The SEC has filed a lawsuit against Ripple Labs Inc. and two of its executives, alleging the sale of digital assets known as XRP in a years-long unregistered securities offering to investors in the U.S. and worldwide.
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FinCEN’s Proposed Cryptocurrency Regulations Target Unhosted Wallets
The U.S. Department of the Treasury’s Financial Crimes Enforcement Network – FinCEN – has issued a notice of proposed rulemaking which proposes new regulations aimed at cracking down on unhosted wallets and subjecting them to know your customer requirements.
News Update: Cryptocurrency & Cryptocurrency Regulation
An update on news related to cryptocurrency and the regulation of digital coins and tokens and cryptocurrency exchanges and trading platforms.
September 2020 News Update
An update on news from September 2020
News Update: Cryptocurrency & Cryptocurrency Regulation
An update on news related to cryptocurrency, the regulation of digital coins and tokens, and cryptocurrency exchanges and trading platforms.
January 2020 News Update
An update on news from January 2020.
December 2019 News Update
Update on news from December 2019
Blockchain of Things, Inc. Reaches Settlement With SEC Over Unregistered Initial Coin Offering, Must Pay $250,000 Fine
The U.S. Securities and Exchange Commission and Blockchain of Things, Inc. (BCOT) have agreed to a settlement over an initial coin offering. The SEC concluded that BCOT violated the Securities Act by offering and selling securities without having a registration statement filed or in effect with the SEC or qualifying for exemption from registration. BCOT must pay a civil monetary penalty in the amount of $250,000.00.
Initial Coin Offering Lawsuit: SEC v. Kik
The U.S. Securities and Exchange Commission has filed a lawsuit against Kik Interactive Inc. for the offer and sale of unregistered securities. In its complaint, the SEC alleges that Kik, over a five-month period in 2017, offered and sold one trillion digital tokens called “Kin.” This initial coin offering, the SEC alleges, violated Section 5(a) and (c) of the Securities Act of 1933.