Llamas says we just can't wait anymore and Prigar Medis agrees to a nearly $2 million

SEC fine. This is Coin Desk Daily. I'm your host, Jen Senassi.

With all eyes on the upcoming U.S. election, it seems unlikely that the industry will see

crypto legislation this year.

However, two of the leading lawmakers rep Patrick McHenry and Senator Cynthia Lummis believe that a chance

remains for a bill to clear Congress before the end of the year. Congress is heading into a so-called

lame duck season after the elections before the new members arrive for next year's

session. And that's when Senator Lomas thinks something can be done for a crypto bill. At an event

hosted by Georgetown University, the senator from Wyoming addressed the regulatory framework in Europe

and said, quote, we just can't wait anymore. Accounting firm, Prager, Medis has agreed to pay the U.S. SEC $1.95 million to settle allegations

brought by the regulator.

$745,000 of the settlement is tied to the firm's bungled audit of FTX before its collapse in November

2022.

In the two audit reports, Prager Metis produced for FTX in 2021 and 2022, the SEC

alleges that the firm falsely represented that the audits were compliant with the generally

accepted auditing standards. The rest of the nearly $2 million goes toward a second SEC

investigation into Prager Medis, which accused the firm of violating auditor independence

rules in the audits of over 200

companies between 2017 and 2020.

And the legal battle between prediction market Kalshi and the CFTC is not over.

Rothen-Benham, chairman of the regulator, said the agency will keep pursuing the case against

Kalsh's election contracts.

...