Chris Larsen, Ripple co-founder and chairman of the payments technology company’s board of directors, said China’s “itching” to be the one that designs the next financial system and that the U.S. is “woefully behind.” See also: SEC Will Be Forced to Give Crypto Guidance Despite Bureaucracy, Risk-Avoidance: Peirce Source link
SEC
37 posts
U.S. Securities and Exchange Commissioner (SEC) Hester Peirce, well known for her pro-cryptocurrencies views, said increased interest in the space will necessarily force the regulatory body to shift toward a more accommodating stance, according to a recent interview with Cointelegraph. Source link
U.S. Securities and Exchange Commissioner Hester Peirce discussed some major trends in the digital asset world during a chat with journalist Laura Shin, at the LA Blockchain Summit on Tuesday. While the talk kicked off with Peirce’s letter of dissent against the recent SEC decision to levy a $6.1 million fine on Unikrn, the commissioner spoke about a range of topics including decentralised finance (DeFi), her safe harbor proposal for token issuers, and, whether token airdrops and DeFi governance tokens could run into securities regulations. Right at the beginning of the talk, Peirce noted the views laid out in the chat […]
A Florida crypto trader has been charged with duping $6.8 million from investors in his purported digital asset day trading shop. The case is a reminder that investors in cryptocurrency should watch out for promises too good to be true. Crypto, just like all asset classes, has its share of charlatans preying on the aura of a little-understood but much-hyped investment vehicle. Source link
SoluTech, a defunct blockchain firm whose initial coin offering (ICO) raised $2.4 million, has settled fraud and securities violations charges with the U.S Securities and Exchange Commission (SEC). The SEC slapped SoluTech and its co-founder, 24 year-old Nathan Pitruzzello with fines and a cease-and-desist order for conducting its unregistered 2018-2019 ICO of the SCRL token in an administrative filing published Friday. Source link
The U.S. Office of the Comptroller of the Currency (OCC) has published fresh guidance, officially clarifying national banks can provide services to stablecoin issuers in the U.S. The Office of the Comptroller of the Currency (OCC) and the Securities and Exchange Commission (SEC) published stablecoin guidance Monday, providing the first detailed national guidance on how cryptocurrencies backed by fiat currencies should be treated under law. Prior to Monday’s notices, there was no federal clarity around stablecoins. Stablecoin issuers have been using U.S. banks for years, but in an unclear regulatory environment. Now, the OCC wants federally regulated banks to feel comfortable […]
Once the registration statement becomes effective, Enigma would be required to file annual and quarterly reports with the regulatory body for its token. Source link
The U.S. Securities and Exchange Commission (SEC) settled unregistered securities offering charges against online gaming and gambling platform Unikrn for conducting an initial coin offering (ICO) in 2017. Commissioner Hester M. Peirce, an outspoken advocate for cryptocurrencies, dissented. According to a press release Tuesday, the SEC alleged that between June and October 2017, Unikrn Inc. raised approximately $31 million through the UnikoinGold (UKG) token sale in violation of registration requirements. The SEC’s press release said that while the firm promised to use its funds to add more features to the platform and develop additional applications, it failed to register the sale […]
Noted cryptocurrency advocate and Securities and Exchange Commissioner Hester M. Peirce issued a public dissent after the SEC levied a $6.1 million fine on online gaming and gambling platform Unikrn for conducting an initial coin offering (ICO) in 2017, a penalty that effectively amounts to the size of the company’s current assets. Source link
MicroStrategy told the SEC it “may increase” its bitcoin (BTC) holdings beyond the $250 million haul purchased in August. Source link
The U.S. Securities and Exchange Commission (SEC) charged two crypto startups and eight individuals including rapper Clifford Harris Jr., more commonly known as T.I., with violating the Securities Act of 1933 and other charges due to their involvement with a pair of initial coin offerings (ICOs). The SEC alleged Friday that film producer Ryan Felton misappropriated funds and wash traded cryptocurrencies using the proceeds from two ICOs: FLiK, a digital streaming platform, and CoinSpark, a digital asset trading platform. TI and Atlanta residents Owen Smith, Chance White and William Spark, Jr. are charged with violating securities law for recommending investors buy […]
Robinhood is reportedly under investigation by the SEC for not fully disclosing that it was passing customer orders onto market makers. Source link
The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source link
There has been no shortage of epoch-changing twists so far this year. I mean, seriously, take your pick: even aside from the pandemic, we have riots on the streets of American cities, an alarming trade war, negative oil prices and gold briefly above $2,000/oz. These are just some of the loud, headline-grabbing changes that were once unthinkable but now form part of our new normal. A much quieter shift, but equally transformative, started to make its presence more felt on Thursday, when the Chairman of the U.S. Federal Reserve, Jerome Powell, outlined a new focus for the institution: inflation will […]
