Tagged: sec

SEC Charges Three Individuals with Digital Asset Fraud Regarding Start Options, Bitcoiin2Gen

The Securities and Exchange Commission (SEC) has filed charges against Kristijan Krstic, founder of Start Options and Bitcoiin2Gen, and John DeMarr, said to be the primary U.S.-based promoter for these companies, for fraudulently induced investors to buy digital asset securities. The complaint states that Krstic… Read More

Digital Asset Exchange Coinbase to Go Public through a Direct Listing Instead of Conducting an IPO

Digital asset exchange Coinbase has confirmed its plans to become a publicly-traded company “pursuant to a proposed direct listing of its Class A common stock.” Coinbase Global, Inc. noted in a blog post published on January 28, 2021, that the proposed listing is “expected to… Read More

US SEC Is Actively Looking at Stablecoins, and May Closely Examine Decentralized Finance or DeFi Platforms

The US Securities and Exchange Commission (SEC) confirmed that it will be actively looking at stablecoins which are digital assets pegged 1-to-1 with major world currencies such as the US dollar, British pound, the Euro, the Singapore dollar, among many others. Nisa Amoils, a securities… Read More

SEC Small Business Capital Formation Advisory Committee Publishes Agenda for Next Week’s Meeting

The Securities and Exchange Commission has posted the agenda for the meeting of the Small Business Capital Formation Advisory Committee. According to a release, the Committee’s morning session will feature representatives from exchanges and platforms who will share some of the trends and dynamics they… Read More

BitPay Says Fintechs Square and PayPal will Drive Bitcoin and other Cryptos to Become Globally Accepted Payment Method

The team at BitPay, a blockchain payment technology firm that allows users to accept and send Bitcoin and other cryptocurrencies, notes that even though 2020 was a “rollercoaster of a year for the world,” digital currency remains at the “forefront” of the future of finance…. Read More

Commissioner Allison Herren Lee Selected as Acting Chair of SEC

President Joe Biden has selected Commissioner Allison Herren Lee as acting Chair of the Securities and Exchange Commission (SEC). Commissioner Lee will lead the SEC until Gary Gensler is approved by the US Senate. Upon being selected, Acting Chair Lee issued the following statement: “It’s… Read More

Former CFTC Chair Gary Gensler Selected to be Chairman of the Securities and Exchange Commission, Lauded for Being Fintech Friendly

Gary Gensler, the former Commodities Futures Trading Commissioner Chair, has been selected by President-elect Joe Biden to helm the Securities and Exchange Commission (SEC). Gensler previously led the CFTC during the Obama administration. Prior to the CFTC, Gensler spent 18 years at Goldman Sachs. He is… Read More

SEC Commissioner Peirce Disagrees with Portion of Wireline Settlement Regarding SAFT

Earlier today, the Securities and Exchange Commission (SEC) posted a settlement pertaining to Wireline and a SAFT offering that took place in 2018. According to the complaint, the SEC states that: “… between January and September 2018, Wireline, an early-stage project focused on the development… Read More

After Long Wait, Updates to Crowdfunding Exemptions Publish in Federal Register with New Rules Effective in March

After a long delay, final rules approved by the Securities and Exchange Commission (SEC) have made their way over to the Federal Register. By being published in the Federal Register, the clock begins ticking as to when the new rules become available to use by… Read More

Derivatives Attorney Shares Insight into Changes at CFTC with New Administration: Increased Regulation May Hamper Innovation

The Biden Administration continues to announce new appointments as it looks to fill out the bench of federal appointees following the inauguration on January 20, 2020. For the securities and financial services industry, many questions exist as to how this leadership transaction will impact policy…. Read More

XRP Has Lost Half of its Value Since SEC Enforcement Action was Announced

XRP, the native currency created by Ripple, continues to tiptoe lower following the announcement of an enforcement action by the Securities and Exchange Commission.  In fact, on the day the SEC announced the lawsuit, XRP held a market cap of over $20 billion. Today, that… Read More

Top Crypto and Blockchain Predictions for 2021 and Beyond – Part 1

Bitcoin (BTC) and other cryptocurrency platforms such as Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Binance Coin (BNB), Chainlink (LINK), and Polkadot (DOT) are being increasingly adopted by a diverse group of users across the globe. Many more institutions and fairly large publicly listed companies… Read More

XRP Trading Support will be Halted by Leading Crypto Wallet and Exchange Platform Blockchain.com Following US SEC’s Action Against Ripple

Blockchain.com, a leading cryptocurrency wallet provider, trading platform, and block explorer service, revealed on January 5 that it will be halting XRP trading, beginning on (Thursday) January 15, 2021. Blockchain.com’s management confirmed that because of the US Securities and Exchange Commission’s (SEC) recent action against… Read More

The Time of COVID: The Biggest Fintech Stories of 2020

2020 was a challenging year for the entire world. The ongoing health crisis surprised everyone as the world dove into a pandemic, pummeling the global economy and impacting everyone. In many respects, Fintech emerged as a beneficiary of COVID-19. Digital transformation of financial services were… Read More

Ripple Comments on Recent Market Participant Activity, Plans Response to SEC in a Few Weeks

Ripple, the creator of XRP – one of the largest cryptocurrencies in the world by market cap, has posted a brief comment on “recent market participant activity” following XRPs dive in value. XRP began to sink following the revelation of an enforcement action by the… Read More

The Five Biggest Crowdfunding Stories of 2020

Online capital formation has emerged as an effective path for private companies to raise much-needed growth capital fueling innovation and creating jobs. Once the realm of VCs and angel investors only, investment crowdfunding now enables retail investors to access promising young firms at an early… Read More

XRP Continues March Lower as Big Exchanges Halt Trading Following SEC Enforcement Action Targeting Ripple

XRP continues to sink in value following the rolling news that more crypto exchanges are deciding to halt trading the digital asset.  On December 22nd, the Securities and Exchange Commission (SEC) revealed an enforcement action targeting Ripple that alleges the sale of $1.38 billion in… Read More

SEC Officially Announces Elad Roisman as Acting Chairman

The Securities and Exchange Commission (SEC) has announced that President Donald J. Trump has selected Elad L. Roisman as Acting Chairman of the agency. Prior Chairman Jay Clayton departed the Commission on December 23rd. The news of Roisman temporarily taking the helm of the Commission… Read More

Crypto Fund Virgil Capital LLC Charged by SEC for Fraud, SEC Obtains Emergency Asset Freeze

Virgil Capital LLC, directed by Stefan Qin, and its “flagship” cryptocurrency trading fund, Virgil Sigma Fund LP have been hit by fraud charges leveled by the US Securities and Exchange Commission (SEC). Simultaneously, the SEC has obtained an emergency asset freeze related to the charges,… Read More

Commissioner Elad Roisman to Become Acting Chairman of the SEC

Jay Clayton officially stepped down as the Chairman of the Securities and Exchange Commission on December 23rd. His departure had been previously announced and anticipated for this month. In a letter sent to President Trump, Clayton said it had been the honor and privilege of… Read More

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