SEC | ForkLog - Part 18

ForkLog 13 26.04.2024

SEC Accuses Bitcoin Miner Geosyn Mining of $5.6 Million Fraud

SEC filed a lawsuit against the mining company Geosyn Mining and its two co-founders, accusing them of an unregistered and fraudulent securities offering. The regulator claims that the firm, along with Caleb Ward (CEO) and Jeremy McNatt (COO), raised approximately $5.6 million from more than 60 investors between November 2021 and December 2022. The defendants […]

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ForkLog 21 26.04.2024

ConsenSys Challenges SEC Over Ethereum Regulation

ConsenSys has filed a lawsuit against the SEC and five unnamed officials over the “regulation of ETH as a security.” According to court documents, the regulator has orchestrated a campaign “to seize control over the future of cryptocurrency” through enforcement actions. The company cited the Commission’s report and referred to statements made by its chairman, […]

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ForkLog 14 25.04.2024

SEC Likely to Reject Ethereum ETF Applications, Say Reports

Asset managers and other firms anticipate that the U.S. Securities and Exchange Commission (SEC) will reject applications for spot Ethereum ETFs following “disappointing” discussions, according to Reuters. Sources indicate that during infrequent meetings with the SEC, issuers argued that the Ethereum futures ETFs approved in October 2023 set a precedent for spot products. Regulatory staff […]

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ForkLog 56 24.04.2024

SEC Seeks $5.3 Billion Penalty for Do Kwon and Terraform Labs

The U.S. Securities and Exchange Commission (SEC) filed a motion seeking $5.3 billion in compensation and fines from Terraform Labs (TFL) and its founder, Do Kwon. On April 5, a jury in the Southern District of New York found TFL and Kwon guilty of investor deception and securities fraud. The trial lasted nine days and […]

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ForkLog 13 23.04.2024

SEC Extends Review Period for Franklin Templeton’s Spot Ethereum ETF

The U.S. Securities and Exchange Commission (SEC) has extended the review period for the application to launch a spot Ethereum ETF by investment firm Franklin Templeton. This was reported on the agency’s website.

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ForkLog 21 23.04.2024

US Blockchain Associations Challenge SEC’s Regulatory Approach

The Blockchain Association (BA) and the Texas Crypto Freedom Alliance (CFAT) have filed a complaint against the SEC, accusing it of “capricious rulemaking” and “erroneous attacks” on the digital asset industry. The organizations seek to overturn the “Dealer Rule” due to various violations of the Administrative Procedure Act (APA) by the agency, which “prevent industry […]

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ForkLog 5 19.04.2024

SEC Maintains Firm Stance on Cryptocurrency Regulation

The regulatory landscape for digital assets in the United States remains complex, yet the SEC is likely to continue its relatively stringent approach. This is reported by Fortune, citing a statement from former head of the SEC’s cryptocurrency litigation division, Ladan Stewart. For over eight years, she dealt with legal matters at the SEC, including […]

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ForkLog 35 19.04.2024

SEC Justifies Legal Pursuit of Justin Sun Due to Frequent US Visits

In a revised complaint against TRON founder Justin Sun, the SEC stated that his frequent visits to the United States provide grounds for legal action. In March 2023, the regulator accused the entrepreneur and three associated companies of an unregistered offering of securities in the form of TRON (TRX) and BitTorrent (BTT) tokens. The agency […]

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ForkLog 10 11.04.2024

Implications of the SEC’s Confrontation with Uniswap

What will be the outcome of the proceedings? What does the SEC and Uniswap confrontation mean for users? Which other DeFi solutions might attract US authorities’ attention? A potential lawsuit by the SEC against the decentralized exchange Uniswap could set a significant precedent for the cryptocurrency market, though experts consulted by ForkLog express doubts about […]

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ForkLog 17 11.04.2024

SEC’s Allegations Against Uniswap Spark DeFi Community Backlash

Uniswap has received a Wells notice from the SEC, potentially leading to a lawsuit. The exchange’s team expressed readiness to fight, deeming the regulator’s arguments weak. The community rallied in support of Uniswap and its founder, Hayden Adams. The largest decentralized exchange, Uniswap, has received a warning from the U.S. Securities and Exchange Commission (SEC) […]

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ForkLog 15 06.04.2024

Do Kwon Found Guilty of Fraud in SEC Case

A jury in the Southern District of New York found Terraform Labs (TFL) and its co-founder Do Kwon guilty of deceiving investors and securities fraud. “We are pleased with today’s jury verdict, which holds TFL and Do Kwon accountable for orchestrating a massive cryptocurrency fraud. [They] misled investors about the stability and security of crypto-assets […]

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ForkLog 11 03.04.2024

Hester Peirce Criticizes SEC’s Regulatory Approach

Questions directed at the SEC regarding regulation often go unanswered, indicating a decline in genuine interaction between the Commission and the public. This was stated by Commissioner Hester Peirce, reports The Block. According to her, the agency’s staff lacks “bandwidth.” “The root of the problem is that the Commission does not encourage staff to offer […]

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