Blockstack Stockpiles $23 Million in First SEC-Certified Token Offering

Blockstack Stockpiles $23 Million in First SEC-Certified Token Offering

Muneeb Ali, the co-founder and the CEO of Blockstack PBC, has announced on a blog post that the sale period for Blockstack’s SEC-qualified token offering has ended on September 9, with $23 million raised across the two sales. For the very first time ever in the US, retail investors were able to participate in a SEC-qualified token offering. Blockstack is the first crypto startup to get the greenlight from the U.S. Securities and Exchange Commission…

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SEC Charges Dallas-Based Crypto Exchange Bitqyck and Founders for Fraud

SEC Charges Dallas-Based Crypto Exchange Bitqyck and Founders for Fraud

On August 29th the Securities and Exchange Commission (SEC) announced that it has settled the charges with the Dallas-based unregistered cryptocurrency exchange Bitqyck and its founders. According to the SEC, the founders, Bruce Bise and Sam Mendez, leveraged an unregistered coin offering and illegally operated crypto exchange with the intention to con investors. According to the SEC, Bise and Mendez had an unregistered initial coin offering through which they created and distributed two cryptocurrencies, Bitqy…

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Prominent Analyst Slams XRP as a ‘Scam Coin’ Following a Lawsuit against Ripple

Prominent Analyst Slams XRP as a ‘Scam Coin’ Following a Lawsuit against Ripple

An old Ripple (XRP)trade controversy has once again emerged from the shadows. The crypto company has been recently accused of selling unregistered securities by one of its investors, Bradley Sostack. And this time, the topic has once again surfaced with a bellicose tweet of cryptocurrency analyst Tone Vays. Vays states in his tweet that “[t]he SEC is bringing Thor’s Hammer… The next #Bitcoin Law Review is gonna be epic… Come at me $XRP Army “of…

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US SEC Seizes $8M of New Yorker who Deceptively Promoted Cryptocurrency

US SEC Seizes $8M of New Yorker who Deceptively Promoted Cryptocurrency

In a recent press release of the U.S. Securities and Exchange Commission (SEC), it has been announced that a New York-based self-proclaimed ‘financial guru,’ Reginald “Reggie” Middleton, and two companies that he owns have been arrested and charged for running a crypto scam that sells security tokens to investors and for attempting to execute all sorts of illicit market manipulations. The court also ordered to freeze $8 million out of net $14 million an accused…

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SEC Commissioner Peirce: The U.S. Should Learn from Bermuda About Crypto Regulation

SEC Commissioner Peirce: The U.S. Should Learn from Bermuda About Crypto Regulation

One of the present commissioners of the U.S. Securities and Exchange Commission (SEC) made the conjecture that the U.S. should learn from other countries regarding cryptocurrency regulation during a convergence forum held by Singapore University of Social Sciences. Commissioner Hester Peirce, in some circles known as the ‘Crypto Mom,’ explained that in her opinion although a single global regulatory framework would be a disaster, there is a need to learn from other international regulatory agencies….

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SEC Approves the Sale of PoQ Tokens Without Registration as Securities

SEC Approves the Sale of PoQ Tokens Without Registration as Securities

A gaming company known as Pocketful of Quarters (PoQ) has recently received the blessings of the U.S. Securities and Exchange Commission (SEC) to issue crypto tokens in its platform without registration PoQ plans on issuing the token dubbed Quarter in its gaming platform to enable players enjoy real-time gameplay without spending a fortune. Quarters are ERC-20 tokens, which will be issued on the Ethereum (ETH)trade blockchain. The platform, which is already furnished to the highest…

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Judge Sends Owner of Crypto Trading Platform Bitfunder to 14 Months in Prison

Judge Sends Owner of Crypto Trading Platform Bitfunder to 14 Months in Prison

Recently, one cryptocurerncy scammer was sentenced to 14 months in prison and 3 years of supervised release. Jon Montroll who had been operating cryptocurrency related services is about to face 14 months in prison after having pleaded guilty to securities fraud and obstruction of justice, as reported by the US Justice Department. Montroll was operating two inter-linked crypto businesses since 2012 and lost his investors’ money due to major computer hack in his system which…

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Regulators SEC & FINRA Explain Crypto Custodian Regulation and Approval

Regulators SEC & FINRA Explain Crypto Custodian Regulation and Approval

The U.S. Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority (FINRA) have explained in a joint statement that there are a number of questions that need to be answered before crypto companies will be approved as broker-dealers. The statement issued on Monday covered a number of different factors that affect the approval process of a broker-dealer application by a company that deals in digital assets, including custody and whether the assets are…

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Kin (Parent of Kik App) Crowdfunds $5 Million in Crypto to Help its Fight Against the SEC

Kin (Parent of Kik App) Crowdfunds $5 Million in Crypto to Help its Fight Against the SEC

Kik, a Canada-based messaging app firm, has launched a crowdfunding campaign to raise $5 million in cryptocurrencies to help with its upcoming court battle with the U.S. Securities and Exchange Commission (SEC). Kin, the parent company of Kik, raised $100 million USD during the Kik messaging app ICO; the firm is now launching a Defend Crypto Fund to protect against a potential SEC enforcement due to that ICO. The crowdfund was announced Tuesday on the…

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Circle Bemoans the Lack of Regulatory Clarity Regarding Crypto Assets

Circle Bemoans the Lack of Regulatory Clarity Regarding Crypto Assets

Whether to consider cryptocurrency as a security or not has always been one of the most debatable questions among crypto enthusiasts, investors and of course lawmakers. Lawmakers haven’t established a concrete definition yet resulting in an unclear and uncertain environment for crypto assets. Recently, Circle, a prominent crypto company and financial service provider, has come forth and posted a blog post regarding the interpretation of the recent norms implemented by U.S. regulatory agencies including the…

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