Search Results for: unregistered exchange

Crypto Exchange Bittrex Enters Chapter 11 Bankruptcy Protection Following SEC Lawsuit

by

Bittrex Inc., the U.S.-based cryptocurrency exchange, has filed for Chapter 11 bankruptcy protection in Delaware after being sued by the U.S. Securities and Exchange Commission for failing to register with the regulator. The exchange reportedly has over 100,000 creditors and liabilities…

Do Kwon Challenges SEC’s Jurisdiction in Multibillion-Dollar Crypto Securities Fraud Case

by

Attorneys defending the co-founder of Terraform Labs, Do Hyeong Kwon, also known as Do Kwon, have presented their argument that says the U.S. Securities and Exchange Commission (SEC) has no jurisdiction in the matter. The legal team asserts that U.S. law…

Committee Advises SEC to ‘Aggressively Assert Authority’ Over Crypto — Says Virtually All Crypto Tokens Are Securities

by

The U.S. Securities and Exchange Commission’s Investor Advisory Committee has advised the SEC to “aggressively” assert authority over crypto assets that are securities. The advisory committee believes that “virtually all, if not all, crypto tokens are securities,” urging the regulator to…

SEC Takes Action Against Crypto Trading Platform Beaxy and Its Executives

by

The U.S. Securities and Exchange Commission (SEC) has filed charges against crypto trading platform Beaxy and its executives. Additionally, the regulator alleged that the cryptocurrency exchange’s founder raised $8 million in an unregistered crypto token offering and “misappropriated at least $900,000…

NBA Hall of Famer Paul Pierce Charged by SEC for Touting EMAX Tokens

by

The U.S. Securities and Exchange Commission (SEC) has charged Basketball Hall of Famer Paul Pierce for touting EMAX tokens and making misleading comments about unregistered crypto securities. The former Boston Celtics small forward agreed to settle the charges and pay the…

US Judge Dismisses Customer Lawsuit Against Crypto Exchange Coinbase

by

A U.S. district judge has dismissed a lawsuit against Coinbase and its CEO Brian Armstrong filed by customers of the crypto exchange. The lawsuit alleges that Coinbase sold 79 crypto tokens that are unregistered securities. Customer Lawsuit Against Coinbase Dismissed A…

Digital Currency Group Suspends Dividends Amid Regulatory Trouble With Subsidiary Genesis

by

According to a shareholders’ letter from Digital Currency Group (DCG) viewed by finance and crypto publication Coindesk, the company has suspended dividends until further notice. This news follows the U.S. Securities and Exchange Commission (SEC) charging a subsidiary firm of DCG,…

Osprey Vies for Control of Grayscale’s Bitcoin Trust; Tron’s Justin Sun Offers to Invest Up to $1B on DCG Assets

by

Following charges by the U.S. Securities and Exchange Commission against the crypto exchange Gemini and the digital currency lender Genesis, Tron founder Justin Sun told the press that he may be able to purchase assets from Genesis, up to $1 billion,…

SEC Charges Team Behind Coindeal Crypto Fraud That Promised 500,000 Times Investment Returns

by

The U.S. Securities and Exchange Commission (SEC) has charged the team behind Coindeal, a $45 million fraudulent crypto investment scheme. The regulator explained that the defendants falsely claimed that Coindeal “would generate investment returns of more than 500,000 times for investors.”…

Coinbase Secures Regulatory Approval to Operate as a Virtual Asset Service Provider in Ireland

by

Coinbase has announced it has secured regulatory approval as a virtual asset service provider (VASP) in Ireland, according to a company blog post published on Dec. 21. According to the company, Coinbase has been approved by Ireland’s central bank which means…