Tagged: sec

March 12, 2018 @ 6:36 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) slapped the wrist of Credit Karma with a $160,000 penalty. The SEC said the San Francisco-based Fintech has agreed to settle charges that it unlawfully offered securities to its employees and failed to provide them with timely financial statements… Read More

March 12, 2018 @ 12:40 pm By Anthony Zeoli  |  

Following the SEC’s recent initial subpoena offerings (pun intended) targeting initial coin offering (ICO) issuers, many believe the SEC might now turn its sights toward some of the gatekeepers involved in the subject ICOs, including the attorneys. Some attorneys practicing in the ICO space have… Read More

March 11, 2018 @ 2:33 pm By JD Alois  |  

Any US based cryptocurrency exchange is going to be compelled to become an Alternative Trading System (ATS), a regulated trading platform but not a full blown exchange. They have to do it or else. The Securities and Exchange Commission has been increasing the volume of… Read More

March 10, 2018 @ 3:02 pm By Philip Liu  |  

On March 7, 2018, the Securities and Exchange Commission (SEC) issued a public statement warning that cryptocurrency coin exchanges were possibly operating as unlawful online trading platforms¹.  The SEC staff noted that “many online trading platforms appear to investors as SEC-registered and regulated marketplaces when… Read More

March 7, 2018 @ 1:43 pm By Dixie L. Johnson, Brian R. Michael, Ehren Halse, Kyle Sheahen, and Matthew B. Hanson  |  

  For initial coin offering (ICOs or token offerings, SAFT, etc.) issuers, investors, token holders, and anyone else operating in the cryptocurrency market, the message of recent days is clear: the U.S. Securities and Exchange Commission has shifted into high gear. News reports indicate that… Read More

March 7, 2018 @ 11:28 am By JD Alois  |  

The Securities and Exchange Commission (SEC),  Divisions of Enforcement and Trading and Markets, has published a statement on “online trading platforms,” or cryptocurrency exchanges, that trade in tokens minted by initial coin offerings (ICOs) and digital assets in general. The SEC stated: “The platforms often… Read More

March 4, 2018 @ 1:26 pm By JD Alois  |  

Last week, the Securities and Exchange Commission (SEC) issued another order of trading suspension for a company, HD View 360 (OTC:HDVW) that ostensibly was in talks to “explore and implement” Blockchain technology. The SEC stated: “It appears to the Securities and Exchange Commission that there… Read More

March 1, 2018 @ 12:37 pm By JD Alois  |  

The fact the Securities and Exchange Commission has been issuing subpoenas to initial coin offering (ICOs) issuers has been rumored for quite some time. Recently, multiple publications, including Crowdfund Insider, revealed this fact. The SEC has been warning of this sort of activity for many months… Read More

February 28, 2018 @ 11:35 pm By JD Alois  |  

The environment for initial coin offerings (ICOs) in the US has changed dramatically in the past few months. In July of 2017, the Securities and Exchange Commission (SEC) issued the DAO report that identified the token offering as a security indicating at least some of the… Read More

February 28, 2018 @ 6:12 pm By JD Alois  |  

“Scores” of subpoenas are being issued by the Securities and Exchange Commission (SEC) regarding initial coin offerings (ICOs), according to a brief write up in WSJ.com. The report echos what Crowdfund Insider reported earlier this week as industry insiders have been talking about SEC investigations… Read More

February 28, 2018 @ 4:52 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against Steven J. Muehler, his wife Claudia M. Muehler, his associate Koorosh “Danny” Rahimi and and three companies under control. The SEC enforcement action alleges operating an unregistered broker dealer, facilitating unregistered securities, defrauding small businesses while promising… Read More

February 27, 2018 @ 3:03 pm By JD Alois  |  

Switzerland has become known as a center of excellence for the cryptocurrency industry. In fact, many initial coin offerings (ICO) call Zug, Switzerland home – even if they are not really based there. The Swiss regulators (FINMA) have recognized the emergence of digital currencies as… Read More

February 27, 2018 @ 10:48 am By JD Alois  |  

As we reported yesterday, Circle has acquired cryptocurrency exchange Poloniex for $400 million. Not a small sum. But Poloniex has a small issue it must address soon. It is currently operating as an un-licensed securities exchange. Additional information regarding the acquisition surfaced yesterday that indicated… Read More

February 26, 2018 @ 8:25 pm By JD Alois  |  

  Circle’s acquisition of cryptocurrency exchange Poloniex was big news today. The combination of the two platforms may create a powerful payments / money transfer / digital currency exchange with a global presence. Simultaneously, questions crocked up about Poloniex’s exchange site that is operating without… Read More

February 26, 2018 @ 11:53 am By JD Alois  |  

We have been hearing for some time now that past issuers of initial coin offerings (ICOs) have been receiving subpoenas from the Securities and Exchange Commission (SEC). This should come as no surprise to anyone as the SEC has been messaging their concern regarding ICOs… Read More

February 26, 2018 @ 9:32 am By Philip Liu  |  

Two months into 2018, it feels a little like the calm before a regulatory storm in terms of cryptocurrency regulation.  A series of pronouncements and announcements from the SEC toward the end of 2017 and beginning of 2018 gave industry insiders more clarity on what… Read More

February 21, 2018 @ 6:24 pm By JD Alois  |  

  The Securities and Exchange Commission (SEC) swooped in and filed fraud charges against a former Bitcoin-denominated platform and its founder Jon E. Montroll with operating an unregistered securities exchange and defrauding users of that exchange. The SEC added that the operator also made false and… Read More

February 16, 2018 @ 9:52 am By JD Alois  |  

The Securities and Exchange Commission (SEC) is once again taking action against companies that make specious claims regarding cryptocurrency and Blockchain involvement. The SEC has halted trading in Cherubim Interests Inc. (OTCPink:CHIT), PDX Partners Inc. (OTCPink:PDXP), and Victura Construction Group Inc. (OTCPing:VICT). The halt was… Read More

February 15, 2018 @ 10:36 am By JD Alois  |  

The law firm of Pomerantz LLP has announced that the class action lawsuit against The Crypto Company (OTCMKTS:CRCW) and certain of its officers, alleging violations of the Securities Exchange Act of 1934, has been voluntarily dismissed. The Securities and Exchange Commission (SEC) halted trading in… Read More

February 14, 2018 @ 11:38 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has scheduled its first meeting for 2018 of the Investor Advisory Committee (IAC). The Committee helps to guide the SEC on initiatives that protect individual investor interests. In practice, this largely means investor protection issues. The upcoming meeting includes… Read More