SEC

The US SEC amendments and SAFT process

Earlier this year, the United States Securities and Exchange Commission — in both the SEC versus Telegram and SEC versus Kik cases — vigorously argued that sales of contractual rights to acquire tokens on a when-issued basis (widely referred to as Simple Agreements for Future Tokens, or SAFTs) should be integrated with later sales of …

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SEC Commissioner Peirce Says Regulations Should Be Slow, Though Crypto Rules Could Be Faster

The U.S. government operates at a slower pace than the private sector when it comes to innovation, but this isn’t necessarily a bad thing, said Securities and Exchange Commission (SEC) member Hester Peirce. Speaking Monday at CoinDesk’s Bitcoin for Advisors event with financial adviser Steve Sanduski, the second-term commissioner shed light on how the securities …

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INX to boost its $117M IPO with token listings on global exchanges

INX, a global digital asset trading platform, is expanding its ongoing initial public offering with listings on exchanges worldwide. In a move to boost the liquidity in its $117 million IPO, INX has applied with the Canadian Securities Exchange to list its security token. The listing application is subject to the approval of the CSE, …

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Bill Hinman, who spearheaded the SEC’s early crypto policies, is leaving the commission

On Wednesday, the Securities and Exchange Commission (SEC) announced the departure of William Hinman by the end of this year.  Hinman joined the commission in 2017 and is currently the director of the SEC’s Division of Corporate Finance. He also spearheaded the SEC’s early work with digital assets, in which role he has made critical …

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Vortex Blockchain’s Registration Revoked for Failure to File Reports With SEC

The Securities and Exchange Commission said it accepted a settlement offer by Vortex Blockchain Technologies to have its registration revoked for failing to file any periodic reports with the commission since Dec. 31, 2019. Vortex, which is incorporated in Nevada and headquartered in Des Moines, Iowa, is “a crypto asset holdings company with diverse interests …

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Kik, SEC Propose $5M Settlement Over $100M ICO, Ending Yearlong Battle

Kik and the U.S. Securities and Exchange Commission (SEC) have proposed settling their dispute over a 2017 token sale with a $5 million fine. The proposed joint settlement, which also enjoins the Canadian firm against future U.S. securities law violations, still needs approval from presiding federal district Judge Alvin K. Hellerstein, according to public court …

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SEC’s conservative approach to crypto needs to change – SEC’s Peirce

Hester Peirce, commissioner for the United States Securities and Exchange Commission (SEC) affectionately known as “Crypto Mom,” says the regulator’s more conservative attitude around crypto needs to change as people become more interested in the space.  In a recent interview with Cointelegraph, Peirce said the crypto landscape is changing quickly. “While we’ve been very slow …

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SEC Commissioner Peirce Chats About DeFi, Tokens and Her Unikrn Dissent at LA Blockchain Summit

U.S. Securities and Exchange Commissioner Hester Peirce discussed some major trends in the digital asset world during a chat with journalist Laura Shin, at the LA Blockchain Summit on Tuesday.  While the talk kicked off with Peirce’s letter of dissent against the recent SEC decision to levy a $6.1 million fine on Unikrn, the commissioner …

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The need for a dialogue between crypto businesses and regulators

This year has been a strong one for digital asset markets, highlighted by growing institutional inflows and a propitious shift in the regulatory environment. Witness the U.S. Securities Exchange Commission’s September letter that says crypto exchanges that comply with SEC Rule 15c3-3 (the Customer Protection Rule) are free to trade digital asset securities.  With more …

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