Securities

New SEC Chairman Unveils Policies for Cryptocurrencies, Calls Bitcoin ‘Scarce Store of Value’

<div class=”featured_image_container”> </div> <strong>The new chairman of the U.S. Securities and Exchange Commission (SEC), Gary Gensler, has shared his view on how the SEC plans to regulate cryptocurrencies, particularly bitcoin. He calls bitcoin “a digital, scarce store of value” and stresses the need to put in place some investor protections for this asset class.</strong> New …

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US Regulator Accuses Lbry Project of Selling Unregistered Securities, CEO Denies Charges

<div class=”featured_image_container”> </div> <strong>The Securities and Exchange Commission (SEC) has filed a complaint against the blockchain-based file-sharing and payment network called Lbry last week, as the U.S. regulator has accused the company Lbry Inc. of selling unregistered securities. However, the CEO of Lbry denies the project’s native tokens are securities and says the SEC’s logic …

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Ripple wins access to SEC discussions on defining crypto assets as securities

Ripple Labs has been granted access to U.S. Securities and Exchange Commission documents “expressing the agency’s interpretation or views” on the subject of crypto assets. According to Law360, U.S. Magistrate Judge Sarah Netburn granted the defendants’ motion “in large part,” determining that SEC minutes or memos concerning crypto are likely discoverable. Netburn asserted staff-to-staff email …

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Stock Exchange SIX Aims to List Bitcoin on SDX, Crypto Trading Platform to Launch This Summer

<div class=”featured_image_container”> </div> <strong>On March 17, a report detailed that the digital exchange being developed by Switzerland’s principal stock exchange SIX is preparing to launch by the summer of 2021. The exchange called SIX Digital Exchange (SDX) reportedly will also offer bitcoin, alongside the possibility of non-fungible token (NFT) assets like tokenized works of art.</strong> …

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First North American Bitcoin ETF Approved by Canadian Securities Regulator

The first bitcoin exchange-traded fund (ETF) in North America has been given the go-ahead by Canada’s financial regulator. According to a decision document on Thursday, the receipt of approval from the Ontario Securities Commission was filed under a Multilateral Instrument passport system in multiple Canadian jurisdictions. Those territories include British Columbia, Alberta, Saskatchewan, Manitoba, Quebec, …

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Ripple ‘Tried’ to Settle With SEC Ahead of XRP Suit, CEO Says

Ripple tried to settle charges of conducting unregistered securities transactions with the U.S. Securities and Exchange Commission (SEC) before the federal regulator sued it in December, CEO Brad Garlinghouse said Wednesday. In a Twitter thread, Garlinghouse addressed what he described as five “key questions” about the SEC’s suit against Ripple, though he warned that he …

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Israeli Regulator Designates Utility Tokens Issued by Companies as Securities

<div class=”featured_image_container”> </div> <strong>The Israel Securities Authority (ISA) recently ruled that utility tokens issued by companies are securities and, therefore, cannot be classified as assets. The ISA’s decision comes after Israeli tech startup Kirobo sought to convince the regulator that its planned token issuance did not amount to a security offering. </strong> Token Value Growth …

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Ripple Lawsuit Could Invoke Billions in Losses to ‘Innocent Third-Parties,’ Says Former SEC Commissioner

<div class=”featured_image_container”> </div> <b>The crypto community is extremely curious about what will happen to Ripple Labs and the token asset <a class=”lar-automated-link” href=”https://markets.bitcoin.com/crypto/XRP” target=”_blank” rel=”noopener noreferrer”>XRP</a>, after the U.S. Securities and Exchange Commission (SEC) recently filed a lawsuit against Ripple and two executives. On December 25, the large cryptocurrency exchange Bitstamp announced delisting <a class=”lar-automated-link” …

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Rapper T.I.’s associates to cough up $100K in FLiK token case with SEC

Three associates of Clifford Joseph Harris Jr., a rapper also known as T.I. who was responsible for helping launch the FLiK token, have agreed to pay more than $100,000 after a U.S. district court approving a settlement. According to records filed Nov. 17 in the U.S. District Court for the Northern District of Georgia, Chance …

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SEC leader touts record on digital assets on his way out the door

Bill Hinman, outgoing director of the Division of Corporation Finance at the U.S. Securities and Exchange Commission chose to focus one of his last speeches on the commission’s achievements in regulating crypto during his tenure. In remarks published on the Securities and Exchange Commission, or SEC, website on Nov. 18, Hinman cited the SEC’s record …

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