Tokens Continue to Drop, is SEC Preparing to go After Crypto Projects?

Twitter Facebook LinkedIn The price of Bitcoin has dropped by 10 percent over the last 24 hours following a severe sell-off. Yet, several low market cap crypto and tokens have plunged by twice that amount, posting losses in the range of 20 percent. ERC20 tokens launched on top of the Ethereum blockchain network have performed especially poorly against both Bitcoin and the US dollar over the past several days. Waltonchain, Lisk, ICON, Ontology, Golem, VeChain, WanChain, and many other tokens backed by active developer and investor communities declined substantially in…

Thai SEC Urges Public to Avoid Unlicensed Crypto Exchange as Regulation Set to Take Effect

Thailand’s financial regulator has told a cryptocurrency exchange to cease advertising and warned citizens not to use it due to legal uncertainty, the Thai Securities and Exchange Commission (Thai SEC) reported Tuesday, Nov. 13. In the release, the Thai SEC said it had not officially endorsed Q Exchange, a joint Thai and South Korean venture, within the framework of its new cryptocurrency laws. The Q Exchange, which reportedly offers ten crypto including Ethereum (ETH) and Bitcoin (BTC), noted that it had plans to launch its Q Token on Oct. 25, Thai…

SEC Charges EtherDelta Founder Over ‘Unregistered Securities Exchange’

The U.S. Securities and Exchange Commission (SEC) has charged Zachary Coburn, the founder of crypto token trading platform EtherDelta, with operating an unregistered securities exchange. The regulator said Thursday that EtherDelta, which acts as a secondary market for trading ERC-20 tokens, had been providing a marketplace for buyers and sellers to trade ethereum tokens that the SEC deemed to be “digital asset securities.” It used an order book, an order display website and a smart contract built on ethereum, the agency said. “EtherDelta’s smart contract was coded to validate the…

SEC Fines EtherDelta, Binance To Attract Institutions

The crypto market may have stagnated, but this industry’s innovators have continued to incessantly beat the “BUIDL” drum, as pro-crypto developments were as present as ever throughout the past week. Crypto-Friendly Governors Elected In Colorado, California To many crypto savants, the modern political scene, which promotes centralization and censorship in some cases, is far from a topic of importance. But, as Tuesday’s U.S. midterm results have rolled in, the ears of cryptocurrency enthusiasts have metaphorically perked, as it was revealed that two pro-Bitcoin/crypto politicians have been sworn into office in the nation’s…

Thailand to Legitimize First ICO ‘Portal’ via New Regulation, Says SEC Head

Thailand’s securities regulator will clear “at least one” Initial Coin Offering (ICO) “portal” to operate legally in November, local daily news outlet Bangkok Post reported Nov. 8. Speaking to the publication, Rapee Sucharitakul, secretary general of the Thai Securities and Exchange Commission (SEC) said that ICOs themselves could also start seeing official approval to serve Thai markets as soon as December. “At least one ICO portal will be certified in November, then we can approve each ICO offering, which might start in December,” he said. The confirmation marks the closing…

Expect the SEC to Target More Token Exchanges After EtherDelta

The Securities and Exchange Commission’s (SEC) settlement with the founder of EtherDelta is likely the first of many enforcement actions to come against crypto token exchanges. Until recently, the SEC’s scrutiny of the cryptocurrency industry largely focused on projects and teams that raised money through initial coin offerings (ICOs) in possible violation of securities laws. But a person familiar with the SEC’s thinking told CoinDesk Thursday that crypto trading platforms have become a significant priority for the agency’s enforcement division. As such, the news that the SEC had charged EtherDelta founder Zachary…

US SEC Charges, Fines EtherDelta Founder with Operating Unregistered Securities Exchange

The U.S. Securities and Exchange Commission (SEC) has charged Zachary Coburn, the founder of crypto token trading platform EtherDelta, with operating an unregistered securities exchange, a press release by the SEC reveals Thursday, Nov. 8. EtherDelta, which served as a secondary marketplace for trading ERC20 tokens, allows its users to buy and sell digital assets by means of an order book and smart contracts based on the Ethereum blockchain. According to the SEC, over an 18-month operating period, EtherDelta’s users placed more than 3.6 million orders for tokens, including ones…

EtherDelta Founder Charged by SEC For Operating an Unregistered Exchange

In an apparent first, the U.S. Securities and Exchange Commission (SEC) has charged the founder of EtherDelta, Zachary Coburn, with running an “unregistered national securities exchange,” according to a press release from the regulator. “EtherDelta provided a marketplace for bringing together buyers and sellers for digital asset securities through the combined use of an order book, a website that displayed orders, and a ‘smart contract’ run on the Ethereum blockchain,” the agency noted. EtherDelta’s users have processed over 3.6 million orders for ERC20 tokens during an 18-month period, including those…

The SEC Stops Accepting Public Comments on Bitcoin ETFs, Takes Time to Make Decision

On November 5, 2018, part of crypto community was expecting to hear an official decision from the US Securities and Exchange Commission (SEC) regarding nine Bitcoin (BTC) exchange-traded funds (ETFs). The statement never came, however, as November 5 was in fact the deadline for the public to submit their comments to the SEC to help the agency review the case. Here’s what you should know about the current situation with crypto-related ETFs in the US. What are Bitcoin ETFs? Cointelegraph has previously covered ETFs and why they are important for…

SEC Streamlining ICOs a Huge Boost for Ethereum

Even though there is a lot of legitimate concerns around the legality of ICOs, the SEC is about to streamline the space creating clear distinction between digital assets that are securities and utilities. Once these guidelines go live then Ethereum as a smart contracting platform and a go-to blockchain for coin issuance could see increasing demand drive prices above key resistance levels. Latest Ethereum News That ICOs are a disruptive but innovative way of raising funds is true. It’s also true—according to previous SEC interpretations that most projects financed in…