Subscribe
‘Enforcement 40’ for 2020
Our Sponsors
Join Us On LinkedIn
Join the Securities Litigation and Enforcement Group on LinkedInU.S. crypto exchanges could face possible class-action lawsuit | Fox Business
Long time securities lawyer Tom Grady, known as one of the nation’s leading investment fraud attorneys, is preparing for potential litigation against the nation’s biggest crypto exchanges Coinbase, Robinhood, Kraken and others, according to a press release reviewed by FOX Business. In the release, Grady said he launched an investigation into the exchanges’ operations and […]
SEC Chair Gensler Says Crypto Exchanges May Not Be ‘Qualified Custodians’
Speaking at an Investor Advisory Committee meeting Thursday, Gensler said a recently proposed rule directing investment advisers to look to qualified custodians for storage of assets – including cryptocurrencies – makes “important enhancements” to existing protection rules. He also said crypto exchanges should not be considered safe under those guidelines. “Based upon how crypto trading […]
SEC’s Gary Gensler: Crypto Industry Mixes Customer Funds With Its Own – Bloomberg
In his Bloomberg interview on Friday, Gensler took particular issue with how crypto exchanges often play multiple roles. He suggested that their business models can create significant conflicts of interest. “We don’t let the New York Stock Exchange also run a hedge fund and trade on the exchange; why would we do it here?” Gensler […]
A Traditional Exchange? FTX Was Anything But. – The New York Times
Cryptocurrency trading platforms like FTX have acquired a sheen of legitimacy in recent years by billing themselves as exchanges — creating an association with staid and trusted financial institutions like the New York Stock Exchange and Nasdaq. But the implosion of FTX shows just how different crypto exchanges are from their more well known, and […]
Prosecutors give a stark warning to other crypto platforms in the wake of the SBF indictment and call it ‘one of the biggest financial frauds in American history’
Williams was joined by a host of U.S. officials in outlining the charges against Bankman-Fried, including Gurbir Grewal, director of the SEC Enforcement Division. The SEC brought a separate set of civil charges against Bankman-Fried on Tuesday, and Grewal warned other unregulated and rogue cryptocurrency trading platforms to register with the SEC soon, or risk […]
SEC Faces Calls to Boost Crypto-Exchange Enforcement After FTX Collapse – WSJ
The SEC has said many cryptocurrencies qualify as securities that should have been sold under rules for stocks and bonds. SEC Chair Gary Gensler has said exchanges are breaking the law by selling those unregistered securities and not following rules that the Nasdaq Stock Market and the New York Stock Exchange observe. Some lawyers say […]
US Senator Introduces Crypto Bill To Limit SEC’s Reach Over Exchanges | Coin Culture
A Republican senator has introduced new legislation that would shield crypto exchange platforms from some SEC enforcement proceedings. According to a recent news release, Tennessee Representative Bill Hagerty is proposing the Digital Certainty Act of 2022 to protect cryptocurrency exchanges from SEC overreach and give legislative clarity about the classification of virtual assets. Haggerty asserts […]
Every U.S. Crypto Exchange (And Binance) Is Being Investigated By The SEC, Says Senator Lummis Staffer
Widely circulated reports that the U.S. Securities and Exchange Commission (SEC) is investigating $20 billion crypto exchange Coinbase are just the tip of the iceberg, according to a staffer from U.S. Senator Cynthia Lummis’ (R-Wy) office. The staffer says every U.S. crypto exchange—and the largest crypto exchange in the world, Binance—are in various stages of […]
SEC launches insider trading inquiry into crypto exchanges | Fox Business
The U.S. Securities and Exchange Commission has launched a sweeping inquiry into whether crypto exchanges have proper safeguards to prevent insider trading on their platforms, FOX Business has learned. According to a person with direct knowledge of the inquiry, the SEC has sent a letter to one major crypto exchange requesting information about how the […]