Tag: SEC

Crypto Lender Genesis Files for Bankruptcy Following SEC Lawsuit – Featured Bitcoin News

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Crypto lender Genesis, a subsidiary of Digital Currency Group (DCG), has filed for Chapter 11 bankruptcy. The filing followed a lawsuit brought by the U.S. Securities and Exchange Commission (SEC). Genesis claims to have “ample liquidity to support its ongoing business operations and facilitate the restructuring process.” Genesis’ Bankruptcy Filing Genesis Global Holdco LLC, a prime brokerage subsidiary of venture capital firm Digital Currency Group (DCG), announced Friday that it has voluntarily filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Southern District of New York. The…

Nexo Agrees to Pay $45 Million to SEC and State Regulators for Unregistered Offering of Earn Interest Product – Bitcoin News

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The cryptocurrency lender, Nexo, has agreed to pay $45 million to the U.S. Securities and Exchange Commission (SEC) and several state regulators after charges were levied against the firm for failing to register the company’s Earn Interest Product (EIP). Nexo detailed that the settlements are on a “no admit, no deny” basis and that the arrangement “closes all multi-year-long inquiries into Nexo.” Nexo Pays $22.5 Million to SEC, $22.5 Million to Several State Regulators for EIP Offering On Jan. 19, 2023, Nexo announced that it has agreed to settle with…

Ripple CEO ‘Optimistic’ About SEC Lawsuit Over XRP — Says ‘I Feel Very Good About Where We Are’ – Regulation Bitcoin News

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Ripple CEO Brad Garlinghouse says that he is “optimistic” that the Securities and Exchange Commission (SEC) lawsuit over xrp “will certainly be resolved in 2023.” He added that it could even be resolved in the first half of this year. “I feel very good about where we are relative to the law and the facts, the Ripple executive said. Ripple CEO Feels ‘Optimistic’ About SEC Lawsuit The CEO of Ripple Labs, Brad Garlinghouse, shared his view on the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) over the…

Nexo agrees to $45M settlement with SEC and NASAA over earn product

Crypto lender Nexo Capital has agreed to pay $45 million in penalties to the United States Securities Exchange Commission (SEC) and The North American Securities Administrators Association (NASAA) for allegedly failing to register the offer and sale of its Earn Interest Product (EIP). The news was announced by the SEC and NASAA in two separate statements on Jan. 19. According to a statement from the SEC, Nexo agreed to pay a $22.5 million penalty and cease its unregistered offer and sale of the EIP to U.S. investors. The additional $22.5…

Nexo agrees to $45M settlement with SEC and states over earn product

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Crypto lender Nexo Capital has agreed to pay $45 million in penalties to the U.S. Securities and Exchange Commission (SEC) and the North American Securities Administrators Association (NASAA) for failing to register the offer and sale of its Earn Interest Product (EIP). The news was announced by the SEC and NASAA in two separate statements on Jan. 19. According to the statement from the SEC, Nexo agreed to pay a $22.5 million penalty and cease its unregistered offer and sale of the EIP to U.S. investors. The additional $22.5 million…

Ripple Boss Speaks about Prolonged SEC Battle at WEF

The Ripple boss hinted some optimism, stating that there may finally be a resolution to its legal battle with the SEC. While Ripple remains entangled in its legal battle, the company’s CEO Brad Garlinghouse recently mentioned some emails from the Security and Exchange Commission (SEC) while speaking at the World Economic Forum (WEF). The event in Davos recorded many industry leaders and government officials in attendance, discussing different topics across multiple sectors. Ripple Boss on SEC Case at 2023 WEF The emails came specifically from SEC Director Bill Hinman. Speaking…

XRP lawsuit resolved by June, SEC conduct ’embarrassing’

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Ripple CEO Brad Garlinghouse expects the firm’s long-running dispute with the Securities Exchange Commission (SEC) will be finalized within “single-digit months” and remains confident in securing a favorable outcome. Speaking to CNBC on Jan. 18 at the World Economic Forum in Davos, Switzerland, Garlinghouse said the verdict could come as soon as June this year now that both parties have “fully filled and fully briefed” their arguments before the U.S. District Court: “We expect a decision from a judge certainly in 2023. You don’t really have control over when a…

Thailand SEC Issues Regulations for Crypto Custody Providers

The regulations took affect on Monday and offer policy and guidelines for overseeing the management of digital wallets and keys plus procedures for designing digital wallets. The regulation also sets out the need for a contingency plan in case an event occurs that could affect the management system of digital wallets and keys. Source

Here’s How US SEC Released Personal Information of Crypto Miners during Investigation

The SEC has reportedly violated its own privacy act while disclosing information of miners on the Green blockchain network. During their recent investigation, the United States Securities and Exchange Commission (SEC) reportedly leaked the names and email addresses of all the crypto miners connected to the blockchain firm Green. On Tuesday, January 17, the Washington Examiner reported that the SEC unintentionally included 650 names and email addresses of miners during its email communication with Green. As a result, it left the blockchain’s nodes vulnerable to hacks. Since then, the securities…