Archives

February 14, 2025 @ 4:42 pm By Omar Faridi  |  

The US Securities and Exchange Commission (SEC) recently acknowledged Grayscale’s proposal for a Dogecoin (DOGE) exchange-traded fund and is currently interested in receiving public comments. In a 19b-4 form shared this past Thursday (February 13, 2025) confirming NYSE Arca‘s filing, on behalf of Grayscale, the… Read More

February 12, 2025 @ 5:03 pm By Omar Faridi  |  

Eric Council Jr. from Athens, Alabama, has confessed to his role in a scheme involving the unauthorized takeover of the U.S. Securities and Exchange Commission (SEC)‘s X account, which was then allegedly used to disseminate false and misleading information and manipulate Bitcoin (BTC) prices. The… Read More

February 11, 2025 @ 12:30 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced a change regarding rules enacted by the Commission during the Biden Administration that sought to target climate disclosure for reporting firms. As part of the controversial ESG initiatives launched by the previous Chairman of the SEC, Gary… Read More

February 9, 2025 @ 11:50 am By JD Alois  |  

After years of actively undermining digital asset innovation, the Securities and Exchange Commission (SEC) will take steps to recognize and enable new technology that will improve the securities ecosystem and potentially help create new asset classes traded around the world. During the Biden Administration,  the… Read More

February 3, 2025 @ 10:22 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has been criticized in the past for being overly aggressive in its enforcement actions. It should come as no surprise that regulators are going to regulate, and the SEC sometimes appears to be a hammer looking for a nail… Read More

January 27, 2025 @ 1:19 pm By JD Alois  |  

ICAN, or Investors Choice Advocates Network, is a non-profit that advocates on behalf of underserved investors and those individuals deemed to be unfairly targeted by the Securities and Exchange Commission. ICAN supports investors’ rights, which sometimes suffer from too much government and too little freedom…. Read More

January 25, 2025 @ 1:00 pm By Omar Faridi  |  

CLS Global FZC LLC, a financial services firm known in the cryptocurrency industry as a “market maker,” has agreed to resolve criminal charges relating to its fraudulent manipulation of cryptocurrency trading volume. As part of the criminal resolution, CLS Global will plead guilty to the… Read More

January 24, 2025 @ 4:00 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against the CEO of a startup artificial intelligence (AI) firm and his wife. The SEC alleges fraud involving fake audit reports and other financial documents. A criminal indictment has simultaneously been revealed, charging the duo with… Read More

January 23, 2025 @ 6:28 pm By JD Alois  |  

SEC Staff Accounting Bulletin (SAB) 121 is no more. Today, SAB 122 rescinded the guidance of SAB 121 – the bulletin that “expressed the views of the staff regarding the accounting for obligations to safeguard crypto-assets an entity holds for platform users.” Effectively, this made… Read More

January 22, 2025 @ 6:10 pm By JD Alois  |  

This past week, the Securities and Exchange Commission (SEC) announced a new Crypto Task Force established with the mission of creating a regulatory framework for digital assets. After years of regulation by enforcement, the SEC is finally doing its job. The change arrived with the departure of Gary Gensler as… Read More

January 22, 2025 @ 12:26 pm By JD Alois  |  

The new Trump administration has moved quickly to reverse the Biden administration’s anti-digital asset innovation policies. This week, Commissioner Mark Uyeda was selected as the acting Chair of the SEC. His first act was to create a Crypto Task Force led by Commissioner Hester Peirce,… Read More

January 21, 2025 @ 9:27 am By JD Alois  |  

Commissioner Mark Uyeda has been designated the Acting Chair of the Securities and Exchange Commission (SEC) following the inauguration of President Donald Trump and the exit of the Biden Administration. Former SEC Chairman Gary Gensler officially exited his leadership role at the Commission on the… Read More

January 20, 2025 @ 10:10 am By Omar Faridi  |  

The US Securities and Exchange Commission has recently announced that, based on its preliminary results, it filed 200 total enforcement actions in the first quarter of fiscal year 2025, which ran from October through December 2024, including “118 standalone enforcement actions.” The Division filed a… Read More

January 16, 2025 @ 6:59 pm By Omar Faridi  |  

The U.S. Securities and Exchange Commission (SEC) has filed an appeal against a US federal judge’s decision in its partially unsuccessful case against enterprise blockchain firm Ripple Labs, a move that has been heavily criticized by Ripple’s chief legal officer. In a Jan. 15 filing… Read More

January 16, 2025 @ 8:29 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has shared that it has settled with crypto lender Plutus Lending, LLC by paying a civil penalty of $1.65 million. According to the SEC, Plutus, doing business as Abra, offered a retail crypto asset lending product, Abra Earn –… Read More

January 14, 2025 @ 9:50 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed a lawsuit against Elon Musk, a move that some will undoubtedly label as politically motivated. Musk, according to the SEC, failed to file a beneficial ownership report in a timely manner when he acquired 5%+ of Twitter – now X…. Read More

January 14, 2025 @ 8:22 am By JD Alois  |  

Coinbase (NASDAQ:COIN) won a minor victory in court regarding its ongoing legal battle with the Securities and Exchange Commission (SEC). Coinbase Chief Legal Officer Paul Grewal shared via X that the Third Circuit Court has chastised the SEC for its denial of rulemaking – something… Read More

January 13, 2025 @ 5:57 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has assessed $45 million in penalties on neobroker Robinhood Securities LLC and Robinhood Financial LLC. The monetary settlement concerns various charges leveled by the SEC at the broker-dealers. Robinhood Securities agreed to pay a $33.5 million penalty, and Robinhood… Read More

January 13, 2025 @ 11:52 am By JD Alois  |  

Senator Tim Scott, the new Chairman of the Senate Banking Committee, has issued a statement on Paul Atkins, the individual selected by President-elect Trump to lead the Securities and Exchange Commission. Atkins, if approved by the Senate, will replace the unpopular SEC Chair Gary Gensler…. Read More

December 27, 2024 @ 4:25 pm By JD Alois  |  

Any issuer of securities using the Reg D exemption must file a document with the Securities and Exchange Comission 15 days after the first sale of securities. The two-page document is super simple to complete, and no follow-up filings are required. This simplicity has helped… Read More