For operating a fraudulent Initial Coin Offering, former AriseBank executives have to pay nearly $2.7 million in fines and are prohibited from serving as officers of public companies or engaging in offerings of digital securities.
Jay Clayton said that ICOs should willingly follow securities laws which ensure higher protection of customers’ funds while eliminating fraud and manipulation.
As investors have been eagerly waiting for the Bitcoin price reversal after a continuous price-drop, here’s look into what experts from the crypto industry have to say.
The price of Bitcoin has plunged more than 9% in the last 24 hours following the announcement from the SEC that once again delays its decision on the rule change for a VanEck’s Bitcoin exchange-traded fund. The new deadline is February 27, 2019.
At the Digital Asset Investment Forum held in Washington D.C., a commissioner of the United States Securities and Exchange Commission (SEC), Hester Peirce said it’s better not to hold our breath waiting for a Bitcoin exchange-traded fund (ETF).
Warren Davidson, the biggest bitcoin enthusiast in Congress is set to introduce a new pro-ICO and crypto legislation. He believes that cryptocurrencies can thrive in a Federal-regulated environment.
The ICO market has exploded in the last two years attracting an ever-rising number of fraudsters. A SEC official now believes that international cooperation is crucial to bring the scammers to justice.
The U.S. District Court for the Southern District of California ruled a case between the SEC and Blockvest in favor of the ICO project.
With VanEck facilitating OTC trades for its Bitcoin ETF, there is a higher possibility that the SEC might approve its proposal.
In its first cases, the SEC has brought violations against Floyd Mayweather Jr. and music producer DJ Khaled involving ICO promotion. The SEC noted that using celebrity endorsers was a crucial part of the ICO issuers’ promotional strategy.