Tagged: securities and exchange commission

Antonopoulos Calls Ether: “The Most Credible Utility Token out There”- Lawyer Bristles

“I don’t really see Ethereum’s pre-sale being an ICO.” And thus begins one of the latest videos posted by widely-respected cryptocurrency commentator, writer and technologist Andreas Antonopoulos on his YouTube site. Ether was issued as a genuine utility token, Antonopoulos believes,  and not as a… Read More

Cboe President Warns of Regulatory Danger Hanging Over Issuers and Holders of ICOs

The president of the Chicago Board Options Exchange (Cboe), the first US company to sell futures contracts on Bitcoin, has warned that “two waves of reckoning” will come down on issuers and then holders of ICOs (initial coin offerings) in the US, Business Insider reports…. Read More

SEC Director of CorpFin William Hinman Tells Conference Whether an ICO May Start Life as a Security and Transform Later into Something Else (but Ethereum is not a Security)

Ethereum Not a Security Speaking at the Yahoo Finance conference in San Francisco today, Securities and Exchange Commission (SEC) Director of Corporate Finance William Hinman tackled the topic of morphing initial coin offerings (ICOs) and whether an ICO could start life as a security and… Read More

SEC Trading and Markets Director: Self-Reporting by ICOs “Underwhelming”-Decision Coming

Brett Redfearn, the Director of the Division of Trading and Markets at the SEC has criticized crypto producers and exchanges for failing to voluntarily register and report their activities to the SEC. “We’re underwhelmed by the enthusiasm for coming within the regulatory structure right now,”… Read More

Here is the Preliminary Injuction filed by the SEC Against Titanium Blockchain and their ICO

Yesterday, the Securities and Exchange Commission, Division of Enforcement, posted an update on the Titanium Blockchain enforcement action that reviewed the preliminary injunction filed against the firm. A quick review of the update indicated little new pertaining to the SEC’s move to shut down the… Read More

Ripple Hires Big Guns: Former SEC Chair Mary Jo White and Former SEC Enforcement Director Andrew Ceresney to Defend Unregistered Securities Claim in Sale of XRP

How times have changed. Ripple Labs, creators of the third largest cryptocurrency (CRP) by market cap following only Bitcoin and Ethereum, have hired two well known big legal guns to defend their case in the California Courts. Ripple has hired former SEC Chair Mary Jo… Read More

The SEC Appoints Valerie A. Szczepanik as Senior Advisor for Digital Assets in Newly Created Position

The Securities and Exchange Commission (SEC) has appointed Valerie A. Szczepanik as the Associate Director of the Division of Corporation Finance and Senior Advisor for Digital Assets and Innovation. This is a newly created position and highlights the growing recognition by the Commission that digital… Read More

SEC Chair Jay Clayton & CFTC Chair J. Christopher Giancarlo to Testify Before Senate Committee On Appropriations Subcommittee on Budget Requests

CFTC Chair J. Christopher Giancarlo and SEC Chair Jay Clayton will be visiting Capitol Hill together once again to testify before a Senate Subcommittee. This time, Clayton and Giancarlo will be testifying before the Senate Committee On Appropriations Subcommittee on Budget Requests, tomorrow (June 5, 2018)… Read More

Elad Roisman Nominated by President Trump to Fill Commissioner Vacancy at SEC

Current Senate staffer Elad Roisman has been selected to fill the vacancy as a Commissioner at the Securities and Exchange Commission. President Trump nominated Roisman last Friday to replace Commissioner Michael Piwowar who announced earlier this year he will be departing the SEC this summer…. Read More

AML and Sanctions Compliance Issues Facing Cryptocurrency Companies

Over the past few years, continued advancements in the payments industry and financial services technology have significantly expanded the way money financial transactions are processed and managed.  Banks and payment and technology firms are accelerating efforts to innovate and adapt financial services alternatives to meet… Read More

SEC Regulation A+, ICOs and Small Business Capital Formation: For Whom the Bells Toll?

