Tag: SEC

SEC accuses Binance US of hampering securities violation probe

The U.S. Securities and Exchange Commission (SEC) has accused Binance US of non-cooperation in a probe into alleged federal securities law violations. The SEC has raised concerns over using Ceffu, a custody service facilitated by the international arm of Binance. They believe this breaches a prior agreement designed to prevent the transfer of assets abroad. The holding company of Binance US, BAM, has reportedly been less than cooperative during the discovery phase, the process where evidence is gathered. According to the SEC, BAM has only submitted around 220 documents, many…

SEC reverses decision on sealing, redacting some documents in Binance.US case

Observers should soon get a look at least some of the sealed documents in the United States Securities and Exchange Commission’s (SEC) case against Binance. The documents were sealed at the SEC’s request with the agreement of both sides, and are being unsealed at the request of the SEC itself. District of Columbia District Court Magistrate Judge Zia Faruqui issued an order Sept. 15 granting the SEC’s motion to unseal the documents. The order lists 18 sealed documents and another nine partially sealed or redacted documents. Filing of sealed documents…

Artist Stages Crypto Protest In Front Of SEC With “Rug Pull” Exhibit

boss

Two years ago, controversial artist Nelson Saiers sparked a debate when he erected a massive inflatable rat outside the US Federal Reserve building in New York; now, the creator takes another jab at a US institution with a new crypto art exhibition. Crypto Art Exhibition Takes Jab At Scams According to a release shared with NewsBTC, a crypto art installation was placed in front of the US Securities and Exchange Commission (SEC). This time, Nelson Saiers portrayed a street vendor offering “rug pulls.” In this latest protest exhibition, Saiers highlighted…

Binance.US not cooperating with investigation, US SEC says in filing

boss

The United States Securities and Exchange Commission (SEC) has accused Binance.US of non-cooperation in the ongoing investigation against the crypto exchange, according to a court filing dated Sept. 14. The SEC in its court filing noted that Binance.US’s holding company called BAM has produced only 220 documents during the discovery process. Many of the submitted documents under the Consent Order “consist of unintelligible screenshots and documents without dates or signatures.” SEC added that BAM has refused to produce essential witnesses for deposition, instead agreeing only to four depositions of witnesses…

Two more top executives depart Binance.US amid layoffs, SEC action: Report

boss

Two more top executives are leaving Binance.US, one day after the departure of CEO Brian Shroder and the layoff of a third of its staff, The Wall Street Journal reported. Binance.US is the United States offshoot of the international cryptocurrency exchange. Head of legal Krishna Juvvadi and chief risk officer Sidney Majalya were said to be leaving. Juvvadi was hired in May 2022, coming from Uber, where he was global head of compliance. Majalya joined the company in December 2021 after being Intel’s chief compliance officer. Before Intel, he, too,…

Mila Kunis and Ashton Kutcher’s ‘Stoner Cats’ Indicted by SEC Over Unregistered Securities Offering

The SEC said Stoner Cats violated the Securities Act of 1933 by selling NFTs that qualify as investment contracts. Stoner Cats has agreed to a refund. The United States Securities and Exchange Commission (SEC) continues its widespread crackdown by going after “Stoner Cats”, an NFT-based web series from Hollywood couple Ashton Kutcher and Mila Kunis. According to the SEC, the NFTs qualify as unregistered securities. An SEC press release states that Stoner Cats sold over 10,000 NFTs for about $800 each. Upon purchase, the owner of the NFT exclusively accessed all six…

SEC Charges Stoner Cats With Alleged Unregistered $8 Million Securities Sale In NFT Crackdown

boss

In a recent move that intensifies the Securities and Exchange Commission’s (SEC) crackdown on the Non-Fungible Token (NFT) sector, the SEC has charged Stoner Cats 2 (SC2) with conducting an “unregistered offering of crypto asset securities.”  The charges specifically target Stoner Cats’ sale of non-fungible tokens, which raised approximately $8 million from investors to finance the production of an animated web series. SEC’s Legal Earthquake Hits NFT Market Once Again  The SEC order reveals that on July 27, 2021, SC2 sold over 10,000 NFTs to investors at approximately $800 each,…

This Latest Move Suggests SEC Lawsuit Against Ripple Is Pushing The Crypto Firm Outside The US

boss

Ripple may be in the process of leaving the United States market for good as the prominent crypto firm has stated that it will be acquiring the majority of its employee candidates from countries outside the US.  Ripple Will Recruit A Workforce Overseas US-based cryptocurrency solutions provider, Ripple has enacted plans to conduct its hiring processes outside US borders. The cryptocurrency firm has stated that over 80% of its workforce will be recruited from countries outside the US that encourage crypto adoption and innovation. The decision to hire the majority…