SEC | FinTelegram News

Category: SEC

July 1, 2024

Embattled US Regulator SEC Charges Consensys Software for Unregistered Securities Sales and Broker Operations!

Consensys Software Inc., a blockchain software company founded by Joseph Lubin in 2015, is best known for developing the MetaMask cryptocurrency wallet and Infura blockchain node infrastructure service. The U.S. Securities and Exchange Commission (SEC) has charged Consensys with the unregistered offer and sale of securities through its MetaMask Staking service and operating as an unregistered broker via MetaMask Staking and MetaMask Swaps.

June 27, 2024

Supreme Court Rejects SEC’s Use of Administrative Tribunals: A Landmark Decision

In a interesting decision impacting the regulatory landscape, the U.S. Supreme Court has invalidated a principal method the U.S. Securities and Exchange Commission (SEC) employs to enforce securities fraud laws. The ruling, delivered on Thursday, declared that the SEC's practice of using internal tribunals for enforcement actions violates the Constitution. Under the leadership of Gary Gensler, the SEC has recently been heavily criticized for its crypto activities.

June 17, 2024

SEC Challenges Ripple’s Request for Reduced Penalty

The U.S. SEC has dismissed Ripple Labs' request for a lower penalty, asserting that it would be insufficient and should not be compared to its settlement with Terraform Labs. On June 13, Ripple appealed to Judge Analisa Torres for a penalty "no more than $10 million," significantly less than the SEC's proposed $876.3 million civil penalty. Ripple referenced the SEC's settlement with Terraform Labs as a precedent.

June 2, 2024

U.S. SEC and DOJ Charge Robert Scott Murray and Trillium Capital with Securities Fraud!

The U.S. SEC and the DOJ filed charges against Robert Scott Murray and his private company, Trillium Capital LLC, for allegedly orchestrating a fraudulent scheme to manipulate the stock price of Getty Images Holdings Inc. by announcing a sham offer to purchase the company. Murray has previously held CEO and CFO positions in several publicly traded companies. In a parallel action, Murray pleaded guilty to criminal charges in this context.

May 24, 2024

Wall Street Goes Crypto: SEC Approves Ethereum ETFs, Marking a Major Milestone for Crypto Industry

In an unexpected fast decision, the U.S. Securities and Exchange Commission (SEC) has approved applications from major exchanges, including Nasdaq, CBOE, and NYSE, to list exchange-traded funds (ETFs) tied to the price of ether. This approval marks a significant step forward for the cryptocurrency industry, potentially paving the way for these ether ETF products to begin trading later this year, pending final approval of their ETF registration statements.

May 7, 2024

Robinhood Crypto Faces Potential SEC Enforcement Over Cryptocurrency Operations

Robinhood, the U.S. fintech renowned for pioneering commission-free stock trading, is currently under scrutiny from the U.S. Securities and Exchange Commission (SEC) for its crypto business, Bloomberg reports. In a Wells Notice, the U.S. regulator informed Robinhood that it faces enforcement action over its crypto business — the latest sign that the SEC isn’t letting up on its years-long crackdown on digital assets.

May 6, 2024

BF Borgers CPA and Owner Charged for “Sham Audit Mill” Operation in Massive SEC Action

The U.S. Securities and Exchange Commission (SEC) has taken decisive action against BF Borgers CPA PC and its owner, Benjamin F. Borgers, charging them with extensive failures in their audit practices, affecting over 1,500 SEC filings between January 2021 and June 2023. The firm, which audited Trump Media, among other clients, has been labeled a "sham audit mill," accused of generating false documents, conducting non-existent work, and creating fictitious meeting records.

April 28, 2024

Coinbase’s Legal Battle with SEC Represents 52 Million U.S. Crypto Traders, Says its CLO Paul Grewal!

Coinbase, the leading U.S. crypto exchange, is embroiled in a significant legal battle with the U.S. Securities and Exchange Commission (SEC). According to Coinbase's Chief Legal Officer (CLO) Paul Grewal, this dispute represents not just a legal challenge but a pivotal moment for the 52 million Americans who own crypto Among other things, the SEC accuses Coinbase of enabling trading in security tokens on its platform without proper registration.

