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Tag Archives: sec

NBA Top Shots NFTs Might Be Securities, Rules Federal Judge in Dapper Lawsuit

Dapper Labs will be forced to face a lawsuit from the Securities and Exchange Commission (SEC) alleging that the NFT Top Shot NFT Moments on its platform are unregistered securities, following a judge’s refusal to dismiss the case on Wednesday. United States District Court Judge Victor Marrero ruled that such NFTs may plausibly qualify as securities under the Howey Test.  Are NFTs Securities? Per Marreno’s ruling, part of what makes the SEC’s allegations “facially plausible”...

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Paxos in Talks With SEC Over Binance Stablecoin: Report

Major blockchain infrastructure platform Paxos Trust Company is holding discussions with the US Securities and Exchange Commission (SEC) concerning Binance stablecoin BUSD, according to a report by Reuters. The company earlier received a notice from New York authorities to cease minting BUSD. According to Reuters on Tuesday (Feb. 21, 2022), Charles Cascarilla, CEO of Paxos, sent an email to the firm’s employees on Feb. 18, informing them that the company is holding...

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Weekly Crypto Investment Product Outflows Hit $32M: CoinShares

According to the latest edition of CoinShares’ weekly report, outflows in digital asset investment products reached $32 million last week, a level not seen since late December 2022. The sentiment could be attributed to exchange-traded product (ETP) investors being less optimistic about recent regulatory pressures in the US relative to the wider market. Bitcoin Bears the Brunt Outflow figures surged to $62 million the mid-way through last week, even as the sentiment improved...

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SEC Charges NBA Hall of Famer Paul Pierce for Promoting Ethereum Max

On February 17, the Securities and Exchange Commission (SEC) charged NBA Hall of Famer Paul Pierce with illegally promoting the EMAX token on his social media accounts. The EMAX token was offered and sold by EthereumMax. According to the complaint, Pierce has agreed to pay a penalty of $1,115,000, plus approximately $240,000 in disgorgement and prejudgment interest, without admitting or denying guilt, to avoid greater sanctions from regulators. He is also prohibited from...

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Hester Peirce Calls for Immediate Crypto Regulation

Securities and Exchange Commission (SEC) Commissioner Hester M. Peirce – who’s often dubbed the “crypto mom” thanks to her open-minded nature towards bitcoin and crypto – is calling for strict regulation of the space and says this will provide more clarity for traders and help to keep investors shielded from bad actors. Hester Peirce Says It’s Time to Regulate Crypto In an interview, Peirce said: If we continued with our regulation-by-enforcement approach at our current...

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