Tagged: sec

May 8, 2018 @ 12:34 pm By JD Alois  |  

“The regulator should be careful not to try to control the development of new technologies.” – Hester Peirce, SEC Commissioner SEC Commissioner Hester Peirce delivered a fascinating speech in LA today, addressing the challenges of innovation in the financial services sector while providing insight into… Read More

May 4, 2018 @ 1:24 pm By JD Alois  |  

Commodity Futures and Trading Commission (CFTC) Commissioner Brian Quintenz commented on cryptocurrency enforcement actions this week. During a speech delivered to the FIA’s 40th Annual Law and Compliance Conference, Quintenz noted that the CFTC Crypto task force is coordinating with their counterparts at the Securities… Read More

May 3, 2018 @ 9:58 am By JD Alois  |  

Earlier this week the Securities and Exchange Commission (SEC) Office of Small Business Policy held a Twitter chat on Tuesday entitled #SECcrowdfundchat. The lightly attended discussion was scheduled to help inform small businesses as to how they may legally raise growth capital. In the US today,… Read More

May 2, 2018 @ 11:00 am By Dror Futter  |  

The US initial coin offering (ICO) market is the subject of a great deal of regulatory uncertainty resulting, in large part, from the absence of comprehensive guidance by the SEC.   The uncertainty has caused frustration for issuers and investors and has also been counter-productive… Read More

May 2, 2018 @ 10:50 am By JD Alois  |  

According to a WSJ report, regulators are engaged in a debate as to whether Ether and other cryptocurrencies are in fact securities. While Bitcoin has been more clearly defined as a commodity, the rest broader universe of cryptocurrencies remain in limbo. The advent of Ethereum… Read More

April 24, 2018 @ 8:21 am By JD Alois  |  

Longfin Corp. (NASDAQ:LFIN), is reporting that Judge Denise L. Cote has vacated the Temporary Restraining Order (TRO) that froze the assets of the company. The Securities and Exchange Commission (SEC) obtained a court order freezing more than $27 million in trading proceeds from allegedly illegal… Read More

April 23, 2018 @ 4:18 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has issued another trading suspension regarding a company associated with cryptocurrency services. IBITX Software is a company that claims to operate IBITX as a “Dynamic new type of currency exchange which matches new Initial Currency Offerings (ICOs)” IBITX says it is “one… Read More

April 20, 2018 @ 2:15 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has released additional fraud charges affiliated with the Centra Tech $32 million initial coin offering (ICO) that raised money in 2017. Ealier this month, the SEC filed a complaint against Centra Tech, Sohrab “Sam” Sharma and Robert Farkas regarding… Read More

April 18, 2018 @ 5:58 pm By JD Alois  |  

Joe Cammarata, President of tZero, was visiting with Security Token Academy last week when he made an interesting comment. Cammarata said he was scheduled to meet with the Securities and Exchange Commission in Washington, DC this week to discuss regulation of tokenized securities. The transcript is… Read More

April 15, 2018 @ 2:20 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has scheduled a roundtable to discuss thinly-traded exchange-listed securities, both equities and exchange-traded products. The roundtable will take place on April 23 at the SEC’s headquarters at 100 F Street, NE in DC. The roundtable is open to the public and… Read More

April 8, 2018 @ 9:21 pm By JD Alois  |  

The 36 Annual SEC Small Government Business Forum on Small Business Capital Formation took place last November in Austin, Texas. This past week, the SEC published the final report which includes the list of recommendations as prioritized by the participants in this yearly gathering between… Read More

April 7, 2018 @ 7:27 pm By JD Alois  |  

Longfin Corp. (NASDAQ:LFIN) was hit with a formal request by NASDAQ to provide additional information regarding recent trading activity. The shares were placed on a T12 trading halt on Friday as the Securities and Exchange Commission (SEC) filed a formal complaint against Longfin that included… Read More

April 6, 2018 @ 3:56 am By JD Alois  |  

The Securities and Exchange Commission filed an “Order Instituting Proceedings” to determine if they should approve the listing of shares of the GraniteShares Bitcoin ETF and the GraniteShares Short Bitcoin ETF on the CBOE BZX Exchange. This is similar to a process that was initiated last… Read More

April 3, 2018 @ 1:06 pm By JD Alois  |  

So what is it with boxers and bogus initial coin offerings? The Securities and Exchange Commission (SEC) has filed a complaint alleging securities fraud with another ICO. This time it is Centra Tech, the creation of Sohrab “Sam” Sharma and Robert Farkas. The ICO reportedly… Read More

April 3, 2018 @ 5:40 am By JD Alois  |  

The SEC has charged the founder of Mozido, Michael Liberty, as operating a Fintech scam. Liberty, along with his accomplices, allegedly stole the bulk of $48 million they raised. The money was apparently used to fund a posh lifestyle that included private jet flights, mansions,… Read More

April 2, 2018 @ 6:00 am By Andy Bromberg, Georgia Quinn & Regan Bozman  |  

  To date, fundraising has been blockchain’s killer app. In 2017, Initial Coin Offering (ICO) fundraising eclipsed that of traditional venture capital, and in 2018, ICOs have already raised nearly $3 billion in non-dilutive funding. This new form of early-stage financing is incredibly promising, at… Read More

April 1, 2018 @ 8:40 am By JD Alois  |  

CBOE Global Markets, operator of the Chicago Board Options Exchange – the largest U.S. options exchange, has sent a letter to the Securities and Exchange Commission (SEC) encouraging the regulator to move forward with cryptocurrency based Exchange Traded Funds (ETFs) or Exchange Traded Products (ETPs). CBOE… Read More

March 29, 2018 @ 8:05 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has posted an update regarding the ongoing case against AriseBank and their initial coin offering which has been deemed a scam by the regulator. This same ICO was pumped by famous boxer Evander Holyfield. In fact, a press release was issued… Read More

March 26, 2018 @ 2:33 pm By Anthony Zeoli  |  

Investment in the cryptocurrency industry is currently dominated by the use of Simple Agreements for Future Tokens (SAFTs). While SAFTs were a somewhat novel approach when they were introduced, now that cryptocurrency assets have become almost universally deemed “securities” by the SEC, the use of… Read More

March 19, 2018 @ 3:22 pm By JD Alois  |  

HD View 360 Inc (OTC:HDVW), another company that issued a press-release mentioning Blockchain only to see trading in their shares suspended, has been hit with an enforcement action by the Securities and Exchange Commission along with a related criminal prosecution. The SEC first issued an… Read More