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A Manhattan federal judge has dismissed a securities fraud class action against Bancor after ruling that the plaintiff’s allegations were not enough to give the court jurisdiction. According to a report, the dismissal of the case against represents the first such ruling “in a suite of similar cases filed by crypto investors represented by Selendy … Read more
Ripple’s XRP has lost almost 40% of its value after the token price dropped from $0.51 on December 21 to $0.31 at the time of writing. The token’s plunge appears to be the result of legal proceedings initiated against Ripple by the US Securities and Exchange Commission (SEC). At the time of writing, the fourth-ranked … Read more
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
The Texas State Securities Board (TSSB) issued a cease and desist order Wednesday against on Mirror Trading International (MTI), Forexandbitcoin.com and four individuals involved in a multi-level marketing scam. Out of the four individuals, Cornelius Johannes Steynberg is a resident of South Africa, while Micheal Aaron Cullison, Steve Herceg and Brian D Knott have US … Read more
The SEC has reportedly summoned the managers of several cryptocurrency-focused hedge funds. This sector has been rapidly growing over the past year and the American regulators apparently want to make sure they have a handle on the situation and to ensure that funds are not going to fields they disapprove of such as ICOs. Also … Read more
Experts in US securities laws say that some of Barry Silbert’s many tweets on ETC prices, as well as a recent “pro tip” he shared with a shorter, may raise red flags for market regulators in charge of preventing price manipulation. Also Read: Litecoin Creator Charlie Lee Reveals He Sold All His Litecoin Barry Silbert … Read more
