SEC
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Kraken caves in to regulatory pressure and shuts down cryptocurrency pledge business
According to reports, according to an industry insider familiar with the situation, Kraken has agreed to close its cryptocurrency pledge business to resolve allegations with the United States Securities and Exchange Commission (SEC). Insider: Kraken has agreed to close the encryption pledge business to resolve the SEC’s allegations Analysis based on this information:Kraken, one of the world’s leading digital asset exchanges, has decided to close down its cryptocurrency pledge business. The move comes after the United States Securities and Exchange Commission (SEC) accused the exchange of illegally selling securities without registration. This development marks another instance of regulatory pressure on the cryptocurrency industry, which has been grappling with various legal challenges. The cryptocurrency pledge business is a popular service offered by Kraken that allows users to borrow cryptocurrencies by putting up their digital assets as collateral. The SEC claimed in a cease-and-desist order that Kraken had been operating an unregistered security-based swap platform that facilitated trading in these collateralized loan…
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INX digital company adds encryption mining enterprise Hashrate Asset Group security tokens to its platform
It is reported that the securities firm INX Digital Company, Inc. announced that its INX platform will list the Bitcoin mining security tokens of the encryption mining enterprise Hashrate Asset Group. It is reported that Hashrate Asset Group has submitted registration documents to SEC according to Reg D/S. INX will list Hashrate Asset Group Bitcoin mining security tokens Analysis based on this information:The recently announced decision by INX Digital Company, Inc. to add the Bitcoin mining security tokens of the encryption mining enterprise Hashrate Asset Group to its INX platform is interesting news for those who follow the developments in the world of cryptocurrency and blockchain. By taking this step, INX is indicating a willingness to open up its platform to innovative business models and new technologies, which is a characteristic of the dynamic blockchain industry. The decision to list the security tokens of Hashrate Asset Group is not surprising, given that the company has already submitted its registration documents…
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Sanjian Capital’s Co-Founder Claims No Pending Litigation or Regulatory Action Amid SEC and CFTC Investigation
According to reports, Kyle Davies, the co-founder of Sanjian Capital, a closed hedge fund, said that there was no pending litigation or regulatory action against him. Last July, Sanjian Capital filed for bankruptcy. In October this year, the United States Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) launched an investigation on Sanjian Capital because it misled investors in the balance sheet. In December last year, it was reported that the liabilities of Sanjian Capital exceeded US $3 billion, while the assets were only US $1 billion. Davies said that people’s anger stems from the market decline. As far as we are concerned, there are no regulatory actions and lawsuits against us anywhere. According to the previous news, Su Zhu and Kyle Davies, the founders of Sanjian Capital, recently launched Open Exchange (OPNX), a platform that allows users to trade bankruptcy claims and use claims as collateral to trade encrypted derivatives. (CoinDesk) Kyle Davies, co-founder of…
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Coinbase’s Struggle with Securities Regulation
On March 14, Paul Grewal, chief legal officer of Coinbase, tweeted: “Coinbase has no online securities, but we want to go online. Last year, we even requested the United States Securities and Exchange Commission (SEC) We began to formulate rules on this issue and put forward 50 questions, but we did not receive any reply. Instead of focusing on practical and durable solutions such as rulemaking or registration options, regulators have given priority to such actions that distort the legal definition of investment contracts beyond recognition. The rule of law is very important. The Ministry of Justice admitted this when accusing our former employees and their associates of wire transfer fraud rather than securities fraud. This is reasonable. The reason is simple. The assets involved are not securities. “ Financial officer of Coinbase: The regulatory authority did not focus on practical and durable solutions such as rulemaking or registration options Analysis based on this information:In March 2021, Coinbase’s Chief Legal…
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SEC Provides Circle and Bank of Silicon Valley the Green Light for Nansen Acquisition
21:00-7:00 Key words: Circle, SEC, Bank of Silicon Valley, Nansen
Overview of important developments overnight on March 12
Analysis based on this …
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SEC Rejects VanEck’s Spot Bitcoin Trust Application
It is reported that the United States Securities and Exchange Commission (SEC) on March 10 ordered against a rule change that allowed the investment company Va…
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ParagonCoin, a Crypto Startup Backed by The Game, Gets Deregistered by SEC for Failing to Comply with Securities Law
On March 10, it was reported that ParagonCoin, a crypto startup supported by American rapper Jayceon Terrell Taylor (the stage name is The Game), was deregiste…
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Regulators Signal Taking Swift Action to Protect the Cryptocurrency Industry
According to reports, Mike Belshe, CEO and co-founder of BitGo, said that the short time between the collapse of the FTX exchange in November 2022 and the deci…
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Grayscale CEO discusses SEC lawsuit against Bitcoin spot ETF
On March 9, according to Bloomberg News, Michael Sonneshein, CEO of Grayscale, said that he expected his company to make a ruling on the lawsuit of the United …
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United States Court May Overturn SEC’s Rejection of Grayscale Bitcoin ETF
It is reported that Bitcoin Magazine quoted Bloomberg as saying that the United States court may overturn the SEC\’s rejection of the grayscale spot bitcoin ETF…
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Grayscale’s Probability of Winning Against SEC Rises Following Debate
It is reported that Eric Balchunas, a senior ETF analyst at Bloomberg, disclosed on social media that our senior litigation analyst raised the winning probabil…
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Grayscale’s Victory Against the SEC: A Temporary Relief?
It is reported that James Seyfart, an analyst at Bloomberg ETF, disclosed on social media the debate between Grayscale and the SEC, even though the judge gave …
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Lack of Evidence for CME Tools to Combat Bitcoin Fraud
It is reported that the United States Securities and Exchange Commission: there is no data to show that CME tools can help monitor bitcoin fraud.
US SE…
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SEC Bolsters Efforts to Investigate Securities Law Violations Related to Encryption Products and Trading Activities
It is reported that the United States Securities and Exchange Commission (SEC) is increasing the number of employees and enhancing its ability to review, inves…
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SEC Chair’s Statement on Amazon’s Purchase of GBTC and the Future of Crypto
21:00-7:00 Key words: Amazon, SEC Chairman, GBTC, Scroll, SEC
Overview of important developments overnight on March 7
Interpretation of the news:<…
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GBTC’s Premium Narrows Before SEC Oral Debate
It is reported that the premium rate of Grayscale Bitcoin Trust Fund (GBTC) to Net Asset Value (NAV) has narrowed to 42% before the federal court held an oral …
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The Regulatory Dispute that Blocked Voyager’s Bankruptcy Process
It is reported that the bankruptcy process of Voyager, the cryptocurrency exchange, was blocked because the regulators had disputes over the cryptocurrency reg…
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SEC Files Lawsuit Against BKCoin Management for Allegedly Conducting a Ponzi Scheme
It is reported that the United States Securities and Exchange Commission (SEC) announced that it had filed an urgent lawsuit against BKCoin Management, a crypt…
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CME Monitoring Bitcoin Futures as SEC Expresses Higher Risk for Bitcoin ETFs
According to reports, lawyers from the Securities and Exchange Commission of the United States said that the Chicago Mercantile Exchange (CME) is currently clo…
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SEC registration process shows volatility in the cryptocurrency market.
On March 7, the United States Securities and Exchange Commission (SEC) released a list of cryptocurrency companies registered with the regulator. The SEC previ…