SEC

Kik Suffers Setbacks With ‘Void for Vagueness’ Defense in SEC Case

Kik is struggling to mount a strong defense in a case brought by the U.S. Securities and Exchange Commission (SEC) over its $100 million initial coin offering. As reported last month, Toronto-based Kik’s legal team attempted to persuade the district court of the Southern District of New York that the SEC’s case – alleging the 2017 …

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Telegram Refutes All SEC Allegations, Asks Court to Dismiss in New Filing

Messaging app firm Telegram has made a new plea to a U.S. court to drop an action brought by the Securities and Exchange Commission (SEC) alleging its yet-to-be launched token is a security. In a filing to the district court of the Southern District of New York on Tuesday, Telegram broke down and refuted all …

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Pro-Crypto Silvergate Bank Goes Public in Listing on NYSE

Shares of pro-crypto Silvergate Bank were launched for trading on the New York Stock Exchange (NYSE) on Nov. 7. Silvergate celebrates IPO day Silvergate Capital (NYSE:SI), a California-based commercial bank focused on digital currency businesses, is now officially listed on the NYSE, opening at $12.75, the NYSE tweeted Nov. 7. In conjunction with the event, …

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OSC Commissioner Debunks Arguments Against Bitcoin, Green-Lights Bitcoin Fund

<header class=”article__header”> </header> <strong>A commissioner of the Ontario Securities Commission (OSC) has debunked the arguments against bitcoin used to deny the public offering of The Bitcoin Fund. Among others, the commissioner rules that bitcoin is neither illiquid nor more susceptible to manipulation than other commodities, real volume and real trading in bitcoin exist, and it …

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Bitmain’s New IPO Attempt in Jeopardy as In-Fighting Goes Public

In 2017, Bitmain ruled the roost and all eyes were on China, but 2018 was a barren year for cryptocurrency. Prices plummeted. Companies crumpled. The long-awaited initial public offerings of two crypto mining titans, Bitmain and Canaan Creative, failed at the final hurdle as the crypto winter humbled even the most ambitious crypto companies.  But …

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NY Court Orders Veritaseum to Pay Back $8 Million From Illegal ICO

The CEO of Delaware-registered blockchain firm Veritaseum LLC and New York-registered Veritaseum Inc., Reggie Middleton, was ordered to pay $8.4 million in disgorgement, according to a new court order. Additionally, Middleton is liable for a civil penalty of $1 million, fintech publication FinanceFeeds reported on Nov. 1, citing a court order issued on Oct. 31. …

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Security Token Platform Receives Transfer Agent License From SEC

Harbor, the digital platform for alternative assets, has received a transfer agent license from the United States Securities and Exchange Commission (SEC). On Oct. 31, Harbor CEO Joshua Stein told the Block that his blockchain-enabled platform is “now the first blockchain company to receive both a transfer agent license and a broker-dealer license.” Transfer agent …

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SEC, CFTC Charge XBT Group With Selling Unregistered Swaps for Bitcoin

U.S. regulators filed charges against XBT Corp. Thursday, alleging the company failed to register as a futures commission merchant (FCM). In simultaneous press releases, the Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) alleged that XBT, otherwise known as First Global Credit, sold security-based swaps for bitcoin without registering on a …

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Mining Giant Bitmain Confidentially Files for U.S.-Based IPO

<header class=”article__header”> </header> <strong>According to reports, bitcoin mining manufacturer Bitmain Technologies confidentially filed for a U.S.-based initial public offering (IPO) with the Securities and Exchange Commission. The news follows the alleged removal of cofounder and executive director Micree Zhan and the recent announcement of a facility in Texas with the capacity to house 300MW of …

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Avalon Mining Rig Maker Canaan Files for $400M IPO on Nasdaq

<header class=”article__header”> </header> <strong>Mining rig manufacturer Canaan has filed for an IPO with the U.S. Securities and Exchange Commission to raise $400 million on the Nasdaq Global Market. Prior to this filing, the company had also attempted to go public in Hong Kong and China. Credit Suisse and Citigroup are among its underwriters.</strong> Also read: …

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