Search results: SEC

Indian crypto exchange CoinSwitch Kuber has become the country’s second crypto unicorn after raising US$260 million in a Series C funding round, the startup announced. Fast facts The latest funding round drew in marquee investors — it was led by Coinbase Ventures and Andreessen Horowitz (a16z). Existing investors Sequoia, Paradigm, Ribbit and Tiger Global also participated […]

A US court has denied XRP holders’ bid to join the SEC v. Ripple lawsuit as third-party defendants, but XRP advocates say being ‘amici curiae’ is still a win.

The U.S. Securities and Exchange Commission has no plans to ban cryptocurrencies, chair Gary Gensler said during a congressional hearing on Tuesday. He added that any decision to ban crypto is “up to Congress.” Fast facts Gensler responded to Rep. Ted Budd’s question about whether the U.S. plans to ban crypto along the lines of […]

Bitcoin investment products saw inflows of US$69 million last week amid improving investor sentiment, according to digital assets fund manager CoinShares. Fast facts “We believe this decisive turnaround in sentiment is due to growing confidence in the asset class amongst investors and more accommodative statements from the U.S. Securities [and] Exchange Commission and the Federal […]

Cryptocurrency investment products saw inflows of US$95 million last week, with total inflows over the past six weeks of US$320 million, according to digital assets fund manager CoinShares. Fast facts “The continued inflows suggest the recent headwinds for digital assets, such as the widened China ban, were seen as buying opportunities for investors,” wrote CoinShares […]

Singapore-based digital securities exchange ADDX today announced it had tokenized an allocation to a global private equity fund by Partners Group, a private equity firm listed on the SIX Swiss Exchange. Fast facts The allocation from the Partners Group Global Value SICAV Fund is the first from a major private equity firm that has been tokenized, […]

Decentralized finance platform Vee Finance, which is based on the Avalanche blockchain, has suffered from a hack that saw the loss of Ether and Bitcoin tokens worth US$35 million, the lending platform announced on Tuesday. Fast facts Vee Finance suspended the platform’s contracts as well as its deposit and borrow function to protect user assets […]

In an interview by the Washington Post on Tuesday, U.S. Securities and Exchange Commission Chairman Gary Gensler questioned the future of cryptocurrency, saying, “I don’t think there’s a long-term viability for five- or six thousand private forms of money. History tells us otherwise.” He added that “in the meantime, it’s worthwhile to have an investor […]

Coinbase, the largest cryptocurrency exchange in the United States, has dropped its plans to launch its high-yield-generating “Lend” product following the U.S. Securities and Exchange Commission’s threat to sue the exchange if they did. Fast facts Coinbase Chief Legal Officer Paul Grewal disclosed in a blog post earlier this month that the company had received […]

In his testimony before the Senate Banking Committee, Gary Gensler, chairman of the U.S. Securities and Exchange Commission, said that Coinbase lists “dozens of tokens that may be securities.” Fast facts In response to Senator Pat Toomey’s questions about whether cryptocurrencies classify as securities, Gensler said “very many” of the cryptocurrencies, including stablecoins, are in […]

Ahead of the U.S. Banking Committee’s hearing on the “Oversight of the U.S. Securities and Exchange Commission” today, SEC Chairman Gary Gensler reiterated his call for crypto platforms and projects that have securities to register with the agency. Fast facts In prepared remarks, Gensler emphasized the concerns he sees over the lack of investor protection […]

Payments giant Mastercard announced it is extending its reach into the realm of cryptocurrency with the acquisition of CipherTrace, a blockchain analytics startup, for “greater security, transparency and trust to digital assets across the ecosystem.” Fast facts CipherTrace, which calls itself the world’s first blockchain forensics team, provides cryptocurrency tracking and investigation services. It launched an […]

Billionaire investor Mark Cuban says Coinbase should “go on the offensive” against the U.S. Securities and Exchange Commission in its feud over high-yield savings account Lend. Brad Garlinghouse, CEO of Ripple — which is itself embroiled in ongoing litigation with the SEC — quipped “Welcome to the party” in a GIF tweet. Fast facts In […]

Ripple wants to know how SEC regards Bitcoin, Ether and XRP, but SEC says Ripple is repeating the same questions as ‘they do not like the answers they received.’

