Tagged: securities and exchange commission

August 29, 2023 @ 5:26 pm By JD Alois  |  

Yesterday, Grayscale received a solid legal victory in its attempt to offer a Bitcoin ETF. A federal court deemed the Securities and Exchange Commission’s decision to block the launch of the exchange-traded product as “capricious”. Grayscale is currently reviewing its options and the SEC has… Read More

August 29, 2023 @ 4:25 pm By JD Alois  |  

SEC Commissioners Hester Peirce and Mark Uyeda have joined to issue a statement on the enforcement action taken by the Commission against NFT issuer Impact Theory. Yesterday, the SEC revealed its first enforcement action against an NFT issuer, with the firm settling the allegations without… Read More

August 28, 2023 @ 12:31 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against Impact Theory and the issuance of an NFT or non-fungible token that was deemed to be an unregistered offering of crypto asset securities. This is the first NFT offering that the SEC has targeted for… Read More

August 21, 2023 @ 11:36 am By JD Alois  |  

The SEC has charged Titan Global Capital Management, described as a “Fintech investment advisor,” with touting hypothetical performance that was misleading. Titan has settled the allegations without admitting or denying the SEC’s claims. The firm has paid a small penalty of $192,454 in disgorgement as… Read More

August 13, 2023 @ 2:03 pm By Omar Faridi  |  

The US Securities and Exchange Commissin (SEC) has postponed its decision regarding Cathie Wood‘s spot Bitcoin ETF application. The US SEC recently confirmed that it will be delaying its decision on whether to greenlight the Cathie Wood-backed Ark Investment Management’s (ARK) spot bitcoin Exchange-Traded Fund…. Read More

August 10, 2023 @ 1:15 pm By JD Alois  |  

This past March, Tron, BitTorrent, Rainberry, and founder Justin Sun were the target of enforcement action by the Securities and Exchange Commission (SEC) alleging the offer and sale of unregistered “crypto-asset securities,” including Tronix (TRX) and BitTorrent (BTT). Several “celebrity” promotions were entwined in the… Read More

August 5, 2023 @ 2:01 pm By Omar Faridi  |  

Coinbase Global (NASDAQ:COIN) on Friday (August 4, 2023) reportedly requested a judge to end the US Securities and Exchange Commission’s (SEC) ongoing lawsuit that’s accusing the world’s biggest publicly-listed crypto exchange of violating applicable federal securities laws. As mentioned in a filing in federal court… Read More

August 2, 2023 @ 9:07 am By Omar Faridi  |  

Brad Garlinghouse, CEO at Ripple, says that they began sharing detailed reports to voluntarily provide updates of their XRP holdings. Sadly, however, they were used against them in the US Securities and Exchange Commission SEC lawsuit – however, he added that they remain steadfast in… Read More

July 31, 2023 @ 10:50 am By Omar Faridi  |  

The US Securities and Exchange Commission (SEC) had reportedly requested Coinbase (NASDAQ:COIN) to halt trading in all virtual currencies with the exception of Bitcoin (BTC) prior to filing a lawsuit against the crypto exchange in June of this year, the Financial Times revealed on Monday… Read More

July 28, 2023 @ 11:38 am By JD Alois  |  

The Securities and Exchange Commission (SEC), Chief Accountant – Paul Munter, has posted a statement on “potential pitfalls of purported crypto assurance work. Munter states that in light of the many scandals of fraud in the cryptosphere, claims by platforms that they retain 3rd party… Read More

July 28, 2023 @ 10:25 am By Omar Faridi  |  

Craig Salm, Chief Legal Officer at Grayscale, notes that as we all await a decision from the DC Circuit in their lawsuit to convert GBTC to a spot bitcoin ETF, the firm’s legal team at Davis Polk submitted a comment letter “to GBTC’s pending 19b-4… Read More

July 24, 2023 @ 7:57 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has scheduled an open meeting for later this week. On Wednesday, the Commission will consider new rules for several items. According to the agenda, the Commission will consider. Cybersecurity Risk Management, Strategy, Governance, and Incident Disclosure – Division of… Read More

July 20, 2023 @ 1:37 pm By Omar Faridi  |  

Fintech firm Ripple considers the recent court ruling (in the case Ripple v. US Securities and Exchange Commission (SEC) ) to be a “landmark victory” for the company and the entire crypto industry. As noted in a blog post, the recent ruling finds that XRP… Read More

July 18, 2023 @ 10:13 pm By Omar Faridi  |  

On July 13, 2023, the crypto and blockchain industry got “good news” when Judge Analisa Torres of the U.S. District Court for the Southern District of New York ruled that Ripple did “not violate securities law in selling its token (XRP) via public exchanges,” the… Read More

July 18, 2023 @ 9:07 am By Omar Faridi  |  

Coin Metrics has taken a data-driven look at digital asset markets after a milestone ruling in the US Securities and Exchange Commission (SEC) v. Ripple Kyle Waters and Matias Andrade Cabieses from Coin Metrics noted in a detailed report that we’ve witnessed a significant development… Read More

July 17, 2023 @ 9:38 am By JD Alois  |  

John Berlau, a policy expert in financial services at the Competitive Enterprise Institute (CEI), has shared his thoughts on the recent court ruling regarding the legal battle between the Securities and Exchange Commission (SEC) and Ripple along with its founders. Berlau notes that XRP was… Read More

July 15, 2023 @ 7:56 pm By Omar Faridi  |  

On June 6, 2023, the US Securities and Exchange Commission (SEC) filed a lawsuit against Coinbase (NASDAQ:COIN) primarily about a small number of assets listed on their platform, but also their retail staking services. The same day, state securities agencies in ten states – Alabama,… Read More

July 13, 2023 @ 12:27 pm By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed charges against Celsius Network and its founder and former CEO, Alex Mashinsky. At the same time, the US Department of Justice has filed criminal charges against Celsius, Mashinsky and former Chief Revenue Officer Roni Cohen-Pavon. The SEC… Read More

July 13, 2023 @ 10:39 am By JD Alois  |  

The Securities and Exchange Commission (SEC) has filed additional charges in regard to the Frank case and its sale to JP Morgan for $175 million in 2021. According to a statement by the SEC, former Chief Growth Officer of Frank, Olivier Amar, has been charged… Read More

July 12, 2023 @ 4:58 pm By Omar Faridi  |  

The LBRY case judge has recently made a ruling on whether secondary cryptocurrency sales are considered to be securities. Back in January 2023, attorney John Deaton had reportedly convinced the Judge in the US Securities and Exchange (SEC) vs. LBRY court case that secondary LBC… Read More