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Tag Archives: sec

Grayscale Files an SEC Form 10 For Its Ethereum (ETH) Trust

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...

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Thailand Gets Its Sixth Official Crypto Exchange

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...

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Crypto Wallet Abra Settles with the SEC

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...

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Breaking: Leading US Exchange Coinbase Prepares For a Stock Market Listing

The leading US-based cryptocurrency exchange and one of the biggest companies in the industry, Coinbase, reportedly prepares for an official stock market listing.Coinbase Prepares for Stock Market ListingAccording to a report filed by Reuters minutes ago, the leading US-based cryptocurrency exchange, Coinbase, has started making preparations for a stock market listing.Should the procedure be a success, Coinbase will become the very first major US cryptocurrency exchange to go public and it...

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Jack Abramoff Pleads Guilty to Promoting Fraudulent Crypto

Crypto fraud has always been a big part of the industry. Many fans hate to admit that, and today marks a new case as Jack Abramoff – a Washington insider who ultimately served time in prison for his role in a lobbying scandal – has been charged with lobbying for a phony digital currency project.Abramoff Could Face Prison TimeAbramoff has agreed to plead guilty to both violating the Lobbying Disclosure Act and to conspiracy. He could spend as many as five years in jail once the conviction is...

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Bitcoin is Bleeding to $9,000 as Global Markets Take a Beating: The Weekly Crypto Market Update

The last seven days weren’t so fruitful for Bitcoin. After trading in a relatively narrow range for a while before that, the BTC price gradually increased to about $9,700 on Wednesday. On the same day, however, the price tumbled during the same day and started declining.Immediately after that, Bitcoin retraced to about $9,000 before finding support and bouncing off to where it currently trades at around $9,200. The thing to consider about the movements is that they coincided with respective...

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Convicted Lobbyist Jack Abramoff Pleads Guilty To a Bitcoin Fraud Case

The well-known lobbyist and ex-convict Jack Abramoff had agreed to plead guilty to a cryptocurrency scam. He was operating an alleged Bitcoin fraud case that was violating existing federal lobbying disclosure regulations.Parallel Charges Against NAC, Rowland Andrade, and AbramoffOn Thursday, the U.S. SEC announced its charges against both the chief executive of NAC Foundation, Rowland Marcus Andrade, and Abramoff. The accusations consist of operating a conspiracy scheme making false and...

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Telegram Set to Pay $18.5 Million in an Agreement with the SEC

In what seems to be the end of a legal battle between the U.S. Securities and Exchange Commission (SEC), and the messaging giant Telegram, the latter is expected to pay a civil penalty of $18.5 million to the SEC and $1.2 billion disgorgement fee according to a proposed agreement.Telegram Agrees to Pay Disgorgement and Civil PenaltyThe U.S. SEC filed a proposed final judgment with the U.S. District Court of Southern District Of New York on Thursday (June 25, 2020). According to the court...

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Federal Judge Pauses $30M SEC Case Against Alleged Crypto Scam

An SEC suit against allegedly fraudulent ICO was recently put on pause by US federal judge. Prosecutors have interfered because a parallel criminal investigation against the alleged scammers was also on the go.The Court Put On Hold A $30 Million Crypto Investment ScamA New Jersey Federal Judge has ordered the pause of SEC’s proceedings against Edith Pardo and Boaz Manor. Recently they were alleged by the Security and Exchange Commission to have raised “over $30 million” through the crypto...

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US Supreme Court Restricts Power of SEC to Seek Penalties Against ICOs

Initial coin offerings (ICOs) indicted by the U.S. Securities and Exchange Commission (SEC) may see a significant reduction in fines owed following a recent Supreme Court ruling.Apex Court Caps SEC Disgorgement AbilityAccording to Bloomberg, the U.S. Supreme Court issued a ruling on Monday (June 22, 2020), placing a cap on the disgorgement sought by the SEC in fraud cases. As part of the court’s decision which came by way of an 8-to-1 majority, the Commission can no longer seek disgorgement...

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