Crypto platform CEO claims regulators use ‘intimidation tactics behind closed doors’ by refusing to provide clarity.

In another sign of increasing regulatory pressure on the crypto industry, the U.S. Securities and Exchange Commission is investigating Uniswap Labs, the developer behind the decentralized exchange of the same name, the Wall Street Journal reported on Friday. Fast facts Citing people familiar with the matter, the report said the SEC is seeking information on […]

Overruling Ripple’s objections over cost, a judge gives the SEC a green light to review more XRP-related Slack communications.

Singapore-based digital securities exchange ADDX today announced it had reached a US$200 million agreement that will give accredited investors in China access to digital securities covering various asset types, the company said. Fast facts According to a company statement, ADDX has reached an agreement with ICHAM, a Singapore-regulated wealth and fund management company, to be […]

The founder of the now-defunct crypto exchange BitConnect is being sued for a US$2 billion “textbook Ponzi scheme” by the U.S. Securities and Exchange Commission, according to a Reuters report. Fast facts The SEC alleges BitConnect’s founder Satish Kumbhani, an Indian citizen, lied about the exchange’s ability to earn 40% returns on investments of BitConnect’s […]

China’s BSN to launch in South Korea portal as Chinese Canaan secures huge mining rig orders

The Securities Association of China (SAC), a self-regulatory organization for the securities industry, recently held a symposium with Chinese brokerages to promote blockchain applications in China’s securities industry. The deputy director of the association’s Tech Bureau, Dongxing Jiang, said the association will implement its blockchain infrastructure plan, known as the “Securities Industry Alliance Chain,” and […]

The battle over discovery escalates between SEC and Ripple over what might have been said about the XRP at Ripple’s all-hands meetings since 2014. Will there be popcorn?

While the funds stolen in last week’s cyberattack on Liquid are yet to be returned, the Japanese exchange has secured a US$120 million loan from fellow exchange FTX to cover losses. Fast facts Sam Bankman-Fried, the billionaire CEO of Hong-Kong based FTX, took to Twitter to make the announcement, saying he had always admired Liquid’s […]

Thailand’s Securities and Exchange Commission (SEC) on Wednesday launched a public consultation on its proposed amendments to regulations for the custody of crypto holdings in digital asset businesses. Fast facts The additional regulations — which the SEC said are intended to enhance investor protection — include requiring digital asset businesses to comply with “the principles […]

Ripple also challenges SEC’s use of ‘deliberative process privilege’ to prevent agency documents on Bitcoin, Ethereum and XRP from disclosure.

ADDX, a digital securities exchange headquartered in Singapore formerly known iSTOX, has partnered with Investcorp, a Bahrain-based alternative investment management firm to offer a tokenized real estate fund focused on residential properties in the United States, ADDX announced on Thursday. Fast facts Investcorp raised US$150 million for the fund that has invested in five multi-family […]

If cabinet approves crypto bill by November, it could be introduced as early as parliament’s winter session.

Ripple claims the SEC’s request for 1 million more of the company’s internal messages is costly and unlikely to resolve disputes at the heart of the litigation.

As African countries such as Morocco, Egypt, Kenya and South Africa continue to explore the feasibility of central bank digital currencies, the Bank of Ghana is set to launch a retail CBDC pilot project, the bank has announced. Fast facts For the pilot, the central bank has partnered with German firm Giesecke+Devrient, which will provide […]

In a much-anticipated reply, U.S. Securities and Exchange Commission Chair Gary Gensler has written to Sen. Elizabeth Warren saying “crypto investors are not adequately protected.” Fast facts “In my view, the legislative priority should center on crypto trading, lending, and [decentralized finance] platforms. Regulators would benefit from additional plenary authority to write rules for and […]

The US Securities and Exchange Commission wants to review ‘terabytes’ of Ripple’s Slack chats for evidence of XRP-related wrongdoing. How much is too much?

