Tag: SEC

SEC Clampdown Has Crypto Space Abuzz, Pantera Capital Says We’re in Bull Market, and Much More — Week in Review – The Weekly Bitcoin News

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There’s been no shortage of news in past weeks when it comes to the United States Securities and Exchange Commission (SEC) taking action against crypto exchanges and companies. From Kraken, to Paxos, to Terraform Labs, it seems enforcement is in the air when it comes to chair Gary Gensler’s organization. In other news, South Sudan has reportedly banned U.S. dollar transactions, and crypto-focused investment firm Pantera Capital says we’re in the next bull cycle. All this just below in the latest Bitcoin.com News Week in Review. Binance CEO Warns of…

SEC sues Do Kwon, Paxos ready to litigate, SBF’s VPN: Hodler’s…

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Top Stories This Week Paxos ‘categorically disagrees’ with the SEC that BUSD is a security The United States Securities and Exchange Commission (SEC) has defined the stablecoin Binance USD (BUSD) as a security in a Wells Notice sent to its issuer, Paxos Trust Company. The SEC alleges the organization failed to register BUSD under federal securities laws. The firm, however, “categorically disagrees” with the authority’s view, and it’s prepared to “vigorously litigate” the matter in the U.S. courts. Also this week, Paxos was given directions from the New York Department…

Do Kwon removed 10K Bitcoin from Terra after collapse — Takeaways from SEC complaint

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A complaint filed by the United States Securities and Exchange Commission said Terra co-founder Do Kwon and Terraform Labs laundered more than $100 million worth of Bitcoin from the platform following its collapse in May 2022. According to the SEC complaint filed in the U.S. District Court for the Southern District of New York on Feb. 16, Kwon and Terraform have transferred more than 10,000 Bitcoin (BTC) from the platform and the Luna Foundation Guard to a cold wallet, then to a Swiss bank account to convert to fiat. The…

SEC chair issues warning to celebrities promoting crypto amid latest enforcement action

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The United States Securities and Exchange Commission has announced a $1.4-million settlement with former NBA player Paul Pierce for allegedly promoting a token project on social media. In a Feb. 17 announcement, the SEC said Pierce touted EthereumMax (EMAX) tokens through social media channels without disclosing he had received payment for the promotion and made “false and misleading statements” regarding the project. According to the SEC, promoters paid the former NBA star $244,000 worth of EMAX in addition to him posting messages allegedly showing misleading information about profits on Twitter.…

NBA Hall of Famer Paul Pierce Charged by SEC for Touting EMAX Tokens – Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) has charged Basketball Hall of Famer Paul Pierce for touting EMAX tokens and making misleading comments about unregistered crypto securities. The former Boston Celtics small forward agreed to settle the charges and pay the SEC $1.409 million. SEC Chair Gary Gensler Wants to Remind Celebrities of Disclosure Laws The U.S.’s top securities regulator has charged former Boston Celtics forward Paul Pierce for unlawfully touting the cryptocurrency project called Ethereummax and the token EMAX. The Securities and Exchange Commission’s charges against Pierce follow an…

SEC Sues Former NBA Star Paul Pierce Over EthereumMax Promos

In a release Friday, the SEC said Pierce had been paid $244,000 in EMAX tokens, but did not disclose the payments while marketing the project on Twitter. He also allegedly suggested he held a large amount of EMAX tokens through screenshots, despite his holdings being “much lower” than what he displayed. Pierce will pay $1.409 million in penalties and disgorgement. Source EthereumMaxNBAPaulPiercePromosSECStarSues CryptoX Portal

SEC going after Terra sparks responses from crypto lawyers: ‘Wild’

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Terraform Labs and its founder Do Kwon being in the sights of the United States Securities and Exchange Commission (SEC) have sparked various reactions from lawyers within the crypto community.  On Feb. 16, the SEC accused and charged Kwon and Terraform Labs for allegedly selling a “suite of crypto asset securities.” While community members are not defending Kwon for his actions, they are questioning the manner in which the SEC is going after Terra and its founder. Web3 lawyer Mike Selig posted his thoughts on the issue on Twitter. According…