Archives

October 26, 2023 @ 1:18 pm By Omar Faridi  |  

Crypto exchange Coinbase (NASDAQ:COIN) is alleging that the US Securities and Exchange Commission (SEC) has overstepped in the firm’s most recent effort to dismiss the ongoing lawsuit. Coinbase’s response to the SEC‘s lawsuit filed earlier this year is that not everything qualifies as a security…. Read More

October 23, 2023 @ 2:22 pm By JD Alois  |  

Update: The Subcommittee hearing has been postponed until a later date. Tomorrow, the Subcommittee on Capital Markets, part of the House Financial Services Committee, will hold a hearing entitled “Examining the SEC’s Agenda: Unintended Consequences for U.S. Capital Markets and Investors.”  According to the Hearing… Read More

October 20, 2023 @ 1:19 pm By JD Alois  |  

It was reported yesterday that the Securities and Exchange Commission (SEC) had dropped its charges against Ripple executives Brad Garlinghouse (CEO) and Chris Larsen (Chairman). Charges remain for Ripple itself. Ripple has posted a release on the legal victory, calling it a “stunning capitulation by… Read More

October 16, 2023 @ 4:43 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Division of Examinations, has posted its 2024 examination priorities, including digital assets and Fintech items. The Division of Enforcement noted that last year, it established specialized teams within the various examination programs, including “crypto assets, financial technology [Fintech], such… Read More

October 16, 2023 @ 10:06 am By JD Alois  |  

It has been widely reported that the Securities and Exchange Commission (SEC) has decided not to appeal a decision by the courts that reflects favorably on Grayscale’s push to launch a Bitcoin ETF. Grayscale currently lists a Bitcoin Trust on OTC Markets, along with other… Read More

October 9, 2023 @ 5:24 pm By JD Alois  |  

  One of the top items on the Securities and Exchange Commission (SEC) agenda under the leadership of Chair Gary Gensler is changes to Regulation D (Reg D) along with updates to the definition of an Accredited Investor. Currently, these amendments are number seven on… Read More

October 9, 2023 @ 11:51 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has scheduled an open meeting of the Commission on two rule changes. First, the Commission will consider whether to adopt a rule under the Securities Exchange Act of 1934 to “increase the transparency and efficiency of the securities lending… Read More

October 6, 2023 @ 12:08 pm By JD Alois  |  

Elon Musk has taken to X to predict a massive overhaul of the Securities and Exchange Commission (SEC) and other regulators. Responding to an X from Mario Nawful, Musk had this to say: “A comprehensive overhaul of these agencies is sorely needed, along with a… Read More

October 5, 2023 @ 10:49 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has issued an order directed at Elon Musk, seeking to compel the world’s wealthiest entrepreneur to “comply with an investigative subpoena calling for his appearance for testimony.” Musk, who acquired Twitter, now named X, has become a target for… Read More

October 3, 2023 @ 1:00 pm By JD Alois  |  

The SEC’s annual Small Business Forum took place earlier this year, and in recent days, the report from the gathering was published. The Forum has taken place for more than 40 years, and while the participants regularly provide good recommendations to the Commission, few will… Read More

September 27, 2023 @ 3:36 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has published a long list of rule changes it intends to pursue. The complete agenda established by the Commission, under the leadership of SEC Chair Gary Gensler, is available here. One of the rule changes near the top is… Read More

September 27, 2023 @ 10:14 am By JD Alois  |  

In the minutes before the testimony by SEC Gary Gensler in front of the House Financial Services Committee, the leadership has distributed a letter pounding Chair Gensler on the “cumulative impact” of the SEC’s rulemakings during his tenure. The Republican leadership demands that Gensler “ahalt… Read More

September 27, 2023 @ 9:55 am By JD Alois  |  

  Today, commencing shortly, SEC Chair Gary Gensler will testify in front of the House Financial Services Committee. You can expect a good grilling of Chair Gensler as the Republic-controlled Committee has pushed against his aggressive rule-making agenda that has propelled the SEC into the… Read More

September 25, 2023 @ 12:05 pm By JD Alois  |  

Securities and Exchange Commission Chair Gary Gensler will traverse up to Capitol Hill this week to testify in front of the House Financial Services Committee in what could be a fairly robust hearing. The hearing memo includes a litany of issues that Chair Gensler is… Read More

September 15, 2023 @ 10:30 am By JD Alois  |  

The Securities and Exchange Commission (SEC), Investor Advisory Committee will meet next week and will discuss two very important policy items that impact capital raising for private firms. The first panel discussion will review exempt securities offerings under Reg D. This exemption, only available to… Read More

September 13, 2023 @ 7:23 pm By JD Alois  |  

Earlier today, the Securities and Exchange Commission (SEC) announced an enforcement action against Stoner Cats and the creation of non-fungible tokens (NFTs) that were sold to the public. In total, Stoner Cats sold over $8 million in these NFTs which then were available for resale… Read More

September 13, 2023 @ 3:40 pm By JD Alois  |  

Stoner Cats 2 LLC has been charged by the Securities and Exchange Commission (SEC) for pursuing an unregistered securities offering with the issuance of non-fungible tokens (NFTs). This is the second enforcement action targeting an NFT issuer as it broadens its targets in the digital… Read More

September 12, 2023 @ 3:17 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) says it has settled charges against Yieldstreet, a top alternative investment platform mainly serving accredited investors. According to the SEC, Yieldstreet failed to disclose critical information pertaining to an asset-backed securities offering that totaled $14.5 million. Yieldstreet has settled… Read More

September 8, 2023 @ 8:41 am By JD Alois  |  

The Securities and Exchange Commission has settled charges against Linus Financial, Inc. for failing to register the offers and sales of its retail crypto lending product, the Linus Interest Accounts. The SEC decided against having Linus pay penalties as the company took “prompt remedial actions”… Read More

August 29, 2023 @ 5:26 pm By JD Alois  |  

Yesterday, Grayscale received a solid legal victory in its attempt to offer a Bitcoin ETF. A federal court deemed the Securities and Exchange Commission’s decision to block the launch of the exchange-traded product as “capricious”. Grayscale is currently reviewing its options and the SEC has… Read More