Securities Act Section 5(a)

Auto Added by WPeMatico

The US SEC Fines Shipchain $2 Million for Conducting an Unregistered Token Offering: Company Agrees to Cease Operations

by

The US Securities and Exchange Commission (SEC) has issued a cease and desist order against Shipchain and ordered it to pay a penalty of $2.05 million. Additionally, the regulator has directed Shipchain, a shipping and logistics company, to transfer Ship tokens in the possession or control of the company’s directors to a “fund administrator.” Unregistered … Read more

SEC Commissioner Peirce Weighs in Defi Token Regulation Debate: Panel Predicts Defi Will Self Correct in Twelve Months

by

The U.S. Securities and Exchange Commissioner, Hester Peirce says while defi tokens carry some equity-like benefits, she believes that giving something away is distinct from selling something. As a result of this lack of clarity, Peirce says questions about the regulatory structure and how these tokens could affect corporate governance will continue to linger. Speaking … Read more

ICO Aftermath: US Rules in Favour of SEC in $100M KIK Case – SALT to Reimburse Claimants From 2017 ICO

by

A US court has ruled in favour of the US SEC after the regulator’s filing of a motion seeking summary judgment against Kik for violating the country securities laws. Kik, which raised $100 million from 2017 ICO, had filed its own motion of summary judgment but the court refused to grant this. In his judgment, … Read more