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Tag Archives: sec

Breaking: SEC Orders to Halt Telegram’s $1.7 Billion Gram Token Sale

The United States Securities and Exchange Commission (SEC) has put a spanner-in-the-wheel of Telegram‘s $1.7 billion Gram (GRM) token offering. The securities regulator has asked the messaging giant to halt the sale of its digital currency calling its “unlawful”.As per the SEC press release on Friday, October 11, Telegram failed to register its token-sale offering with the regulator, in due time. The Telegram Group has been working on its blockchain project – Telegram Open Network (TON) –...

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Bitwise ETF Proposal Rejected for the Umpteenth Time

It looks like we won’t be seeing a bitcoin exchange-traded fund (ETF) anytime soon. The latest (and allegedly final) attempt being made by Bitwise has outright been rejected by the Securities and Exchange Commission (SEC), which means there are no more proposals on the table waiting to get a “yes” or “no” vote.Bitwise Is Out of the LoopThe good news is that this hasn’t harmed bitcoin or Ethereum in the process, the two largest cryptocurrencies by market cap. While other smaller coins have...

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We’re Close to Bitcoin ETF Approval, Says Optimistic Bitwise Executive

The United States Securities and Exchange Commission (SEC) has been in an unofficial fight with the cryptocurrency sector in general. The Commission is generally regarded as unsupportive of the sector especially with its repeated disapproval and postponement of its decision to allow Bitcoin Exchange Traded Funds (Bitcoin ETF). However, an executive from Bitwise Asset Management seems to believe strongly that the upcoming SEC ruling will come in the company’s favor.Speaking to CNBC on its ETF...

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Telegram to Officially Launch TON Network by October 31

Telegram Open Network (TON) announced in its letter to investors that it is close to its planned launch.Mitja Goroshevsky, CTO of TON Labs, a startup building tools for TON developers, said that TON Labs itself “will run and manage its own validation pool.”He confirmed the authenticity of the letter saying that original investors received emails from the Telegram core team and that is expected from them to provide Telegram with their public keys by Oct. 16 using the key generator in order to...

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How a Crypto Startup Escaped With a Comical Fine After Illegal $4 Billion ICO

Block.one – the company behind cryptocurrency EOS – was slapped with a $24 million fine this week, pertaining to its initial coin offering (ICO) back in 2017. That might sound harsh, but it’s a tiny penalty. A drop in the ocean compared to the record-breaking $4.1 billion the company (reportedly) raised in its initial coin offering (ICO). To be specific, it’s just 0.58% of the total amount raised – a slap on the wrist for violating US securities law. It’s an arbitrary and dangerous...

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U.S. SEC Charges Block.one for Its $4 Billion ICO and It’s Not as Heavy as You Think

Photo: Block.oneThe EOS blockchain developer Block.one has been charged by the United States Securities and Exchange Commission (SEC) over its 2017-2018 ICO which raised about $4.1 Billion during the process. The Commission charged the company with the relatively low sum of $24 Million which boils down to about 0.58% of the sum raised during the offering which is relatively light when comparing the amount raised to the amount charged.Following the DAO report which highlighted several types...

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Overstock along with Its Former CEO and CFO Sued for Securities Fraud

Recently Overstock and its former CEO Patrick Byrne have recently made a lot of headlines. The main reason for that is that Patrick Byrne left the company with a big bang, sold all his equities and didn’t keep it a secret that he had invested in Bitcoin and gold.Now, an investor from Canada – Benjamin Ha, has filed a complaint with the United States Securities and Exchange Commission (SEC) alleging that between May 9 and September 23, 2019, Overstock published “materially false and misleading...

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SEC’s ‘Crypto Mom’ Hester Peirce Believes Digital Assets Could Be the ‘Money of Internet’

SEC Commissioner Hester Peirce, also popular as ‘crypto mom’ for her crypto-friendly news, once again spoke in favor of digital assets during the recent cryptocurrency compliance Dacom summit in New York hosted by Solidus Labs today. Peirce spoke in details about SEC’s views on digital currencies saying that regulators are currently active extremely ‘paternalistic’. Besides, she also had an extensive discussion on different measures the agency can take to improve regulations.She stated that...

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Kik Founder Vows to Fight On Despite Obstacles Presented by the U.S. SEC

The CEO founder of popular messaging app Kik Ted Livingston has maintained his position on keeping on to the end in his company’s legal tussle with the United States’ Securities and Exchange Commission (SEC) over its cryptocurrency’s classification as a security.Kin (KIN) has been at the forefront of a firestorm between the two parties over its initial coin offering (ICO) with the US regulator suing the company earlier this year over the issue. Sources indicate that the CEO gave his position...

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SEC Delays Decision on Wilshire Phoenix Bitcoin ETF

The U.S. Securities and Exchange Commission (SEC) again delayed its decision about Bitcoin exchange-traded fund (ETF) proposed by New York-based investment-management firm Wilshire Phoenix.As per the public filing, SEC needs to assess the proposed rule change to allow NYSE Arca in order to deal with shares of Wilshire Phoenix’s Bitcoin and Treasury Investment Trust. Arca first started seeking regulatory approval from the SEC for a different type of stablecoin. Dubbed as the Arca UST Coins –...

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