Tagged: securities and exchange commission

July 31, 2018 @ 3:18 pm By JD Alois  |  

Following the extensive report on Fintech published by the US Department of Treasury today, the Chairman of the Securities and Exchange Commission, Jay Clayton, issued a brief statement calling the document a valuable contribution to the SEC’s mission; Chairman Clayton stated; “Today, the Treasury Department… Read More

July 26, 2018 @ 5:48 pm By JD Alois  |  

Commissioner Hester Peirce has slammed the Securities and Exchange Commission’s decision to deny trading of the Winklevoss Bitcoin Trust on Bats BZX Exchange in a public statement. Peirce stated; “I am concerned that the Commission’s approach undermines investor protection by precluding greater institutionalization of the… Read More

July 25, 2018 @ 7:37 pm By Samuel Guzik  |  

  Often repeated, but not always followed, is the advice: follow the money. Sometimes basic problems – and their solutions – are more readily understood (and solved) with this simple mantra. Effective capital markets are no exception. They demand faithful adherence to this principle. Lose… Read More

July 24, 2018 @ 5:36 pm By Yoel Goldfeder  |  

When the blockchain mania began many commentators and market participants were quick to point out the revolutionary aspects of this technology and began sounding the death knell of the traditional securities industry. They claimed that there would no longer be any need for regulation or… Read More

July 12, 2018 @ 12:00 pm By Jor Law  |  

The flight to Barbados isn’t a short one.  I left home at 5am and didn’t get into Barbados until after midnight thanks to a minor delay caused by inclement weather surrounding Miami.  I heard that it’ll take roughly 35 hours for another person who’s coming… Read More

July 10, 2018 @ 11:12 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has obtained final judgments against attorney T.J. Jesky and his law firm’s business affairs manager, Mark F. DeStefano pertaining to the illegal sales of Ubi Blockchain stock. Both Jesky and DeStefano profited from sales in the stock. UBIA is a… Read More

June 28, 2018 @ 6:22 pm By Dror Futter  |  

In June 14 comments before the “Yahoo Finance All Markets Summit: Crypto,” William Hinman, Director of the SEC’s Division of Corporate Finance, stated: ETHER is not a security Decentralization and means of promotion are key to determining whether a token is a security. A digital… Read More

June 27, 2018 @ 11:22 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has issues an “Order of Suspension of Trading” for Evolution Blockchain Group, Inc. The firm was trading on OTC Link, previously labeled pink sheets.  Evolution Blockchain is a Nevada corporation trading under the ticker symbol EVBC. The SEC cited; “(1)… Read More

June 20, 2018 @ 6:20 pm By Cali Haan  |  

“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

June 20, 2018 @ 7:59 am By Cali Haan  |  

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

June 14, 2018 @ 1:10 pm By JD Alois  |  

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

June 11, 2018 @ 6:00 pm By Cali Haan  |  

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

June 8, 2018 @ 11:44 am By JD Alois  |  

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

June 5, 2018 @ 12:37 pm By JD Alois  |  

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

June 4, 2018 @ 6:51 pm By JD Alois  |  

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

June 4, 2018 @ 4:52 pm By JD Alois  |  

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

June 4, 2018 @ 7:34 am By JD Alois  |  

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

June 4, 2018 @ 6:47 am By Shaswat K. Das and Richard S. Garabedian  |  

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

May 30, 2018 @ 11:00 pm By Samuel Guzik  |  

  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

May 30, 2018 @ 5:02 pm By JD Alois  |  

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