SEC Modernizes Filing Fee System, Tighter Crypto Regulation Looms

SEC Modernizes Filing Fee System, Tighter Crypto Regulation Looms
HeadlinesNewsSEC Modernizes Filing Fee System, Tighter Crypto Regulation Looms

Share

SEC Modernizes Filing Fee System, Tighter Crypto Regulation Looms

Crypto Daily™3 days ago
Published on October 14, 2021 00:30 GMT+00:00edited on October 15, 2021 11:04 GMT+00:00

Share

The U.S. Securities and Exchange Commission (SEC), has announced that it is modernizing its filing fee disclosure and payment methods to a new system that would require operating companies and investment companies, including crypto firms and exchanges, to “pay filing fees when engaging in certain transactions.”

According to the SEC’s official press release on the matter, the amendments will also add new options for Automated Clearing House (ACH) and debit and credit card payment of filing fees. This means that crypto firms working with and doing these same functions may incur more fees, leading to higher servicing costs for consumers and average crypto users.

“The Commission voted unanimously to modernize how filing fees are reported, calculated, and paid. I am …