The SEC and DOJ brought insider trading charges against three people Thursday, but assertions that nine cryptocurrencies are securities may hold greater implications. Source
SEC Calls 9 Cryptos 'Securities' in Insider Trading Case
Tag: SEC
Thai SEC Asks Zipmex to Clarify Withdrawal Freeze
The Thai Securities and Exchange Commission (SEC) has sent a request to cryptocurrency exchange Zipmex to clarify the recent withdrawal freeze. Source
SEC objects to XRP holders aiding Ripple defense
The Securities and Exchange Commission (SEC) is attempting to block XRP holders from aiding in Ripple’s defense, and prohibit attorney John E. Deaton from any further participation in proceedings. In its official objection submitted on July 19, the regulator opposed the decision to recognize 1,746 XRP holders as “amici curiae” along with attorney John E. Deaton. Amici (plural: amici curiae) means “friend of the court” — an individual or organization not a party to a legal case but is permitted to assist a court by providing information, expertise, or insights. …
US senator blasts SEC for non-judicial actions against crypto companies
Tom Emmer, the Republican Senator from Minnesota, has become the latest politician to blast the United States Securities and Exchange Commission (SEC) for its unethical actions against crypto companies. Emmer posted a video on Tuesday showing his conversation at the House Committee on Financial Services, where he accused the SEC of politicizing regulations. He went on to grill SEC Enforcement Director Gurbir Grewal over SEC’s unethical “industry sweeps” against crypto companies. The SEC Director of Enforcement admits the SEC is cracking down on companies outside its jurisdiction. Absolutely unacceptable. pic.twitter.com/wRQU54Ov6v…
SEC Enforcement Head Asks Congress for More Resources to Tackle Crypto Issues
In May, the SEC nearly doubled the size of its Crypto Assets and Cyber Unit to 50 employees, adding 20 new positions including attorneys, investigators and fraud analysts to its Washington, D.C., headquarters. But as the agency continues to ramp up its efforts to police the crypto industry – and the industry is hit with a wave of high-profile bankruptcies – Grewal says he needs more staff. Source
US lawmaker criticizes SEC enforcement director for not going after ‘big fish’ crypto exchanges
Brad Sherman, the congressperson who previously called for banning cryptocurrencies in the United States, criticized the Securities and Exchange Commission’s (SEC) approach to enforcement among major crypto exchanges. In a Tuesday hearing before the House Committee on Financial Services, Sherman said SEC enforcement director Gurbir Grewal needed to show “fortitude and courage” when pursuing securities cases against cryptocurrency exchanges in the United States. The lawmaker added that the SEC enforcement division had “gone after” XRP as a security, but not the crypto exchanges that processed “tens of thousands” transactions of…
US Senator Says Too Many Crypto Firms Are Able to Scam Customers — Urges SEC to Regulate – Regulation Bitcoin News
U.S. Senator Elizabeth Warren says that “too many crypto firms have been able to scam customers and leave ordinary investors holding the bag while insiders make off with their money.” She stressed the need for stronger rules, urging the Securities and Exchange Commission (SEC) and Congress to take action on crypto regulation. U.S. Senator Says Crypto Needs Stronger Regulation U.S. Senator Elizabeth Warren (D-MA) voiced her concerns about cryptocurrency investing in an interview with Yahoo Finance Live last week after several crypto firms filed for bankruptcy protection. Calling on the…
Gary Gensler Outlines What to Expect From SEC on US Crypto Regulation – Regulation Bitcoin News
The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has outlined what to expect from the securities watchdog on crypto regulation. “We do have robust authorities from Congress also to use our exemptive authorities that we can tailor investor protection,” he explained. Chair Gensler Highlights SEC’s Work on Crypto Regulation SEC Chairman Gary Gensler outlined what to expect from his agency on U.S. crypto regulation Thursday in an interview with Yahoo Finance Live. He was asked, “What can we expect from the SEC in the coming months…
SEC Fines John McAfee’s Associate $375K in Penalties for ICO Promotions – Bitcoin News
Jamie Redman Jamie Redman is the News Lead at Bitcoin.com News and a financial tech journalist living in Florida. Redman has been an active member of the cryptocurrency community since 2011. He has a passion for Bitcoin, open-source code, and decentralized applications. Since September 2015, Redman has written more than 5,700 articles for Bitcoin.com News about the disruptive protocols emerging today. Original
SEC dismisses claims against John McAfee, fines accomplice for ICO promo
The United States Securities and Exchange Commission (SEC) obtained the final judgment for an initial coin offering (ICO) promotion scheme against late entrepreneur John McAfee and accomplice Jimmy Gale Watson, Jr., filed on October 5, 2020. In the original complaint, the SEC alleged that McAfee and Watson promoted ICO investments on Twitter without disclosing that they were paid for them. Watson allegedly assisted McAfee in negotiating promotional deals with ICO issuers and cashing out the crypto payments, among other pump-and-dump charges. The U.S. District Court for the Southern District of…