sec

Wall Street just got a powerful new on-ramp to crypto as the SEC greenlit a multi-asset fund holding bitcoin, ethereum, XRP, solana and cardano for trading.

SEC Approves Grayscale Multi-Crypto Fund, Paving Way for Broader Digital Asset Access
The U.S. Securities and Exchange Commission (SEC) announced on Sept. 17 a package of approvals expanding access to digital asset investment vehicles. The decisions included authorization of generic listing standards for commodity-based trust shares and new options tied to bitcoin ETF indexes. Alongside these moves, the SEC cleared the listing and trading of the Grayscale Digital Large Cap Fund, which tracks the Coindesk 5 Index and holds bitcoin, ethereum, XRP, solana, and cardano.
As the Commission stated:
The Commission approved the listing and trading of the Grayscale Digital Large Cap Fund, which holds spot digital assets based on the Coindesk 5 Index.
Grayscale Investments CEO Peter Mintzberg described the development as a milestone for the firm and the broader crypto sector. On social media platform X, he wrote: “Grayscale Digital Large Cap Fund $GDLC was just approved for trading along with the Generic Listing Standards. The Grayscale team is working expeditiously to bring the first multi crypto asset ETP to market with bitcoin, ethereum, XRP, Solana, and Cardano.”
In a separate post, the executive added:
Thank you to the SEC Crypto Task Force for their continued, unmatched efforts in bringing the regulatory clarity our industry deserves.
Market analysts viewed the SEC’s decision as a significant step in expanding regulated digital asset exposure and a signal of its readiness to approve more diversified crypto products.
Grayscale confirmed that the Digital Large Cap Fund has filed a registration statement and prospectus with the SEC. These documents are available through the SEC’s EDGAR system or directly from the company. While skeptics warned that multi-asset funds may compound volatility risks, supporters argued that diversification helps reduce concentration in any one digital currency and provides a structured entry point for investors. With this approval, Grayscale has secured a leading position in developing regulated, diversified crypto products for the U.S. market.
#Binance #wendy #sec $BTC $ETH $BNB

The U.S. Securities and Exchange Commission (SEC), under the leadership of Chairman Paul Atkins, is set to overhaul investor disclosure rules for publicly traded companies, signaling a transformative shift in corporate reporting. Announced on September 19, 2025, this initiative responds to calls for modernizing financial disclosures, aligning with President Donald Trump’s advocacy for moving from quarterly to semi-annual reporting. The reform aims to enhance transparency, reduce regulatory burdens, and allow companies to prioritize long-term growth over short-term gains.
A New Approach to Corporate Transparency
Chairman Atkins emphasized that the time is ripe to reassess how investors access and engage with financial information. Speaking at a recent industry event, he highlighted the need to evaluate the channels, methods, and formats of corporate disclosures to better meet investor needs. Atkins noted that many investors derive greater insights from earnings conference calls than from dense, mandatory quarterly reports, suggesting a shift toward more dynamic and relevant disclosure practices.
The proposed reform aligns with President Trump’s critique of the current quarterly reporting system, which he argues drives corporate executives to focus excessively on short-term profits at the expense of strategic planning. By transitioning to semi-annual reporting, the SEC aims to free up resources, allowing companies to invest in long-term innovation while maintaining transparency for shareholders.
Addressing Short-Termism in Corporate Governance
The push for semi-annual reporting reflects a broader effort to combat “short-termism” in corporate governance. Atkins echoed Trump’s sentiment that the pressure to deliver quarterly results often distracts management from pursuing sustainable growth strategies. “For the sake of shareholders and public companies, the market can decide what the proper cadence is,” Atkins stated, proposing that companies be given flexibility to choose their reporting frequency. This market-driven approach, he argued, would empower firms to align disclosures with their operational needs while ensuring investors receive meaningful updates.
The SEC’s reform plan will involve a proposed rule change, to be voted on by the commission, which currently holds a 3-1 Republican majority. If approved, the shift to semi-annual reporting would mark a significant departure from the quarterly mandate in place since 1970, potentially reshaping how Wall Street values public companies.
Balancing Transparency and Efficiency
While the move to less frequent reporting aims to reduce compliance costs, it has sparked debate about its impact on investor transparency. Critics argue that semi-annual disclosures could limit timely access to financial data, particularly for retail investors who rely on quarterly reports to make informed decisions. Atkins countered that modern communication channels, such as earnings calls and real-time updates, provide investors with ample information, often surpassing the utility of standardized reports. The SEC’s reform plan will likely explore ways to enhance these alternative channels to ensure robust transparency.
The initiative also includes a broader review of disclosure content. Atkins emphasized the importance of tailoring disclosures to deliver actionable insights, potentially streamlining reporting requirements to focus on material information. This could reduce the administrative burden on companies while maintaining investor confidence.
A Broader Context of Regulatory Reform
The disclosure reform aligns with Atkins’ broader vision for a business-friendly SEC. Since taking over as chairman in April 2025, Atkins has prioritized reducing regulatory burdens and fostering capital formation. His leadership has already spurred changes, such as the rollback of climate-related disclosure rules and the introduction of crypto-friendly policies, reflecting a shift from the enforcement-heavy approach of his predecessor, Gary Gensler.
The push for semi-annual reporting also resonates with global practices. For example, China’s Hong Kong Stock Exchange allows voluntary quarterly disclosures but mandates only semi-annual reports, a model Trump cited as enabling a “50 to 100-year view” for corporate management. Atkins’ proposal could position the U.S. closer to such frameworks, encouraging a long-term perspective in corporate decision-making.
Implications for Investors and Companies
The proposed changes carry significant implications for both investors and public companies. For investors, semi-annual reporting could streamline access to critical information, provided alternative channels like earnings calls remain robust. However, retail investors may face challenges if transparency is perceived to decline. For companies, reduced reporting frequency could lower compliance costs, freeing up resources for innovation and strategic growth. Atkins’ market-driven approach, allowing firms to choose their reporting cadence, aims to balance these dynamics.
As the SEC prepares to draft and vote on the rule change, stakeholders will closely monitor its development. The commission’s Republican majority increases the likelihood of approval, but public consultation and potential opposition from investor advocacy groups could shape the final outcome.
Looking Ahead
The SEC’s commitment to reforming disclosure rules marks a pivotal moment for U.S. financial markets. By prioritizing flexibility, efficiency, and long-term value creation, Chairman Atkins aims to modernize corporate reporting while addressing the needs of a diverse investor base. As the agency moves forward with its comprehensive plan, the shift to semi-annual reporting could redefine corporate transparency, fostering a more sustainable approach to governance in an increasingly dynamic economic landscape.
#SEC #CorporateGovernance #InvestorTransparency #RegulatoryReform

