Tagged: sec

July 31, 2024 @ 10:31 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against the founder of BitClout, alleging securities fraud. Nader Al-Naji (aka Diamondhands) is said to have raised over $257 million in a scheme for the sale of unregistered securities – the token BTCLT. Simultaneously, criminal charges… Read More

July 30, 2024 @ 4:05 pm By Omar Faridi  |  

The US Securities and Exchange Commission (SEC) may be withdrawing its charges against third-party crypto tokens like Solana’s SOL as well as Polygon’s MATIC. These digital tokens have been part of the regulator’s lengthy case against crypto exchange Binance, Breaking: #Solana $SOL is no longer… Read More

July 29, 2024 @ 9:49 am By JD Alois  |  

Agenda – Meeting of SEC Small Business Capital Formation Advisory Committee (SBCFAC) Location: The public will be able to view on www.sec.gov Date:          Tuesday, July 30, 2024 Time:         10:00 a.m. – 1:00 p.m. (ET) 10:00  Call to Order; Introductory Remarks by Commissioners 10:15   Committee Member Observations on the State… Read More

July 19, 2024 @ 1:49 pm By JD Alois  |  

The Securities and Exchange Commission, Division of Enforcement, has issued a statement on the new Interagency Securities Council (ISC). This new entity aims to coordinate discussions on fraud and scams and share strategies to counter nefarious activities. The ISC is expected to meet quarterly. The… Read More

July 15, 2024 @ 10:23 am By JD Alois  |  

The SEC Small Business Capital Formation Advisory Committee (SBCFAC) has posted its recommendation to the Commission, taking the stance that issuers using Regulation Crowdfunding (Reg CF) should receive some relief under the current requirement to provide reviewed financials starting at an offering of $124,000. The… Read More

July 14, 2024 @ 8:04 pm By Omar Faridi  |  

Paxos, the regulated blockchain & tokenization infrastructure platform, announced that it received a formal termination notice from the US Securities and Exchange Commission (SEC) on July 9, 2024, stating that it will “not recommend enforcement action against Paxos Trust Company in the investigation of Binance… Read More

July 12, 2024 @ 12:10 pm By JD Alois  |  

The Securities and Exchange Commission, Small Business Capital Formation Advisory Committee (SBCFAC), will meet on July 30th to discuss the Small Business Investment Company (SBIC) Program. The SBIC program is managed by the US Small Business Administration (SBA). SBICs are privately owned and managed funds… Read More

July 12, 2024 @ 9:58 am By Omar Faridi  |  

Crypto exchange Coinbase (NASDAQ:COIN) and the US Securities and Exchange Commission (SEC) have been clashing with each other during the last few weeks on Coinbase’s subpoena requesting for SEC Chairman Gary Gensler’s personal communicatons and other details from a period prior to him being appointed… Read More

July 10, 2024 @ 4:55 pm By JD Alois  |  

Congressman Patrick McHenry took to the floor of the House today to criticize the actions of President Joe Biden regarding his veto of HJ Res. 109 as well as the inability of FIT21 – digital asset legislation – to become law. McHenry noted that HJ… Read More

July 10, 2024 @ 3:37 pm By JD Alois  |  

Recently, the Securities and Exchange Commission (SEC) updated its website. SEC Chairman Gary Gensler said the “changes will benefit investors, issuers, and the broader public.” “I’m pleased that these updates will improve our website’s compliance with federal standards.” While you will probably always have to hunt… Read More

July 8, 2024 @ 3:32 pm By JD Alois  |  

Multiple US Senators and House Representatives joined recently to issue an Amicus Brief challenging the Securities and Exchange Commission’s attempt to establish climate rules in regard to reporting firms. The Investor Choice Advocates Network (ICAN), a non-profit that advocates on behalf of investors and entrepreneurs, … Read More

July 4, 2024 @ 1:26 pm By Omar Faridi  |  

On Friday, June 28, 2024, Judge Amy Berman Jackson of the U.S. District Court for the District of Columbia appeared to have struck a major blow to the US Securities and Exchange Commission (SEC) Chair Gary Gensler’s “regulation-by-enforcement” campaign being carried out against secondary crypto-asset… Read More

July 4, 2024 @ 9:31 am By Omar Faridi  |  

Paul Grewal, Chief Legal Officer at Coinbase (NASDAQ:COIN), confirmed via social media that Coinbase has responded to the US Securities and Exchange Commission’s (SEC) effort to block “reasonable discovery” from SEC Chairman Gary Gensler in a case that it—not Coinbase—chose to file. Democracy, as well… Read More

July 3, 2024 @ 9:30 am By JD Alois  |  

In commenting on a rule adopted this week pertaining to Registered Index-Linked Annuities and an amended registration form to accommodate these offerings, SEC Commissioner Mark Uyeda slipped in a note about his opinion as to how crypto or digital asset offerings may be managed going… Read More

July 2, 2024 @ 7:46 am By Omar Faridi  |  

The Securities and Exchange Commission (SEC) charged Silvergate Capital Corporation, its former CEO Alan Lane, and former Chief Risk Officer (CRO) Kathleen Fraher with allegedly “misleading investors about the strength of the Bank Secrecy Act/Anti-Money Laundering (BSA/AML) compliance program and the monitoring of crypto customers,… Read More

June 30, 2024 @ 11:50 am By Omar Faridi  |  

Consensys claims that it fully expected the US Securities and Exchange Commission (SEC) to follow through on its threat to claim their MetaMask software interface must register as a securities broker. Consensys further noted via social media that the SEC has been pursuing an “anti-crypto… Read More

June 28, 2024 @ 6:11 pm By JD Alois  |  

While there are crickets at the Securities and Exchange Commission (SEC), a Commissioner at the Commodities Futures Trading Commission has welcomed the Supreme Court’s decision this week in SEC v. Jarkesy. CFTC Commissioner Caroline Pham has issued the following statement on the ruling: “As I’ve said… Read More

June 28, 2024 @ 1:35 pm By JD Alois  |  

Consensys, founded by an Ethereum co-founder, has been hit with charges by the Securities and Exchange Commission (SEC) alleging the offer and sales of unregistered securities via its Metamask staking service. Metamask offers staking of Ethereum for users to generate “rewards.” Consensys is one of… Read More

June 28, 2024 @ 10:53 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged BorrowMoney.com with allegations of fraud. The enforcement action by the SEC also cites Aldo Piscitello, who is said to be the sole officer and majority shareholder of the firm. According to the BorrowMoney website, the company claims:… Read More

June 27, 2024 @ 3:19 pm By Omar Faridi  |  

Bitcoin ETF issuer VanEck has reportedly filed an application for a Solana ETF in the United States. As noted by VanEck’s head of digital assets research, it is the first firm in the US to file for a Solana ETF. VanEck, which is notably one… Read More