Focus on Crypto Regulation
The SEC Chair Gary Gensler testified before the Senate Banking Committee at an oversight hearing. His testimony included discussion of consumer protection regarding crypto trading and lending platforms, stable value coins, investment vehicles providing exposure to crypto assets or crypto derivatives and custody of crypto assets.

Bitcoin ETF
Speculation continued on the timing of a potential approval on a Bitcoin ETF, with reports of furthermeetings between the industry and the SEC.

Cybersecurity Disclosures
Attention is focused on recent SEC enforcement actions. They “warned” that cybersecurity issues needto be treated as seriously as all other disclosure obligations.

SPAC Regulations
SEC Chair Gary Gensler signaled that new SPAC regulations would be coming for public comment,including focus on disclosures and conflict of interest.

Source Code Theft
A jury announced that would pay $14 million payment to Proofpoint for source code theft. Proofpoint CEO Gary Steele noted the jury was sending a “strong message that the theft of source code andmisappropriation of trade secrets is unacceptable.”