Thailand’s largest crypto exchange Bitkub has come under regulatory scrutiny from the country’s Securities and Exchange Commission (SEC) over falsifying and creating artificial trading volume on its platform. Thai SEC ordered legal action against the crypto exchange and two individuals alleging the crypto platform was involved in wash trading, a process where investors buy and sell the same assets at the same time in order to manipulate the market by inflating volumes. The latest enforcement action against the leading Thai crypto exchange would be the second penalty for the crypto…
Tag: SEC
Thai SEC Sues Five Entities for Creating Fake Volume Across Two Crypto Exchanges
Thailand’s Securities and Exchange Commission (SEC) has sued five traders for creating artificial volume on crypto exchanges Bitkub and Satang Corporation. Source
Tether’s Former Auditor Fined $1M by SEC for Sloppy Accounting
The SEC’s order, issued last Friday, details sloppy accounting practices that were common at Friedman LLP from 2015 to 2020, including its failure to “respond to fraud risks” and “exercise due professional care and professional skepticism,” among other things, the order said. Original Source AccountingAuditorfinedSECSloppyTethers CryptoX Portal
No plans to register with SEC
The newly appointed CEO of crypto exchange Kraken has stated that he has no plans to register the company with the Securities and Exchange Commission (SEC) or delist any tokens that have been labeled by the SEC as securities. In a Reuters report on Thursday, incoming CEO Dave Ripley said he doesn’t see a reason to register with the SEC as an exchange because it does not offer securities. “There are not any tokens out there that are securities that we’re interested in listing,” he said. However he did not…
New Kraken CEO Says Crypto Exchange Won’t Be Registering With the SEC: Report
The incoming chief executive of crypto exchange Kraken reportedly says that the firm has no plans to register with the U.S. Securities and Exchange Commission (SEC). According to a new report by Reuters, Dave Ripley, who will take the place of current CEO Jesse Powell, says that Kraken won’t register with the SEC as a market intermediary or delist tokens the regulatory agency has deemed to be securities. In July, the SEC reportedly opened an investigation into leading US crypto exchange Coinbase for allegedly offering unregistered securities. At the time,…
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SEC claims ethereum could trigger securities laws after merge
▶ Coinbase Website: Coinbase.com ▶ CEX Website: cex.io #SEC #ethereum #yahoofinance Yahoo Finance’s David Hollerith joins the Live show to discuss ethereum’s merge, the SEC declaring it could have control over the blockchain, and crypto mining. Don’t Miss: Valley of Hype: The Culture That Built Elizabeth Holmes WATCH HERE: Subscribe to Yahoo Finance: About Yahoo Finance: At Yahoo Finance, you get free stock quotes, up-to-date news, portfolio management resources, international market data, social interaction and mortgage rates that help you manage your financial life. Yahoo Finance Plus: With a subscription…
Thailand’s SEC be ready for cryptocurrency industry
The Securities Exchanges Commission of Thailand is preparing to enter the cryptocurrency industry by hiring new employees who are highly skilled in digital assets. The most recent recruitment announcement can be found on the SEC’s official website. It stated that the agency is looking for new employees in positions involving digital assets and financial innovations. Positions for Senior Executive Officer and Executive Officer are available in technology, finance, and laws and regulations. All open positions are linked in cryptocurrency, for example, Developer, System Analyst, IT application support & Quality Assurance,…
Chamber of Digital Commerce gets approval to join the SEC vs Ripple lawsuit
A United States crypto advocacy group, the Chamber of Digital Commerce (CDC), has been granted approval from the Court of Southern District of New York to participate as an amicus curiae in the U.S. Securities and Exchange Commission (SEC) case against Ripple Labs. The status of “friend of the court” permits them to assist a court by providing information, expertise or insight. An order was signed by Judge Analisa Torres on Sept. 21. The CDC shall file its brief by Sept. 26. While explaining its interest in the case, the…
SEC Wants to ‘Remake the Law,’ Rather Than ‘Apply it,’ Says Ripple General Counsel
Was Ripple was singled out among the different projects within the crypto ecosystem? He said the company may have been used by the SEC to set an example. The aftermath, however, led “nearly every U.S. exchange to delist or suspend trading in XRP,” Alderoty said, which erased “$15 billion in market capitalization” from the company and prompted it to move its operations “offshore.” Source