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SEC Chairman Explains Why He Views All Crypto Tokens Other Than Bitcoin as Securities

Coins Legend February 28, 2023 0

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has detailed why he considers all crypto tokens other than bitcoin as securities. While acknowledging that crypto tokens may have different setups, he stressed that “at the core, these tokens are securities.” SEC Chair Believes

News Regulation

Kevin O’Leary Warns US Crypto Regulation Getting ‘Very Aggressive’ — ‘You’ve Got to Stay out of the Way of SEC’

Coins Legend February 22, 2023 0

Shark Tank star Kevin O’Leary, aka Mr. Wonderful, has warned that U.S. crypto regulation is “getting very, very aggressive.” Noting that regulators are now “regulating by enforcement, penalties, and massive fines,” O’Leary emphasized the importance of staying out of the way of the SEC, Chair Gary Gensler, and other regulators. Kevin O’Leary Shares Outlook for […]

Market updates News

SEC Clampdown Has Crypto Space Abuzz, Pantera Capital Says We’re in Bull Market, and Much More — Week in Review

Coins Legend February 19, 2023 0

There’s been no shortage of news in past weeks when it comes to the United States Securities and Exchange Commission (SEC) taking action against crypto exchanges and companies. From Kraken, to Paxos, to Terraform Labs, it seems enforcement is in the air when it comes to chair Gary Gensler’s organization. In other news, South Sudan […]

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NBA Hall of Famer Paul Pierce Charged by SEC for Touting EMAX Tokens

Coins Legend February 17, 2023 0

The U.S. Securities and Exchange Commission (SEC) has charged Basketball Hall of Famer Paul Pierce for touting EMAX tokens and making misleading comments about unregistered crypto securities. The former Boston Celtics small forward agreed to settle the charges and pay the SEC $1.409 million. SEC Chair Gary Gensler Wants to Remind Celebrities of Disclosure Laws […]

Finance News

Terraform Labs and CEO Do Kwon Charged by SEC With Multibillion-Dollar Crypto Fraud

Coins Legend February 16, 2023 0

The U.S. Securities and Exchange Commission (SEC) has charged Terraform Labs and its CEO, Do Hyeong Kwon, with fraud, alleging that Kwon and his company orchestrated “a multibillion-dollar crypto-asset securities fraud.” The securities watchdog insists that Kwon raised billions from investors by creating an “interconnected suite of crypto-asset securities,” many of which

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SEC-retly Failing: How the SEC Is Letting Crypto Down

Coins Legend February 16, 2023 0

When Gary Gensler (ex-Goldman Sachs investment banker) was announced as the new head of the Securities and Exchange Commission (SEC) in February 2021, the crypto industry saw a glimpse of hope. After all, the man in charge of regulating the industry was a “crypto native,” having taught a course on the subject at MIT. However, […]

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SEC Chairman Proposes Amending Federal Custody Rules to Cover ‘All Crypto Assets’

Coins Legend February 16, 2023 0

U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has proposed amending federal custody rules to cover “all crypto assets.” The SEC chief said: “Though some crypto trading and lending platforms may claim to custody investors’ crypto, that does not mean they are qualified custodians.” Gary Gensler Proposes Including Crypto in Expanded Custody Rules The

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SEC and CFTC Lawsuits Against Former FTX CEO Paused Until Criminal Proceedings Conclude

Coins Legend February 14, 2023 0

Two civil lawsuits, stemming from the U.S. Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC), against former FTX CEO Sam Bankman-Fried will be paused until his criminal proceedings are complete. US Attorney Requests Pause on SEC and CFTC Lawsuits to Prevent ‘Judicial Overlap’ According to the latest decision by a New […]

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Paxos Receives Wells Notice from SEC, NYDFS Orders Issuer to Stop Minting BUSD

Coins Legend February 13, 2023 0

According to a report published on Feb. 12, 2023, the New York-based financial institution and technology company, Paxos, has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC) regarding alleged violations of investor protection laws. Paxos revealed the following day that it would no longer mint BUSD and it was ending its […]

Exchanges News

Coinbase Argues Its Staking Services Are Not Securities, Criticizes SEC Regulatory Approach

Coins Legend February 13, 2023 0

Coinbase, one of the biggest cryptocurrency exchanges in the U.S., has stated that the staking services offered on its platform do not constitute securities. The statements, made in the wake of the $30 million settlement that Kraken, another U.S.-based crypto exchange, completed with the U.S. Securities and Exchange Commission (SEC), also criticize the institution’s