Tagged: sec

The SEC Publishes Report on Reg CF: “The number of crowdfunding offerings as well as the total amount of funding during the considered period was relatively modest”

The Securities and Exchange Commission (SEC) has published a statutory report on Regulation Crowdfunding commonly referenced as Reg CF. The mandated report must be forwarded to Congress three years after Reg CF rules became effective (May 2016). Reg CF is the smallest of three federal… Read More

The Securities and Exchange Commission Asks for Feedback on Ways to Harmonize Securities Exemptions

The Securities and Exchange Commission is seeking comments on the current securities exemption structure. In a release yesterday, the SEC asked the public to provide feedback on “ways to simplify, harmonize, and improve the exempt offering framework to expand investment opportunities while maintaining appropriate investor… Read More

Crypto Expert Stephen McKeon Comments on Kik’s ICO Battle with the Security and Exchange Commission

It has been widely known that Kik was engaged in a cage match with the Securities and Exchange Commission (SEC) ever since Kik went public regarding a Wells Notice submitted by the SEC. A Wells Notice informs an entity they may be the target of… Read More

SEC Hits Blockchain Company Longfin with Additional Fraud Charges Related to Reg A+ Offering, Longfin CEO Hit with Criminal Charges

The Securities and Exchange Commission (SEC) has added new fraud charges against Longfin Corp. and its CEO for falsifying the company’s revenue. Longfin’s former consultant Andy Altahawi was also included in the action for “fraudulently securing the company’s listing on Nasdaq.” In April of 2018,… Read More

Coinbase, Circle Disappear from DefendCrypto List of Supporters

In the wake of the Security and Exchange Commission’s (SEC) enforcement action against Kik and the Kin initial coin offering (ICO), it appears that Coinbase’s name, as well as Circle’s, has been scrubbed from the list of supporters on the DefendCrypto website. DefendCrypto was concocted… Read More

Alternative & Direct Investment Securities Association Applauds Regulation Best Interest

Alternative & Direct Investment Securities Association (ADISA), a trade association for the retail alternative investment space, has commented on the Securities & Exchange Commission’s (SEC) vote to approve the final version of Regulation Best Interest. Under Regulation Best Interest, broker-dealers will be required to act… Read More

Kik is the First Major ICO SEC Enforcement Action: “The First Shoe Has Finally Dropped.”

Kik’s Hail Mary Pass. As Crowdfund Insider reported earlier today, the Securities and Exchange Commission (SEC) has publicly revealed the allegations against Kik and the issuance of the Kin tokens. In 2017, Kik completed an initial coin offering (ICO) that raised a whopping $100 million… Read More

SEC Goes Public with Kik – Kin ICO Lawsuit Alleging Sale of Unregistered Securities

The Securities and Exchange Commission (SEC) has publicly announced its lawsuit against Kik Interactive for conducting an illegal $100 million securities offering of “Kin” digital tokens in an initial coin offering (ICO). The legal action should come as no surprise to industry followers as Kik… Read More

Heard on F Street: SEC Fintech Forum Engages with Crypto Industry to Discuss Digital Asset Regulation

Last Friday, the Securities and Exchange Commission (SEC) held its first Fintech Forum in years. The topic of discussion was the regulation of digital assets and distributed ledger technology (DLT). The interaction between presenters and SEC staff provided a glimpse into the progress and struggle… Read More

SEC’s FinHub is Available for Local “Peer to Peer” Meetings

The Securities and Exchange Commission’s (SEC) strategic Fintech group known as FinHub has scheduled several open office hours for regional offices. SEC staff seeks to engage with Fintech communities across the US and expectations are for these “peer to peer” meetings to take place on… Read More

Boston Security Token Exchange: tZero Partner BOX Exchange Files Proposed Rule Change as it Pushes to Trade Digital Assets

Last week, the BOX Exchange filed a proposed rule change with the Securities and Exchange Commission (SEC). BOX has partnered with tZero to trade digital assets, or security tokens, in a new entity called the Boston Security Token Exchange (BSTX). The filing is over 400… Read More

Fintech Forum: SEC Director of Corporate Finance Says it is Possible for a Token to Trade and NOT be a Security

“We have a crypto family at the SEC.” Yesterday, the Security and Exchange Commission (SEC) held its first Fintech Forum in quite some time with the event focusing specifically on distributed ledger technology (DLT or blockchain) and digital assets. The new tech has challenged the… Read More

When Howey, the SEC & CorpFin Met Bourbon

Some time ago, I started a small collection of interesting bourbons. A trip to Frankfurt, Kentucky, and a visit to Buffalo Trace, helped to seal my interest. During the trip, I purchased several bottles of 20-year-old Pappy Van Winkel, which I consumed at my leisure… Read More

Kik Battle Line: DefendCrypto Fund Seeks to Challenge the SEC & Current Regulatory Approach with Crypto

Kik Interactive Inc., a company based in Canada, raised about $100 million selling Kin tokens in an initial coin offering (ICO) during the midst of the hot crypto issuance market in 2017. First sold to accredited investors in a SAFT, once the platform was functional,… Read More

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

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