The Law of the Financial Markets from Top Securities Lawyers
Tuesday, May 30, 2023
Nov. 4, 2022 — The Securities and Exchange Commission today announced charges against Douver Torres Braga, Joff Paradise, Keleionalani Akana Taylor, and Jonathan Tetreault for their roles in Trade Coin Club, a fraudulent crypto Ponzi scheme that raised more than 82,000 bitcoin, valued at $295 million at the time, from […]
October 3, 2022 – The Securities and Exchange Commission today announced charges against and settlement with, Kim Kardashian for touting on social media a crypto asset security offered and sold by EthereumMax without disclosing the payment she received for the promotion. Section 17(b) of the Securities Act makes it unlawful […]
Sept. 19, 2022 — The Securities and Exchange Commission today issued a cease-and-desist order against Sparkster Ltd. and its CEO, Sajjad Daya, for the unregistered offer and sale of crypto asset securities from April 2018 through July 2018 and charged crypto influencer Ian Balina for failing to disclose compensation he […]
Washington D.C., May 6, 2022 — The Securities and Exchange Commission today announced fraud charges against MCC International Corp. (MCC), which does business as Mining Capital Coin Corp., its founders Luiz Carlos Capuci, Jr. (aka Junior Caputti or Capuci) and Emerson Souza Pires (Pires), and two other entities controlled by […]
The SEC is attempting to gain regulatory oversight of cryptocurrency products and platforms that may be engaging in the sale and offering of securities. Securities are strictly regulated and require detailed disclosures to inform investors of potential risks. Since the first cryptocurrency (Bitcoin) launched in 2009, the question of how […]
Introduction BlockFi is a cryptocurrency lending startup that offers crypto loans. Since its launch, the company has been criticized for its lending practices. In particular, it has faced questions about whether it can comply with regulations requiring it to register as a money transmitter and obtain a license. SEC Charges […]
As we posted last week, CoinBase’s proposed lending program, where its customers would be able to use cryptocurrency to make loans to third parties raised objections from the SEC. Coinbase objected to the objections in a public statement, claiming it didn’t know what the problem was. There isn’t much public […]
The CoinBase Wells Notice is creating quite a stir. My original comments are here, but more information has come to light. It appears from other comments that the CoinBase Lend program is not simply a loan by depositors to others. According to other posts, CoinBase is planning on pooling the […]
