Archives

August 13, 2023 @ 2:03 pm By Omar Faridi  |  

The US Securities and Exchange Commissin (SEC) has postponed its decision regarding Cathie Wood‘s spot Bitcoin ETF application. The US SEC recently confirmed that it will be delaying its decision on whether to greenlight the Cathie Wood-backed Ark Investment Management’s (ARK) spot bitcoin Exchange-Traded Fund…. Read More

August 10, 2023 @ 6:03 pm By JD Alois  |  

As the crypto-sphere knows, last month Ripple/XRP received a partial victory against the Securities and Exchange Commission (SEC) in a court decision that determined that people who bought XRP could not reasonably expect Ripple to act to increase the price of XRP and the sales… Read More

July 31, 2023 @ 12:10 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges for an unregistered securities offering involving crypto. According to the SEC, Richard Heart, also known as Richard Schueler, along with three separate firms, Hex, PulseX, and PulseChain, raised over $1 billion in an unregistered securities offering…. Read More

July 29, 2023 @ 3:39 pm By Tony Zerucha  |  

The Securities and Exchange Commission (SEC) this week adopted rules requiring registrants to disclose material cybersecurity incidents they experience and, on an annual basis, material information regarding their cybersecurity risk management, strategy, and governance. The SEC also adopted rules requiring foreign private issuers to make… Read More

July 29, 2023 @ 10:55 am By Tony Zerucha  |  

This week, the Securities and Exchange Commission (SEC) proposed new rules requiring broker-dealers and investment advisers to address conflicts of interest associated with their use of predictive data analytics and similar technologies to interact with investors. The proposed regulations are designed to prevent firms from… Read More

July 28, 2023 @ 11:38 am By JD Alois  |  

The Securities and Exchange Commission (SEC), Chief Accountant – Paul Munter, has posted a statement on “potential pitfalls of purported crypto assurance work. Munter states that in light of the many scandals of fraud in the cryptosphere, claims by platforms that they retain 3rd party… Read More

July 24, 2023 @ 7:57 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has scheduled an open meeting for later this week. On Wednesday, the Commission will consider new rules for several items. According to the agenda, the Commission will consider. Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure – Division of… Read More

July 21, 2023 @ 6:25 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against the issuer of DWE and BPC alleging the issuance of unregistered securities.  The SEC claims that  Alexander Elbanna and his affiliated entities have committed fraud. According to the SEC, between February 2018 and April 2021,… Read More

July 13, 2023 @ 12:27 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against Celsius Network and its founder and former CEO, Alex Mashinsky. At the same time, the US Department of Justice has filed criminal charges against Celsius, Mashinsky and former Chief Revenue Officer Roni Cohen-Pavon. The SEC… Read More

July 8, 2023 @ 5:15 pm By Omar Faridi  |  

Paul Grewal, the Chief Legal Officer at digital asset firm Coinbase (NASDAQ:COIN), recently noted that after Coinbase gave notice of it intent to move to throw out their case agiast the US Securities and Exchange Commission (SEC), they had reportedly “consented to a few extra… Read More

June 29, 2023 @ 11:43 am By JD Alois  |  

The House Financial Services Committee, under the leadership of Republicans, has sent another letter to SEC Chairman Gary Gensler – this time blasting Gensler for ignoring a previous missive. The Chairman of the Committee, Patrick McHenry, the Chairman of the House Judiciary Committee, Jim Jordan,… Read More

June 21, 2023 @ 1:00 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed an enforcement action against audit firm Marcum LLP regarding its audit work for “hundreds” of SPACs. Marcum has settled the matter without admitting or denying the SEC’s findings, paying a $10 million penalty while agreeing to remedial… Read More

June 17, 2023 @ 12:08 pm By Omar Faridi  |  

A senior US Securities and Exchange Commission (SEC) official on Friday (June 16, 2023) rejected the recent criticism of the regulatory authority’s crypto-related crackdown and also slammed the industry for violating applicable securities laws. As first reported by Reuters, the regulator’s increased scrutiny of cryptocurrency… Read More

June 13, 2023 @ 2:44 pm By JD Alois  |  

House Majority Whip Tom Emmer and Representative Warren Davidson have revealed legislation that aims to remove SEC Chair Gary Gensler. Gensler has received fire from members of Congress who believe he has not pursued rule-making to enable digital asset innovation while focusing his efforts on… Read More

June 7, 2023 @ 4:41 pm By JD Alois  |  

  SEC Commissioners Hester Peirce and Mark Uyeda have issued a public dissent of the Commission’s decision to deny CryptoFed DAO’s request to withdraw its registration statement and the motion to dismiss the case by the Division of Enforcement. In brief, in November 2021, the… Read More

June 6, 2023 @ 6:49 pm By JD Alois  |  

The Competitive Enterprise Institute (CEI), Director of Finance Policy, John Berlau, has shared a comment on the Securities and Exchange Commission’s enforcement action targeting Coinbase (NASDAQ:COIN). Earlier today, the SEC filed charges against Coinbase, alleging that the crypto platform is operating as an unregistered securities… Read More

May 30, 2023 @ 4:20 pm By JD Alois  |  

Former Coinbase (NASDAQ:COIN) executive Ishan Wahi and his brother, Nikhil Wahi, have agreed to settle charges leveled by the Securities and Exchange Commission (SEC). In mid-2022, the SEC announced the charges alleging insider trading. The defendants were allegedly benefiting from information prior to it becoming public… Read More

May 19, 2023 @ 10:27 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has received a default judgment against Chicago Crypto Capital (CCC) and its founder Brian Amoah and former salesperson Elbert “Al” Elliott. The defendants were previously charged with fraud and the unregistered offering of digital asset securities. The SEC claims… Read More

May 18, 2023 @ 10:23 am By JD Alois  |  

Earlier this week, CI reported that ten companies that raised money under the Regulation A (Reg A+) securities exemption were the targets of enforcement actions by the Securities and Exchange Commission (SEC). All of these issuers settled with the Commission by paying a penalty ranging… Read More

May 16, 2023 @ 9:28 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against ten firms that raised money using the Reg A+ (Regulation A) securities exemptions. Each firm has agreed to pay a civil penalty ranging from $5000 to $90,000. Under the JOBS Act of 2012, Regulation A… Read More