Enforcement

CFTC Sues Alleged Crypto Ponzi Scammer for $500K Theft

The U.S. Commodity Futures Trading Commission (CFTC) is suing an alleged Ponzi scammer on claims he and his company raised half a million dollars for cryptocurrency investments, which instead went to personal uses. According to a press release, Breonna Clark, otherwise known as Eliot Clark or Alexander Pak, and his firm Venture Capital Investments Ltd. …

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ICOs Are Dead But ICO Scammers Are Immortal

<header class=”article__header”> </header> <strong>The initial coin offering may have all but died, but the ICO scammer marches on regardless. Whereas legitimate projects have to wrangle with all kinds of challenges including the strength of the market, generating value for investors, creating a real product and actually delivering on the promises they make, the soulless scammer …

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SEC Commissioner Speaks Positively About Digital Assets Despite Recent Enforcement Flurry

<header class=”article__header”> </header> <strong>The U.S. Securities and Exchange Commission (SEC) regularly draws the ire of crypto proponents who are frustrated at its failure to support innovation and entrepreneurship. Despite this, some have warmed to the agency’s opinionated commissioner Hester Peirce, who has adopted the moniker of “Crypto Mom.” At a compliance conference this week, Peirce …

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SEC Charges Token Sale Platform ICOBox With Securities Violations

The U.S. Securities and Exchange Commission (SEC) alleged that ICOBox and founder Nikolay Evdokimov violated U.S. securities laws with its 2017 token sale and subsequent activity facilitating other initial coin offerings (ICOs). According to a press release Wednesday, Evdokimov raised $14.6 million by selling ICOS tokens to more than 2,000 individuals, promising customers that the …

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SEC Settles Unregistered Securities Charges Against ICO Issuer Gladius

Crypto startup Gladius Network LLC has settled charges of running an unregistered securities offering with the U.S. Securities and Exchange Commission (SEC), the regulator announced Wednesday. Gladius Network conducted an initial coin offering (ICO) near the end of 2017, raising $12.7 million in the form of nearly 24,000 ETH. In a press release, the SEC …

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