following reporting that his Alameda Research hedge fund was undercapitalized and he allegedly took customer funds out of FTX illegally and funneled them to Alameda Research.

Commodity Futures Trading Commission (CFTC)

The Commodity Futures Trading Commission (CFTC) is a U.S. government agency that regulates the U.S. derivatives markets, including futures, forex, options, and swaps. The mission of the Commodity Futures Trading Commission is to promote the integrity, resilience, and vibrancy of the U.S. derivatives markets through sound regulation.

Anti-Money Laundering (AML)

A collection of rules, regulations, financial laws, strategies, and best practices used by financial institutions and businesses (like cryptocurrency exchanges and banks) to keep criminals from laundering illegally received currencies.

Winklevoss Twins

The Winklevoss Twins, Cameron and Tyler, are American investors and entrepreneurs, that founded the Gemini cryptocurrency exchange in 2014, which now offers the Gemini dollar, a 1:1 US-backed stablecoin.