SEC sues ‘fake’ crypto exchanges in first action on pig butchering scams
The SEC has taken action against romance scammers for the first time, charging two allegedly fake crypto exchanges with carrying out fraud. Go to Source
Securities
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SEC Hits Flyfish Club With Charges for Unregistered NFT Offering
The U.S. Securities and Exchange Commission (SEC) has charged Flyfish Club for conducting an unregistered offering of crypto asset securities through non-fungible tokens (NFTs), raising $14.8 million for an exclusive restaurant project. “Flyfish agreed to a cease-and-desist order, to pay a $750,000 civil penalty, and to comply with certain undertakings,” the regulator noted. SEC Charges … Read more
SEC ‘regrets any confusion’ from dubbing tokens as securities: filing
The retraction arose from the SEC’s lawsuit against Binance, but the agency is still pursuing claims against the crypto exchange for alleged securities law violations. Go to Source
Etoro Restricts US Crypto Trading to 3 Cryptocurrencies Following SEC $1.5M Fine
Etoro USA has agreed to pay $1.5 million to the U.S. Securities and Exchange Commission (SEC) to settle charges of operating as an unregistered broker and clearing agency for crypto trading. Etoro will limit U.S. customers’ trading options to bitcoin, bitcoin cash, and ether, with a 180-day window to sell other crypto assets. If certain … Read more
tZero becomes 2nd FINRA-approved broker-dealer for digital securities
The company is following the steps of Prometheum, which now treats four cryptocurrencies as securities. Go to Source
Why is the SEC going after digital art and monkey pictures?
The SEC has targeted the largest NFT marketplace for unregistered securities trading, and the crypto community is outraged. Go to Source
NFTs can be securities but SEC Wells notice to OpenSea ‘not productive’ — Lawyer
Atlas Development chief legal officer Oscar Franklin Tan stated that the Wells notice “does everything except provide us with clear rules to follow.” Go to Source
SEC Issues Wells Notice to Opensea, Alleging NFTs on the Marketplace Are Securities
The U.S. Securities and Exchange Commission (SEC) has issued a Wells notice to Opensea, signaling potential enforcement action against the NFT marketplace. Opensea’s CEO criticized the SEC’s move, claiming it could negatively impact innovation and creators’ livelihoods. The platform is prepared to contest the action and has committed $5 million to support NFT creators facing … Read more
Ripple, Kraken Legal Chiefs Weigh in on Court Decision in SEC’s Crypto Securities Lawsuit
The chief legal officers at Kraken and Ripple have weighed in on the Federal Court for the Northern District of California’s recent decision in the U.S. Securities and Exchange Commission’s lawsuit against Kraken. “Another court, this time in the Kraken case, confirms there’s no such thing as a ‘crypto asset security.’ Bad news for the … Read more
US Court Denies Kraken’s Motion to Dismiss SEC Crypto Securities Lawsuit
The U.S. District Court for the Northern District of California has denied Kraken’s motion to dismiss a lawsuit by the U.S. Securities and Exchange Commission (SEC). The court determined that the SEC “has plausibly alleged” that certain crypto tokens traded on the Kraken exchange could be considered securities, thereby allowing the case to proceed. Kraken’s … Read more
