The Securities and Exchange Commission brought charges against Xue Samuel Lee, the co-founder of HyperFund, and Brenda Indah Chunga, also known as “Bitcoin Beautee,” the fund’s top promoter, for securities violations. ...more
On Tuesday, August 29, 2023, Bitcoin once again loomed large over financial markets after the D.C. Circuit Court of Appeals vacated an SEC order that rejected Grayscale Investments’ (“Grayscale”) application to list a spot...more
The issue of whether the sales of digital assets constitute investment contracts (and therefore securities) remains at the forefront of SEC regulatory issues. Yesterday, in SEC v. Terraform Labs, a federal judge in New York...more
In a recent and highly anticipated decision, a court in the Southern District of New York held that Ripple’s cryptocurrency token – XRP – is not inherently a security. In a setback to the SEC, the court also held that...more
7/31/2023
/ Coinbase ,
Cryptocurrency ,
Digital Assets ,
Enforcement ,
Howey ,
Investment ,
Investors ,
Popular ,
Ripple ,
Securities and Exchange Commission (SEC) ,
Summary Judgment ,
Token Sales ,
Unregistered Securities
On May 3, the SEC announced that the Cyber Unit in the Division of Enforcement is renamed the “Crypto Assets and Cyber Unit” and will expand by 20 positions to approximately 50 positions. Regulation of digital assets has...more
5/5/2022
/ CFTC ,
Commodity Exchange Act (CEA) ,
Cryptoassets ,
Cryptocurrency ,
Decentralized Finance (DeFi) ,
Enforcement ,
Fraud ,
Lending ,
Non-Fungible Tokens (NFTs) ,
Ponzi Scheme ,
Securities and Exchange Commission (SEC) ,
Stablecoins
Hollywood martial arts sensei Steven Seagal was recently karate-chopped by the SEC for his alleged undisclosed payments for Twitter-touting a security that was being offered and sold in an initial coin offering. In a settled...more
2/28/2020
/ Bitcoin ,
Broker-Dealer ,
Cease and Desist Orders ,
Cryptocurrency ,
Digital Currency ,
Disclosure Requirements ,
Enforcement Actions ,
Ethereum ,
Failure To Disclose ,
Financial Promotions ,
Initial Coin Offering (ICOs) ,
Investment Contract ,
Investors ,
Popular ,
Securities Act of 1933 ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Token Sales