October 12, 2018 @ 3:07 pm By Cali Haan  |  

The American Securities and Exchange Commission (SEC) has been following up on “scores” of subpoenas it sent in January to companies issuing ICOs (initial coin offerings) and is now focussing on those and “many more” that sold ICOs to unaccredited investors, Yahoo Finance reports. Based… Read More

October 11, 2018 @ 12:05 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has taken action against an initial coin offering (ICO) that falsely claimed to be approved by the SEC. The enforcement action was filed against Blockvest LLC and company founder Reginald Buddy Ringgold, III. Additionally, the SEC obtained an emergency… Read More

October 3, 2018 @ 1:38 pm By JD Alois  |  

Last week, CI reported on a court ruling where the Judge determined the Commodity Futures Trading Commission (CFTC) has jurisdiction in the case of My Big Coin Initial Coin Offering (ICO). The statement by the court will have ramifications for other actions pertaining to ICO… Read More

October 1, 2018 @ 9:46 pm By Onki Kwan  |  

On September 27, 2018, the SEC filed a lawsuit against Elon Musk for committing securities fraud because of some tweets he published on August 7, 2018. A mere two days later, September 29, 2018, Musk settled with the SEC. As part of their settlement agreement,… Read More

September 30, 2018 @ 11:22 am By JD Alois  |  

“…when companies and corporate insiders make statements, they must act responsibly, including endeavoring to ensure the statements are not false or misleading and do not omit information a reasonable investor would consider important in making an investment decision.” – Jay Clayton, Chairman of the SEC… Read More

September 28, 2018 @ 2:43 pm By JD Alois  |  

LendingClub (NYSE:LC) has responded to the just announced charges and settlement by the Securities and Exchange Commission (SEC) pertaining to allegations of misconduct by former executives. Specifically, LendingClub Asset Management, along with former Executives Renaud Laplanche and Carrie Dolan, have entered into a settlement with… Read More

September 28, 2018 @ 2:07 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged LendingClub Asset Management LLC, and former President Renaud Laplanche with fraud for improperly using fund money to benefit LendingClub.  LendingClub Asset Management, Laplanche, and former CFO Carrie Dolan, also were charged with improperly adjusting fund returns. The… Read More

September 27, 2018 @ 6:38 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) announced an enforcement action today against an Austria based international securities dealer with providing securities swaps funded by Bitcoin. The SEC charges Patrick Brunner, CEO of 1pool Ltd. a/k/a 1Broker – registered in the Marshall Islands, with violations of US… Read More

September 27, 2018 @ 1:00 pm By Cali Haan  |  

The SEC told a New York courtroom Tuesday that two defendants accused of selling a fraudulent ICO (initial coin offering) called “Plexcoin” have been ignoring court orders to document their assets and are refusing to “participate meaningfully” in an SEC court action against them. According… Read More

September 21, 2018 @ 10:13 am By JD Alois  |  

The saga of the GAW Miners / ZenMiner fraud has come to an end. On September 13, 2018, the perpetrator of the fraud, Homero Joshua Garza, was sentenced to 21 months of imprisonment. The criminal action was completed alongside an SEC civil enforcement action. The US… Read More

September 21, 2018 @ 9:49 am By JD Alois  |  

In a speech delivered this week, Stephanie Avakian, Co-Director of the Division of Enforcement at the Securities and Exchange Commission (SEC), discussed their approach to dealing with the avalanche of initial coin offerings (ICOs) and digital assets in general. Avakian said that as of the Q2… Read More

September 19, 2018 @ 10:13 pm By JD Alois  |  

The Australian Securities and Investment Commission (ASIC) has issued a statement indicating it has taken action against “misleading Initial Coin Offerings (ICOs) and crypto-asset funds” which have targeted retail investors.  ASIC said it has stopped several ICOs or “token generation events.” These ICOs have been… Read More

September 12, 2018 @ 11:36 am By Cali Haan  |  

Authorities in the state of Gujarat, India have been asked by representatives from Illinois and Arizona states to seize the property of Indian citizens accused of promoting Bitconnect, a “wide-ranging Ponzi scheme” that allegedly bilked investors out of an estimated $5.6 billion before it collapsed in… Read More

September 11, 2018 @ 12:55 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) says that TokenLot, a self professed ICO Superstore, will settle charges regarding allegations the firm operated as an unregistered broker dealer. The SEC notes this is the first case charging unregistered broker-dealers for selling digital tokens after the SEC… Read More

September 11, 2018 @ 12:41 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has taken its first-ever enforcement action against a hedge fund manager based on its investments in digital assets. The SEC has issued an Order finding Crypto Asset Management LP (CAM) as operating as an unregistered investment company. The SEC… Read More

September 10, 2018 @ 9:22 am By JD Alois  |  

Riot Blockchain (NASDAQ: RIOT), a crypto company that engages in mining, development of exchange and mining pool platforms, and other investments within the sector, has announced a restructuring following the departure of CEO and Chairman John O’Rourke. O’Rourke departed the firm following an enforcement action by the… Read More

August 29, 2018 @ 10:57 pm By Cali Haan  |  

The CEO and founder of Springleap, Inc. and an ICO project called Shopin, which raised $46 million in an ICO (initial coin offering) sale this year, has been indicted on multiple counts of grand larceny and fraud for conduct related to the sale of “convertible… Read More

August 29, 2018 @ 10:30 am By Cali Haan  |  

Three companies ordered by the Colorado Securities Commissioner Gerald Rome to justify their ICOs (initial coin offerings) in a live hearing before commissioners August 24th failed to appear, according to notice by the Colorado Department of Regulatory Agencies. Expectations are there likely won’t be another hearing…. Read More

August 24, 2018 @ 9:13 am By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has won a big victory in a trial against Patrick K. McDonnell and CabbageTech Crop – a company that was doing business as Coin Drop Markets. McDonnel, and his company, was assessed penalties and restitution of over $1.1 million as… Read More

August 21, 2018 @ 10:56 am By Cali Haan  |  

A judge’s plan to allow a young man accused of hacking a popular online video game system to post $750 000 bail in cryptocurrency have hit a snag, Market Watch reports. Martin Marsich, 25, was arrested at San Francisco Airport August 8th while reportedly on… Read More