Tag: SEC
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SEC Moves to Dismiss Lawsuit Against Coinbase
The U.S. Securities and Exchange Commission is set to drop its lawsuit against Coinbase, according to an announcement from the exchange on February 21. The decision, pending final approval from SEC commissioners, marks a potential turning point in the agency’s stance on crypto regulation. Coinbase CEO Brian Armstrong called it a “huge day” for the…
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SafeMoon CTO Pleads Guilty to Fraud in $200 Million Crypto Scheme
SafeMoon’s former Chief Technology Officer, Thomas Smith, has pleaded guilty to fraud charges. He admitted to misleading investors about the project’s liquidity pool. In a February 20 court appearance, Smith withdrew his previous not-guilty plea. He pleaded guilty to securities fraud conspiracy and wire fraud conspiracy. Prosecutors say he and other executives had full access…
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SEC Rejects Spot Solana ETF Applications
The U.S. Securities and Exchange Commission (SEC) has reportedly rejected applications for spot Solana exchange-traded funds (ETFs). According to sources, at least two out of five prospective issuers have been notified of the decision, aligning with the SEC’s cautious stance on cryptocurrency-related investment products. SEC’s Regulatory Position on Solana ETFs The SEC has consistently maintained…
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Trump Considers New SEC Head as Gensler’s Future Uncertain
President-elect Donald Trump is actively seeking replacements for SEC Chair Gary Gensler. His transition team is reviewing candidates from finance, law, and regulatory sectors. Gensler’s term is set to end in 2026, but Trump has committed to replacing him sooner. Key Candidates and Their Views Several high-profile figures are reportedly being considered for the SEC…
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SEC Crypto Fines hit $4.7B in 2024; Terraform Labs account for $4.4B
The U.S. Securities and Exchange Commission (SEC) has ramped up its enforcement actions against crypto firms in 2024, with fines totaling nearly $4.7 billion—a staggering 3,000% increase from the previous year. The SEC’s enforcement was significantly boosted by its $4.47 billion settlement with Terraform Labs and its former CEO Do Kwon in June, marking the…
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OpenSea gets Wells Notice from the SEC
OpenSea, a prominent NFT marketplace, has received a Wells notice from the U.S. Securities and Exchange Commission (SEC), signaling the agency’s intention to pursue enforcement action. CEO Devin Finzer disclosed on X that the SEC believes NFTs traded on the platform might be classified as securities, a stance that could have significant implications for the…
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Ripple ordered to pay $125M fine
A federal judge has ordered Ripple to pay a civil penalty of $125,035,150 in its lawsuit with the U.S. Securities and Exchange Commission (SEC). The SEC originally sought a $2 billion remittance payment, while Ripple argued for a maximum penalty of $10 million. In the ruling, Ripple is also instructed to cease any further securities…
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US Judge lets most of SEC case against Binance proceed
A federal judge dismissed part of the U.S. Securities and Exchange Commission’s (SEC) lawsuit against crypto exchange Binance and founder Changpeng Zhao, but allowed other charges, including those against the holding company for Binance.US, to proceed. Judge Amy Berman Jackson of the District Court for the District of Columbia ruled that the SEC’s charges related…
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Coinbase sues the SEC and FDIC
Coinbase is taking legal action after the SEC and FDIC denied information requests filed under the Freedom of Information Act (FOIA). The crypto exchange, through consultancy firm History Associates Inc, has sued the Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC) in a U.S. District Court for unfairly rejecting FOIA solicitations.…
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SEC stops ETH investigation.
The US Securities and Exchange Commission (SEC) has concluded its investigation into Ethereum 2.0 and will not pursue legal action regarding ETH sales as securities transactions, according to a recent announcement from Consensys. Despite this positive development, Consensys emphasized the ongoing need for clear regulatory guidelines, especially for services like MetaMask Swaps and Staking. The…