Tag: SEC

SEC Sues Crypto Exchange Bittrex, CEO for Operating without Registration

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The US securities regulator has charged cryptocurrency exchange Bittrex and William Shihara, its Founder and former CEO, for operating as a national securities exchange, broker and clearing agency without registration. According to US Securities and Exchange Commission (SEC), Bittrex violated registration requirements of the US federal securities law, instructed crypto issuers using its platform to delete certain information that indicated their digital assets were securities, and ran different market intermediary functions under one entity in order to maximize profits. The regulator also filed charges against Bittrex Global GmbH, a foreign…

SEC Charges Crypto Exchange Bittrex With Operating Unregistered Exchange, Broker, and Clearing Agency – Bitcoin News

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After the report revealing that the cryptocurrency exchange Bittrex had received a Wells Notice from the U.S. Securities and Exchange Commission (SEC), the securities regulator charged Bittrex and the company’s CEO on April 17 for “operating an unregistered exchange, broker, and clearing agency.” Following the Wells Notice, SEC Charges Bittrex for Violating Federal Laws On Monday, the U.S. Securities and Exchange Commission (SEC) charged another cryptocurrency exchange, accusing the trading platform Bittrex of operating “an unregistered national securities exchange, broker, and clearing agency.” Since 2014, Bittrex allegedly sold crypto assets…

Bittrex Receives Wells Notice From SEC for Alleged Investor-Protection Law Violations – Regulation Bitcoin News

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According to a recent report, the cryptocurrency exchange Bittrex received a Wells notice from the U.S. Securities and Exchange Commission (SEC) in March, signaling a potential lawsuit. The SEC’s enforcement division sent the Wells notice prior to Bittrex deciding to wind down its operations in the United States. ‘Lack of Regulatory Clarity’ in the U.S. Adds Uncertainty for Cryptocurrency Exchanges On Sunday, April 16, 2023, the Wall Street Journal (WSJ) reported that the cryptocurrency exchange Bittrex was informed of a potential lawsuit and enforcement action in the form of a…

Blockchain platform for trading securities OTC moves forward with SEC approval

A Delaware company is seeking registration with the United States Securities and Exchange Commission (SEC) to carry out over-the-counter (OTC) stock trading on-chain.  BlackStar Enterprise Group has been developing the platform since 2018 and spent almost two years in communication with the regulator, answering dozens of questions and comments from examiners. Recently, the company has taken the next step in providing a detailed plan to the SEC Trading and Market division about how its platforms will be operated. BlackStar CEO Joseph Kurczodyna told Cointelegraph that he sought the SEC’s permission…

Bittrex Set to Face Enforcement Actions from US SEC

It is becoming a trend that the SEC is choosing enforcement actions over dialogue. The United States-based digital currency trading platform Bittrex is likely the next exchange to face enforcement actions from the Securities and Exchange Commission (SEC). According to a report by the Wall Street Journal, the trading platform has received a Wells Notice from the regulator for key aspects of its operations within the country. According to the notice which is typically issued before enforcement action is initiated, Bittrex operated in the United States as an exchange, broker-dealer,…

US crypto exchange Bittrex faces potential action from SEC: Report

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The United States-based cryptocurrency exchange Bittrex is reportedly facing potential action from the U.S. securities regulator despite preparing to shut down local operations. The enforcement division of the U.S. Securities and Exchange Commission (SEC) is inclined to recommend the agency sue Bittrex over alleged violations related to investor protection, The Wall Street Journal reported on April 16. The enforcement unit informed Bittrex about potential action from the SEC in March, Bittrex’s general counsel David Maria reportedly said. By that time, the Seattle-based crypto firm had already started the process of…

Rep. Davidson to introduce legislation to fire SEC boss Gensler for crypto overreach

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Securities and Exchange Commission (SEC) chair Gary Gensler could be facing unemployment after United States Representative Warren Davidson declared he would introduce legislation to fire the SEC boss. In an April 15 tweet responding to Coinbase’s legal chief, Paul Grewal, the crypto-friendly Representative announced his intention to have Gensler removed from his role after the SEC’s latest announcement about revisiting the proposed redefinition of an “exchange.” “To correct a long series of abuses, I am introducing legislation that removes the Chairman of the Securities and Exchange Commission and replaces the…

Chia Network Files for IPO With the SEC, Eyes Public Listing – Bitcoin News

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On Friday, Chia Network Inc. announced that it had submitted a draft registration statement on Form S-1 to the U.S. Securities and Exchange Commission (SEC), requesting an initial public offering (IPO). The blockchain network company, founded by Bittorrent creator Bram Cohen, will initiate the IPO after the U.S. securities regulator approves the filing. Bittorrent Creator’s Chia Aims for an IPO Bram Cohen’s Chia network intends to go public and took a step in that direction on Friday, April 14, 2023, when the firm submitted a Form S-1 filing with the…