The U.S. Securities and Exchange Commission (SEC) sued internet marketer Richard Schueler, known online as Richard Heart, and his projects Hex, PulseChain and PulseX, alleging he raised over $1 billion across three different unregistered securities offerings. Source
After a shocking revelation by CEO Brian Armstrong, Coinbase, the Nasdaq-listed crypto exchange, saw its share price plummet by more than 10%. The reason: a controversial request from the US Securities and Exchange Commission (SEC) prior to the lawsuit against Coinbase. The SEC’s demand? That Coinbase halts trading in all cryptocurrencies other than Bitcoin. Brian Armstrong, Coinbase’s CEO, revealed the SEC’s absurd request in an exclusive interview with the Financial Times. “They came back to us, and they said . . . we believe every asset other than Bitcoin is a security,” Armstrong…
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The US Securities and Exchange Commission (SEC) asked Coinbase to halt all crypto trading operations except for Bitcoin (BTC). Financial Times (FT) report cites the San Francisco-based crypto exchange Coinbase’s CEO Brian Armstrong. He claims that SEC’s request came prior to the regulator’s lawsuit against the exchange. On July 6, SEC sued Coinbase for allegedly operating in the US without having the necessary registrations. Moreover, Armstrong believes that the agency’s demand to halt all digital asset…
Crypto exchange Coinbase was once told by the United State securities regulator to delist all cryptocurrencies on its platform except for Bitcoin (BTC), according to CEO Brian Armstrong. In a July 31 interview with the Financial Times, Armstrong revealed that the U.S. Securities and Exchange Commission wanted the exchange to delist the nearly 250 tokens on its platform prior to it filing a lawsuit against the exchange. At the time, the SEC reportedly said it believes “every asset other than Bitcoin is a security,” said Armstrong. “We said, well how…
“They came back to us, and they said . . . we believe every asset other than bitcoin is a security,” Armstrong said according to the FT. “And, we said, well how are you coming to that conclusion, because that’s not our interpretation of the law. And they said, we’re not going to explain it to you, you need to delist every asset other than bitcoin.” Original
U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is once again sounding the alarm on crypto exchanges, saying that the platforms are not working in the best interests of their users. In a new Bloomberg interview, Gensler says that companies issuing crypto tokens are not being 100% honest with their investors. The SEC chair zeroes in on crypto exchanges, saying that the centralized platforms are operating in an unacceptable manner by taking advantage of their users. “A lot of investors should be aware, it’s not only a highly speculative…
Pro-XRP lawyer, John Deaton, has said that the actions taken by the United States Securities and Exchange Commission (SEC) against the crypto industry are driven by a broader motive to safeguard corporate capitalism rather than prioritizing the protection of investors. Deaton highlighted what he views as an assault on cryptocurrencies, particularly in relation to the SEC’s actions targeting Coinbase and Ripple. In his remarks, he touched on several aspects, such as the accredited investor rules, the SEC’s approach to regulating cryptocurrencies and its position concerning retail investors in the Ripple…
The U.S. Securities and Exchange Commission (SEC) suffered another setback on July 28 as the D.C. Circuit overturned a ruling by the regulator ordering that SPIKES Index securities should be treated as ‘futures’ rather than as ‘securities futures’. The judge panel called the SEC order “arbitrary and capricious.” The decision relates to an order from 2020, in which the SEC exempted SPIKES Index — a stock volatility index — from the definition of security futures, thus eliminating heavy taxes and other regulatory requirements attached to the term ‘security’. The relief,…
The U.S. Securities and Exchange Commission (SEC) issued a warning to accountants this week, cautioning them to avoid partaking in misrepresented “audits” for crypto firms. Paul Munter, the chief accountant at the SEC, says in a new statement that crypto exchanges and other digital asset companies have been tapping accounting firms to review parts of their businesses and then passing those partial reviews off as “audits.” “As accounting firms increasingly engage in this sort of non-audit work, their clients’ marketing and terminology risks misleadingly suggesting that these alternative, non-audit arrangements…
The United States Securities and Exchange Commission (SEC) and Binance have submitted responses regarding the entity “Eeon,” which has sought to intervene on behalf of customers in the SEC’s case against the crypto exchange. According to the U.S. District Court for the District of Columbia, Binance and the SEC objected to Eeon’s request to intervene in the lawsuit, citing that it does not meet the necessary legal requirements for intervention and consent. The SEC claims that Eeon has a history of repeatedly unsuccessfully representing itself in court cases. Screenshot of SEC’s response to…