Tag Archives: sec

The Office of the Comptroller of the Currency (OCC) is turning out to be the greatest supporter of the US cryptocurrency industry.Yesterday, the banking regulator issued a letter that greenlighted national banks and federal savings associations to hold “reserves” on behalf of stablecoin issuers. The stablecoins in the discussion are fiat-collateralized, i.e., backed by the US dollar or fiat currency of any other nation.US Banks Allowed To Hold Reserve Funds For Stablecoin IssuersOn Monday,...

The Securities and Exchange Commission (SEC) has settled charges with a company known as Unikrn, Inc. The company is believed to have offered its new token through an unregistered offering.The SEC: Our Rules Could Be More UnderstandableThe crypto space is certainly no stranger to stories like this, and as of late, the agency appears to be very strict when it comes to exacting the appropriate penalties on crypto companies that don’t follow the rules and regulations in place.However, the SEC is...

Rapper T.I. is being hit with felony charges from the Securities and Exchange Commission (SEC). He has been ordered to pay a penalty fee of $75,000 for his role in a scam-laden initial coin offering (ICO).The SEC Goes After T.I.The SEC has made it clear over the past few years that it’s not going to play around. If you try to cheat investors, if you fail to register as a security, if you step out of line in any way, the agency will come after you and it will penalize you. It seems that the...

The U.S. SEC has fined Atlanta-based rapper Clifford Harris Jr, better known as T.I, along with other individuals for their involvement in two fraudulent initial coin offering (ICO) projects.T.I, Others Pay $125K in PenaltiesAccording to a press release by the U.S. Securities and Exchange Commission (SEC) on Friday (September 11, 2020), T.I, along with businessman Ryan Felton and three other individuals based in Atlanta, were involved in a fake pump and dump ICO scheme. The rapper was cleared...

Fidelity Investments, an asset management company with about $2.7 trillion of assets under management, will reportedly launch its first Bitcoin-only fund.The product is oriented toward family offices, registered investment advisers, as well as other institutions and will require a minimum investment of $100,000.Fidelity Puts Its Name to a Bitcoin FundFidelity Investments is the world’s 5th largest asset management company with $2.7 trillion worth of assets under management according to...

Analysts are still struggling to make sense of the situation surrounding both cryptocurrency and the presence of institutional traders.Institutional Traders May Not Have to List All Their AssetsThe good news is that more institutional players have become involved with crypto in recent years. New evidence from the likes of companies such as Grayscale suggest that, considering the platform has recorded more than $1 billion in BTC investments for its third quarter. This means that more than $300...

The move has been seen as extremely positive for the crypto industry as her nickname is ‘crypto mom’. The Senate Banking Committee cleared Peirce’s nomination on Wednesday, extending her term until 2025.Pro Crypto SEC CommissionerPeirce is very pro-crypto and fintech innovation, commenting last month that it is “going to be here to stay and I would like us to set up a regulatory framework that works well for crypto”. She has also stated that she wants to try to work on the Commission’s...

The large cryptocurrency asset manager Grayscale Investments has filed a Registration Statement on Form 10 with the Securities and Exchange Commission (SEC) for its Grayscale Ethereum Trust. Should the application be successful, the ETH Trust will be the second company product designated as a digital asset investment vehicle reporting to the SEC after the Grayscale Bitcoin Trust. Grayscale ETH Trust Files For Form 10 With The SEC Also known as the General Form for...

Thailand is a growing cryptocurrency hub. The country has just approved six new cryptocurrency exchange licenses to permit the further growth of digital trading within the nation’s borders.Thailand Is the New Home of Crypto LoversAsian regions have long been huge cryptocurrency advocates. Despite a lengthy period of debate over whether to ban bitcoin and crypto mining, China eventually gave in and permitted the practice, citing that it’s effects on the environment were not as strong or as...

The Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have charged both Abra and Plutus Technologies for swapping securities and selling unregistered shares to retail customers. Both companies have agreed to settle the charges and pay fees of more than $150,000 each to clear their names.Abra Agrees to SettleIn a statement, Daniel Michael – chief of the SEC Enforcement Division’s Complex Financial Instruments Unit – explained:Businesses cannot ignore...