Tagged: enforcement

March 28, 2025 @ 10:54 pm By Michael Wong  |  

Thailand’s Securities and Exchange Commission (SEC) has filed a criminal complaint against Aux Cayes FinTech Co. Ltd., operator of digital asset exchange platform OKX, and nine associated individuals for allegedly running an unlicensed digital asset exchange, the regulator announced. The complaint, lodged with Thailand’s Economic… Read More

March 27, 2025 @ 12:10 pm By JD Alois  |  

The Securities and Exchange Commission has continued its retreat from regulation by enforcement regarding digital asset firms by ceasing its enforcement action against crypto exchange Kraken. Also known as Payward and Payward Ventures, the Commission said the case was dismissed with prejudice, which means permanently…. Read More

March 27, 2025 @ 6:26 am By Omar Faridi  |  

The rise of cryptocurrency has not only disrupted traditional finance but also presented new avenues for illicit activity. However, as detailed in Chainalysis’ report, the transparency of blockchain technology has both advantages and certain drawbacks. Chainalysis explained in the update that while criminals move billions… Read More

March 11, 2025 @ 3:41 pm By JD Alois  |  

Robinhood (NASDAQ: HOOD) has been penalized by FINRA for allegations of certain regulatory transgressions. According to the FINRA documents, Robinhood Securities must pay a fine of associated with a “failure to detect investigate, or report a wide variety of suspicious activity, including manipulative trading, suspicious… Read More

March 11, 2025 @ 10:31 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has updated rules for enforcement actions. According to a document posted on the SEC’s website, the Director of Enforcement will no longer be able to issue formal orders of investigation and must seek Commission approval before pursuing the investigation…. Read More

March 10, 2025 @ 6:42 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged real estate investment platform Outlier Realty Capital with misleading investors about the use of funds. The SEC reports that a settlement is in the works, as defendants have agreed to pay a total of $3.3 million to move… Read More

March 6, 2025 @ 3:00 pm By JD Alois  |  

ICAN [Investors Choice Advocate Network], a legal advocacy group supporting smaller firms and individuals targeted by the Securities and Exchange Commission, says it has won another case as the courts have dismissed the PulseChain case. In 2023, the SEC filed charges against Richard Heart [aka… Read More

March 5, 2025 @ 9:57 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has backtracked on another crypto-related enforcement action or investigation. Yesterday, Cumberland DRW posted on X that its case had been dismissed in principle and is currently awaiting Commission approval. Cumberland said it was looking forward to working with the… Read More

March 1, 2025 @ 1:00 pm By Omar Faridi  |  

The U.S. Securities and Exchange Commission (SEC) has recently changed its overall approach to crypto-related enforcement actions, signaling a potential switch in its once-aggressive “regulation by enforcement” strategy. On February 26, 2025, the SEC and Tron founder Justin Sun jointly requested a pause in their… Read More

February 26, 2025 @ 9:43 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) issued a statement today noting that a final judgment against Sergii “Sergey” Grybniak and his blockchain marketplace Opporty International, had been entered by the US District Court, Eastern District of New York. The SEC was granted partial judgment on… Read More

February 26, 2025 @ 10:38 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has apparently closed another investigation pursuing a digital asset entity.  According to Uniswap Labs, the SEC has given notice that it will close the action after the multi-year investigation into its activities. Uniswap received a Wells Notice in the… Read More

February 25, 2025 @ 9:34 am By JD Alois  |  

During the Biden Administration, digital assets were regulated by enforcement as the Securities and Exchange Commission (SEC) refused to provide regulatory clarity for firms engaged in the trading and issuance of crypto. In effect, the SEC told platforms and issuers to come in and register… Read More

February 21, 2025 @ 11:28 am By JD Alois  |  

Coinbase (NASDAQ:COIN) is reporting that the Securities and Exchange Commission (SEC) is poised to drop all charges leveled at the digital asset platform, contingent upon the approval of a majority of Commissioners. As Republicans now control the Commission, this should be little more than a… Read More

February 15, 2025 @ 4:04 pm By Omar Faridi  |  

Two Estonian nationals have reportedly pleaded guilty to an alleged $577M cryptocurrency fraud scheme. The scheme is said to have victimized hundreds of thousands of people in the United States and abroad. As stated in the announcement, two Estonian nationals pleaded guilty for their operation… Read More

February 8, 2025 @ 10:49 am By Omar Faridi  |  

A five-count criminal indictment was unsealed in federal court in New York charging a Canadian man with “exploiting vulnerabilities” in decentralized finance protocols to “fraudulently obtain about $65 million from the protocols’ investors.” According to court documents, from 2021 to 2023, Andean Medjedovic, 22, allegedly… 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 31, 2025 @ 1:45 pm By JD Alois  |  

Yesterday, the Consumer Financial Protection Bureau (CFPB) issued a statement pertaining to an enforcement action against global Fintech Wise. The action arrived with a $2.5 million penalty for the firm. The CFPB claims that Wise failed to serve consumers sufficiently as it misled US customers… Read More

January 30, 2025 @ 5:32 pm By JD Alois  |  

UK-based Fintech Wise (LON: WISE) has been penalized by the Consumer Financial Protection Bureau (CFPB). Wise has been ordered to pay $2.5 million for claims of failing to provide disclosures to consumers. The $2.5 million is split between $450,000 in redress for impacted individuals and… 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 20, 2025 @ 8:11 am By Omar Faridi  |  

The Consumer Financial Protection Bureau (CFPB) took action against Equifax, the nationwide consumer reporting agency, for its failure to conduct “proper investigations” of consumer disputes. The CFPB found Equifax (allegedly) “ignored consumer documents and evidence submitted with disputes, allowed previously deleted inaccuracies to be reinserted… Read More