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‘Enforcement 40’ for 2020
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Join the Securities Litigation and Enforcement Group on LinkedInBinance.US CFO Says Customer Funds Are Safe – WSJ
The U.S.-based arm of crypto exchange Binance doesn’t lend out customer assets and doesn’t commingle deposits with the larger platform, its financial chief said Wednesday. “If all our customers show up tomorrow and demand their money…we will still have corporate assets left on our balance sheet,” Jasmine Lee said at The Wall Street Journal’s CFO […]
Kraken to Discontinue Unregistered Offer and Sale of Crypto Asset Staking-As-A-Service Program and Pay $30 Million to Settle SEC Charges
The Securities and Exchange Commission today charged Payward Ventures, Inc. and Payward Trading Ltd., both commonly known as Kraken, with failing to register the offer and sale of their crypto asset staking-as-a-service program, whereby investors transfer crypto assets to Kraken for staking in exchange for advertised annual investment returns of as much as 21 percent. […]
Why An Independent Examiner In The FTX Bankruptcy Is Critical | John Reed Stark, LinkedIn
The February 6, 2023 hearing, before U.S. Bankruptcy Court Judge John T. Dorsey, pertains to a disturbing issue which has been brewing in the FTX bankruptcy – whether the FTX bankruptcy judge should appoint an independent examiner in the matter. Whether the FTX bankruptcy needs an independent examiner is obvious. Only an independent examiner whose […]
White & Case Adds White Collar Lawyer Joel M. Cohen in New York | White & Case LLP
Global law firm White & Case LLP has expanded its White Collar Practice with the addition of Joel M. Cohen as a partner in New York. Source: White & Case Adds White Collar Lawyer Joel M. Cohen in New York | White & Case LLP
Why two top San Francisco SEC veterans disagree on crypto | San Francisco News | sfexaminer.com
They were the Securities and Exchange Commission duo who took down a major Silicon Valley scam at the dawn of the web revolution, and now they’re duking it out over cryptocurrency. Marc Fagel, the SEC’s former San Francisco regional director, and Michael Dicke, once Fagel’s No. 2 who served as associate director, led the team […]
U.S. Agencies Seek Tougher Rules, Internal Probes on Stock Trading by Federal Officials – WSJ
Separately, the SEC last week proposed new ethics restrictions, including banning employees from investing in financial industry sector funds. The SEC already bars employees from owning or trading stocks that are under investigation by the agency, regardless of whether the employee is working on the matter. The SEC’s ethics rules are stricter than those at […]
Sorry crypto world, but SEC isn’t backing down on ‘regulation by enforcement’ | Reuters
Hodl Law, which describes itself as focusing on “legal services for digital assets and cryptocurrency,” sued the SEC last November in federal court in San Diego, arguing that the SEC has engaged in “years-long, purposeful delay and obfuscation” in order to extend its regulatory reach over cryptocurrencies. That strategy, Hodl Law asserted, didn’t give token-holders […]
Will the SEC Convince a Court It’s Right to Label These Tokens as Securities?
Nine tokens – most of which traded at Coinbase (COIN) – were featured by the regulator in an insider-trading case against a former manager at the company. Many believe that maneuver has importance well beyond the enforcement action, because the cryptocurrency industry has been eager to settle the question of which digital assets may be […]
Crypto Exchange Kraken Faces SEC Probe Over Unregistered Securities – Bloomberg
Kraken, one of the world’s largest cryptocurrency exchanges, is embroiled in a probe by a top US financial regulator over whether it broke securities rules related to certain offerings to American clients, according to a person with knowledge of the matter. The Securities and Exchange Commission probe into whether Kraken offered unregistered securities is at […]