Tagged: enforcement

February 24, 2021 @ 9:12 am By JD Alois  |  

The Financial Conduct Authority (FCA) has announced that it has obtained High Court Approval to return £3.42 million to victims of an unauthorized deposit-taking and collective investment schemes. The FCA states that Digital Wealth Limited, aka Digital Wealth Society (DWS), and Outsourcing Express Limited (OEL)… Read More

February 17, 2021 @ 4:10 pm By JD Alois  |  

The Securities and Exchange Commission has announced charges against Coinseed and its co-founder and CEO, Delgerdalai Davaasambuu, in connection with Coinseed’s offer and sale of digital asset securities. According to Coinseed’s website, the company offers Apps on both the Apple App Store as well as… Read More

February 1, 2021 @ 6:22 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against Kristijan Krstic, founder of Start Options and Bitcoiin2Gen, and John DeMarr, said to be the primary U.S.-based promoter for these companies, for fraudulently induced investors to buy digital asset securities. The complaint states that Krstic… Read More

January 26, 2021 @ 3:22 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has filed a federal civil enforcement action in the U.S. District Court for the Southern District of New York charging Jeremy Spence of New York, alleging fraud for operating a Ponzi scheme involving digital assets such as Bitcoin and… Read More

January 15, 2021 @ 7:31 pm By JD Alois  |  

Earlier today, the Securities and Exchange Commission (SEC) posted a settlement pertaining to Wireline and a SAFT offering that took place in 2018. According to the complaint, the SEC states that: “… between January and September 2018, Wireline, an early-stage project focused on the development… Read More

December 30, 2020 @ 9:53 am By JD Alois  |  

Ripple, the creator of XRP – one of the largest cryptocurrencies in the world by market cap, has posted a brief comment on “recent market participant activity” following XRPs dive in value. XRP began to sink following the revelation of an enforcement action by the… Read More

December 29, 2020 @ 9:05 am By JD Alois  |  

XRP continues to sink in value following the rolling news that more crypto exchanges are deciding to halt trading the digital asset.  On December 22nd, the Securities and Exchange Commission (SEC) revealed an enforcement action targeting Ripple that alleges the sale of $1.38 billion in… Read More

December 28, 2020 @ 12:44 pm By JD Alois  |  

Virgil Capital LLC, directed by Stefan Qin, and its “flagship” cryptocurrency trading fund, Virgil Sigma Fund LP have been hit by fraud charges leveled by the US Securities and Exchange Commission (SEC). Simultaneously, the SEC has obtained an emergency asset freeze related to the charges,… Read More

December 23, 2020 @ 2:20 pm By JD Alois  |  

The Securities and Exchange Commission’s (SEC) lawsuit against Ripple is the largest enforcement action attacking the sale of a cryptocurrency to date. The SEC alleges the sale of an unregistered security in the issuance of XRP, Ripple’s native token. Ripple has been quick to defend… Read More

December 23, 2020 @ 1:28 pm By JD Alois  |  

Bitwise Asset Management, a crypto fund manager since 2017, has announced that the Bitwise 10 Crypto Index Fund (OTCQX: BITW) has liquidated its position in XRP. A Tweet indicated that Bitwise had held an emergency meeting yesterday where the decision was taken to liquidate the… Read More

December 23, 2020 @ 10:40 am By JD Alois  |  

Following the announcement of an enforcement action by the Securities and Exchange Commission (SEC) alleging Ripple engaged in the sale of unregistered securities pertaining to XRP, Ripple has countered and executives have publicly countered the claims. Meanwhile, the lawsuit has caused several digital asset exchanges… Read More

December 22, 2020 @ 3:56 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has publicly posted the complaint charging Ripple with the sale of an unregistered security. Including in the enforcement action are Christian Larsen, the company’s co-founder, executive chairman of its board, and former CEO; and Bradley Garlinghouse, the company’s current… Read More

December 22, 2020 @ 8:38 am By JD Alois  |  

Ripple has posted a response to a Wells Notice received by the blockchain firm. A Wells Notice is a document sent to an entity or individual giving notice of a pending enforcement action following an investigation by the securities regulator. Yesterday, it was reported that… Read More

December 21, 2020 @ 9:12 pm By JD Alois  |  

Ripple, the creator of XRP the third-largest crypto by market cap of over $22 billion, is the target of a Securities and Exchange Commission (SEC) enforcement action. Rumors have been circulating for some time now that Ripple had received a Wells Notice – an indication… Read More

December 21, 2020 @ 7:56 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has accepted an offer to settle from ShipChain, a company that apparently raised $27.5 million in an initial coin offering (ICO) for SHIP tokens. The SEC states that ShipChain is a private company that was engaged in developing a… Read More

December 17, 2020 @ 9:12 am By JD Alois  |  

The same week that Robinhood took a broadside hit by the state of Massachusetts securities regulator, the digital investment platform has now been charged by the Securities and Exchange Commission (SEC) with misleading customers on how it generates revenue. Robinhood strategically settled the charges with… Read More

December 16, 2020 @ 8:29 am By JD Alois  |  

Robinhood, a digital investment platform that has encouraged a new generation of investors to enter the markets, is a target of an administrative complaint by the State of Massachusetts, according to the WSJ.com According to the report, Massachusetts Securities Division said that “Robinhood failed to… Read More

December 15, 2020 @ 6:14 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged Karina Chairez, said to be a promoter of the AirBit Club investment scheme that targeted Latinx and Spanish-speaking communities, for acting as an unregistered broker. The SEC notes that it previously brought similar charges against two other… Read More

December 9, 2020 @ 8:44 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged Amir Bruno Elmaani, aka “Bruno Block,” for conducting an illegal securities offering in an initial coin offering (ICO) and for a plan to profit by issuing millions of unauthorized tokens for himself at no cost and selling… Read More

November 4, 2020 @ 6:40 pm By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) is reporting that the US District Court for the District of Colorado has entered a judgment against defendants Venture Capital Investments LLC (VCI) and its principal and manager Breonna Clark d/b/a Eliot Clark d/b/a Alexander Pak (Clark), of Denver,… Read More