Tag: sec

bitcoin, cryptocurrency news

The SEC Isn’t In a Hurry to Approve a Bitcoin ETF But Crypto Isn’t Worried

The approval of a Bitcoin ETF seemed imminent when Gary Gensler became the Securities and Exchange Commission (SEC) chief. In anticipation, several Bitcoin ETF applications were submitted to the agency. Going by Gensler’s recent statements, however, those applications will have to gather dust before his agency takes a look at them. The SEC Commissioner cautioned investors about Bitcoin markets at a conference recently. “Investors should … Continue reading The SEC Isn’t In a Hurry to Approve a Bitcoin ETF But Crypto Isn’t Worried

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cryptocurrency news

SEC Postpones WisdomTree Bitcoin ETF Decision

The Securities and Exchange Commission (SEC) has postponed ruling on a Bitcoin ETF proposal. A decision on the WisdomTree Bitcoin Trust proposal, which was filed in March, was expected this month but the agency said it would rule on the proposal by July 14. The proposal is among a dozen Bitcoin and cryptocurrency ETF applications filed by the likes of Fidelity and VanEck sitting with … Continue reading SEC Postpones WisdomTree Bitcoin ETF Decision

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cryptocurrency news

Blockchain Startup Enigma Settles with SEC for Security Token Sale

Chalk one more up for initial coin offering (ICO) regulation. Enigma MPC, a blockchain startup, settled with the SEC for conducting an unregistered sale of securities. The San Francisco-based startup conducted an offering of its ENG tokens in 2017 and raised $45 million from investors. As part of the settlement, Enigma will refund “harmed investors” and pay a penalty of $500,000 to the SEC. It … Continue reading Blockchain Startup Enigma Settles with SEC for Security Token Sale

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cryptocurrency news, regulation

Can SEC Commissioner Hester Peirce’s Proposal Revive the ICO Market?

In the annals of crypto history, initial coin offerings (ICOs) were the latest innovation until they weren’t. After briefly eclipsing traditional forms of venture financing, ICOs have largely been relegated to the sidelines of the fundraising ecosystem after an SEC crackdown. A glance at the moribund market for coin offerings during the first quarter of 2019 revealed distressing news. Coin offerings, which had raised $6.9 … Continue reading Can SEC Commissioner Hester Peirce’s Proposal Revive the ICO Market?

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sec chairman jay clayton bitcoin crypto
Cryptocurrency Prices

SEC Chair Jay Clayton Says Crypto Markets Lack Price Discovery Rigor of Public Markets

The last time he spoke about cryptocurrencies to the press, SEC Chairman Jay Clayton held out hope for a Bitcoin ETF, indicating that “progress is being made” in cleaning up crypto markets. Yesterday, at the Delivering Alpha conference organized by CNBC, Clayton reverted back to his old hostile stance towards cryptocurrencies. “If they (investors) think there is the same rigor in price discovery as there … Continue reading SEC Chair Jay Clayton Says Crypto Markets Lack Price Discovery Rigor of Public Markets

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cryptocurrency news, regulation

VanEck Withdraws Bitcoin ETF Application After Launching Fund for Institutional Investors

Investment firm VanEck, which had applied for a Bitcoin ETF earlier this year along with SolidX, withdrew its application on Sep. 13th, according to a filing posted on the SEC website this evening. The federal agency was due to issue a final decision on their application by October 18th. Today’s application withdrawal leaves just two more players in the Bitcoin ETF fray: Wilshire Phoenix and … Continue reading VanEck Withdraws Bitcoin ETF Application After Launching Fund for Institutional Investors

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cryptocurrency news, regulation

SEC Chair Jay Clayton Says Market Closer to First Bitcoin ETF

Is a long-awaited Bitcoin ETF on the horizon? Based on a CNBC interview of SEC Chairman Jay Clayton, that seems to be the case. “The short answer is yes,” he said, responding to a question about whether the markets were closer to seeing the first Bitcoin ETF. He followed up that answer by restating the original concerns. “How do we know that we can custody … Continue reading SEC Chair Jay Clayton Says Market Closer to First Bitcoin ETF

