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Tag Archives: sec

Bitcoin Back Above $11K For The First Time In 18 Days: The Crypto Weekly Market Update

Another week has passed, and it’s safe to say it was an intense one. First things first, the major headline is that the US Commodity and Futures Trading Commission (CFTC) charged the owner-operators of 100x Group, the parent company of BitMEX, with illegally running a derivatives exchange.Needless to say, BitMEX is one of the leading Bitcoin derivatives trading platforms, and one would think that something of the kind would cause a big blow. Arthur Hayes and the rest of the executive team...

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Janice McAfee Calls For Support After John’s Arrest in Spain

The wife of the famous tech entrepreneur John McAfee weighed in on the most recent events, thanking and calling for the community’s support.John McAfee’s Arrest: InjusticeThose who have been following McAfee on social media for the past few years know that he has been particularly vocal about intentionally not paying taxes.As CryptoPotato reported yesterday, the now-retired tech mogul was arrested in Spain and is pending extradition to the US. He was indicted on charges of tax evasion.That’s...

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SEC Sues John McAfee for Fraudulently Promoting ICOs

The US Securities and Exchange Commission (SEC) has filed fraud charges against the popular cryptocurrency proponent and well-known tech entrepreneur, John McAfee.According to the documents, McAfee has taken advantage of his massive Twitter following and has “leveraged his fame to make more than $23.1million in undisclosed compensation by recommending at least seven initial coin offerings (ICOs).”The charges outline that the entrepreneur has failed to disclose that he was being paid to...

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US Banks Can Now Hold Reserves on Behalf of Stablecoin Issuers: OCC

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,...

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The SEC Seems to Admit Its Crypto Laws Could Be Clearer

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...

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Rapper T.I. Hit By SEC After Promoting Phony Crypto

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...

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U.S. SEC Fines Rapper T.I For Involvement in Fraudulent ICO Schemes

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...

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Fidelity Launches Its First Bitcoin Index Fund: $100K Minimum Investment

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...

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The SEC Is Changing the Scene for Institutional Traders Involved in Crypto

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...

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Hester ‘Crypto Mom’ Peirce Wins Second Term Commissioning U.S. SEC

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...

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