In an order Monday, Chief Judge Robert Shelby, from the District of Utah, wrote that the SEC’s attorneys misled the court both in applying for a temporary restraining order as well as afterward, when DEBT Box filed to dissolve the order, noting at the end that the order is focused on the TRO question, and not the underlying case. Source
Tag: SEC
US Senators Push SEC to Stop Approving Spot Crypto ETFs — Say Other Crypto Markets Risker Than Bitcoin
Two U.S. senators have urged U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler to refrain from approving additional crypto exchange-traded fund (ETF) applications. The lawmakers cautioned: “However vulnerable bitcoin may be to fraud and manipulation, markets for other cryptocurrencies are far more exposed to misconduct.” Lawmakers Say SEC Should Not Approve Spot Crypto ETFs […] Original
A $300M Ponzi Scheme That Targeted Latinos Falsely Claimed to Buy Crypto, SEC Says
“The only thing that CryptoFX guaranteed was a trail of thousands upon thousands of victims stretching across 10 states and two foreign countries,” he said. “A scheme of that size requires lots of participants, and as today’s action demonstrates, we will pursue charges against not just the principal architects of these massive schemes, but all those who further their fraud by unlawfully soliciting victims.” Source
Judge Rules Against Gemini, Genesis Motion to Dismiss SEC Case Against Earn Product
Gemini Earn was first available to retail customers in February 2021, offering as much as 8% interest on crypto tokens invested through the program. According to the SEC’s complaint, Gemini Earn had approximately 340,000 retail users and $900 million in assets on its platform when, in November 2022, Genesis halted withdrawals, citing “withdrawal requests which have exceeded our current liquidity.” Source
SEC Orders First Trust-SkyBridge to Declare its Bitcoin ETF Application Abandoned
First Trust was one of the first to file for a BTC ETF, and was rejected by the SEC in January 2022. Original
Thailand’s SEC Greenlights Investment From Institutional and Wealthy Individuals in Crypto ETFs
“Asset management firms asked the SEC for them to have exposure in digital assets, especially bitcoin and spot bitcoin ETFs, but we need to consider carefully whether to allow asset management firms to invest in digital assets directly due to the high risk,” said Pornanong. Source
Coinbase Accuses U.S. SEC of Breaking the Law in Rejecting Crypto Rulemaking
The SEC has spent a considerable time in court on crypto matters, and its record of judgements is – so far – a mixed bag. It lost badly in disputes with Ripple and Grayscale (leading to the approval of spot bitcoin exchange-traded funds), but it’s prevailed in others, including a recent ruling in an insider-trading case tied to a former Coinbase employee. In that case, a judge in the U.S. District Court for the Western District of Washington decided the crypto assets in that matter were unregistered securities. Source
BlackRock seeks SEC approval for Bitcoin ETF inclusion in Global Allocation Fund
BlackRock, a global leader in asset management, is in the process of seeking regulatory approval to incorporate spot Bitcoin exchange-traded funds (ETFs) into its Global Allocation Fund, known as MALOX. The firm updated its filing with the United States Securities and Exchange Commission (SEC) on March 7, outlining its intention to invest in physically-backed Bitcoin exchange-traded products (ETPs), including its own iShares Bitcoin Trust (IBIT) and those offered by other issuers. The move indicates BlackRock’s interest in enabling its fund to invest directly in Bitcoin through national securities exchanges. The…
SEC delays spot Bitcoin ETF options request until April 4
The SEC postponed a decision on two requests to bring options on spot Bitcoin ETFs to market following the successful launch by nine issuers, excluding Grayscale’s GBTC. According to a March 6 filing, the U.S. SEC delayed approving, denying, or initiating rule change processes for an application to list and trade options on BlackRock’s iShares Bitcoin ETF (IBIT) filed by Nasdaq. A comment period for the proposal has already opened, and some five people have supplied feedback, asking the SEC to greenlight options trading on BlackRock’s spot Bitcoin (BTC) ETF.…
US Judge Backs SEC: Trading of Certain Cryptocurrencies on Secondary Markets Are Securities Transactions
A U.S. district judge has sided with the Securities and Exchange Commission (SEC) in a ruling that declares the trading of certain crypto assets on secondary markets to be securities transactions. This decision emerged from an insider trading case involving crypto exchange Coinbase’s former product manager Ishan Wahi, his brother Nikhil Wahi, and their friend […] Source CryptoX Portal