Tagged: enforcement

September 13, 2024 @ 8:26 am By Omar Faridi  |  

The UK’s Financial Conduct Authority (FCA) has charged Mr Olumide Osunkoya, who is 45 and resides in London, for “unlawfully running multiple crypto ATMs without FCA registration.” Crypto ATMs are machines that “allow you to buy or convert money into cryptoassets.” Mr Osunkoya is accused of running… Read More

September 12, 2024 @ 11:02 am By JD Alois  |  

eToro USA will halt nearly all crypto trading activity following an agreement with the Securities and Exchange Commission (SEC). The settlement also requires eToro to pay a $1.5 million fine. eToro has agreed to the settlement without admitting or denying the allegations. Going forward, eToro… Read More

September 10, 2024 @ 10:51 am By JD Alois  |  

Popular coffee capsule company Keurig will have to pay a $1.5 million penalty as the Securities and Exchange Commission (SEC) claims it made “inaccurate statements regarding recyclability of K-Cup beverage pods.” The SEC claims that Kuerig stated in annual reports that their pods could be… Read More

September 10, 2024 @ 7:23 am By Omar Faridi  |  

In the world of law enforcement, the ability to seize cryptocurrency has become crucial, according to an extensive update from Chainalysis. As digital currencies play a significant role in criminal activities, the stakes are “higher than ever.” Chainalysis also mentioned that missing even a single… Read More

September 9, 2024 @ 3:49 pm By JD Alois  |  

The North American Securities Administrators Association (NASAA) says it has reached a settlement with GSB Gold Standard Corporation AG (GS Partners or GSB Group), a Fintech and banking firm that allegedly solicited more than 800,000 investors around the world to participate in investments including digital… Read More

September 8, 2024 @ 5:40 pm By Michael Wong  |  

Thailand’s Securities and Exchange Commission (SEC), in collaboration with the Economic Crime Suppression Division (ECD) of the Central Investigation Bureau (CIB), launched a joint operation to target unlicensed businesses soliciting investments at a Fintech exhibition in Bangkok on Saturday. The operation followed reports from the… Read More

September 5, 2024 @ 8:00 pm By JD Alois  |  

Last week, OpenSea, a popular NFT [non-fungible token] marketplace, revealed that it had received a Wells Notice from the Securities and Exchange Commission (SEC). The missive indicates a good probability of a forthcoming enforcement action against the firm. While NFTs are largely aligned with digital… Read More

September 4, 2024 @ 1:59 pm By JD Alois  |  

The Commodity Futures Trading Commission CFTC has ordered Uniswap to pay a $175,000 civil monetary penalty in regard to allowing “illegal digital asset derivatives trading.” The CFTC said the enforcement action was part of a broader strategy of targeting DeFi or decentralized finance firms. The… Read More

September 3, 2024 @ 1:49 pm By JD Alois  |  

The Securities and Exchange Commission has settled charges with Galois Capital Management LLC pertiainging to allegations for shortcomings in crypto custody. Without admitting or denying the SEC’s findings, Galois Capital consented to the entry of an order requiring it to cease and desist from further violations… Read More

September 3, 2024 @ 12:19 pm By JD Alois  |  

OpenSea, a leading NFT [non-fungible token] platform, has received a Wells Notice from the Securities and Exchange Commission (SEC). A Wells Notice indicates that the SEC is recommending that the Commission pursue enforcement action against the target firm. While not conclusive, it is highly likely… Read More

August 26, 2024 @ 4:23 pm By JD Alois  |  

Plutus Lending LLC, DBA Abra, has been charged by the Securities and Exchange Commission (SEC) with offering and selling a retail crypto asset lending product. Abra has settled the charges without admitting or denying them. Abra has consented to an injunction prohibiting it from violating the… Read More

August 20, 2024 @ 3:20 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has settled charges against Equiniti, a transfer agent, for losing clients’ money. Equiniti has paid $850,000 in a civil penalty to settle the charges. According to the SEC, Equiniti was the target of a “threat actor” who pretended to… Read More

August 19, 2024 @ 10:55 am By JD Alois  |  

Legendary investor Carl Icahn has been charged by the Securities and Exchange Commission (SEC) with failure to disclose the use of company’s securities being pledged for personal loans. The SEC states that the outstanding principal amounts of the individual loans ranged from $150 million to… Read More

August 16, 2024 @ 10:31 am By JD Alois  |  

A Canada based crypto trading platform has pilfered $13 million from its users. According to a statement issued by the British Columbia Securities Commission (BSC), the exchange in question took the money from its customers and used it for gambling. The trading platform in question… Read More

August 13, 2024 @ 10:58 am By JD Alois  |  

  Yesterday, it was reported that the Securities and Exchange Commission (SEC) had filed fraud charges against NovaTech, and its founders as well as several other executives. The SEC claims that over $650 million was pilfered in the operation, which saw early investors receive payouts… Read More

August 12, 2024 @ 10:12 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against NovaTech Ltd. and its founders, Cynthia and Eddy Petion. The charges allege a $650 million crypto fraud involving over 200,000 investors worldwide. NovaTech’s alleged pyramid scheme was registered in St. Vincent and the Grenadines. It… Read More

August 12, 2024 @ 1:56 pm By JD Alois  |  

Last week, it was reported that Ripple had paid a $125 million penalty to settle an enforcement case brought by the Securities and Exchange Commission (SEC). Ripple, the issuer of XRP, was found guilty of selling unregistered securities, but the penalty was far smaller than… Read More

August 12, 2024 @ 10:43 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed fraud charges against Ideanomics and several of its executives. All respondents have settled with the SEC. Ideanomics (OTC:IDEX) is described as “a global group with a simple mission: accelerating the commercial adoption of electric vehicles. By bringing… Read More

August 8, 2024 @ 3:56 pm By JD Alois  |  

The Commodity Futures Trading Commission is reporting that the US District Court for the Southern District of New York has entered a consent order of permanent injunction and other relief against FTX Trading and Alameda Research. The duo has been ordered to pay $12.7 billion in… Read More

August 8, 2024 @ 8:47 am By JD Alois  |  

Ripple, the issuer of XRP, has long been ensconced in a legal battle with the Securities and Exchange Commission over allegations of offering an unregistered security. However, it appears to have been let off lightly by paying a penalty of $125 million. Ripple CEO Brad… Read More