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cryptocurrency news

SEC Moves To Freezes Funds From Veritaseum’s 2017 ICO

The SEC has made an emergency filing to prevent the promoters of an ICO from spending the money they collected during the offering. The federal agency announced yesterday that it had obtained a court order that freezes the assets of Veritaseum, which conducted an ICO in 2017 for its VERI tokens, and Reggie Middleton, acting CEO of the company. The court order freezes accounts at … Continue reading SEC Moves To Freezes Funds From Veritaseum’s 2017 ICO

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cryptocurrency news, regulation

SEC Issues Second No-Action Letter This Year To Pocketful of Quarters

The SEC has issued its second non-action letter for ICO tokens to gaming startup Pocketful of Quarters (PoQ). The venture, started by eleven-year-old sixth grader George B. Weiksner, intends to use utility tokens called Quarters. The tokens are based on the ERC-20 protocol, the most popular smart contract protocol for developing tokens on Ethereum. They will be used as in-game currencies to trade goods and … Continue reading SEC Issues Second No-Action Letter This Year To Pocketful of Quarters

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cryptocurrency news, regulation

Mixed Response to SEC Case Against Kik

As the dust settles on the SEC’s suit against Kik, the list of supporters for Defend Crypto, a website that the messaging app service created to solicit donations for fighting the SEC in courts, has changed. Per the site’s latest version, Boston-based Circle, a crypto financial services company, is out. The name of San Francisco-based cryptocurrency exchange Coinbase has also been taken off the site’s … Continue reading Mixed Response to SEC Case Against Kik

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opinion

Kik’s Mistaken Battle With the SEC

In its battle against the SEC, messaging app Kik likes to paint itself as an aggrieved victim of the agency’s regulations. The app has conducted a public battle with the agency since receiving a Well’s notice last year and even started a website to raise funds to file a lawsuit. Defendcrypto.org claims the SEC is charging an “innovation tax” and shaping the future of crypto … Continue reading Kik’s Mistaken Battle With the SEC

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cryptocurrency news, regulation

SEC Files Case Against Messaging Startup Kik

The Securities and Exchange Commission (SEC) is suing messaging app Kik for an unregistered securities sale. Kik sold $100 million worth of tokens called Kin during an initial coin offering (ICO) from May 2017 to September 2017. The startup, which is backed by the likes of China’s Tencent and Union Square Ventures, claims that the tokens were utility tokens, meaning that investors bought them without … Continue reading SEC Files Case Against Messaging Startup Kik

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cryptocurrency news, ICO, regulation

California Judge Rules Against SEC In ICO Token Case

In a preliminary ruling that may be considered as a rebuke to the SEC’s broad definition of a security, a U.S. District Court in Southern California rejected a motion by the federal agency to bar Blockvest LLC, a startup, from conducting an ICO for sale of its tokens. The federal agency had obtained an emergency court ruling in October to stop Blockvest because the startup … Continue reading California Judge Rules Against SEC In ICO Token Case

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cryptocurrency news, regulation

Bitcoin Is Not A Security: SEC Chairman Jay Clayton

Even as his agency cracks down on token offerings, SEC Chairman Jay Clayton is letting bitcoin off the hook. Clayton, who has been vocal about regulating tokens as securities, told CNBC in an interview that cryptocurrencies do not qualify as securities under current SEC provisions. “Cryptocurrencies…are replacements for sovereign currencies, (they) replace yen, US dollar, Euro with bitcoin. That type of currency is not a … Continue reading Bitcoin Is Not A Security: SEC Chairman Jay Clayton

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cryptocurrency news, regulation

Bitcoin Has Elements Of Different Asset Classes: CFTC Chairman

In his conversation with CNBC, Chairman Giancarlo alluded to the possibility of a novel set of regulations for cryptocurrencies. “There’s a growing appetite among several Congress men and Senators that I have spoken to..to approach this with new eyes and some new thinking,” he said. Continue reading Bitcoin Has Elements Of Different Asset Classes: CFTC Chairman

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ethereum, ICO, regulation

The Case For Ethereum As A Security Token

During a Congressional hearing last month, SEC Chairman Jay Clayton said all ICO tokens he had seen were securities. That remark, with all its attendant implications, has spooked investors and snowballed into a series of actions that might end up radically reshaping cryptocurrency markets. Since Clayton’s remark, the SEC has tightened the screws on coin offerings and exchanges. Just last week, the agency threatened to … Continue reading The Case For Ethereum As A Security Token

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