The SEC has issued its first warning regarding Initial Exchange Offerings (IEOs), potentially decreasing any future interest in cryptocurrency offerings on exchanges. The SEC is urging investors to be careful about any "promises" made in regards to IEOs. This is what the US financial watchdog said to the general public: Claims of new technologies and…
Read moreBack in December 2017, Leaprate reported that the SEC obtained an emergency asset freeze to stop the ICO fraud of PlexCorps that raised $15 million from multiple investors by misleading them with 13-fold profit figures in less than 1 month. After the regulator settled charges with PlexCorps by penalizing it with $4.56 million plus an…
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Not long ago, one of the most awaited ICOs in the crypto industry was called off. Leaprate reported that Telegram called off its initial coin offering after raising the jaw-dropping amount of $1.7 billion in the presale round. Not only that, but the SEC went on to sue TON (the Telegram Open Network) and Telegram for…
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The Securities and Exchange Commission (SEC) has announced yesterday that it has charged six individuals and their companies with participating in international microcap fraud schemes. The above-mentioned schemes generated more than $35 million of illegal sales of stock in at least 45 microcap companies. According to the regulator, Steve M. Bajic and Rajesh Taneja helped shareholders…
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The US lawmakers are getting serious about regulating the cryptocurrency industry in 2020. Thus, the US is bringing a special regulatory framework for digital assets (including digital coins). For the purpose, a new bill called Crypto-Currency Act of 2020 is introduced to find out which federal agencies exactly are to regulate digital assets. The bill…
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The US SEC has approved time and time again that ICOs are no joke and companies wishing to go for such "schemes" must obey by certain rules. The latest example of a company that filed an illegal ICO and got penalized by the SEC with a $250,000 fine is BCOT (Blockchain of Things Inc.) The…
Read moreThe SEC has just filed an emergency action against a $6 million Ponzi scheme that targets seniors and small business owners. The SEC has obtained a temporary restraining order and freeze of asset filing against Neil Burkholz of Boca Raton, and Frank Bianco of Pembroke Pines, Florida. The two individuals targeted and defrauded at least 55…
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MayStreet, the market data platform, announced that it has taken over the role of market data provider, previously held by Thesys Technologies, for the U.S. Securities and Exchange Commission’s (SEC) Market Information Data Analytics System (MIDAS). This selection brings the company closer to its mission of bringing the speed and integrity of such systems to…
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If there was one action that could catapult Bitcoin awareness through the public masses in the United States, crypto advocates have long asserted that access to a commingled trust, a Bitcoin Exchange-Traded Fund (ETF), would do the trick. This proposition, however, has withered on the vine, as the SEC has chosen to reject every application…
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The US Securities and Exchange Commission (SEC) is definitely not wasting its time when it comes to slashing ICO dreams. The financial regulatory body, after rejecting another Bitcoin ETF application, went on to file a legal complaint against the messaging app Telegram and its Telegram Open Network or TON. The reason? The unregistered ICO of…
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