Cryptocurrency platform Poloniex has agreed to pay more than US$10 million to settle charges for operating an unregistered online digital asset exchange, according to an announcement by the U.S. Securities and Exchange Commission (SEC). Fast facts According to the SEC’s order, Poloniex violated securities laws from July 2017 to November 2019 as the company did […]

The U.S. Securities and Exchange Commission has taken its first regulatory action involving decentralized finance in a case involving the “unregistered sales of more than US$30 million in securities,” according to an agency press release. Fast facts Gregory Keough and Derek Acree were charged along with their Cayman Islands-based company, Blockchain Credit Partners, over allegedly […]

The cryptocurrency trading industry has been labeled a “Wild West,” riddled with fraud and investor risk, by U.S. Securities and Exchange Commission Chair Gary Gensler, according to a Reuters report. Fast facts Calling on Congress at the Aspen Security Forum to give the SEC more power to regulate the industry, Gensler said many of the […]

Celsius Network CEO says crypto lenders are using Wall Street’s ‘safest’ business tactic to provide high interest rates to customers. What are the risks?

US Securities and Exchange Commission staffers say their appointed leaders’ views do not reflect the agency’s stance on Ripple and XRP.

Hinting at a potential future crackdown on stablecoins, Gary Gensler — the chair of the U.S. Securities and Exchange Commission — told the American Bar Association this week that cryptocurrencies whose prices are based on traditional assets could be subject to securities law enforcement. Fast facts Gensler’s remarks followed those of U.S. Treasury Secretary Janet […]

San Francisco-based Ripple Labs has asked a court to take into consideration recent comments by Securities and Exchange Commission members Hester Peirce and Elad Roisman on a lack of regulatory clarity over crypto in an effort to block the agency’s attempt to throw out Ripple’s fair notice defense, according to a new legal filing. Fast […]

The European Securities and Markets Authority should regulate digital currencies in the European Union, according to a proposal by the Autorité des marchés financiers, France’s securities regulator. Fast facts The AMF said it made sense for a single body to take charge of regulation across the bloc to ensure a Europe-wide framework could be applied, […]

U.S. Treasury Secretary Janet Yellen says that the United States needs “to act quickly to ensure there is an appropriate U.S. regulatory framework in place” for stablecoins. Fast facts Yellen made her comments at a Meeting of the President’s Working Group on Financial Markets, held on July 19. According to a readout of the meeting, […]

The U.S. Securities and Exchange Commission (SEC) and Ripple Labs have agreed to reschedule the deposition of William Hinman, the former head of the SEC’s Division of Corporation Finance, to July 27. Fast facts Last week, U.S. Magistrate Judge Sarah Netburn ruled to authorize Hinman’s deposition to proceed, with a delay to allow the SEC […]

Hong Kong’s Financial Services Development Council — a cross-sector advisory body established by the government to engage the city’s financial services industry — is putting together industry feedback on the government’s legislative proposals related to virtual assets and virtual asset service providers. Fast facts In May, Hong Kong’s Financial Services and the Treasury Bureau released […]

Ripple scores major discovery win as judge rules ex-SEC official William Hinman must answer ‘central question’ on Ethereum in the globally-watched case about XRP.

The Ontario Securities Commission in Canada and Bybit, a cryptocurrency derivatives exchange headquartered in Singapore, have come to an agreement on the schedule for Bybit’s upcoming enforcement proceeding, according to the OSC. Fast facts The first hearing between Bybit and the OSC — the agency that oversees securities legislation in Canada’s largest province by population […]

Grayscale Investments — the world’s largest digital asset manager — has registered its Digital Large Cap Fund with the U.S. Securities and Exchange Commission following the filing of a registration statement Form 10 last year. Fast facts The company has also announced it is filing three additional registration statements via the same form for the […]

Despite opposition from the U.S. Securities and Exchange Commission, Ripple is pushing ahead with plans to question former SEC director William Hinman, the former head of the regulator’s Division of Corporation Finance, telling the judge overseeing discovery in the SEC v. Ripple Labs lawsuit that Hinman’s deposition has been rescheduled to July 19, according to a […]

Cryptocurrency miners blamed for blackouts as government eyes excess electricity for mooted state crypto mining operation.

