Tagged: securities and exchange commission

February 12, 2020 @ 3:38 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against Michael W. Ackerman, of Sheffield Lake, Ohio, who allegedly organized a cryptocurrency trading scheme that raised approximately $33 million. The SEC said that about 150 investors including many physicians, lost money in the alleged fraud…. Read More

February 7, 2020 @ 11:56 am By JD Alois  |  

Yesterday, SEC Commissioner Hester Peirce proposed a new rule for a Safe Harbor for tokens that will not be treated as securities. As Crowdfund Insider has previously reported, the proposed Rule 195 will allow an issuer up to three years to prove the digital asset… Read More

February 7, 2020 @ 7:55 am By JD Alois  |  

Yesterday, Crowdfund Insider reported on a speech delivered by SEC Commissioner Hester Peirce that outlined a safe harbor for digital assets that may not be regulated as securities. In brief, Rule 195, proposed that a token issuer has three years for a digital asset to… Read More

February 6, 2020 @ 1:59 pm By JD Alois  |  

Today, in a speech delivered at an event in Chicago, SEC Commissioner Peirce presented a new proposal in the treatment of digital assets that may not be treated as securities perhaps representing a dramatic shift in the US token offering marketplace. In the US, pretty… Read More

February 6, 2020 @ 12:35 pm By JD Alois  |  

SEC Commissioner Peirce has proposed new rules regarding digital assets that may not be securities upon issuance. The proposal was revealed at a speech in Chicago today. As we understand it, Peirce’s proposal, Rule 195, will “set a course for compliant blockchain projects to innovate… Read More

February 6, 2020 @ 10:13 am By JD Alois  |  

This week, the SEC Small Business Capital Formation Advisory Committee met at the Commission to discuss access to capital around the country. Multiple presentations were delivered on the state of access to capital including one by the Office of the Advocate for Small Business as… Read More

January 29, 2020 @ 9:21 am By JD Alois  |  

The Securities and Exchange Commission (SEC) Small Business Capital Formation Advisory Committee has published its agenda for the forthcoming meeting taking place on February 4th. According to the SEC, the committee will explore funding gaps that impede growth opportunities for entrepreneurs and job creators. The… Read More

January 28, 2020 @ 1:54 am By Omar Faridi  |  

Zipmex, a Singapore-based crypto-asset exchange focused on offering retail and institutional investors the ability to make secure investments in cryptocurrencies, has reportedly acquired an operational license in Thailand, awarded by the Asian country’s Securities and Exchange Commission (SEC). The Zipmex crypto trading platform currently offers… Read More

January 21, 2020 @ 8:50 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has charged Sergii “Sergey” Grybniak and his company Opporty International, Inc. for an allegedly fraudulent initial coin offering. According to the SEC, Grybniak and his company raised $600,000 from around 200 investors during the sale of unregistered “digital asset… Read More

January 21, 2020 @ 8:59 am By JD Alois  |  

While investment crowdfunding rules initially were targeted at early-stage ventures in need of growth capita,l the new rules have fueled the rise of investment platforms for another asset class: real estate investment opportunities. Early-stage ventures, from seed rounds to later-stage venture rounds, tend to include… Read More

January 20, 2020 @ 10:12 am By Cali Haan  |  

In its latest submission in a case against private messaging app provider Telegram, the SEC claims that, Telegram has been using funds raised to develop the TON blockchain to rather cover operating expenses at the messaging business. Telegram raised $1.7 billion USD from 171 purchasers… Read More

January 17, 2020 @ 4:13 pm By JD Alois  |  

The Securities and Exchange Commission (SEC), Office of the Advocate for Small Business Capital Formation, has scheduled a public meeting to discuss the state of access to capital for smaller firms. The “Capital Call” is described as being held similar to a public company’s earnings… Read More

January 17, 2020 @ 11:35 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has announced another enforcement action targeting a bogus initial coin offering (ICO). According to a release, the SEC has charged convicted criminal Boaz Manor, his business associate, and two businesses, CG Blockchain Inc. and BCT Inc. SEZC, with raising… Read More

January 14, 2020 @ 1:24 pm By Anthony Zeoli  |  

While it passed somewhat under the radar with the holiday season, on December 18, 2019, the Securities and Exchange Commission (“SEC”) released a proposal to significantly amend the existing “accredited investor” definition; which is integral in determining who can participate in private securities transactions. The… Read More

January 12, 2020 @ 8:43 am By Cali Haan  |  

The US Securities and Exchange Commission (SEC) is seeking a default judgment against Nikolay Evdokimov and his Cayman Islands firm ICOBox. The agency is also seeking permanent enjoinment of Evdokimov and ICOBox, a $16,059,428.99 disgorgement and a civil penalty against Evdokimov of about $190 000… Read More

January 11, 2020 @ 7:47 am By Cali Haan  |  

In the SEC’s January 2nd letter requesting compulsion of bank records from private messaging app provider Telegram, the regulator claimed it had documents showing that Telegram, “paid commissions to purchasers who were buying Grams to resell to other investors…” Brokered sales, the SEC wrote, “render… Read More

January 10, 2020 @ 7:42 pm By Cali Haan  |  

A judge presiding over case involving the SEC and private messaging company Telegram has ruled that the SEC can ask deposed executives questions about how they have been disposing of $1.7 billion USD raised in 2018 to fund construction of the Telegram blockchain. The SEC… Read More

January 7, 2020 @ 4:03 pm By JD Alois  |  

Telegram, issuer of one of the highest-profile token offerings of all time that raised $1.7 billion, is in the midst of a protracted legal battle with the Securities and Exchange Commission (SEC). Last October, the SEC filed an emergency action and obtained a temporary restraining… Read More

January 7, 2020 @ 3:16 pm By Cali Haan  |  

The judge presiding over an SEC case alleging Telegram sold unlicensed securities has denied the SEC’s request for immediate disclosure of bank records relating to Telegram’s $1.7 billion sale of GRAM cryptographic tokens. Instead, Judge P. Kevin Castel has ordered the private messaging company to, “set… Read More

January 6, 2020 @ 6:11 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) is on the cusp of a significant update to the definition of an accredited investor (AI). Depending on the final rules, the Commission could broadly expand access to private securities offerings – a sector of the capital markets that… Read More