The U.S Securities and Exchange Commission (SEC) charged two Maryland based companies over a Ponzi scheme that allegedly defrauded approximately 1,200 investors, of more than $27 million by promising to trade their money on crypto exchanges. SEC charges Ponzi scheme targeting African immigrants https://t.co/lyrs3RSViJ — SEC_News (@SEC_News) August 28, 2020 The illegitimate companies involved in...Read More
Fidelity Investments, an asset management company with about $2.7 trillion of assets under management, will reportedly launch its first Bitcoin-only fund. The product is oriented toward family offices, registered investment advisers, as well as other institutions and will require a minimum investment of $100,000. Fidelity Puts Its Name to a Bitcoin Fund Fidelity Investments is...Read More
The move has been seen as extremely positive for the crypto industry as her nickname is ‘crypto mom’. The Senate Banking Committee cleared Peirce’s nomination on Wednesday, extending her term until 2025. Pro Crypto SEC Commissioner Peirce is very pro-crypto and fintech innovation, commenting last month that it is “going to be here to stay...Read More
The large cryptocurrency asset manager Grayscale Investments has filed a Registration Statement on Form 10 with the Securities and Exchange Commission (SEC) for its Grayscale Ethereum Trust. Should the application be successful, the ETH Trust will be the second company product designated as a digital asset investment vehicle reporting to the SEC after the Grayscale...Read More
Abra has come under fire from U.S. regulators for offering illegal swaps to U.S. retail investors. This sets an alarming tone for the decentralized finance field, which is currently booming. SEC and CFTC Fine Abra $300k According to a press release by the U.S. Securities and Exchange Commission (SEC) on Monday (July 13, 2020), Abra...Read More
The leading US-based cryptocurrency exchange and one of the biggest companies in the industry, Coinbase, reportedly prepares for an official stock market listing. Coinbase Prepares for Stock Market Listing According to a report filed by Reuters minutes ago, the leading US-based cryptocurrency exchange, Coinbase, has started making preparations for a stock market listing. Should the...Read More
The last seven days weren’t so fruitful for Bitcoin. After trading in a relatively narrow range for a while before that, the BTC price gradually increased to about $9,700 on Wednesday. On the same day, however, the price tumbled during the same day and started declining. Immediately after that, Bitcoin retraced to about $9,000 before...Read More
Six years on from the publication of its original whitepaper, Filecoin (FIL) has launched an incentivized testnet designed to test the network in realistic conditions. Aiming to build a decentralized file storage network, Filecoin carried out a $250 million ICO in 2017 – the largest Initial Coin Offering at the time. It was also the...Read More
A lot of cryptocurrency projects have found themselves in the crosshairs of the SEC. For the Modern Money Team, or MMT, it seems the allegations of fraud and misleading investors have some merit to them after all. Whenever a new company starts to promote cryptocurrency activities, scrutiny is warranted. Modern Money Team is in Serious Trouble...Read More
The President of the United States, Donald Trump, has tapped Hester Peirce for a second term as a member of the Securities and Exchange Commission (SEC) as her current one is set to expire on June 5th, 2020. Peirce is a vocal defendant of Bitcoin as she opposed the rejections of a Bitcoin-based ETF by...Read More
Discussions around Bitcoin and cryptocurrencies, in general, have reached the high seats of investment banking. This becomes clear as the behemoth multinational investment bank Goldman Sachs hosted a conference call headlined US Economic Outlook & Implications of Current Policies for Inflation, Gold, and Bitcoin. Perhaps somewhat expectedly, the banking giant used its platform to bash...Read More
The head of the Security and Exchange Commission cleared the speculations of Market Shut Down by the government. The SEC believed the closing of the markets is rare but unprecedented. Investors should have access to their investment which is possible only if markets are running. The SEC Chair Jay Claton said that SEC was closely...Read More
While Bitcoin has been defined as a non-security by the Securities and Exchange Commission (SEC), the regulatory status of XRP, the third-largest cryptocurrency, is still up in the air. The cryptocurrency being found as a security could, as fintech upstart Ripple put it, “upend and threaten to destroy the established XRP market more broadly.” Despite...Read More
For years, crypto financial services firms across the U.S. have been trying their hand at launching publicly-traded Bitcoin funds (ETFs). Unfortunately for these hopefuls, the U.S. Securities and Exchange Commission (SEC) has long not agreed with these firms’ assertions that the cryptocurrency market is ready for its own regulated, tradable fund. This was confirmed to...Read More
SEC Commissioner Hester Peirce has publicly announced her proposal for a safe harbor for cryptocurrency token sales within the United States. Often referred to as “Crypto Mom”, Hester Peirce was first appointed to the U.S. Securities and Exchange Commission in early 2018 and has been a strong advocate for crypto ever since. And while this...Read More
