UNREGISTERED SECURITIES
Genesis Agrees to $21 Million SEC Settlement in Bankruptcy Resolution Effort
Genesis Global settles with the SEC for $21 million over unregistered securities sales allegations, aiming to mitigate legal challenges and focus on repaying customers amid bankruptcy proceedings. The agreement, pending a February 14 hearing, marks a significant step towards resolving the company's financial and legal hurdles.
SEC Ties Terraform Ruling to Binance in Securities Violations and Deceptive Practice Case
SEC links Terraform Labs ruling to Binance case, alleging unregistered securities offerings and deceptive practices in crypto trading.
Debt Box vs SEC: Court Reverses Asset Freeze, Raises Questions on SEC's Conduct
Debt Box is suing the SEC for misrepresentation of evidence in obtaining an asset freeze, citing potential sanctions for misleading arguments.
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."
Coinbase Faces $5M Penalty from New Jersey Securities Bureau and SEC Charges, Stock Tumbles 20%
The New Jersey Bureau of Securities has issued a Summary Cease and Desist Order against leading cryptocurrency exchange Coinbase, Inc. for allegedly offering unregistered securities tied to its cryptocurrency staking services. The Bureau has further levied a hefty penalty of $5 million against Coinbase.
Coinme Fined $4 Million by SEC
Crypto exchange Coinme has been fined $4 million by the US Securities and Exchange Commission (SEC) for offering unregistered securities and making "misleading statements" regarding its token, UpToken.
Terraform Labs co-founder defends against SEC allegations
Do Kwon, co-founder of Terraform Labs, has defended himself against allegations of fraud from the US Securities and Exchange Commission (SEC). Kwon’s lawyers have requested the dismissal of the lawsuit, claiming that the SEC's allegations are unfounded and that US law prohibits regulators from asserting jurisdiction over the digital assets in question. The lawyers also argued that the SEC failed to prove Kwon’s involvement in the collapse of Terra’s stablecoin, UST.
Terraform Labs Co-Founder Argues Against SEC Lawsuit
Terraform Labs co-founder, Do Kwon's lawyers have argued in court against the SEC's lawsuit for illegally offering unregistered securities. The lawyers claim the SEC's acquisitions are unfounded and that the stablecoin in question is a currency, not a security. Additionally, Kwon's arrest and subsequent extradition remain uncertain.
SEC Charges App Developer Abra for Unregistered Security-Based Swaps
Abra and Plutus Tech have agreed to a cease-and-desist order and a combined penalty of $150,000 after being charged by the Securities and Exchange Commission for selling unregistered security-based swaps to investors in 2019.