SEC
SEC typically refers to U.S. Securities and Exchange Commission which "protects investors in the $3.8 trillion municipal securities markets that cities and towns rely on to provide neighborhood schools, local libraries and hospitals, public parks, safe drinking water and so much more". But it can also refer to the security and exchange regulation bodies of other countries.
Thai SEC Regulates Crypto Custody Providers
New crypto custody guidelines from Thailand's Securities and Exchange Commission (SEC) safeguard bitcoin investors. VASPs must put up a digital wallet management system to ensure efficient custody under the new laws. Designing, implementing, and maintaining digital wallets and keys need VASP policies.
Silvergate Reports $1B Deficit In Q4 2022
Silvergate Bank reported a $1 billion net loss attributable to common shareholders in Q4 2022. The FTX and Alameda Research class-action lawsuit is against the corporation. Silvergate CEO Alan Lane said the business still believes in the digital asset market and would keep its financial sheet liquid.
NY Business Examines Core Scientific Securities Fraud
In 2022, Culper Research reported that Core Scientific had oversold its mining and hosting operations in 2021 and waived a 180-day lockup term of approximately 282 million shares, allowing them to be dumped in March. Pomerantz LLP reported that Core Scientific's stock plunged 9.4% on this news. Last month, the same law firm filed a class-action lawsuit against Silvergate Capital for making false and deceptive promises.
SEC Accuses Thor Token Developers For 2018 ICO With Unregistered Securities
Through the sale of its Thor (THOR) cryptocurrency between March and May of 2018, Thor Technologies was able to raise a total of $2.6 million from 1,600 investors. According to the SEC, the coins did not have any application in the real world at the time of the sale. The company went out of business in 2019 as a result of its inability to establish a customer base and achieve financial success. It is the most recent in a string of similar allegations that the SEC has filed against those involved in the cryptocurrency industry.
Thai SEC Will Strengthen Crypto Regulations And Safeguard Investors
Thailand joins the list of nations rethinking crypto legislation. It will strengthen industry rules and safeguard investors. Crypto advertising tendencies worried authorities. The digital asset business was "vulnerable" and needed control.
Caroline Ellison hires former top SEC crypto regulator
A former top crypto regulator will defend former Alameda Research CEO Caroline Ellison in a federal inquiry. WilmerHale Securities and Financial Services chair Stephanie Avakian. She enhanced cryptocurrency monitoring as SEC Enforcement Division director. Federal prosecutors are investigating whether former FTX CEO Sam Bankman-Fried caused Terra ecosystem collapse.
Core Scientific's future is under "substantial doubt"
Core Scientific lost $434.8 million in Q3 2022. After second-quarter net losses of $862 million, 2022 net losses are $1.71 billion. The company expects to run out of cash by 2022. It doubted its ability to raise money through financing or capital markets. In a tweet on Nov. 22, he noted that bitcoin mining had fallen below $10,000.
First US DAO to battle SEC without lawyers
In its 2021 SEC filing, the DAO listed its native, interdependent tokens — the stablecoin Ducat and governance token Locke. The regulator has started the process of issuing a stop order, citing a slew of issues with the registration. American CryptoFed plans to file a motion to extend the deadline for responding to the SEC's Order Instituting Administrative Proceedings.
SEC filing discrepancies threaten American CryptoFed registration
The first decentralized autonomous organization (DAO) to get legal recognition in the United States is at risk of losing its registration. The U.S. Securities and Exchange Commission (SEC) dug up anomalies in the DAO's registration statement dated Sept. 17, 2021. A stop order from the SEC would retract American CryptoFed's registration and bar sales of in-house tokens, Ducat and Locke.
BlockFi to Relaunch Yield Bearing Product in the US After SEC Settlement
Months after settling with the SEC, BlockFi has now re-introduced its yield product