Tag Archives: sec

Securities and Exchange Commission (SEC) Chair Gary Gensler’s crusade against the crypto-asset industry has prompted political pushback. United States Representative Warren Davidson is the latest to retaliate. The Ohio Representative said he is introducing legislation to remove Gensler as the SEC boss in a bid to “correct a long series of abuses.” SEC’s ‘Unconstitutional Overreach’ The announcement comes after the SEC said that it would “modernize” the proposed redefinition...

The Securities and Exchange Commission (SEC) has signaled intent to file another lawsuit against a crypto industry heavyweight – this time being cryptocurrency exchange Bittrex. The exchange, which announced the closure of its US operations last month, received a Wells Notice from the SEC at the time claiming it had violated investor protection laws.  Why Bittrex is Leaving America As reported by the Wall Street Journal, Bittrex general counsel David Maria said that the SEC’s...

It is becoming a trend that the SEC is choosing enforcement actions over dialogue. The United States-based digital currency trading platform Bittrex is likely the next exchange to face enforcement actions from the Securities and Exchange Commission (SEC). According to a report by the Wall Street Journal, the trading platform has received a Wells Notice from the regulator for key aspects of its operations within the country. According to the notice which is typically issued before...

The Commodity Futures Trading Commission (CFTC) has filed a civil enforcement action against Rashawn Russell, a former Deutsche Bank investment banker, in the US District Court for the Eastern District of New York. The filing alleges that Russell fraudulently solicited retail investors to invest in a digital asset trading fund. He is also being accused of defrauding investors of nearly $1 million in the process. He is being charged with one count of wire fraud by the CFTC....

The Securities and Exchange Commission (SEC) is furthering its plans to bring crypto exchanges under its regulatory purview – including DeFi exchanges.  The agency has announced that it is reopening an old proposal surrounding consumer protection laws to explicitly put digital asset trading within its scope.  Regulating DeFi Per a press release from the SEC on Friday, the reopening reiterates that existing rules governing securities exchanges also apply to digital asset...

The ongoing legal dispute between the United States Securities and Exchange Commission (SEC) and Ripple has taken another turn as the San Francisco-based blockchain company has countered the SEC’s argument regarding its fair notice defense strategy. According to a document filed on April 13, Ripple insisted that the case cited by the SEC did not provide any grounds to dismiss the fair notice defense. The blockchain company also substantiated its claims that the securities...

While the reasons for Sun’s recent financial transactions remain unknown, he has responded to the claims with just a comment “4” a number that signifies False News and Fear, Uncertainty and Doubts (FUD) amongst others. On-Chain data from crypto analytics firm, Lookonchain has shown that Justin Sun, the founder of the Tron Blockchain protocol has been liquidating some of his assets over the past 24 hours. According to the data from Lookonchain, the popular crypto innovator transferred a...

Tron founder Justin Sun has been issued a summons by the U.S. District Court for the Southern District of New York in connection to a recent lawsuit from the Securities and Exchange Commission (SEC).  The billionaire will be subject to “default judgment” if he fails to respond to the summons within 21 days, implying that he will face penalties.  In a Wednesday filing, the court ordered Sun to contact SEC attorney Adam B. Gottlieb with a response to the agency’s complaint. ...

The Singaporean cryptocurrency miner – Bitdeer – expects to go public on April 14 after finalizing the SPAC merger with Blue Safari Group Acquisition Corp. The former displayed its intentions to enter Nasdaq in November 2021. However, shareholders of Blue Safari delayed the initiative three times in the past several months due to the harsh environment caused by the bear market. The ‘Significant Milestone’ As announced by the US Securities and Exchange Commission (SEC),...

In its delisting announcement, Binance.US said it would remove TRON’s TRX from its trading platform on April 18th.  TRON‘s native TRX coin recently shed 6.4% following delisting from Binance.US amid a regulatory lawsuit against founder Justin Sun. Weeks ago, the Securities and Exchange Commission (SEC) sued Sun over allegations that he sold and airdropped unregistered securities. The regulatory agency also accuses the popular crypto entrepreneur of fraud and market manipulation involving...