SEC - AllStocks Network

US SEC Cautions Investors from Investing in Initial Exchange Offerings

Posted on January 19, 2020January 19, 2020 by Rehan Yousaf

On January 14th, Office of Investor Education and Advocacy of the U.S. Securities and Exchange Commission (SEC) posted a message on its official website of an alert to caution investors from investing in initial exchange offerings via online trading platforms. IEOs are initial offerings of digital assets to raise capital, somewhat similar to initial coin offering. IEOs are offered through online trading platforms directly on the behalf of companies, as to provide investors with instant…

Crypto Exchange Kraken: Law Enforcement Requests Hit a New High in 2019

Posted on January 8, 2020January 8, 2020 by Julie Williams

In its usual manner, the highly popular crypto exchange Kraken just released its latest compliance team’s transparency report for last year. The 2019 transparency report is targeted at the global law enforcement requests for the just-concluded business year. Kraken happily took to its Twitter account to share a general picture of the past year with regard to the exchange’s brushes with law enforcement agencies. A sneak peek at the report shows that law enforcement requests…

CEO of Crypto Firm Longfin to Pay $400K in Settlement with SEC

Posted on January 7, 2020January 7, 2020 by Julie Williams

An update from the courtroom shows that Venkata S. Meenavalli, the CEO of the embattled crypto firm Longfin, has finally yielded to paying a disgorgement fine of $400,000. The case filed against the supposed cryptocurrency firm last year by the SEC at the US district court for the southern district of New York alleged that Longfin Corp. and its acting chief executive officer misinterpreted their finances and lied to obtain a listing on the Nasdaq….

US Congress Examines ‘Crypto-Currency Act of 2020′ to Define Agencies’ Role

Posted on December 22, 2019December 23, 2019 by Rehan Yousaf

U.S. Congress has been looking at regulatory measures for cryptocurrencies since the inception of Facebook’s Libra project, and has now created a draft of a proposed bill called ‘Crypto-Currency Act of 2020’. The bill will be used to categorize Federal agencies and what specific digital assets they regulate in order to make it easier for them to inform the public of Federal licenses, documents, certificates or any other registrations to develop or trade crypto assets….

Crypto Startup Blockchain of Things Settles Unregistered ICO Case for $250K

Posted on December 21, 2019December 21, 2019 by Rehan Yousaf

Blockchain of Things Inc. (BCOT), a crypto startup that provides enterprise software to organizations, was charged for introducing an initial coin offering (ICO) despite not being registered. The firm has been making efforts to settle on an agreement with the U.S. Securities and Exchange Commission (SEC) as the company will be paying $250,000 to the regulatory agency. Blockchain of Things has agreed to refund its investors as per a legal order assigned on Wednesday. All…

Telegram Rebuffs in Court SEC’s Claim that Gram Token Is a Security

Posted on November 14, 2019November 14, 2019 by Rehan Yousaf

The secure messaging app giant Telegram has asked the US court to dismiss allegations placed on the company regarding its Gram token being security by the Securities and Exchange Commission (SEC). The company drafted a court filing, detailing its case and rebutting the list of imputations hurled on the firm by the SEC, which was then submitted on Tuesday. The filing states that the plaintiff’s claims were not based on any merit as Telegram’s private…

Telegram Open Network Investors Decide Not to Demand Refunds

Posted on October 25, 2019October 25, 2019 by Rehan Yousaf

A majority of investors from both rounds of financing of the blockchain-powered Telegram Open Network (TON) project have opted not to take refunds from the company. During the two rounds of financing, Telegram gathered $1.7 billion ($850 million from each round). TON was due for opening on 31st October but after a court ruling, the US Securities and Exchange Commission (SEC) obtained a temporary injunction against Telegram Group Inc. and its subsidiary TON Issuer Inc.,…

US Regulators Clarify Crypto Regulation Roles in Joint Statement

Posted on October 15, 2019October 15, 2019 by Julie Williams

At the core of any democratic country there are rules and regulations. If the past few years have taught us anything, it is that these rules are bound to change in order to accommodate emerging technologies. This is clearly proven in the ongoing struggle to regulate cryptocurrencies. However, financial regulators constantly show they are working tooth and nail to be on top of the matter. In what can be seen as the best move on…

The SEC Pulls the Plug on the Sale of Telegram Open Network’s Gram Token

Posted on October 13, 2019October 13, 2019 by Julie Williams

We may have to wait longer for the ‘world’s most anticipated token,’ as its website claims. The SEC has officially ordered Telegram to ground the initial coin offering (ICO) of its highly anticipated blockchain project, Telegram Open Network (TON) . The revelation of Facebook’s digital currency Libra brought about a deep awakening among big tech companies – including social media platforms. One of such big names to catch the bug and perhaps accelerate its crypto…

SEC Turns Down Bitwise Bitcoin ETF Trust Despite Compelling Case

Posted on October 12, 2019October 12, 2019 by Julie Williams

Bitwise Asset Management, a key player in the global crypto space that is revered as the leading provider of beta funds and index for the crypto ecosystem, has been in the race for a Bitcoin ETF since January 2019. Like most top shots looking for own their Bitcoin ETF, the firm filed with the United States Securities and Exchange Commission (SEC) for the right to a Bitcoin ETF. Filed on January 9, 2019, the SEC…

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