Tagged: sec

37th Annual SEC Government-Business Forum On Small Business Capital Formation – Columbus

The SEC and the National Center for the Middle Market at The Ohio State University Max M. Fisher College of Business will host the SEC’s annual Government-Business Forum on Small Business Capital Formation. This annual forum provides a platform to highlight additional measures to improve… Read More

SEC Enforcement Co-Director Emphasizes Importance of International Cooperation to Combat ICO Fraud

Steven Peikin, Co-Director of the SEC’s Division of  Enforcement, told an audience at Harvard Law School this week that, given the increasingly cross-border nature of ICO and securities fundraising, “Collaboration with international regulators and law enforcement is critical to the SEC’s civil law enforcement success.”… Read More

SEC Shuts Down Unregistered CoinAlpha Crypto Fund

The SEC has settled with CoinAlpha Advisors LLC, a Delaware-registered, California-based company the Commission says sold a cryptocurrency investment fund product without registering with the SEC or qualifying for a securities exemption. According to the cease-and-desist order issued Friday, December 7th, CoinAlpha Advisors formed in… Read More

SEC Delays VanEck Bitcoin ETF Decision until February

The US Securities and Exchange Commission (SEC) has granted itself an additional 60 days to consider allowing a rule change that would permit the Cboe BZX exchange and VanEck to list a “SolidX Bitcoin ETF” stock. In so doing, the commission will take the full… Read More

SEC Publishes Agenda for Upcoming Government-Business Forum on Small Business Capital Formation

The Securities and Exchange Commission (SEC) has just published the agenda for the 2018 Government-Business Forum on Small Business Capital Formation. An annual event, this year’s Forum will take place in the Heartland of Ohio hosted by Ohio State University, Max M. Fisher College of… Read More

A Big November for the SEC’s Regulation of Crypto: What Does It Mean?

November was a busy month for the SEC’s burgeoning regulation of digital assets. In the first action of its kind, the Commission brought enforcement proceedings against the founder of digital asset trading platform EtherDelta for operating as an unregistered securities “exchange.” Ten days later, the… Read More

StartEngine Updates on Reg D Offering in New SEC Filing

StartEngine, one of the leading investment crowdfunding platforms in the US, has filed a Form D with the Securities and Exchange Commission (SEC). As CI reported last month, StartEngine commenced a Reg D offering while their Security Token Offering (STO) under Reg A+ remains in… Read More

AriseBank CEO Indicted in Texas for Cryptocurrency Fraud, Faces Possible Prison Sentence

Jared Rice Sr, the man behind AriseBank and the associated cryptocurrency/token, AriseCoin, has been indicted in the Northern District of Texas and, if convicted, faces a possible prison sentence of 120 years. Rice Sr was arrested by the FBI Wednesday and is charged with 3… Read More

SEC Chair Jay Clayton: No Need to Adjust Securities Laws to Suit Cryptocurrencies

The Chairperson of the SEC, Jay Clayton, spoke about the regulation of cryptocurrencies Thursday evening with reporter and author Andrew Ross Sorkin at a “Times Talk” hosted by The New York Times. Sorkin began by stating that Clayton may have “the swing vote” regarding the… Read More

Boxer Floyd Mayweather, Jr. and DJ Khaled Settle Charges with SEC Regarding ICO Promotions

The Securities and Exchange Commission (SEC) has settled charges against two high-profile initial coin offering (ICO) promoters.  Music producer DJ Khaled and boxer Floyd Mayweather Jr. were cited for failing to disclose they were remunerated for promoting ICOs via their social media channels. The SEC… Read More

Templum Comments on SEC ICO Enforcement Action: “We are Likely to See Continued Enforcement Actions & Litigation”

On November 16th, the Securities and Exchange Commission (SEC) announced its first enforcement actions against initial coin offerings (ICOs) that did not file for an appropriate securities exemption following the SEC’s DAO report. The SEC settled claims with both Paragon and AirFox with each ICO issuer… Read More

Case Against Airfox and Paragon Initial Coin Offerings Makes Abundantly Clear SEC’s Approach to Post DAO ICOs

Last Friday, the SEC settled charges against two companies, CarrierEQ Inc. dba Airfox (“Airfox”) and Paragon Coin Inc. (“Paragon”), which raised money with initial coin offerings (“ICOs”).  The SEC found that both companies violated the registration provisions of the U.S. securities laws because neither company… Read More

Bakkt Delays Launch of Bitcoin Futures Market

The CEO of Bakkt, Kelly Loeffler, has written in a blog post that her company, Bakkt, is delaying the much-anticipated release of its daily Bitcoin futures product and crypto custodial warehouse until January 24th, 2019, “…subject to regulatory approval.” “We’ll continue to update you on our progress… Read More

Reading the Tea Leaves: Doug Ellenoff Shares Opinion on SEC Enforcement Action Against Two Post DAO Report ICO Issuers

Last week, the Securities and Exchange Commission (SEC) announced enforcement actions against two initial coin offerings (ICOs): Paragon (Paragon Coin Inc.) and AirFox (CarrierEQ Inc. dba Airfox). As the SEC recounted in their Administrative filing: Airfox: “Between August and October 2017, AirFox offered and then… Read More

Following Settlement with the SEC, Paragon Claims it is “Making History” Calls SEC Enforcement Action a Positive Agreement

Cannabis focused blockchain startup Paragon (Paragon Coin) has issued a press release following the Securities and Exchange Commission’s (SEC) announcement last week that Paragon had settled with the SEC regarding charges of issuing an unregistered security. Paragon was one of two ICOs that were deemed… Read More

SEC Issues Statement on Digital Asset Issuance & Trading Following ICO Enforcement Action

The Securities and Exchange Commission (SEC) issued a rare statement on the issuance of digital assets that are securities. The statement comes following the release of two initial coin offering (ICO) enforcement actions for issuers that raised money after the SEC published the landmark DAO… Read More

Republic’s GC Comments on SEC Enforcement Action Against Two ICOs: “Industry Participants Should Study this Settlement Closely”

Earlier today, CI reported on the first enforcement actions taken by the Securities and Exchange Commission (SEC) pertaining to post-DAO initial coin offerings (ICOs). The case is precedent setting and sets a clear path for enforcement officials to proceed with other ICO issuers who raised… Read More

RECoin and Diamond Reserve Coin ICO Issuer Pleads Guilty to Fraud

The first person to be prosecuted in the US for ICO (initial coin offering) fraud has pleaded guilty to misleading 1000 investors, Bloomberg reports. On Thursday, Maksim Zaslavskiy, 39, admitted in a Brooklyn federal courtroom that he collected money for two ICOs: RECoin and Diamond… Read More

First Two Sanctioned ICO Issuers Settle with SEC: Will Refund Investors, Register as Securities and Pay Fines [u]

This has been a big week for digital asset / ICO law in America. Yesterday, Maksim Zaslavskiy pleaded guilty to fraud in a federal court in Brooklyn for selling the digital tokens RECoin and Diamond Reserve Coin, tokens he falsely claimed were backed by real-world… Read More

Thailand to Approve First ICO Portal this Month, Others to Follow

The Thailand Securities and Exchange Commission (SEC) is expected to approve the first initial coin offering (ICO) portal at some point this month, according to a report in the Bangkok Post. The approval follows a royal decree from last May that stipulated that the Thai… Read More

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