sec
SEC Charges Cumberland DRW with $2 Billion in Unregistered Crypto Trading
- The regulator charged the company for operating as an unregistered crypto dealer in crypto transactions worth over $2 billion.
- Cumberland DRW denied the allegations, arguing that the SEC’s enforcement actions stifle innovation.
Thursday, 10/10/2024 | 19:22 GMT by
Jared Kirui
SEC Charges Firm for “AI Washing” in Investment Scheme
- The securities watchdog accused Rimar Capital of raising nearly $4 million by misrepresenting an AI trading platform.
- It also alleged misleading statements about the company's assets under management and investment returns.
Thursday, 10/10/2024 | 16:01 GMT by
Jared Kirui
SEC Escalates Crypto Scrutiny: Unregistered Offerings Lead Surge in Lawsuits
- Finbold's research shows that the SEC's litigations rose to 12 in the third quarter from 3 reported in Q2.
- The regulator focused on unregistered offerings as the most common violation.
Tuesday, 08/10/2024 | 17:34 GMT by
Jared Kirui
Crypto.com Takes SEC to Court, Claims Regulatory Overreach
- The lawsuit is based on a Wells notice issued by the regulator, accusing the exchange of improperly classifying crypto assets.
- Crypto.com has also petitioned the CFTC and SEC for clarification on the regulation of cryptocurrency derivative products.
Tuesday, 08/10/2024 | 15:09 GMT by
Jared Kirui
Coinbase Challenges SEC: Judges Question the Regulator's Crypto Rulemaking Rejection
- The judges voiced concerns about the SEC's unclear guidance for the crypto industry, as claimed by Coinbase.
- The SEC defended its stance, citing other priorities and ongoing regulatory efforts.
Monday, 30/09/2024 | 13:14 GMT by
Jared Kirui
Coinbase and SEC Escalate Legal Battle Over Crypto Regulations: Report
- The crypto exchange initiated the lawsuit after the SEC dismissed a petition for new rulemaking.
- SEC maintains that the existing securities laws are sufficient to govern digital assets.
Tuesday, 24/09/2024 | 18:08 GMT by
Jared Kirui
Texas Court Dismisses Consensys' Lawsuit Against the SEC
- The court stated that an investigation into Ethereum had already been resolved, rendering the lawsuit unnecessary.
- Despite this outcome, Consensys argued that the SEC is overreaching its authority.
Friday, 20/09/2024 | 20:08 GMT by
Jared Kirui
Kraken Argues Cryptos Are Not “Illegal Securities”: Seeks Jury Trial against SEC Lawsuit
- The exchange cited the Securities Act and the Exchange Act, highlighting that neither mentions digital assets.
- It also questioned the SEC’s authority to regulate digital assets.
Friday, 13/09/2024 | 09:03 GMT by
Arnab Shome
SEC Charges Abra for Failing to Register $600 Million Crypto Lending Program
- The SEC claims that Abra Earn should have been registered as a security and that Abra held over 40% of its total assets in investment securities.
- Abra agreed to settle the charges by paying civil penalties and accepting an injunction against further violations.
Monday, 26/08/2024 | 20:29 GMT by
Jared Kirui
SEC Pays $24 Million to Whistleblowers in Major Enforcement Case
- The first whistleblower received $4 million for providing timely information that led the SEC to open an investigation.
- The regulator’s whistleblower program is funded by monetary sanctions imposed on securities law violators.
Monday, 26/08/2024 | 17:41 GMT by
Jared Kirui
200,000 People Lost $650 Million in This Crypto Scam
- NovaTech used an MLM scheme to lure investors from around the world, promising high returns.
- The SEC also fined OTC Link LLC $1.19M for failing to file Suspicious Activity Reports over a three-year period.
Tuesday, 13/08/2024 | 06:31 GMT by
Damian Chmiel
SEC Pays Whistleblower $37 Million for Aiding Enforcement Action
- The whistleblower provided unique and previously unknown information to the regulator, significantly aiding its investigation.
- Whistleblower awards reportedly range from 10 to 30% of the money collected, provided the monetary sanctions exceed $1 million.
Wednesday, 17/07/2024 | 19:43 GMT by
Jared Kirui
Binance Gains Advantage in SEC Case as Judge Dismisses Key Claims
- The court ruled that Binance's native BNB tokens and fiat-backed stablecoin BUSD do not qualify as securities.
- However, the SEC's claim on direct sales of BNB as securities transactions will proceed.
Tuesday, 02/07/2024 | 18:32 GMT by
Jared Kirui
Do Kwon and Terraform Labs Reach Settlement with SEC in Civil Fraud Case: Report
- US District Judge Jed Rakoff of Manhattan has requested supporting documents from both parties by June 12.
- In April, a jury found Kwon and Terraform Labs liable for civil fraud charges.
Thursday, 30/05/2024 | 17:23 GMT by
Jared Kirui
Ethereum ETF Approval to Open the Doors for More Crypto ETFs
- The Financial Innovation and Technology bill passed on Wednesday, and the SEC relinquished its opposition to the Ethereum ETF.
- These actions could be a game-changer for the crypto space in the long run.
Friday, 24/05/2024 | 07:52 GMT by
Victor Golovtchenko
SEC Chief Gary Gensler Slams Crypto over Inadequate Disclosures
- Gensler maintains that most cryptocurrencies are securities and must comply with relevant laws.
- He pointed out the prevalence of scams and noncompliance with securities laws in the cryptocurrency sector.
Thursday, 09/05/2024 | 20:04 GMT by
Jared Kirui
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