SEC’s Senior Advisor: Stablecoins Might be Violating Securities Law

SEC’s Senior Advisor: Stablecoins Might be Violating Securities Law

There has been a lot of speculation regarding the position of SEC regarding the status of cryptocurrencies and tokens in relation to securities law. The issue has been debated by many industry experts both in support of and against cryptocurrencies. However, there are still a lot of things that the crypto space is in the dark about. This Friday, the SEC’s senior advisor for digital assets, Valerie Szczepanik hinted at the SEC’s stance regarding some…

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SEC Chairman Jay Clayton Clarifies that “Ethereum (and Cryptos Like It) Are Not Securities”

SEC Chairman Jay Clayton Clarifies that “Ethereum (and Cryptos Like It) Are Not Securities”

Whether to classify the cryptocurrencies such as Ethereum, Bitcoin etc. as a security token or not has become the hottest topic to debate in the world of blockchain and cryptos. A recent answer letter from the U.S. Securities and Exchanges Commission (SEC) Chairman Jay Clayton to the Washington-based crypto-focused research and advocacy center Coin Center and Congressman Ted Budd, confirms his position on the classification of digital tokens. SEC Chairman Jay Clayton corroborated that the…

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Gladius Network Registers its Tokens as Securities and Settles Charges with the SEC

Gladius Network Registers its Tokens as Securities and Settles Charges with the SEC

The US Securities and Exchange Commission (SEC) continues its efforts to create a safe environment for all investors – including crypto investors. The SEC sniffed out several ‘illegal’ crypto firms – both large exchanges and startups – involved in selling unregistered securities last year. This action came into full swing after the commission announced to the general public that virtually all the ICOs and tokens are, in fact, considered securities in the eyes of the…

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SEC’s “Crypto Mom” Peirce: Tokens Fall Outside the Definition of Securities

SEC’s “Crypto Mom” Peirce: Tokens Fall Outside the Definition of Securities

The CryptoMom is back. The famed SEC commissioner gave a speech at the University of Missouri School of Law on February 8, and shared her thoughts on the blockchain and cryptocurrency space. “We, along with other regulators, are asking how existing rules apply in this space and whether a new regulatory framework would work better. If we act appropriately, we can enable innovation on this new frontier to proceed without compromising the objectives of our…

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SEC Commissioner Jackson Optimistic About Proposed Bitcoin ETF

SEC Commissioner Jackson Optimistic About Proposed Bitcoin ETF

A long interview between SEC Commissioner Robert J Jackson Jr and Congressional Quarterly (QC) is set to be published on February 11; however, the draft copies of the interview have already been circulated on social media. The leaked paper proposes that ‘Bitcoin ETF will eventually be approved”. Cryptocurrency investors have long sought a US-based fully regulated Bitcoin exchange-traded fund (ETF); however, the Securities and Exchange Commission (SEC) has repeatedly delayed the decision due to concerns over the crypto…

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Kik Gears Up for a Legal Battle with the SEC over its 2017 ICO

Kik Gears Up for a Legal Battle with the SEC over its 2017 ICO

Kik Interactive, a Canadian messaging app company is getting ready for the legal battle with the SEC by bringing the Washington D.C. regulatory giant to court over a potential enforcement action against 2017 KIN token offering. Ted Livingston, CEO of Kik Interactive announced that the company would be launching a cryptocurrency, Kin, in September 2017 in a token distribution event (TDE) or ICO with an aim to raise $125 million. Kik raised nearly $100 million…

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U.S. Congressmen Propose New Legislation that Exempts Cryptocurrencies from Securities Law

U.S. Congressmen Propose New Legislation that Exempts Cryptocurrencies from Securities Law

Cryptocurrencies have had to face a major hurdle in the U.S. because of the securities law that was being applied to some of them. Companies and new crypto assets had to tread very carefully and jump through legal hoops to ensure that they were not labeled as a security and as a result fall under strict regulations applied to securities in the U.S. To understand the relation between securities and cryptocurrencies, we need to understand…

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SEC Chairman Clayton: ICOs can be Effective to Raise Capital; Must Follow Securities Laws

SEC Chairman Clayton: ICOs can be Effective to Raise Capital; Must Follow Securities Laws

One crypto area that the U.S. Securities and Exchange Commission (SEC) was quite obscure about so far is initial coin offerings (ICOs). Sure, The SEC Chairman Jay Clayton has already expressed his opinion in the past that ICOs should be regarded and treated more as securities than utilities, but the agency’s general perspective of this sort of funding method remained elusive. In fact, the SEC’s approach to ICOs (and the crypto market in general) was…

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The SEC Postpones Bitcoin ETF Decision Until February

The SEC Postpones Bitcoin ETF Decision Until February

An official document released on Thursday December 6 by the United States Securities and Exchange Commission (SEC) announced that the decision on a Bitcoin exchange-traded fund (ETF) has been postponed. The proposal to list a Bitcoin ETF on the Chicago Board Options Exchange was proposed by investment company VanEck, and SolidX, a blockchain company. In order to list Bitcoin, rule change proposals will need to be met, and the SEC have stated they require more…

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Precedent: Two Companies Will Enlist ICO’s Tokens as Securities to Avoid Further SEC Charges

Precedent: Two Companies Will Enlist ICO’s Tokens as Securities to Avoid Further SEC Charges

The U.S. Securities and Exchange Commission (SEC) announced on Friday that CarrierEQ Inc. and Paragon Coin Inc. have settled the charges leveled against them for violating laws guiding initial coin offering (ICO) securities offering. According to the press release, the companies also agreed to return funds to harmed investors, register the tokens as securities, file periodic reports with the commission, and pay penalties. The United States securities regulator said that despite their warning neither company…

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