SEC | FinTelegram News

Category: SEC

February 7, 2024

SEC Charges Chinese Tech Company Cloopen Group with Accounting Fraud But Did Not Impose Penalties!

In a recent announcement, the U.S. Securities and Exchange Commission (SEC) has decided not to impose civil penalties on Cloopen Group Holding Limited, a Chinese cloud communications company. This decision came after Cloopen's American depositary shares were previously traded on the NYSE. The SEC's leniency. was attributed to Cloopen's proactive approach, which included self-reporting the issues.

February 3, 2024

The Fall of an Online Crypto Guru and His $1.2 Million Student Swindle!

The U.S. Securities and Exchange Commission (SEC) has brought the hammer down on Brian Sewell, the founder of the American Bitcoin Academy, and his company, Rockwell Capital Management. The duo stands accused of orchestrating a fraudulent scheme that preyed on the aspirations and wallets of students eager to navigate the tempestuous seas of cryptocurrency trading. Sewell allegedly swindled $1.2 million from academy students.

January 30, 2024

Finally! U.S. DOJ And SEC Filed Charges Against Crypto Fraud Scheme HyperFund

The U.S. Securities and Exchange Commission (SEC) is continuing its enforcement actions in the crypto sector. The agency announced charges against Xue Lee (also known as Sam Lee), an Australian citizen who lives in Dubai, who is accused of co-founding crypto MLM scheme HyperFund, as well as two promoters, Rodney Burton of Miami, and Brenda Chunga of Severna Park, Maryland. The U.S. Department of Justice (DOJ) announced criminal charges against these three individuals.

SEC
ticker

January 23, 2024

Analysis: The SEC’s Regulatory Failings – A Critique of “Regulation by Enforcement” in the Crypto Sector!

In the wake of the SEC’s ongoing legal crusades against major crypto entities like Ripple, Coinbase, and Binance, a glaring spotlight shines on the Commission's archaic and confrontational regulatory approach. Spearheaded by its Democratic Chair, Gary Gensler, the SEC's reliance on the nearly 80-year-old Howey Test to regulate the burgeoning crypto industry is not just anachronistic; it's a flagrant display of regulatory negligence.

January 23, 2024

SEC v Binance: Another Legal Battle Defining the Crypto Industry’s Future

In a series of high-profile legal battles, the U.S. Securities and Exchange Commission (SEC) is intensifying its scrutiny of the crypto industry. Following the recent SEC v. Coinbase case, Binance, the world's largest crypto exchange, finds itself in the legal crosshairs. At the heart of these disputes lies a critical question: Are certain cryptocurrencies securities as defined by the Howey Test?

January 19, 2024

SEC Lawsuits Against Binance and Coinbase: The Next Pivotal Moments for the Crypto Industry!

The U.S. SEC plays a central role in the global crypto industry. Following the approval of the ETFs, further important clarifications are pending. The SEC lawsuits against prominent crypto exchanges Binance and Coinbase are landmark cases with transformative implications for the crypto industry. These legal battles hinge on crucial issues surrounding the definition of security tokens and the regulatory obligations of token issuers and exchanges.

January 19, 2024

SEC vs. Coinbase: The Ongoing Legal Battle Over Security Tokens and Crypto Staking

The ongoing lawsuit between the SEC and Coinbase has garnered significant attention due to its implications for defining security tokens and regulating crypto staking. The SEC alleges that Coinbase, by offering certain tokens and a staking-as-a-service program, has been operating as an unregistered national securities exchange, broker, and clearing agency. The Judge has been closely scrutinizing the SEC's definitions and claims, indicating the complexity and potential broad impact of the case.

January 12, 2024

The Day After – Crypto ETFs and the Irony of Wall Street’s Latest Craze

Yesterday marked a historic moment in the world of cryptocurrencies as the SEC finally nodded in agreement, giving the green light to not one, not two, but eleven spot Bitcoin ETFs. The crypto world, long seen as the rebellious teenager of the financial markets, has finally been invited to the Wall Street's fancy dinner party. And oh, what an entrance it made! The crypto industry was enthusiastic and confirmed. And rightly so!

Crypto
SEC

January 11, 2024

Finally! U.S. SEC Approves Crypto ETFS, But Markets Are Not Impressed!

Well, buckle up (or so) because it looks like the U.S. Securities and Exchange Commission (SEC) has finally decided to join the crypto party – albeit fashionably late and with a bit of a grumble. In what can only be described as a long-overdue nod to the future (or an admission of the inevitable), the SEC has given the green light to the first U.S.-listed exchange-traded funds (ETFs) to track bitcoin. It's a "watershed moment," they say, for the beloved cryptocurrency and the crypto industry at large.

January 10, 2024

The Curious Case of the SEC’s Twitter Account and the Mischievous Bitcoin ETF Tweet

In the latest episode of "Cryptocurrency Rumors Gone Wild," the U.S. Securities and Exchange Commission (SEC) is inadvertently playing the lead role. Picture this: a tweet pops up from the SEC's official X handle, announcing the long-awaited approval of bitcoin ETFs. The crypto world goes into a frenzy, with Bitcoin's price momentarily soaring like a rocket... only to come crashing down quicker than a failed SpaceX landing.

January 7, 2024

BlackRock’s Alleged $2 Billion Bitcoin ETF Bonanza – A Rumor-Driven Crypto Carousel

Ah, the crypto world - where rumors are the new market analysts, and speculation is the daily bread. What was the latest dish served in this grand buffet of guesswork? BlackRock, the globe-trotting asset manager giant, reportedly having a whopping $2 billion tucked under its belt for the grand unveiling of its spot bitcoin ETF. Yes, you read that right, $2 billion – and all this supposedly lined up within days of its launch.

December 31, 2023

The Controversial Tenure of SEC Chair Gary Gensler and Calls for His Removal in 2024!

The role of the U.S. SEC Chair is inherently political, and the current Chair, Gary Gensler, is no exception. Appointed amidst his close affiliations with the Democrats and significant involvement in Hillary Clinton's campaign, Gensler's position has naturally attracted political adversaries. Now, two U.S. lawmakers, Representatives Warren Davidson (R-OH) and Tom Emmer (R-MN), are spearheading a campaign for his removal.

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.