Former U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler remains steadfast in his defense of his regulatory legacy, expressing no regrets about his stringent oversight of the cryptocurrency industry. In a recent CNBC interview, Gensler reflected on his four-year tenure, which ended in January 2025, emphasizing his commitment to investor protection. Despite the rapid reversal of his policies under new SEC Chair Paul Atkins and widespread criticism from the crypto sector, Gensler stands by his approach, arguing that most cryptocurrencies, excluding Bitcoin, lack fundamental value and remain highly speculative.
A Tenure Defined by Enforcement
Gensler’s time as SEC Chair was marked by a robust “regulation-by-enforcement” strategy, resulting in nearly 100 legal actions against crypto firms, including high-profile cases against Coinbase, Kraken, and Ripple Labs. He defended these efforts, stating, “I am very proud of what we accomplished. I took an oath and led an enforcement agency dedicated to protecting investors.” His focus on curbing fraud and ensuring compliance, exemplified by the Sam Bankman-Fried case, underscored his belief that the crypto industry’s speculative nature posed significant risks to retail investors.
Gensler’s tenure also saw advancements in broader financial reforms, including shortening settlement cycles, strengthening insider trading rules, and improving U.S. Treasury market stability. He highlighted the introduction of a three-month waiting period for insider trades as a critical step toward market fairness. These achievements, he argued, bolstered investor confidence and reinforced the SEC’s role as a guardian of financial integrity.
A Shift Under Paul Atkins
Since Gensler’s departure, the SEC, under Paul Atkins’ leadership, has pivoted toward a more crypto-friendly stance, dismantling many of his policies. Atkins’ initiatives, such as “Project Crypto” and collaboration with the Commodity Futures Trading Commission (CFTC), have spurred a surge in U.S. crypto innovation, leadership, and capital inflow. Critics of Gensler, including prominent figures like Mark Cuban and Anthony Scaramucci, argued that his enforcement-heavy approach stifled innovation and lacked clear regulatory guidelines. The crypto industry has largely welcomed Atkins’ reforms, viewing them as a catalyst for growth.
Despite this shift, Gensler remains skeptical of the industry’s trajectory. He reiterated that most cryptocurrencies, apart from Bitcoin, trade on “hype” rather than fundamentals, posing risks to everyday investors. “Bitcoin’s not a security, but these 10,000 or 15,000 other tokens—the investing public has been hurt over the many years,” he stated, pointing to a history of noncompliance and fraud in the sector.
Transition to Academia
Following his exit from the SEC on January 20, 2025, coinciding with the inauguration of President Donald Trump, Gensler returned to the Massachusetts Institute of Technology (MIT) as a professor of global economics and management practice. His academic focus now centers on artificial intelligence (AI), financial technology (fintech), and public policy—fields that align with his extensive regulatory experience. At MIT, Gensler aims to shape the next generation of financial leaders, leveraging his insights from navigating one of the most transformative periods in U.S. financial regulation.
The Crypto Debate and Future Implications
Gensler’s unwavering stance highlights a broader debate about the role of regulation in the fast-evolving crypto landscape. While his critics argue that his policies hindered innovation, supporters contend that his enforcement actions protected investors from rampant fraud and speculative bubbles. The contrast with Atkins’ approach underscores a philosophical divide: strict oversight versus fostering innovation through regulatory clarity.
As the SEC adapts to new leadership, the U.S. crypto industry is poised for growth, with initiatives like spot ETFs for Dogecoin and XRP reflecting increased market maturity. However, Gensler’s warnings about speculative assets continue to resonate, particularly as the industry navigates emerging risks like quantum computing threats and AI-driven fraud. His legacy, while controversial, has sparked critical discussions about balancing investor protection with technological advancement.
Looking Ahead
Gary Gensler’s reflections offer a window into the complexities of regulating a nascent industry. As Paul Atkins steers the SEC toward a more permissive framework, the long-term impact of Gensler’s enforcement-driven tenure will remain a point of contention. His return to academia positions him to influence future policy debates, particularly at the intersection of AI, fintech, and regulation. For now, the crypto industry celebrates a new chapter, but Gensler’s emphasis on fundamentals serves as a reminder of the risks that persist in the rapidly evolving digital asset landscape.
#SEC  #BTC  #AI  

