SEC-Crypto Firm Lawsuits Likely to be Dismissed, Says Galaxy Digital CEO
CryptoNewsTerminal Staff31 May, 2024
SEC-Crypto Firm Lawsuits Likely to be Dismissed, Says Galaxy Digital CEO
Mike Novogratz, CEO of Galaxy Digital, has predicted that many lawsuits between the SEC and crypto firms are likely to be dismissed. He stated this at Consensus 2023, citing the SEC Chair Gary Gensler's term ending and the regulatory uncertainty that exists. Novogratz believes that global investment banks like Citi and Jefferies will enter the crypto market if the Biden administration doesn't veto accounting guidance (SAB 121), which requires financial firms to hold crypto custody. This news follows the recent SEC crackdown on crypto firms, including the high-profile case involving Terraform Labs and its co-founder Do Kwon.