Protesters have taken to the streets of Minsk for another day of protests, marching towards the residence of Belarusian President Alexander Lukashenko in Minsk. The Belarusian president’s Press Secretary Natalya Eismont, when asked about the whereabouts of Alexander Lukashenko and whether he was following the situation in Minsk, shared a photo of him with an assault rifle in front of the Palace of Independence. Media reports have emerged suggesting the photo circulating on social media platforms could have been taken days before the Sunday protests. The statement comes after armoured personnel carriers approached a police cordon outside the residence of Lukashenko […]
The New York Stock Exchange may now allow some companies to raise capital via direct listings rather than IPOs. Source link
Big Ten Commissioner Kevin Warren says no sports through the end of the year due to COVID. But… he’s fine with his son playing ball at Mississippi state…and despite every single Athletic Director in the Big Ten wanting to play ball. As reported earlier, the Big Ten named Kevin Warren the Commissioner of the league last June. They probably didn’t see that this political hack would end all sports for the second half of 2020 when they did. Warren is supposed to oversee sports for the conference, not kill them. Shortly after Warren took over Big Ten sports, Warren showed his […]
Big Ten Commissioner Kevin Warren says no sports through the end of the year due to safety concerns. But… it’s ok for his son to play ball at Mississippi state. The Big Ten named Kevin Warren the Commissioner of the league last June. They probably didn’t see that this political hack would end all sports for the second half of 2020 when they did. Warren is supposed to oversee sports for the league, not kill them. Shortly after Warren took over the Big Ten in a job held by Big Ten faithful Jim Delaney who had 30 years with the league, […]
Pantera has informed the SEC its crypto fund has recieved a total of $164.7 million from investors with portfolios worth over $5 million. Source link
Under a pair of U.S. Securities and Exchange Commission (SEC) regulations, crowd-equity platform Republic has raised $16 million through the sale of its Republic Note security token. Announced Wednesday, the firm secured commitments of $11 million through a Regulation D offering. An additional $5 million from non-accredited investors was committed through a Regulation A+ offering that has yet to be approved. “What we did was a Reg D and a ‘testing the waters’ under Reg A+,” Republic CEO Kendrick Nguyen explained in a phone call. “We will hold [the non-accredited investors’] space until we can qualify the Reg A+ and close […]
The U.S. Securities and Exchange Commission (SEC) wants to procure a blockchain forensics tool that can analyze smart contracts and, preferably, highlight their security issues. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source link
Company executives anticipated regulators might one day take an interest in Binance Chain Source link
Failed Portland Mayor Ted Wheeler thought he’d join the Antifa-BLM mob on Wednesday night to show he’s down with the cause after DHS agents were deployed to protect the federal courthouse. Mayor Wheeler, who is also the Police Commissioner, previously refused to meet with federal officials and lashed out at DHS Secretary Chad Wolf. “A number of people have asked if I know DHS leadership is in town, and if I’m going to meet with them. We’re aware they’re here. We wish they weren’t. We haven’t been invited to meet with them, and if we were, we would decline,” Wheeler said […]
As a registered broker-dealer, Watchdog Capital said it is in a position to offer a whole host of SEC-exempted offerings for security tokens. Source link
Crypto financial app Abra has settled charges from the Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC) relating to its offering of swaps deemed unlawful by the regulators. Disclosure The leader in blockchain news, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. Source link
Kik’s proverbial day in court may last a lot longer than Telegram’s. That’s the takeaway from a federal judge’s response to the U.S. Securities and Exchange Commission during a hearing in its case against messaging platform Kik over the company’s 2017 initial coin offering, which raised $100 million. Judge Alvin K. Hellerstein, senior judge of the United States District Court for the Southern District of New York, rejected the SEC’s argument that the token sale was similar to that of Telegram, another messaging company which raised money for a blockchain project, and should face a similar outcome. The SEC won a […]
New Delhi (Sputnik): According to car industry representatives, the sector witnessed a revival in month-on-month sales in June due to pent-up demand caused by the COVID-19-induced lockdown. As the economy opens up, dealerships are experiencing increased demand. In a decision that is hoped will rev up auto sales in India after a lull due to the COVID-19 lockdown, the country’s major private sector lender HDFC Bank on Thursday announced its plans to offer ZipDrive instant auto loans to customers across 1,000 cities. “ZipDrive is arguably India’s fastest online auto loan offering. With this state-of-the-art technology-enabled solution, from the market leader […]
