Tagged: sec

SEC Sues Daniel Pacheco, Purveyor of Alleged $26.5 Million Crypto Pyramid Scheme “IPro”

The SEC has filed a civil suit against Daniel Pacheco, 45, of San Clemente, California, alleging he pervaded a cryptocurrency-based pyramid scheme called “IPro” that collected more than $26.5 million USD from investors: “The SEC’s complaint, filed Wednesday, alleges that from January 2017 through March… Read More

Van Eck Bitcoin ETF Proposal Delayed Again as SEC Seeks Specific Feedback from the Public

The US Securities and Exchange Commission (SEC) has once again delayed Van Eck/Solid X’s application (for a rule change) to sell shares for a Bitcoin-based exchange-traded fund (ETF) on the Cboe’s BZX exchange. The request for a rule change to enable the Van Eck Bitcoin… Read More

SEC Commissioner Hester Peirce Gives Props to Bermuda and Crypto Custody Approach

Securities custody is a challenging service even for analog firms. Crypto brings with it a whole host of nuanced hurdles when providing custody for digital assets. There are a few firms that have successfully launched custody for crypto – such as PrimeTrust. Fidelity is providing… Read More

SEC Halts Diamond Related ICO, Charges Crypto Business Argyle Coin & Jose Angel Aman with Multi-Million Ponzi Scam

The Securities and Exchange Commission (SEC) has receved another emergency court order halting an alleged initial coin offering (ICO) fraud. According to the SEC, a $30 million Ponzi scheme, led by South Florida-based Argyle Coin, and its principal Jose Angel Aman, targeted over 300 US… Read More

The SEC and CFTC Join in Signing IOSCO Multilateral Memorandum of Understanding on Cross Border Enforcement

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have both signed the IOSCO Enhanced Multilateral Memorandum of Understanding Concerning Consultation and Cooperation and the Exchange of Information (EMMoU). The announcement comes following the 44th Annual International Organization of Securities Commissions… Read More

SEC Fintech Forum will Focus on Digital Assets, Some Crypto Industry Participants Have Set Low Expectations: “Just for Show”

The Securities and Exchange Commission (SEC) has scheduled a Fintech Forum to take place at the end of this month at their headquarters in Washington, DC. Blockchain and digital assets will be the main topic of discussion. But while interest in the event, which will… Read More

SEC Delays Decision on Bitwise Bitcoin ETF Proposal, Seeks Comments From Interested Parties

The US Securities and Exchange Commission (SEC) has granted itself more time to consider a request for a rule change that would allow Bitwise Asset Management to list a Bitcoin ETF product. Bitwise is a subsidiary of ICE, owners of the New York Stock exchange… Read More

SEC and OSC Take Action Against NextBlock Global and Alex Tapscott for Misleading Investors

The Securities and Exchange Commission (SEC) and the Ontario Securities Commission (OSC) have jointly taken action against Alex Tapscott and NextBlock Global Limited for misleading investors pertaining to digital asset investments. Both agencies require Tapscott-NextBlock to pay penalties affiliated with the securities offering. According to… Read More

Long Term Stock Exchange, Created by Eric Ries, Receives SEC Approval to Operate as a National Securities Exchange

On Friday, the Long Term Stock Exchange (LTSE) received good news from the Securities and Exchange Commission (SEC) as it was approved as a national securities exchange. The LTSE is the creation of Eric Ries, an entrepreneur, VC, and creator of the lean startup concept…. Read More

Like a Jackson Pollock Painting: SEC Commissioner Hester Peirce Criticizes Commission’s Approach to Digital Assets, Says it Has Stifled Growth

SEC Commissioner Hester Peirce has polished her pen once again with another thought-provoking speech addressing Fintech innovation and, more specifically, digital assets. Speaking at the Securities Enforcement Forum, East Palo Alto, California (by video), Peirce pointedly criticized the Commission for stifling the emergence of security… Read More

SEC Director of CorpFin Bill Hinman Provides Crowdfunding Update at Small Business Capital Formation Advisory Committee Meeting

Earlier this week, the inaugural meeting of the Small Business Capital Formation Advisory Committee (SBCFAC) took place at the Securities and Exchange Commission (SEC) in Washington, DC. The new Committee brings together a diverse group of small business proponents including several Fintechs. Led by Martha… Read More

Bitwise Presentation to SEC Provides Insight into BTC ETF Push as Well as Bogus Crypto Exchange Marketplace

In March, Bitwise Asset Management pitched their case regarding the creation of a Bitcoin ETF to the Securities and Exchange Commission (SEC). While providing a compelling argument as to why the SEC should move forward with their ETF, the presentation also provided some interesting insight… Read More

When Does A “Digital Asset” Qualify As A Security? A Deeper Dive Into Recent SEC Guidance.

Here’s a question for all of you. Between coins, tokens, stamps, tickets, vouchers, and chips, which of these qualifies as a “security” under U.S. Securities laws? It’s actually a trick question, they all do! Well, technically speaking, they all could potentially qualify as securities. The… Read More

Has the SEC Slammed the Brakes on Blockchain Innovation?

The Securities and Exchange Commission (SEC) has talked up their innovation cred and support of Fintech for years. Under previous Chair Mary Jo White, the SEC held the very first Fintech Forum which saw both industry participants and policymakers engage with each other in collaborative… Read More

SEC Issues Investor Alert: Cautions on Issuers that Claim SEC has “Approved Offerings” such as ICOs

We have seen this one a lot. Issuers file a Form D with the Securities and Exchange Commission (SEC) and once it pops up on Edgar (the SEC’s document database) the entity or individual claims it has been “approved” by the SEC. That’s a bunch… Read More

SEC’s Office of Advocate for Small Business Provides Additional Details on Upcoming Roundtable on May 6th

The Securities and Exchange Commission Office of the Advocate for Small Business Capital Formation has provided additional details on the upcoming Roundtable scheduled for May 6th. The Roundtable was announced yesterday and is scheduled to take place the same day as the first meeting of… Read More

SEC Orders Suspension of Trading for Bitcoin Generation, Inc

The Securities and Exchange Commission (SEC) has ordered the suspension of trading for Bitcoin Generation, Inc. The company traded under the symbol BTGN on OTC Markets Link (previously Pink). According to a profile on OTC Markets, Bitcoin Generation is an Oklahoma based company that “specializes… Read More

SEC Now Considering Applicants for “Financial Analyst, Cryptocurrencies” Position

The US Securities and Exchange Commission has been seeking submissions from among the “best and brightest” in the field to join the agency as its Financial Analyst, Cryptocurrencies in Washington, DC. The SEC’s chosen “Crypto Specialist,” as it were, will be expected to, “Develop and… Read More

SEC Announces Members of Small Business Capital Formation Advisory Committee

The Securities and Exchange Commission (SEC) has announced the new members of the Small Business Capital Formation Advisory Committee. The Committee will hold its first meeting on Monday, May 6, 2019, at the SEC’s headquarters in Washington, D.C. The Committee replaces the Advisory Committee on… Read More

SEC Shares Agenda for May 31st Fintech Forum, Blockchain to be Hot Topic of Discussion

The Securities and Exchange Commission (SEC) has posted the agenda for the upcoming Fintech Forum scheduled to take place on May 31st. The event, entitled the 2019  Fintech Forum, will take place at SEC headquarters in Washington, DC. It will simultaneously be live-streamed on the… Read More

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