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Posts Tagged ‘SEC’

Decentralized Exchanges Can’t Escape the SEC, Warns Its Cyber Chief

The U.S Securities and Exchange Commission (SEC) has filed charges in the first-ever case involving a decentralized Ethereum-based exchange. The head of the SEC’s new cyber unit has followed with a warning that decentralized exchanges must be compliant as well, adding that creators will be held responsible. On November 8, 2018, the SEC brought charges…

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Thailand to Legitimize First ICO ‘Portal’ via New Regulation, Says SEC Head

Thailand’s securities regulator will clear “at least one” Initial Coin Offering (ICO) “portal” to operate legally in November, local daily news outlet Bangkok Post reported Nov. 8. Speaking to the publication, Rapee Sucharitakul, secretary general of the Thai Securities and Exchange Commission (SEC) said that ICOs themselves could also start seeing official approval to serve…

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EtherDelta SEC Action Could Impact Entire Industry, Experts Warn

Legal figures engaging with cryptocurrency are warning over continued regulatory uncertainty impacting businesses after US regulators fined EtherDelta almost $400,000 November 8. EtherDelta Could Set Precedent EtherDelta, which operated since 2016 as a smart contract on Ethereum, fell victim to securities obligations under the US’ Securities and Exchange Commission (SEC), leaving owner Zachary Coburn liable…

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SEC Charges EtherDelta Founder Over ‘Unregistered Securities Exchange’

The U.S. Securities and Exchange Commission (SEC) has charged Zachary Coburn, the founder of crypto token trading platform EtherDelta, with operating an unregistered securities exchange. The regulator said Thursday that EtherDelta, which acts as a secondary market for trading ERC-20 tokens, had been providing a marketplace for buyers and sellers to trade ethereum tokens that…

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SEC Official Says ‘Plain English’ Guidance On ICOs Is Coming

The U.S. Securities and Exchange Commission (SEC) plans to clarify when and how cryptocurrencies may be classified as securities, its director of Corporation Finance said Monday. Speaking at the D.C. Fintech Week conference, SEC director William Hinman said the regulatory agency intends to release “plain English” guidance for developers to refer to when planning token…

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SEC Report Notes ‘Dozens’ of Investigations Into ICOs at End of Fiscal Year

The U.S. Securities and Exchange Commission’s (SEC) Enforcement Division has released its annual enforcement report for the 2018 fiscal year (FY), Friday, Nov. 2. The report notes actions by the Division against fraudulent Initial Coin Offerings (ICOs). According to the report, since the formation of the Division’s Cyber Unit at the end of FY 2017,…

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SEC Says It Shut Down More Than a Dozen Illegal ICOs in the Past Year

The U.S. Securities and Exchange Commission (SEC) brought more than a dozen successful enforcement actions specifically related to token sales in the fiscal year that ended Sept. 30. At least three of these sales reportedly raised more than a combined $68 million from investors before being shut down, the agency said in its annual report…

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The SEC Wants to Engage the Crypto Community through FinHub

The launch of FinHub shows that the US Securities Exchange Commission (SEC) is increasingly focusing on 4th Industrial Revolution technologies. Among these technologies, Bitcoin and artificial intelligence (AI) continues to enjoy prominence. Crypto Enthusiasts Can Engage the SEC through FinHub On October 18, 2018, the SEC launched the Strategic Hub for Innovation and Financial Technology (FinHub) to…

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