April 28, 2024

SEC Accuses Texas Crypto Mining Firm Geosyn of $5.6 Million Fraud

The U.S. Securities and Exchange Commission (SEC) has leveled serious allegations against Geosyn, a Texas-based cryptocurrency mining and hosting company, and its co-founders, Caleb Ward and Jeremy McNutt. The SEC claims that the company and its founders engaged in a $5.6 million fraud scheme, deceiving more than 60 investors. Moreover, Ward and McNutt allegedly misappropriated about $1.2 million for personal use.

April 23, 2024

Resignations at The U.S. SEC Increases Pressure on Controversial Chair Gary Gensler!

The U.S. regulator, the Securities and Exchange Commission (SEC), is in difficult waters. Most recently, Chair Gary Gensler publicly expressed his confidence in the regulator on X. However, this comment has caused even more unrest and fueled speculation about Gensler's resignation. Most recently, the two SEC lawyers, Michael Welsh and Joseph Watkins, have resigned following a district court's severe reprimand of the agency for "gross abuse" of power.

April 13, 2024

Coinbase Challenges SEC’s Overreach in Crypto Regulation with Strategic Appeal to Higher Court

Amidst the ongoing crypto bull run, Coinbase, one of the United States' leading crypto exchanges, is escalating its battle against the U.S. Securities and Exchange Commission (SEC) by appealing to the U.S. Court of Appeals for the Second Circuit. This move highlights the ongoing contention over the SEC's approach to regulating digital asset transactions, particularly its application of the Howey test to cryptocurrency trades on the secondary market.

April 11, 2024

Uniswap Braces for SEC Legal Challenge: A DeFi Sector Standoff

Uniswap, a cornerstone of decentralized finance (DeFi), has been served a Wells notice by the U.S. Securities and Exchange Commission (SEC), signaling impending enforcement actions. This marks a significant moment in the ongoing regulatory scrutiny faced by the DeFi industry. Uniswap CEO Hayden Adams has voiced his determination to contest the SEC's position, saying "I think freedom is worth fighting for. I think DeFi is worth fighting for."

The Unraveling of Rabidi and the Rise of the SoftSwiss Network: Our Updated Forensic Report

A few months ago, FinTelegram released a first forensic report on the bankruptcy of Rabidi N.V., a Curacao-registered online casino operator with hundreds of millions in revenues — and no traceable assets by the time of its collapse in May 2024. That report already raised serious questions about the opaque structures behind Rabidi’s operations and its successor, Liernin Enterprises Ltd.

DeFi Decoded: Smart Contracts – The Code Behind the DeFi Revolution

Smart contracts are the invisible architects of decentralized finance. These self-executing lines of code run everything from token swaps to lending platforms without middlemen. But while they offer autonomy, they also introduce new risks—bugs, exploits, and irreversible mistakes. In this fourth installment of our FinTelegram DeFi Series, we explain what smart contracts are.

CFTC

Despite New Crypto Friendlyness: No Settlement Between U.S. CFTC And KuCoin?

A planned settlement between the U.S.CFTC and crypto exchange KuCoin is now in limbo due to a reported policy shift within the CFTC. This change is attributed to the Trump administration’s new approach, which deprioritizes enforcement actions against crypto companies. As a result, a CFTC attorney said that it is "unlikely that such authorization will be granted in the near term" regarding the settlement approval.

SEC’s New Era: Paul Atkins Sworn In—Will Crypto Finally Get the Regulatory Clarity It Deserves?

The U.S. Securities and Exchange Commission (SEC) has entered a new chapter with the swearing-in of Paul S. Atkins as its 34th Chairman, a move widely anticipated to mark a dramatic pivot in how the agency approaches crypto and DeFi regulation. For years, the financial industry—especially the burgeoning digital asset sector—has bristled under the SEC’s “Regulation by Enforcement” strategy.

Crypto Mogul Changpeng Zhao – Fallen, Rich, and Rising Again?

As spring 2025 blooms and Easter’s themes of rebirth fill the air, Changpeng Zhao emerges as one of the most controversial figures of startup mythology: a man who fell spectacularly, paid a price—then rose again, wealthier and louder than ever. Once the almighty architect of Binance, CZ now resides in Dubai with a net worth that Forbes estimates at $63 billion.