Tag: SEC

SEC and Binance push for another pause in lawsuit after ‘productive’ talks

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The US Securities and Exchange Commission (SEC) and crypto exchange Binance have asked a US federal judge for an additional two-month pause in their nearly two-year legal battle. “Since the Court stayed this case, the Parties have been in productive discussions, including discussions concerning how the efforts of the crypto task force may impact the SEC’s claims,” both parties said in an April 11 joint status report with the US District Court for the District of Columbia. SEC requests Binance to agree to the extension According to the filing, the…

Acting SEC chair Mark Uyeda eyes regulatory ‘sandbox’ for crypto firms

Mark Uyeda, acting chair of the United States Securities and Exchange Commission, has hinted that the regulator could consider a regulatory ‘sandbox’ for crypto firms looking to offer trading of tokenized securities. Uyeda made the comments in an opening speech at the SEC’s Crypto Task Force’s second roundtable that focused on crypto trading.  According to the acting SEC chair, this framework would allow both registered and unregistered exchanges offering tokenized securities. It is a move towards clear regulation, with a federal regulatory framework key to avoiding the need for a…

XRP Set to Explode? Ripple and SEC File Joint Request

Key Notes Ripple and SEC pause legal battle, signaling a near-final settlement that could reshape crypto regulation. XRP trades near critical resistance at $2.10, with RSI and Bollinger Bands hinting at an imminent breakout. The SEC withdrew its appeal in March against Ripple Labs, sparking settlement rumors. American fintech firm Ripple and its cryptocurrency XRP are once again the center of attention in both legal and market circles amid a notable development in the legal battle against the United States Securities and Exchange Commission (SEC). At press time, the cryptocurrency…

Feds, SEC charge app maker with fraud, saying ‘AI’ service was Philippine workers

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US authorities have charged a tech app founder with fraud, alleging that his advertised artificial intelligence-powered e-commerce app actually relied on human workers in the Philippines. Albert Saniger of Barcelona, Spain, founder and former CEO of the company Nate, was charged with one count of securities fraud and wire fraud, the Justice Department said in an April 9 statement, while the Securities and Exchange Commission filed a parallel civil action. Court documents said Saniger founded Nate around 2018 and launched an app of the same name in July 2020, marketing…

SEC staff gives guidance on how securities laws could apply to crypto

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US Securities and Exchange Commission staff have given guidance on how federal securities laws could apply to crypto, saying companies issuing or dealing with tokens that could be securities should give better details about their business. The SEC’s Division of Corporation Finance said in a staff statement on April 10 that it was giving its views “to provide greater clarity on the application of the federal securities laws to crypto assets.”  The Division said its statement was made of observations of disclosures given in existing disclosure requirements and “addresses our…

Helium Issuer Nova Labs Agrees to Pay SEC $200K to Settle Allegations It Lied to Investors About Brand Partnerships

Nova Labs, the parent company behind the Helium blockchain, has agreed to pay the U.S. Securities and Exchange Commission (SEC) $200,000 to settle civil securities fraud charges the regulator filed against the firm in January, a court filing said Thursday. Without admitting or denying any wrongdoing, Nova Labs agreed to pay the fine to settle accusations that it misled institutional investors during a funding round from late 2021 to early 2022, during which it raised $200 million in fresh capital at a $1 billion valuation. In its complaint, the SEC…

SEC drops suit against Helium for alleged securities violations

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The US Securities and Exchange Commission (SEC) has dismissed a lawsuit against Nova Labs, developer of decentralized wireless network Helium, for allegedly issuing unregistered securities, Helium stated in an April 10 blog post.  Filed in January 2025, the lawsuit was among the SEC’s final enforcement actions against a cryptocurrency developer under former Chair Gary Gensler, who stepped down from his post on Jan. 20 after US President Donald Trump took office.  The dismissal with prejudice means the blockchain developer cannot be charged with similar violations again for issuing in 2019…

Is US SEC Chair Paul Atkins Good or Bad for Crypto?

Key Notes Atkins’s appointment has been welcomed by the crypto community, given his $5 million stake in crypto investment firms. Atkins has pledged to build a firm regulatory foundation for digital assets, continuing the crypto-friendly measures initiated by acting SEC Chair Mark Uyeda. Dennis M.Kelleher, co-founder of Better Markets, criticized Atkins’s past, blaming him for deregulation that contributed to the 2008 financial crisis. On April 9, the US Senate finally announced Paul Atkins as the permanent Chairman of the US Securities and Exchange Commission (SEC) in a 52-44 vote largely…

OpenSea urges SEC to exclude NFT marketplaces from regulator’s remit

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Non-fungible token marketplace OpenSea has urged the US Securities and Exchange Commission to exclude NFT marketplaces from regulation under federal securities laws. The SEC needs to “clearly state that NFT marketplaces like OpenSea do not qualify as exchanges under federal securities laws,” OpenSea general counsel Adele Faure and deputy general counsel Laura Brookover said in an April 9 letter to Commissioner Hester Peirce, who leads the agency’s Crypto Task Force. Faure and Brookover argued that NFT marketplaces don’t meet the legal definition of an exchange under US securities laws as…

US Senate confirms Paul Atkins to lead SEC under Trump

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Update April 10 at 1:41am UTC: This article has been updated to include more background on Paul Atkins before becoming SEC chair. The US Senate has confirmed US President Donald Trump’s nominee, Paul Atkins, as chair of the Securities and Exchange Commission in a 51-45 vote largely along party lines. Atkins’ confirmation on April 9 comes after Trump named the pro-crypto former Wall Street consultant to lead the agency late last year. Atkins also served as an SEC commissioner between 2002 and 2008, during the global financial crisis. ”A veteran…