The Securities and Exchange Commission (SEC) of US as confirmed the charges with a blockchain-powered healthcare firm, SimplyVital Health, Inc. has been settled. The blockchain firm has been running an unregistered securities during 2017-2018 where they had offered 6.3 million worth dollars to the public ans planning Initial Coin Offering (ICO) for its HLTH (Health Cash), a token. Now the company has voluntarily returned all the funds it had raised through the pre-sale substantially to the investors.
The U.S. Securities and Exchange Commission (SEC) has recently urged the providers of blockchain data to enhance their compliance. The SEC mainly focuses it target Bitcoin and Ethereum blockchains while also keeping tabs on others like Bitcoin Cash, Stellar, Zcash etc,. This indicates that the SEC is putting the blockchain and cryptocurrency related activities under strict watch and control.
Kik is transferring the control of its crypto defend fund (a crowdfunding initiative) which was raised for the task of its legal fight with U.S. Securities and Exchange Commission (USSEC) to Blockchain Association (a lobbyist group). In their joint statement, “Once the case against Kik is resolved, all remaining funds, including any portion of the initial $5 mn contribution, will be allocated to a nonprofit organization to be used for other initiatives that help with innovation in our industry,”
U.S. Securities and Exchange Commission has announced that some startups which issued initial coin offerings (ICO) few years ago may get relief from potential enforcement actions. It is also notable that TurnKey Jets, which secured a no-action letter earlier this year. William Hinman, SEC Director of Corporation Finance said, “Digital assets may evolve into an instrument that no longer needs to be regulated as such,”
A crypto defense fund dubbed as Defend Crypto has been propelled by Kik (a public blockchain application) through crowdfunding source to fight the U.S. Securities and Exchanges Commission with a self adopted motto “on behalf of the future of crypto in the US.” Kik explained, “After months of trying to find a reasonable solution, Kin (its crypto) has been unable to reach a settlement that wouldn’t severely impact the Kin project and everyone in the space.”
Argyle Coin (headquartered in South Florida) which boasted itself as world’s first cryptocurrency with tokens pegged to diamonds, is ordered to halt its ICO (initial coin offering) by US Securities and Exchange Commission (SEC) and as emergency measure all of its assets frozen, because of charges against its principal Jose Angel Aman. SEC took hardline against the firm by calling the project as an outright securities fraud and a form of ponzi scheme.
The United States Securities and Exchange Commission (SEC) has delayed its decision on the VanEck bitcoin exchange-traded fund (ETF) proposal. The SEC has added a 35 day period for gathering more information and opinions on the proposal, which was initially filed by the Chicago Board Options Exchange (CBOE) last year. The SEC previously delayed its decision on the Securities Act update proposal which would allow bitcoin ETFs to be traded on CBOE.
The United States Securities and Exchange Commission (SEC) has recently fined the CEO of NextBlock Global Alex Tapscott worth of $25,000. The SEC then explained, “These misrepresentations were part of the selling point of NextBlock’s fundraising effort: that NextBlock and Tapscott had access to, and unparalleled relationships with, opinion-makers, the best entrepreneurs, and the highest profile figures in the blockchain community.”
US Securities and Exchange Commission (SEC) commissioner Hester Peirce showed her concern that delays by the SEC in determining regulations for cryptocurrency may have hampered progress in the industry. Nicknamed Crypto Mom for her past words in support of the industry, Peirce was speaking at the Securities Enforcement Forum in East Palo Alto, California. Back in February, Peirce proposed that a protracted process of US crypto regulation could be positive, allowing more freedom for the industry to mature on its own.
The US Securities and Exchange Commission (SEC) has shared their plan to organize a public forum which will be discussing the blockchain and cryptocurrency assets. The press release published by the SEC, however, didn’t provide much information to the public forum however made it clear that the forum will be focusing on “active engagement with market participants on new financial technologies”.