Tag: SEC

Simplify Files Application With SEC for Web 3 ETF

Simplify Asset Management has filed an application with the U.S. Securities and Exchange Commission (SEC) for an exchange-traded fund (ETF) focused on Web 3. In a filing Wednesday, Simplify said the “Simplify Volt Web 3 ETF” would trade under the ticker symbol “WIII” and track Web 3 companies that are expected to benefit from technology infrastructure. The fund would not invest directly in cryptocurrencies but will allocate up to 10% of its total assets in the Grayscale Bitcoin Trust. Grayscale is a unit of Digital Currency Group, which is also…

SEC Chair Gensler Discusses How Securities Laws Apply to Crypto Tokens — Won’t Say if Ethereum Is a Security – Regulation Bitcoin News

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The chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has explained how securities laws apply to cryptocurrency tokens as he outlined the commission’s priorities in regulating the crypto space. “Our role at the SEC is to ensure that the public still gets basic protection,” he stressed. SEC Chair Gary Gensler on Cryptocurrency Regulation SEC Chair Gary Gensler discussed cryptocurrency regulation and the agency’s 2022 regulatory agenda on CNBC Monday. The chairman explained that, in general, “If you are raising money from the public, and the public is…

TZERO Settles SEC Charges It Violated Disclosure Rules

TZERO proposed the settlement, which the SEC accepted, according to the order. Under the terms of the settlement, TZERO is neither admitting nor denying the SEC’s findings. This is the SEC’s second enforcement action and settlement in 2022, following a settlement with decentralized prediction market Polymarket earlier this month. Source

SEC Charges Australian ‘Man Behind the Machine’ in $41M Crypto Fraud Scheme – Regulation Bitcoin News

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The U.S. Securities and Exchange Commission (SEC) has charged an Australian citizen who called himself the “Man behind the Machine” in a fraudulent crypto scheme that raised almost $41 million. He and his companies made “materially false and misleading statements in connection with an unregistered offer and sale of digital asset securities.” ‘Man Behind the Machine’ Charged by SEC The SEC announced Thursday charges against Australian citizen Craig Sproule and two companies he founded for “defrauding Investors.” The two companies are Crowd Machine Inc. and Metavine Inc. The SEC alleged…

Institutional Investors Say SEC Having More Power to Regulate Crypto Will Boost Prices – Regulation Bitcoin News

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Institutional investors are optimistic about the U.S. Securities and Exchange Commission (SEC) having more power to regulate the crypto market, a recent survey shows. They believe that if the SEC is granted extra powers, the prices of cryptocurrencies will be positively impacted. What Institutional Investors Think About Crypto Nickel Digital Asset Management, a regulated European digital asset hedge fund manager, recently released a report on the institutional adoption of crypto assets. The report includes a survey and interviews with 50 wealth managers and 50 institutional investors across the U.S., the…

The SEC Files A Strike Against Ripple’s Defense. Could It Drown XRP?

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The U.S. Securities and Exchange Commission (SEC) made a surprise attack on the Ripple case by filing a letter of supplemental authority to strike Ripple’s “fair notice” defense. Simultaneously, the token XRP is down 2.33% in the last 24 hours to $0.7 following the market’s downtrend. The SEC’s Surprise Move As the popular SEC vs. Ripple case is expected to be resolved around April this year, the SEC has made a new move that left many wondering if previous expectations could change. The American regulator is using a winning move…

SEC files complaint against operator of ‘unregistered’ $33M Crowd Machine ICO

The United States Securities and Exchange Commission (SEC) has filed a suit against Australian Craig Derel Sproule for the allegedly “fraudulent and unregistered” sale “of digital asset securities” in an Initial Coin Offering his company conducted in 2018. The SEC alleges in a Jan. 6 complaint that Sproule’s company, Metavine, Inc. which operated the ICO for Crowd Machine (CMCT) from Jan. to April 2018, sold unregistered securities, never made the project operational and “materially misrepresented how it intended to use ICO proceeds.” In total, the SEC says Sproule raised at…

SEC Charges Founder of Crypto Startup Crowd Machine With Fraud

“As alleged, Sproule and Crowd Machine misled investors about how they were using ICO proceeds, spending funds on an entirely unrelated scheme,” Kristina Littman, Chief of the SEC Enforcement Division’s Cyber Unit said in the statement. “We will continue to hold accountable issuers of digital asset securities who fail to provide fulsome and truthful disclosure to the public,” she added. Source

Bitcoin ETF decision delayed, SEC commissioner wonders why

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The United States Securities and Exchange Commission has postponed its decision to approve NYDIG’s spot exchange-traded fund (ETF) for Bitcoin (BTC), delaying until March 16. In a notice published on Tuesday, the SEC found it “appropriate to designate a longer period within which to issue an order approving or disapproving” the ETF. Upon the news, BTC’s price didn’t flinch, remaining in its tightly coiled range under $47,000. In a promising turn of events, an SEC bigwig has been vocal in support of a spot ETF. While crypto enthusiasts are used to…

SEC Delays Decision on NYDIG’s Spot Bitcoin ETF Proposal

The Securities and Exchange Commission (SEC) has extended the time period for ruling on NYDIG’s proposal for a spot bitcoin ETF by 60 days in order to have “sufficient time to consider the proposed rule change and any comments received.” The SEC’s original deadline was Jan. 15, so now it has until March 15 to make a decision. In recent months, the SEC has rejected spot bitcoin ETF proposal from a number of investment companies, including Van Eck, WisdomTree and Kryptoin. It also recently delayed its decisions on spot bitcoin…