The Securities and Exchange Commission (SEC) of the US is tightening the noose around initial exchange offerings (ICOs). In yet another step against them, the Commission has brought charges against one more allegedly fraudulent ICO of unregistered digital asset securities. The SEC Is Getting Serious About ICOs The SEC has pressed charges against defendants Sergii...Read More
The critical situation between Telegram and the U.S. Securities and Exchange Commission (SEC) took another step forward. The market regulator now claims that the popular messaging company saw its upcoming Gram token as securities and thus should fall under established regulations. Is Gram Token A Security? Telegram’s controversy regarding its TON blockchain and its native...Read More
It appears that the cryptocurrency community won’t be seeing an SEC Bitcoin ETF yet again, as Bitwise has withdrawn its application which was filed in January 2019. According to the official note, the move is largely due to the public interest and pursuant to existing regulations. Bitwise Withdraws Bitcoin ETF Application A lot of people...Read More
With initial coin offerings (ICOs) virtually gone and initial exchange offerings (IEOs) now dominating the crypto industry as the newest method of fundraising for blockchain projects, the United States Security and Exchange Commission (SEC) has warned US investors to be cautious when investing in them. The regulator issued an official notice today, warning crypto investors...Read More
Telegram appears to have caught a break with the recent case filed by the U.S. Securities and Exchange Commission (SEC). The company recently refused to share its financial records with the market regulator, and now the New York court has ruled against SEC’s demand. SEC Request Denied This year started on the wrong foot for...Read More
The case between the U.S. Securities and Exchange Commission (SEC) and the encrypted messaging platform Telegram takes another turn. The latter has reportedly refused to hand over financial details regarding its ICO from two years ago, which was recently requested by the market regulator. Telegram Does Not Want To Share After raising over a billion...Read More
In this roundup, we cover a wide range of regulatory developments in the crypto space. Much has transpired in the U.S., including a new crypto bill, SEC’s proposal, lawmakers seeking answers from the IRS, and the state of Michigan signing several crypto bills into law. We also cover France’s first-approved initial coin offering, a proposal...Read More
The concept of a Bitcoin ETF has been dead in the water for years. Despite another rejection looming on the horizon, Bitwise is not giving up on this idea just yet. It is not the first time that the company wants to explore a Bitcoin ETF. Bitwise Wants its Bitcoin ETF at all Costs So...Read More
It does not happen often that the SEC settles with an ICO company. In the case of Blockchain of Things, it seems everything has been reconciled, of sorts. According to a press release, Blockchain of Things has been subject to an SEC investigation. The SEC Wants to Educate This is not uncommon for ICO projects,...Read More
The U.S. cryptocurrency scene might be on the way to seeing clear cut crypto regulations as Congress prepares to consider a new bill detailing modalities for digital asset oversight. Clear Definition for Digital Assets According to Forbes, the proposed bill titled ‘Cryptocurrency Act of 2020’ seeks to provide a clear framework for crypto regulations in...Read More
The U.S. Securities and Exchange Commission (SEC) has proposed amending the definition of “accredited investor” — a move that will increase access to regulated cryptocurrency investments. A number of them are currently only available to accredited investors. Among other changes, a person can qualify based on professional knowledge, experience, or certifications. Also read: Lagarde Sees...Read More
Two years after Bitcoin’s ATH, the US SEC still continues to deal with cases involving illegal fundraising by crypto-based companies. SEC Sets its Sights on Latest Crypto Project It has been two years since Bitcoin (BTC) reached its all-time high, with its price reaching $20,000. However, the market surge that allowed its price to go...Read More
The future of cryptocurrency regulation in the United States remains uncertain. The lack of a clear regulatory framework makes it difficult for market participants to act without fear of reprisal. The guidance issued and actions taken by the U.S. Securities and Exchange Commission (SEC), Commodity Futures Trading Commission (CFTC), and Congress in 2019 provide a...Read More
Crypto exchange giant Binance is currently looking to expand its token trading pair listings for its US platform by as many as 18 new cryptocurrencies. Tron and Tezos On Binance Radar for US Crypto Exchange In a blog post published on Tuesday (December 11, 2019), Binance.US, the American arm of Binance announced that it was...Read More
Many Initial Coin Offerings (ICOs) have been and are frauds. The state enables this con game in various ways, including the establishment of accredited investors and the regulation of businesses that sell equity. Shut off from the most lucrative aspects of investment, average people rush into the few sources of profit still available to them....Read More