The future of the U.S. federal securities regulator, and perhaps the direction of cryptocurrency policy, is up in the air. Last week, President Donald Trump announced his intention to nominate Securities and Exchange Commission Chairman Jay Clayton to the post of U.S. Attorney for the Southern District of New York, asking Congress to approve the one-time corporate lawyer to become one of the nation’s most powerful financial crimes prosecutors. If – and that is a big if – he is confirmed to become the new U.S. Attorney for the Southern District of New York, the president will likely appoint one of […]
Robert Jenrick has in recent days found himself in hot water over a London property development row, as he initially backed speeding up a Conservative donor’s project so that the latter could avoid spending additional millions in taxes. A storm of reactions in all parliamentary camps ensued as UK Housing Secretary Robert Jenrick appeared to admit rushing through planning approval to help Tory donor Richard Desmond cut additional taxes in his property development plan for an east London dockland borough. “Senior Tories say that anyone can get the same access to the government Richard Desmond enjoys – all they have to […]
The U.S. Securities and Exchange Commission (SEC) moved to halt an allegedly fraudulent digital asset investment fund run by two Pennsylvania brothers. The SEC announced Friday it had filed a temporary restraining order and asset freeze against Sean and Shane Hvizdzak and their corporate entities, alleging the brothers stole millions from victims who thought they were investing in high-growth crypto opportunities. Investors had been told they were getting in on a high-growth fund that doubled its money in a single quarter and grew an additional 90% the next, according to the SEC. The Hvizdzaks ran multiple firms, including “Hvizdzak Capital Management” […]
U.S. Securities and Exchange Commission (SEC) Chairman Jay Clayton may be the next U.S. Attorney for the Southern District of New York. According to a Department of Justice press release published late Friday, Clayton has been nominated by U.S. President Donald Trump to helm the prosecutor’s office, three years after he first took on the role as chairman of the nation’s top securities regulator. Clayton’s term as chairman was supposed to have expired in 2021. Current U.S. Attorney for SDNY Geoffrey Berman will be stepping down from the role, after serving for 2.5 years. In a statement attributed to Attorney General […]
The U.S. Securities and Exchange Commission (SEC) moved Friday to freeze the assets of a cryptocurrency mining and multilevel marketing scheme that it claimed bilked investors of $12 million. Unsealing its complaint against Utah resident Daniel F. Putnam, his businesses MMT Distributions and R & D Global and associates Angel A. Rodriguez of Utah and Jean Paul Ramirez Rico of Colombia, the SEC claimed the three had lied to investors and misappropriated their funds. The “Modern Money Team,” (MMT) as Putnam apparently called both businesses, invested in crypto mining equipment from at least July 2017 and eventually pivoted to offering investors […]
Hester Peirce, one of five commissioners with the U.S. Securities and Exchange Commission (SEC), has been tapped for a second term at the regulatory agency, Bloomberg Law reported Wednesday. Peirce, who has been one of the most prominent crypto advocates among the U.S.’s regulatory agencies, took office in January 2018 after U.S. President Donald Trump nominated her to finish the last two years of a five-year-term. Without the renomination, her term would have expired on Friday. The new term would see her serving through 2025. In recent months, the regulator has proposed a safe harbor for crypto startups looking to issue […]
A number of top White House officials have been seen on the streets of Washington, DC, making visits to police lines amid intense protests around the capital, apparently hoping to boost officers’ morale after days of unrest. Attorney General Bill Barr, Defense Secretary Mark Esper and Chairman of the Joint Chiefs of Staff Mark Milley were each spotted in the capital on Monday evening despite ongoing demonstrations and a 7pm curfew imposed in the city. Attorney General Bill Barr and Defense Secretary Mark Esper both walking around the streets of DC tonight visiting police lines. pic.twitter.com/VZ1Q5dg4o8 — Ebony Bowden (@ebonybowden) June […]
BitClave, a California startup whose Ethereum-based search engine raised $25.5 million in a 2017 token sale, will pay back its 9,500 investors in a settlement with the U.S. Securities and Exchange Commission (SEC). The settlement ended BitClave’s court saga almost as soon as it began. Prosecutors with the SEC announced their charges Thursday in tandem with an order that called BitClave’s Consumer Activity Token (CAT) sale an unregistered initial coin offering (ICO). BitClave neither admitted nor denied that it broke the law when it sold CAT in 2017. In exchange, the “blockchain services firm” will return all $25.5 million to the […]