Tagged: securities and exchange commission

August 31, 2021 @ 3:28 pm By Tony Zerucha  |  

The Securities and Exchange Commission (SEC) today sanctioned eight firms in three actions for failures in their cybersecurity policies. The companies were also penalized for faulty procedures that resulted in email account takeovers exposing the personal information of thousands of customers and clients at each… Read More

August 31, 2021 @ 11:58 am By JD Alois  |  

The ongoing legal battle between the Securities and Exchange Commission (SEC) and Ripple and its founders continues to work its way through the halls of justice.  While the SEC continues to pursue its belief that XRP (the digital currency created by Ripple) has always been… Read More

August 30, 2021 @ 4:56 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has obtained a judgment against a California man who allegedly posted false tweets to boost the price of a security that traded on OTC Markets. According to the SEC, Andrew L. Fassari used the Twitter name @OCMillionaire to promote shares… Read More

August 25, 2021 @ 9:51 pm By Tony Zerucha  |  

The Securities and Exchange Commission (SEC) today charged Manish Lachwani, the former CEO of HeadSpin, an app testing company, with defrauding investors out of $80 million by falsely claiming the company had achieved strong and consistent growth in acquiring customers and generating revenue. The SEC’s… Read More

August 25, 2021 @ 3:58 pm By JD Alois  |  

Barbara Roper, currently the Director of Investor Protection for the Consumer Federation of America (CFA), has joined the Securities and Exchange Commission as Senior Advisor to the Chair. In a public statement, the SEC said that Roper’s focus will be on issues relating to retail investor… Read More

August 24, 2021 @ 9:15 am By JD Alois  |  

The Commodity Futures Trading Commission (CFTC) has created an infographic outlining how the agency regulates digital assets. The CFTC seeks to clarify “the fallacy of the question ‘Is it a commodity or a security’.” Posted by CFTC Commissioner Dawn D. Stump, the Commissioner says the… Read More

August 22, 2021 @ 2:21 pm By Omar Faridi  |  

Fintech Collective, a VC company that’s focused on creating the “future” of financial services by investing across traditional Fintech and emerging crypto-assets, revealed on Friday (August 20, 2021) that it has raised capital, as part of its existing early-stage strategy and for its new strategy… Read More

August 16, 2021 @ 11:48 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged HempAmericana its CEO, and six others with allegations of a penny stock fraud scheme. The SEC also charged certain of the participants with operating as unregistered dealers, and has obtained emergency relief to halt ongoing conduct. HempAmericana… Read More

August 12, 2021 @ 10:30 am By JD Alois  |  

The enforcement drums are pounding at the Securities and Exchange Commission (SEC) when it comes to digital assets. At the top of the list are trading platforms that may be skirting established securities laws, especially when the Commission believes they are enabling the buying and… Read More

August 11, 2021 @ 11:07 am By JD Alois  |  

In a recent round of correspondences launched by Senator Elizabeth Warren, a noted crypto skeptic, SEC Chairman Gary Gensler responded with a request for additional authority to regulate digital asset exchanges. Gensler said that legislative priority should center on crypto trading, lending and DeFi platforms…. Read More

August 9, 2021 @ 11:45 am By JD Alois  |  

SEC Commissioner Hester Peirce, long a supporter of Fintech innovation, has issued a statement in the wake of the enforcement action taken by the Commission against Poloniex, a crypto exchange. As was reported earlier today, Poloniex has settled the SEC’s allegations of operating an unlicensed… Read More

August 6, 2021 @ 10:03 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced charges against DeFi lender Blockchain Credit Partners alleging the offering of unregistered securities raising $30 million. This is the first DeFi case filed by the SEC. The complaint indicates that respondents have each submitted an Offer of… Read More

August 3, 2021 @ 4:27 pm By JD Alois  |  

The Chairman of the Securities and Exchange Commission, Gary Gensler, has been consistent in his comments regarding digital assets/crypto in regards to a need for more regulation. This week, Gensler addressed the Aspen Security Forum and his topic of choice was crypto and the need… Read More

August 3, 2021 @ 11:05 am By JD Alois  |  

Gary Gensler, Chairman of the Securities and Exchange Commission (SEC), has once again stated his opinion that cryptocurrency is in greater need of regulation in regards to investor protection concerns. Gensler has stated several times in the recent past his belief the crypto exchanges are… Read More

July 22, 2021 @ 11:19 am By JD Alois  |  

This past week, Securities and Exchange Commission Chairman Gary Gensler addressed the American Bar Association’s Derivatives and Futures Law Committee. Included in prepared remarks was a warning to crypto exchanges and their digital offerings. While most US-based crypto marketplaces have learned that adhering to securities… Read More

July 20, 2021 @ 7:00 pm By JD Alois  |  

  In 2018, BOX Digital Markets and tZERO entered into a joint venture that was predicted to become the world’s first regulated exchange for trading security tokens.  At the time of the announcement, it was reported that tZERO would manage the tech stack, maintenance, and… Read More

July 19, 2021 @ 10:45 am By JD Alois  |  

The Securities and Exchange Commission (SEC) says it has received a temporary restraining order and asset freeze to halt an alleged ongoing offering targeting retail investors. Reportedly, 277 individuals have committed $12 million to a firm called Profit Connect Wealth Services Inc, operated by a… Read More

July 14, 2021 @ 3:04 pm By JD Alois  |  

SEC Commissioners Elad Roisman and Hester Peirce have joined together in issuing a public statement on Blotics, a firm formerly operating as Coinschedule, and the enforcement action by the SEC that was revealed today. As was previously reported, the SEC has settled charges against the… Read More

July 9, 2021 @ 2:07 pm By JD Alois  |  

Individuals affiliated with Long Blockchain, previously operating as Long Island Iced Tea Company, have been hit with allegations of insider trading by the Securities and Exchange Commission (SEC). Once a beverage firm, during the early days of the blockchain boom the company decided to pivot… Read More

July 9, 2021 @ 9:36 am By Omar Faridi  |  

Square Inc (NYSE: SQ) will reportedly be developing a hardware wallet for Bitcoin (BTC), the payments giant revealed on Thursday (July 8, 2021). We’re doing it #Bitcoin https://t.co/IwbKuBoXGv — jack (@jack) July 8, 2021 Square’s announcement came after US Senator Elizabeth Warren cautioned about the… Read More