U.S. Senator Elizabeth Warren has written to Securities and Exchange Commission Chair Gary Gensler enquiring about the SEC’s authority to regulate cryptocurrencies and asking what future congressional regulatory action is needed, according to a Reuters report. Fast facts Requesting a reply by July 28, Warren, who heads the Senate Banking Committee’s Subcommittee on Economic Policy, […]

Is William Hinman a former ‘high-ranking’ SEC official exempt from disclosing his prior communications on XRP, or must he provide testimony to Ripple?

Top blockchain and crypto news: Ethereum upgrade, torque of the town. SEC in snafu over Bitcoin ETFs. Crypto miners flourish amid China fallout.

The Bureau of Economics and Information Technology in the Chinese city of Wuhan plans to cultivate more than 100 blockchain companies within three years. Fast facts Authorities in Wuhan issued a document outlining the blueprint, according to which rewards of up to 2 million yuan (about US$309,000) and blockchain technology research program subsidies of 500,000 yuan (US$77,250) […]

Ripple says William Hinman holds important insights into SEC’s stance on Bitcoin, Ether and XRP. How is Hinman’s 2018 speech on crypto relevant to the lawsuit?

Hong Kong’s Securities and Futures Commission chief, Ashley Alder, kicked off a firestorm during Hong Kong FinTech Week 2020 by announcing a plan to regulate all cryptocurrency exchanges that operate in the city or target its citizens.  These new proposed rules would replace a voluntary framework introduced in 2019 that allowed exchanges to opt in […]

Payment for listings raises questions over integrity of cryptocurrencies’ credit scores as compliance deadline nears.

SEC does not want its former head of Corporation Finance to testify or answer question about XRP. Who is William Hinman — and what might he tell Ripple?

Accountancy giant KPMG is partnering with Australian property group Mirvac to create a blockchain platform to track the provenance of buildings.

Chinese crypto mining rig maker Bitmain has decided to suspend global spot sales of its Antminer machines, as some of its clients are reselling their rigs.

A judge has granted Ripple’s request to force the U.S. Securities and Exchange Commission to reveal its non-public policies regarding whether agency employees may buy and sell XRP and other cryptocurrencies, according to a screenshot of a new legal filing shared by the lawyer representing XRP holders. Fast facts: Earlier this month, Ripple sought the […]

The U.S. SEC has settled charges against Loci and its CEO, John Wise, for allegedly making false statements in connection with a sale of digital asset securities.

France’s central bank has successfully completed a central bank digital currency experiment involving the settlement of listed securities with Switzerland’s SEBA Bank.

Dashing hopes of greater regulatory clarity for the cryptocurrency industry, the U.S. Securities and Exchange Commission’s recently released annual regulatory agenda does not mention Bitcoin or cryptocurrency regulations.

Chinese stock trading app Futu Niuniu has suspended Chicago Mercantile Exchange cryptocurrency futures services and stopped supplying crypto market information.

A judge has denied the U.S. Securities and Exchange Commission’s request for documents related to Ripple’s XRP transactions and lobbying efforts that took place after the SEC filed its lawsuit last December, according to a new legal filing. Fast facts: “As discussed in the Court’s earlier Opinion and Order denying access to Ripple’s privileged communications, […]

Blockchain provides greater data transparency and security than ever before, but the technology is not immune to cyber attacks and data breaches.

In a new court filing, Ripple describes the damage the SEC lawsuit has already done to XRP and the payment company’s now-frozen US business.

Did Ripple have ‘fair notice’ that SEC might deem the XRP a security? Ripple calls report on SEC’s prior anti-crypto enforcement actions ‘misleading.’

Ripple is also asking court to order SEC to reveal the agency’s internal employee policies on trading cryptocurrencies and other digital assets.

Thailand’s Securities regulator has announced that digital tokens issued and offered for transactions must have its approval.

Bitcoin dropped by 37.5% in May after hitting a low of US$34,195 yesterday, the second-largest drop on record after it fell 40% in September 2011.

The U.S. Securities and Exchange Commission has failed in a bid to gain access to any legal communications Ripple Labs sought or received as to whether sales of XRP were subject to federal securities law.

SEC says Ripple had plenty of ‘notice’ that XRP transactions could be violating the law via its many enforcement actions against other crypto companies.

Sanctions enforcement affecting the cryptocurrency industry has intensified rapidly in the past two years, according to a new report by crypto compliance consultancy Elliptic.