  If the Wall Street Journal is any indicator, so called Regulation A+ offerings, which sprung to life in June 2015, courtesy of Title IV of the Jumpstart Our Business Startups Act of 2012 (the JOBS Act) and SEC rulemaking,  are (or should be) all… Read More

SEC Investor Advisory Committee Joins Full Commission in Atlanta for “Townhall” that Includes Discussion on Fintech, Breakout on Crypto

The Securities and Exchange Commission Investor Advisory Committee (IAC) is holding its next meeting in Atlanta on June 13th. The meeting will coincide with an “Investor Town Hall” coordinated by the SEC Atlanta Office. While the IAC agenda appears to be fairly routine (see below),… Read More

Titanium Blockchain Issues Official Statement Following SEC Enforcement Action

Titanium Blockchain (TBIS), founded by Michael Alan Stollery, aka Michael Stollaire, has issued an official statement regarding the enforcement action by the Securities and Exchange Commission (SEC) which froze all of the TBIS assets in a court ordered emergency action. TBIS raised approximately $21 million in… Read More

House Financial Services Subcommittee: Representative Sherman Tells SEC to Shut All ICOs Down, Representative Emmer Sees “Real Opportunity” with Crypto

Last week, while New York City saw thousands of cryptocurrency enthusiasts discuss the benefits of digital assets and blockchain, a House Financial Services subcommittee reviewed initial coin offerings with the leaders of the Securities and Exchange Commission (SEC) Enforcement Division. The Congressional Hearing provided a… Read More

SEC Again Urges ICO Issuers to Make Contact About Compliance

U.S. Securities and Exchange Commission Chairperson Jay Clayton told an audience in Washington Tuesday that companies seeking to raise funds via digital tokens in an Initial Coin Offering should be proactive in contacting the agency regarding compliance, Law360 reports. “We’re open for business,” said Clayton…. Read More

SEC Chair Jay Clayton Applauds State’s Operation CryptoSweep Action Against Bogus ICOs

Securities and Exchange Commission (SECO Chairman Jay Clayton has issued a comment on Operation Cryptosweep – a coordinated enforcement action launched by state and provincial regulators attacking fraudulent initial coin offerings. Clayton said the North American Securities Administrators Association members (NASAA) play an important role… Read More

Hester Peirce Advocates for Thoughtful Regulation in Powerful LA Speech

Earlier this month Hester Peirce, a commissioner of the SEC, delivered a powerful speech in LA that bodes well for the future of cryptocurrency regulation. She addressed the challenges she faces as a regulator of the financial sector, and shared her own philosophy regarding initial… Read More

SEC Office of Investor Education Creates Mock Initial Coin Offering “HoweyCoins.com”

The Securities and Exchange Commission (SEC) Office of Investor Education and Advocacy has created a bogus website to highlight the scam riddled initial coin offering (ICO) industry. The mock site, HoweyCoins.com, touts a “too good to be true” investment opportunity seeking to mimic a fraudulent… Read More

US Regulators on Consensus Panel Claim Their Doors Open and Rules Clear Regarding ICOs (Initial Coin Offerings)

Representatives from the three bodies policing securities in the US and the Chief Strategy Officer from the Bittrex cryptocurrency exchange spoke on an “Enforcement” panel May 15 at the Consensus conference in New York. Citing an “open door” policy, the regulators- James McDonald, Director of… Read More

John Berlau to SEC Commissioner Jackson: Companies Going Private and Delisting to Escape Regulatory Costs Have Contributed to a Massive Decline in the Total Number of Public Companies

Towards the end of April, SEC Commissioner Robert J. Jackson Jr. delivered a heartfelt speech in Cleveland about the decline of initial public offerings (IPOs) in the US. While there has been much debate regarding the cause of this decline (with some questioning whether it even… Read More