Tagged: sec

Robinhood being Investigated by US Regulators over Trading Restrictions, Options Trading Policies

Robinhood Markets Inc, the leading zero-fee stock trading app provider, stated on Friday (February 26, 2021) that US regulatory authorities were investigating the firm’s temporary trading restrictions on these so-called “meme stocks” earlier in 2021. These activities have come under increased scrutiny as the shares… Read More

Robinhood Could IPO as Soon as March 2021

Robinhood Markets Inc., the digital investment and trading platform that’s largely behind or at least part of the trading frenzy in GameStop Corp.’s company shares, is reportedly planning to file confidentially for an IPO at some point next month or later, according to Bloomberg which… Read More

US SEC Suspends Trading of Iced Tea Company that Pivoted to Blockchain During Crypto Bull Market of 2017

Long Island Iced Tea Company had rebranded itself as the Long Blockchain Corp (OTC:LBCC) back in 2017, which was during the historic crypto market bull run that had briefly led to Bitcoin surging to nearly $20,000 before crashing to below $4,000 by December 2018. Long… Read More

Former SEC Chair Mary Jo White, who’s Now Representing Ripple in SEC Lawsuit, Shares Views on XRP Sale and Court Case

When the US Securities and Exchange Commission (SEC) filed a lawsuit against blockchain-focused Fintech firm Ripple Labs in December 2020, the crypto industry and larger community had reacted with alarm and many were surprised. The SEC’s lawsuit also led to Ripple hiring high-profile legal experts… Read More

SEC Charges Coinseed with Registration Violations in Regards to Digital Assets

The Securities and Exchange Commission has announced charges against Coinseed and its co-founder and CEO, Delgerdalai Davaasambuu, in connection with Coinseed’s offer and sale of digital asset securities. According to Coinseed’s website, the company offers Apps on both the Apple App Store as well as… Read More

Social Media Chatter Drives SEC to Suspend Trading in SCIE

The Securities and Exchange Commission issued a statement that it has suspended trading in SpectraScience (OTC:SCIE) that was allegedly touted on social media. SpectraScience is delinquent in its reporting and has not filed reports since 2017. The SEC states that the phone number on the… Read More

New Data Regulation to Draw on Notions of Privacy, Data Localization Another Key Trend in 2021, According to Blockchain Professional

Li Jun, Founder of Ontology and the SAGA Protocol, notes that we’re now living through an “activist period” of data regulation that will most likely dictate how our economies function for “generations to come.” Jun pointed out that most industries have “precedents” for regulation that… Read More

SEC Office of Advocate for Small Business Shows Need to Improve Exemptions, Make Access to Capital Easier

Recently, the SEC’s Office of the Advocate for Small Business Capital Formation (OASB) shared a presentation outlining the performance of securities exemptions during 2020. The presentation reviewed the utilization of Reg D, Reg A+, and Reg CF as these are the main avenues to raise… Read More

SEC Is Reviewing Social Media Posts, Agency Is Looking for Potential Fraud due to Activities tied to WallStreetBets, GameStop

The US Securities and Exchange Commission (SEC) has been carefully reviewing social media posts, as the federal regulator is looking out for any signs of potential fraud, which may have increased due to the frenzied trading of GameStop and other firms’ shares. The SEC‘s probe… Read More

SEC Acting Chair Allison Herren Lee Says Federal Regulator Will be Carefully Investigating the Reddit “Takeover” of Wall Street

NPR’s Ailsa Chang recently covered the US Securities and Exchange Commission’s (SEC) expected role in conducting an investigation into the Reddit / social media takeover of Wall Street. SEC Acting Chair Allison Herren Lee commented on the agency’s role in looking into the matter. The… Read More

SEC Charges Three Individuals with Digital Asset Fraud Regarding Start Options, Bitcoiin2Gen

The Securities and Exchange Commission (SEC) has filed charges against Kristijan Krstic, founder of Start Options and Bitcoiin2Gen, and John DeMarr, said to be the primary U.S.-based promoter for these companies, for fraudulently induced investors to buy digital asset securities. The complaint states that Krstic… Read More

Digital Asset Exchange Coinbase to Go Public through a Direct Listing Instead of Conducting an IPO

Digital asset exchange Coinbase has confirmed its plans to become a publicly-traded company “pursuant to a proposed direct listing of its Class A common stock.” Coinbase Global, Inc. noted in a blog post published on January 28, 2021, that the proposed listing is “expected to… Read More

US SEC Is Actively Looking at Stablecoins, and May Closely Examine Decentralized Finance or DeFi Platforms

The US Securities and Exchange Commission (SEC) confirmed that it will be actively looking at stablecoins which are digital assets pegged 1-to-1 with major world currencies such as the US dollar, British pound, the Euro, the Singapore dollar, among many others. Nisa Amoils, a securities… Read More

SEC Small Business Capital Formation Advisory Committee Publishes Agenda for Next Week’s Meeting

The Securities and Exchange Commission has posted the agenda for the meeting of the Small Business Capital Formation Advisory Committee. According to a release, the Committee’s morning session will feature representatives from exchanges and platforms who will share some of the trends and dynamics they… Read More

BitPay Says Fintechs Square and PayPal will Drive Bitcoin and other Cryptos to Become Globally Accepted Payment Method

The team at BitPay, a blockchain payment technology firm that allows users to accept and send Bitcoin and other cryptocurrencies, notes that even though 2020 was a “rollercoaster of a year for the world,” digital currency remains at the “forefront” of the future of finance…. Read More

Commissioner Allison Herren Lee Selected as Acting Chair of SEC

President Joe Biden has selected Commissioner Allison Herren Lee as acting Chair of the Securities and Exchange Commission (SEC). Commissioner Lee will lead the SEC until Gary Gensler is approved by the US Senate. Upon being selected, Acting Chair Lee issued the following statement: “It’s… Read More

Former CFTC Chair Gary Gensler Selected to be Chairman of the Securities and Exchange Commission, Lauded for Being Fintech Friendly

Gary Gensler, the former Commodities Futures Trading Commissioner Chair, has been selected by President-elect Joe Biden to helm the Securities and Exchange Commission (SEC). Gensler previously led the CFTC during the Obama administration. Prior to the CFTC, Gensler spent 18 years at Goldman Sachs. He is… Read More

SEC Commissioner Peirce Disagrees with Portion of Wireline Settlement Regarding SAFT

Earlier today, the Securities and Exchange Commission (SEC) posted a settlement pertaining to Wireline and a SAFT offering that took place in 2018. According to the complaint, the SEC states that: “… between January and September 2018, Wireline, an early-stage project focused on the development… Read More

After Long Wait, Updates to Crowdfunding Exemptions Publish in Federal Register with New Rules Effective in March

After a long delay, final rules approved by the Securities and Exchange Commission (SEC) have made their way over to the Federal Register. By being published in the Federal Register, the clock begins ticking as to when the new rules become available to use by… Read More

Derivatives Attorney Shares Insight into Changes at CFTC with New Administration: Increased Regulation May Hamper Innovation

The Biden Administration continues to announce new appointments as it looks to fill out the bench of federal appointees following the inauguration on January 20, 2020. For the securities and financial services industry, many questions exist as to how this leadership transaction will impact policy…. Read More

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