demanding a thorough investigation into Justin Sun's business dealings with the Trump family, particularly regarding potential conflicts of interest and national security risks 🤔 🔒
- *Trump Connection:* Sun invested $75 million in Trump's crypto project, World Liberty Financial (WLF), and attended a private dinner with Trump, raising questions about potential conflicts of interest and the SEC's decision to drop its case against Sun 💸
- *Shell Listing Concerns:* Sun's acquisition of US-listed company SRM Entertainment for $210 million has raised concerns about reverse mergers and potential fraud, with lawmakers demanding more information on the deal 📈
- *Chinese Capital Risks:* The letter highlights concerns about Sun's ties to the Chinese government and potential national security risks, with investigations indicating that 17 out of the top 20 Tron wallets are suspected to be linked to criminal organizations within China 🚫

*What's Next?* 🤔 The SEC is expected to respond to the lawmakers' demands and provide more information on its handling of the Justin Sun case. Will this lead to increased scrutiny of crypto projects and their connections to government officials? 👉 #JustinSun #SEC #CryptoRegulation #NationalSecurity #TransparencyDemanded

The U.S. Securities and Exchange Commission (SEC), led by Paul Atkins, is preparing to push through a change that could shake up Wall Street. Instead of mandatory quarterly reports, companies would be allowed to publish earnings only twice a year – exactly what Donald Trump has been calling for.

Trump Pushes, SEC Listens
Earlier this week, Donald Trump called for freeing companies from the pressure of quarterly numbers and moving to semiannual reporting. On Friday, Atkins confirmed live on CNBC that he agrees with the president:

“I welcome this proposal, and we’ve already talked about it.”
According to Atkins, the decision would not be mandatory. Each company could choose whether to continue reporting every three months or switch to a six-month cycle. “The market can decide the right cadence,” Atkins added.

Republicans Hold the Majority at SEC
Passing the change would require only a majority vote. With Republicans currently holding three seats against one Democrat, the proposal has a strong chance of approval.
Trump argues that fewer reports would save money and allow executives to focus on long-term management. Critics, however, warn that reduced transparency could hurt retail investors, while large funds and insiders would gain an edge.

A Global Trend: Fewer Reports, More Long-Term Thinking
Atkins pointed out that semiannual reporting is not new in the U.S. – foreign companies listed on American exchanges have been doing it for years. Inspiration also comes from the $1.6 trillion Norwegian sovereign wealth fund, which recently pushed for the same change: fewer reports, more room for strategic decision-making.
The idea is also backed by the Long-Term Stock Exchange, which promotes patience and a shift away from short-term quarterly pressures as the path to sustainable growth.

The Debate Isn’t New, But This Time It Has Momentum
Whether quarterly reports force companies to prioritize short-term results over long-term strategy has been debated for years. The difference now is that the change has both political and institutional support.
The process will still take time. The SEC must first submit the proposal for public comment before a final vote. Even so, with the current makeup of the commission, the proposal has a clear path forward.

What’s Next?
Atkins made it clear that change is coming:

“Proposing an adjustment to our current system is the right step forward, and then we’ll take it from there,” he said.
Wall Street may soon face the end of its traditional quarterly rhythm, which has dictated markets for decades. If so, it will mark yet another step in Trump’s broader effort to reshape America’s financial system on his own terms.

