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200,000 People Lost $650 Million in This Crypto Scam
- NovaTech used an MLM scheme to lure investors from around the world, promising high returns.
- The SEC also fined OTC Link LLC $1.19M for failing to file Suspicious Activity Reports over a three-year period.
Tuesday, 13/08/2024 | 06:31 GMT by
Damian Chmiel
SEC Pays Whistleblower $37 Million for Aiding Enforcement Action
- The whistleblower provided unique and previously unknown information to the regulator, significantly aiding its investigation.
- Whistleblower awards reportedly range from 10 to 30% of the money collected, provided the monetary sanctions exceed $1 million.
Wednesday, 17/07/2024 | 19:43 GMT by
Jared Kirui
Binance Gains Advantage in SEC Case as Judge Dismisses Key Claims
- The court ruled that Binance's native BNB tokens and fiat-backed stablecoin BUSD do not qualify as securities.
- However, the SEC's claim on direct sales of BNB as securities transactions will proceed.
Tuesday, 02/07/2024 | 18:32 GMT by
Jared Kirui
Do Kwon and Terraform Labs Reach Settlement with SEC in Civil Fraud Case: Report
- US District Judge Jed Rakoff of Manhattan has requested supporting documents from both parties by June 12.
- In April, a jury found Kwon and Terraform Labs liable for civil fraud charges.
Thursday, 30/05/2024 | 17:23 GMT by
Jared Kirui
Ethereum ETF Approval to Open the Doors for More Crypto ETFs
- The Financial Innovation and Technology bill passed on Wednesday, and the SEC relinquished its opposition to the Ethereum ETF.
- These actions could be a game-changer for the crypto space in the long run.
Friday, 24/05/2024 | 07:52 GMT by
Victor Golovtchenko
SEC Chief Gary Gensler Slams Crypto over Inadequate Disclosures
- Gensler maintains that most cryptocurrencies are securities and must comply with relevant laws.
- He pointed out the prevalence of scams and noncompliance with securities laws in the cryptocurrency sector.
Thursday, 09/05/2024 | 20:04 GMT by
Jared Kirui
Cheetah Fund Investors Lose $9 Million in Alleged Fraudulent Scheme
- Craig Allen could have misappropriated at least $2.64 million from the fund and its investors.
- The Commission seeks penalties and a bar against his participation in the securities market.
Thursday, 25/04/2024 | 08:09 GMT by
Damian Chmiel
Coinbase Draws Support from Allies in Push for Regulatory Clarity from the SEC
- The crypto exchange emphasized the importance of predictable regulations to enhance compliance in the industry.
- The outcome of the legal dispute between Coinbase and the SEC is expected to significantly impact the crypto industry.
Tuesday, 19/03/2024 | 17:57 GMT by
Jared Kirui
SEC Hits Genesis with $21 Million Penalty over Unregistered Crypto Lending Program
- Gemini Earn program promised interest payments on crypto assets loaned to Genesis before collapsing in 2022.
- According to the SEC, this offering violated disclosure requirements meant to protect investors.
Tuesday, 19/03/2024 | 13:37 GMT by
Jared Kirui
US Senators Urge SEC to Halt Crypto ETP Approvals Due to Disclosure Concerns
- Senators Jack Reed and Laphonza Butler warned of the risks retail investors could face from crypto ETPs.
- The legislators cited a survey that reveals that 70% of brokers' communications with retail investors violated disclosure rules.
Friday, 15/03/2024 | 14:42 GMT by
Jared Kirui
SEC Hits TradeStation Crypto with $1.5 Million Penalty over Unregistered Services
- TradeStation intends to terminate its services in the US on February 22, 2024.
- The company will pay an additional $1.5 million to settle similar charges by state regulatory authorities.
Wednesday, 07/02/2024 | 20:17 GMT by
Jared Kirui
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