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The Securities and Exchange Commission is investigating every U.S. crypto exchange, according to a Senate staffer.

A staff member from Sen. Cynthia Lummis's (R-WY) office claimed that every one of the more than 40 crypto exchanges in the United States is being investigated by the SEC, according to Forbes.

The SEC has taken high-profile public action against crypto exchanges. Coinbase, one of the largest crypto exchanges in the industry, is currently involved in an SEC investigation over allegations of improperly letting Americans trade digital assets as securities. The various exchanges are in different stages of investigation, but they are all under investigation, according to the staffer.

BIPARTISAN LEGISLATION WOULD REGULATE CRYPTOCURRENCIES THROUGH THE CFTC

The U.S Commodity Futures Trading Commission has pushed back on the SEC's pressure on the crypto industry, alleging that the SEC is engaging in "regulation through enforcement," thus creating tension between the two financial regulatory agencies. While the SEC wants to resolve the tension, Lummis's staffer said that legislators would get involved if it is not resolved expediently. They also expect Congress to side with the CFTC on the matter.

At least one senior executive at an exchange told Forbes that several exchanges had received Wells notices from the SEC, which are used to inform companies formally that an action is to be brought against them.

Lummis's staff has been involved in creating legislation to start taking steps toward regulating digital assets like crypto. Lummis co-sponsored the Responsible Financial Innovation Act alongside Sen. Kirsten Gillibrand (D-NY) and introduced the legislation to Congress in June. The bill is being considered by the Finance Committee.

Congress has taken additional actions toward regulating the industry in the last few weeks. Sens. Debbie Stabenow (D-MI) and John Boozman (R-AR) introduced the Digital Commodities Consumer Protection Act of 2022 on Tuesday, giving the CFTC new powers to regulate digital commodities.

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The SEC declined to comment.

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News Source: washingtonexaminer.com

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Maggie Haberman Says Trump is Spooked Despite Projecting Confidence About DoJ Probe: Donald Trump Fears Investigations

New York Times correspondent and CNN analyst Maggie Haberman said former President Donald Trump is trying to “project confidence,” but the threat of criminal prosecution definitely has him worried.

On Friday night’s edition of CNN’s Anderson Cooper 360, fill-in host Jim Sciutto asked Haberman to weigh in on Trump’s recent endorsements, and also asked whether both the Fulton County grand jury investigation and Attorney General Merrick Garland‘s January 6 probe are affecting Trump’s decision-making regarding a presidential run:

SCIUTTO: It has been a good week for the former President in several of these primaries, in a number of states. What is your sense of what he believes he gains from these endorsements and speeches? And do you believe and you’ve been covering them longer than anyone, this is building up to another presidential run?

MAGGIE HABERMAN: The honest answer, Jim, is what he gains from it is attention and people talking about him as we are and as other people are, and that’s how he looks at this.

Now, he tends to treat these endorsements, and all of politics in general, as if it’s a scoreboard as opposed to sort of an ongoing amassing of supporters and you know, he dives into some of these primaries. You know, at the last minute at like, in the case of tutor Dixon, in some cases, it’s without giving it much more forethought.

You know, he also had a weird thing in Missouri, where he endorsed, you know, two of the three I think it was Eric’s in the Senate race.

So he did have a good week in terms of the fact that the candidates he backed won, whether it is all building to another presidential campaign, I think that you know, the main impetus for him running again, Jim, is not because he particularly wants the job again, although he will talk about that. But the second that he says that he is not running, you know, the crown in the Republican Party goes to somebody else. And I think it’s as simple as that.

SCIUTTO: Do the ongoing prosecutions, both January 6 Committee, but more notably, the DOJ possible criminal prosecution, is that a factor? I mean, you’ve heard theorizing that he wants to run because he thinks that would head off potential criminal charges indictments?

HABERMAN: Yes, I believe it is based on my reporting. Yes. I mean, you know, this is something that he has alluded to, in some conversations. You know, he tries to project confidence about — at least about the DOJ investigation.

You know, he has openly talked more worriedly about the Georgia investigation in Fulton County, into his actions in that state. However, Donald Trump fears investigations, generally speaking, and the fact that the DOJ is now calling in witnesses from the White House, only ups the level of concern.

Watch above via CNN.

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