SEC
SEC typically refers to U.S. Securities and Exchange Commission which "protects investors in the $3.8 trillion municipal securities markets that cities and towns rely on to provide neighborhood schools, local libraries and hospitals, public parks, safe drinking water and so much more". But it can also refer to the security and exchange regulation bodies of other countries.
SEC Charges Stoner Cats Over NFT Offerings
The U.S. Securities and Exchange Commission (SEC) has accused Stoner Cats 2 LLC of conducting an unregistered crypto asset securities offering, involving non-fungible tokens (NFTs) to raise funds for an animated web series. SC2 successfully raised $8 million, with the SEC finding SC2 had set up a 2.5 percent royalty strategy and encouraged trading.
Commissioners Dissent on SEC's NFT Enforcement Action on Stoner Cats 2, LLC
The Securities and Exchange Commission (SEC) has dissented on its enforcement action against Stoner Cats 2, LLC's non-fungible token (NFT) settlement. The Commissioners argue that the Howey investment contract analysis lacks a limiting principle and could stifle artists' creativity due to legal uncertainties. They call for clear guidelines for artists and creators using NFTs to support their creative endeavors and engage with fan communities.
Will the Binance.US CEO's Resignation Trigger a Domino Effect?
Binance.US, the American subsidiary of the global cryptocurrency exchange, has experienced significant staffing changes, including the departure of CEO Brian Shroder and the elimination of around 100 positions. The company is also facing legal actions from the SEC and the Commodity Futures Trading Commission, as well as a decline in market share. The cryptocurrency community is concerned about the future of Binance and its potential demise, with WhaleWire warning of a larger explosion than FTX's.
Linus Financial Settles SEC Charges Over Unregistered Crypto Lending Product
The SEC has settled charges against Linus Financial for failing to register its Linus Interest Accounts, a crypto lending product. The SEC deemed the accounts securities and made registration mandatory. Linus voluntarily stopped offering the accounts to new investors and requested fund retrieval.
SEC's XRP and Grayscale Bitcoin ETF Cases Challenged by US House Majority Whip Tom Emme
House Majority Whip Tom Emmer criticizes the US Securities and Exchange Commission's (SEC) approach to cryptocurrency regulation, citing legal losses against Ripple and Grayscale. Emmer questions the agency's treatment of Bitcoin futures ETFs and spot ETFs, adding to ongoing debate.
Why Grayscale's SEC Victory Is Unlikely to Benefit Bitcoin and Crypto Markets in the Long Run
The US Court of Appeals ruled in favor of Grayscale Investments, ordering the SEC to review its Bitcoin ETF application. This decision has boosted Bitcoin prices but may not provide long-term benefits due to inconsistent market reactions and declining trading volumes.
Archipelago Trading Services Settles with SEC for $1.5 Million Over Unfiled SARs
Archipelago Trading Services Inc. will pay $1.5 million to the SEC for failing to file hundreds of Suspicious Activity Reports between 2012 and 2020, despite daily high-risk transactions.
Bitcoin Surges Past $28,000 and GBTC Discount Narrows to 17%
Bitcoin's value surged to $28,142 on Binance after Grayscale Investments won a lawsuit against the SEC, converting its Grayscale Bitcoin Trust into an ETF.
SEC Charges Impact Theory for Unregistered NFT Sales
Impact Theory, a Los Angeles-based company, has been charged by the SEC with violating federal securities laws by offering unregistered NFTs as investment contracts.
Washington D.C. Attorney Faces SEC Insider Trading Charges
Romero Cabral da Costa Neto, a visiting attorney at a global law firm, has been charged with insider trading by the SEC, alleging he accessed confidential information about Swedish Orphan Biovitrum's acquisition of CTIC and purchased over 10,000 shares.
SEC's Chair Gary Gensler Issues Statement on Amendments to Broker-Dealer Registration Rule
The U.S. Securities and Exchange Commission (SEC) is amending Rule 15b9-1, allowing broker-dealers to bypass national securities associations like FINRA. The changes aim to ensure consistent oversight, particularly in cross-market and off-exchange activities, and promote transparency and efficiency in the capital markets, benefiting investors.
Blazar Token Scam: Former New Jersey Corrections Officer Charged by SEC
Former New Jersey State Correctional Police Officer John A. DeSalvo has been charged with fraudulently raising funds through the unregistered offering of the Blazar Token, a crypto asset security. The token, which collapsed in May 2022, was marketed as a replacement for state pension systems. DeSalvo misused investor funds, transferring a large portion to his personal wallets.
SEC Charges Titan Global Capital Management for Misleading Advertisements and Compliance Failures
On Aug 21, 2023, the SEC charged Titan Global Capital Management for misleading ads and compliance failures. Titan advertised a 2,700% annualized return, omitting key details. They'll pay $1.04M in penalties and disgorgement.
Gemini Responds to SEC Lawsuit Over Alleged Unregistered Securities
Gemini has filed a reply brief to a US SEC lawsuit alleging that its service, Gemini Earn, violated securities regulations by offering unregistered securities. Gemini's legal defense, represented by JFB LEGAL, PLLC and SHEARMAN & STERLING LLP, argues that the complaint lacks concrete evidence and is based on "conclusory statements."
SEC Could Approve All Ethereum ETFs Concurrently
SEC may greenlight multiple Ethereum ETFs at once, signaling a shift in U.S. crypto regulation. Key players like Volatility Shares & Valkyrie await decisions.
