Tagged: sec

Here is the SEC Letter by Dalia Blass, Director Division of Investment Management, Expressing Concern about Cryptocurrency Related Holdings

Bot the Securities and Exchange Commission (SEC) and the Commodities Future Trading Commission (CFTC) have been dedicating additional resources towards cryptocurrencies, such as Bitcoin, and the hot initial coin offering market. Today, the CFTC released two reports regarding enforcement actions against crypto-related fraud.  Simultaneously, the… Read More

SEC and CFTC Issue Joint Statement on Cryptocurrency Enforcement Actions

Following the announcement by the Commodity Futures Trading Commission (CFTC) that it had undertaken two enforcement actions against Bitcoin / virtual currency related fraud, the Securities and Exchange Commission (SEC) and CFTC issued a joint statement from SEC co-enforcement Directors Stephanie Avakian and Steven Peikin… Read More

The 2017 State of Regulation Crowdfunding: US Securities-based Crowdfunding under Title III of the JOBS Act

Recently, my company crafted a report for the US Securities and Exchange Commission that summarizes progress on Title III of the JOBS Act of 2012, also referred to Regulation Crowdfunding or Reg CF. This newest securities exemption was added to the options that smaller companies… Read More

Full Strength: Hester Peirce & Robert Jackson are Sworn in as SEC Commissioners

The Securities and Exchange Commission has finally filled the two vacant seats on the Commission as Hester M. Peirce and Robert J. Jackson were sworn in today by SEC Chairman Jay Clayton. Peirce and Jackson will join the other two Commissioners, Kara Stein and Michael… Read More

Punch TV Reg A+ Offer is Temporarily Suspended by SEC After Raising $3 Million

Punch TV, perhaps the first potential issuer to attempt to raise capital using updated rules under Reg A+, has had its offer suspended by the Securities and Exchange Commission (SEC). The administrative proceeding by the SEC follows an “Offer of Settlement” by Punch TV that… Read More

SEC Halts Trading of UBI Blockchain Internet Due to Business Concerns & Unusual Market Activity

The Securities and Exchange Commission (SEC) has issued a trading suspension for UBI Blockchain Internet, Ltd. The SEC said they had questions regarding the accuracy of assertions, since at least September 2017, by UBIA in filings with the SEC regarding the company’s business operations. The SEC… Read More

US Securities Regulations are in Need of a Blockchain Upgrade

Anytime I am around a securities attorney (which is quite often) inevitably the 33 Act or the 40 Act comes up in conversation. For normal people (non-attorneys) this legal speak can be confusing, riven by acronyms and stifled by dogma. Yet much of the regulatory… Read More

Hester Peirce & Robert Jackson Confirmed as SEC Commissioners

Hester Peirce and Robert Jackson were both confirmed by a Senate voice yesterday as Commissioners at the Securities and Exchange Commission. Peirce will immediately begin a term that expires in 2020. Jackson will complete the remainder of a term that expires in 2019. The confirmation… Read More

SEC Halts Trading of The Crypto Company on OTC Markets as Allegations of Share Price Manipulation Leveled by Feds

The Securities and Exchange Commission has filed an order to suspend the trading in shares of The Crypto Company (OTC Pink:CRCW). Shares in The Crypto Company had recently risen to over $640 per share. The 52 week low of shares in CRCW were $3.30 each…. Read More

Food for Thought: SEC Turns Up the Heat on Utility Token Sales

  This article is written by the authors solely in their personal capacities, and the views expressed are the authors’ own and do not necessarily reflect the views of their employer or any other person.  This article does not constitute, and should not be relied… Read More

Here is the SEC Order that Halted Munchee ICO

Today, the Securities and Exchange Division announced it had halted an Initial Coin Offering (ICO) as an unregulated securities offering. Munchee, a food review App based on Blockchain, agreed to refund all investors without accepting nor denying the allegation. The ICO was seeking $15 million… Read More

Munchee Halted: SEC Shuts Down Initial Coin Offering as an Unregistered Security

The Securities and Exchange Commission (SEC) has shut down an Initial Coin Offering (ICO) as conducting an unregistered securities offering. This is the first time the SEC has has halted an ICO where there were no allegations of fraud representing a new shift in approach… Read More

Perkins Coie Law Firm Boosts Fintech Bench with SEC Attorney Hire

Perkins Coie, a law firm that is very active in the Fintech / Blockchain space, has announced the hiring of a former SEC attorney. Michael S. Didiuk has joined the firm’s Investment Management practice group as a partner in the San Francisco office where he… Read More

SEC Emergency Action Halts PlexCoin ICO Scam. First Charges Filed by New SEC Cyber Unit

The Securities and Exchange Commission has obtained an emergency asset freeze to halt an Initial Coin Offering (ICO) scam that reportedly raised up to $15 million from thousands of investors since August. Dominic Lacroix, and his company, PlexCorps, had launched the PlexCoin ICO and falsely… Read More

SEC Blockchain Panel at Berkeley: Still Plenty of Work as Regulators Figure Things Out

This past week, Blockchain at Berkeley was the host to an ICO Financing Conference. Participating at the event were representatives from the Securities and Exchange Commission (SEC). Blockchain at Berkeley is a student run, independent organization dedicated to the crypto and distributed ledger space. The… Read More

SEC Director of Corporation Finance Says More Enforcement Actions Coming for Initial Coin Offerings

Speaking at the annual SEC Forum on Small Business Capital Formation, William Hinman, Director of Division of Corporation Finance at the SEC, said there are more enforcement actions coming when it comes to Initial Coin Offerings (ICO). Hinman, a former Silicon Valley based corporate attorney, did… Read More

Priming the ICO Pump: Don’t Get Sucked In

If you’ve been under a rock for the last year or so, you might not know that “initial coin offerings” or ICOs are the hottest thing in the financial market today. As if the fact that the overwhelming majority of ICOs aren’t regulated in any… Read More

Should there be a Remediation Program for ICOs that Did Not File the Proper Securities Exemption ?

The Securities and Exchange Commission has messaged strongly their intent to enforce the need for Initial Coin Offerings to file for the appropriate exemption.  Yes. there is the ongoing debate as to when a digital token becomes a security but fairly recently Securities and Exchange… Read More

SEC Schedules Investor Advisory Committee Meeting for December 7th

The Securities and Exchange Commission (SEC) has scheduled a meeting of the Investor Advisory Committee (IAC) for December 7th. The creation of the IAC was mandated by Dodd-Frank to advise the Commission on regulatory priorities for individual investors. In the past, the focus by the Committee… Read More

The SEC Posts Agenda & Panelists for Annual Government Business Forum on Small Business Capital Formation

The Securities and Exchange Commission (SEC) has posted the agenda and panelists for the 36th annual Government Business Forum on Small Business Capital Formation. The annual gathering has been held at the SEC HQ in Washington, DC in past years but this event will be… Read More