Crypto market participants in the United States are excluded from airdrops for legal reasons.
A US Congressman and the Chair of House Committee on Financial Services ask SEC Chair Gary Gensler to provide clarity on airdrops. SEC Chair Gary Gensler faces the question of how the agency believes the Howey test applies to free crypto tokens sent to users. Decentralized Ethereum re-staking protocol Eigenlayer and meme coin projects like Simon’s Cat have airdropped tokens in 2024.
Congressmen demand answers: Are crypto airdrops securities? Two top Republicans have given SEC Chair Gary Gensler until September 30 to answer their questions on crypto airdrops and why US citizens are blocked from claiming them. Typically, airdrops are part of the marketing effort for crypto projects that send digital assets to eligible users who interact with or drive adoption of the cryptocurrency in its early stages.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Crypto legal experts from Ripple, Uniswap, Ethena Labs slam SEC for the term ‘crypto asset securities’Ripple’s Chief Legal Officer (CLO), Stuart Alderoty, reacted to the US Securities & Exchange Commission’s (SEC) use of the term ‘crypto asset securities’ in lawsuits against cryptocurrency exchanges and firms.
Read more »
SEC Veteran Reacts to Surprising U-Turn in Binance Case: DetailsSEC's surprising U-turn on crypto asset security term sparks reaction in crypto community
Read more »
Top House Republicans demand answers from SEC on regulatory approach to crypto airdropsAirdropping is when a blockchain project developer sends free tokens directly to a crypto wallet to attract users to a platform, similar to airline miles or credit card points.
Read more »
Solana's Former Top Decentralized Crypto Exchange Faces SEC Securities ViolationsDanny is CoinDesk's Managing Editor for Data & Tokens. He owns BTC, ETH and SOL.
Read more »
Coinbase’s Top Lawyer Criticizes SEC For Inconsistent Crypto RegulationPaul Grewal, Coinbase's Chief Legal Officer, took to social media to criticize the Securities and Exchange Commission (SEC) for its inconsistent approach to cryptocurrency regulation. He highlighted the contradictions in the agency's regulatory framework, particularly as it pertains to emerging fraud schemes like 'pig butchering.'
Read more »
AP Top 25: SEC grabs six of top seven spots, Notre Dame falls to No. 18After the first shake-up of the college football season, the Southeastern Conference grabbed six of the top seven spots in the AP Top 25, a first in the 88-year history of the rankings. Georgia received 54 out of a possible 63 first-place votes to keep a firm hold on No. 1. No.
Read more »