tldrdaily.news logo
Tag

Unregistered Securities Exchange

All articles tagged with #unregistered securities exchange

finance2 years ago

SEC Charges Binance and Coinbase, Scaramucci Weighs in on Future of Digital Assets, and Polygon (MATIC) Sees Movement.

The Securities and Exchange Commission (SEC) has charged Coinbase for operating as an unregistered national securities exchange, broker, and clearing agency, as well as for failing to register the offer and sale of its crypto asset staking-as-a-service program. The SEC alleges that Coinbase has made billions of dollars unlawfully facilitating the buying and selling of crypto asset securities since at least 2019. Coinbase's failure to register has deprived investors of significant protections, including inspection by the SEC, recordkeeping requirements, and safeguards against conflicts of interest, among others.

via SEC.gov|
#broker#clearing-agency#coinbase
cryptocurrency2 years ago

SEC files lawsuit against Bittrex for violating federal securities laws.

The US Securities and Exchange Commission (SEC) has charged cryptocurrency exchange Bittrex and its former CEO with operating an unregistered national securities exchange, broker, and clearing agency. The SEC alleged that Bittrex earned at least $1.3 billion in revenues from transaction fees from investors while servicing them as a broker, exchange, and clearing agency but failed to register those activities with the SEC. Bittrex has denied the allegations and plans to "vigorously defend" itself in court. The cryptocurrency industry has been lobbying Washington lawmakers and policymakers to avoid falling within the SEC's jurisdiction, but with the collapse of FTX, crypto has faced unprecedented scrutiny.

via Fox Business|
#bittrex#cryptocurrency#cryptocurrency-exchange
cryptocurrency2 years ago

SEC files lawsuit against Bittrex for unregistered securities exchange operation

The US Securities and Exchange Commission (SEC) has charged cryptocurrency exchange Bittrex and its former CEO William Shihara with operating an unregistered national securities exchange, broker, and clearing agency. The SEC alleged that Shihara coordinated with crypto asset issuers seeking to make their tokens available for trading on Bittrex's platform to delete public statements that Shihara believed would lead regulators to investigate those token offerings as securities. Bittrex's foreign affiliate, Bittrex Global GmbH, was also charged for failing to register as a national securities exchange.

via Reuters|
#bittrex#cryptocurrency#cryptocurrency-exchange