#TRUMP , #SEC , #WallStreet , #Investing , #PaulAtkins

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SEC Commissioner Hester Peirce noted that exchanges could expand their criteria for their listing standards over time.
Bloomberg senior ETF analyst Eric Balchunas says there’s a “good chance” over 100 crypto ETFs will be launched in the next year.
SEC Commissioner Caroline Crenshaw, the sole Democrat on the commission,
said the agency was “passing the buck” and warned that crypto ETPs are
still new.
In a significant regulatory development, the SEC has authorized new listing standards for cryptocurrency-based funds—a decision that is expected to have far-reaching consequences for digital asset markets. This move has elicited strong reactions across the industry, with many noting the potential for substantial growth in cryptocurrency exchange-traded products (ETPs).
Here’s what’s changed: On Wednesday, the SEC approved proposals from three exchanges that modify the rulebook for commodity-based trust shares. This revision establishes clear, quantifiable requirements for listing such products, essentially streamlining how exchanges can bring crypto ETPs to market.
Traditionally, listing a crypto ETF required the submission of a 19b-4 form, kicking off a review process that could extend up to 240 days. Under the new framework, that review period can shrink to just 75 days and, crucially, ETPs meeting the predefined criteria can bypass the 19b-4 process entirely.
Bloomberg Intelligence Analyst James Seyffart characterized this as the long-awaited “crypto ETP framework,” anticipating a rapid proliferation of spot crypto ETPs in the coming weeks and months. Specifically, the new standards stipulate that any cryptocurrency with a futures contract actively traded on a regulated exchange, such as Coinbase, for at least six months now qualifies for listing.
SEC Commissioner Hester Peirce highlighted the evolving nature of these standards, indicating that exchanges might propose supplementary objective, quantitative criteria in the future—potentially accelerating product launches and increasing regulatory predictability.
Market analysts are projecting that this regulatory shift will usher in a dramatic surge in crypto ETF offerings. According to Bloomberg’s Eric Balchunas, it’s plausible that more than 100 crypto ETFs could launch within the next year. Nate Geraci, President of NovaDius Wealth, summarized the situation succinctly: crypto is entering mainstream finance via ETFs, positioning this structure as a bridge between traditional finance (tradfi) and decentralized finance (defi).
The approval of these standards marks a pivotal transition, not only for regulatory processes but also for the integration of digital assets into asset management and mainstream investment products.
End of an era
The SEC's stance toward crypto has changed dramatically since the start of
the Trump administration in January. President Donald Trump, who has
changed his views toward the industry, is now supportive of crypto and
has launched stablecoins, and has family ties to the decentralized
finance platform World Liberty Financial.
Under the Biden administration, the SEC took a much more cautious approach to
crypto while bringing lawsuits against big players in the space,
including Coinbase and Binance. The agency also applied that approach to
crypto ETFs, but later greenlit spot bitcoin ETFs and then Ethereum
ETFs, following a pivotal court ruling brought by Grayscale.
Trump also tapped crypto-friendly regulator Paul Atkins to lead the SEC.Atkins has since embarked on an initiative called "Project Crypto" to modernize the agency's existing rules around digital assets. On Thursday, Atkins said the agency's approval "helps to maximize investor choice and foster innovation by streamlining the listing process."
“By approving these generic listing standards, we are ensuring that our capital markets remain the best place in the world to engage in the cutting-edge innovation of digital assets," Atkins said in a statement.Jake Chervinsky, chief legal officer at the Variant Fund, called the SEC's approval of the listing standards a "huge deal".
"It’s the end of an era where the SEC allegedly 'protected investors' by denying them access to products they wanted on the venues they preferred," Chervinsky said. "This SEC continues to knock it out of the park.
Solana Policy Institute President Kristin Smith said the SEC is continuing to set clear rules for digital assets.
"These new generic listing standards are a net-positive for U.S. investors, markets, and digital asset innovation," Smith said in a statement.
Excited for the next wave of crypto adoption!
Concerns
SEC Commissioner Caroline Crenshaw, the sole Democrat on the commission,
said the agency was "passing the buck" and warned that crypto ETPs are still new.The Commission is passing the buck on reviewing these proposals and
making the required investor protection findings, in favor of fast tracking these new and arguably unproven products to market," Crenshaw said in a statement. 
Crenshaw also voiced concerns over the use of the terms ETP and ETF, given that
ETPs have less oversight and don't have the protections that ETFs do.
If this seems complicated, it is, and the proposal piles on with more confusion and conflation in the form of its eligibility criteria for generically listing these products, Crenshaw.

#Write2Earn
#SEC
#etf
$SOL