SEC’s Christopher Hetner To Exit Post As Sr. Advisor For Cybersecurity

News, Regulation | September 19, 2018 By:

The Securities and Exchange Commission has announced that Christopher R. Hetner, senior advisor to chairman Jay Clayton for cybersecurity policy, plans to leave the agency. Hetner will remain in the chairman’s office during the identification of and transition to his successor.

Hetner previously served as senior advisor for cybersecurity policy for former Chair Mary Jo White and former acting chairman Michael Piwowar.

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SEC Cracks Down On “ICO Superstore” For Selling Unregistered Securities

Investing, News, Regulation | September 11, 2018 By:

The Securities and Exchange Commission has announced that TokenLot LLC, a self-described “ICO Superstore,” and its owners will settle charges that they acted as unregistered broker-dealers.

This is the SEC’s first case charging unregistered broker-dealers for selling digital tokens after the SEC issued The DAO Report in 2017 cautioning that those who offer and sell digital securities must comply with the federal securities laws.

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SEC Initiates First Action Against Hedge Fund Manager For Unregulated Digital Assets

Investing, News, Regulation | September 11, 2018 By:

 

The Securities and Exchange Commission has initiated its first enforcement action finding an investment company registration violation by a hedge fund manager based on its investments in digital assets.

The SEC entered an order finding that Crypto Asset Management LP (CAM) offered a fund that operated as an unregistered investment company,

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SEC Suspends Trading In Bitcoin Tracker One, Ether Tracker One

Investing, News | September 9, 2018 By:

The Securities and Exchange Commission has temporarily suspended trading in the securities Bitcoin Tracker One (“CXBTF”) and Ether Tracker One (“CETHF”) commencing at 5:30 p.m. EDT on September 9, 2018, and terminating at 11:59 p.m. EDT on September 20, 2018.

The suspension is pursuant to Section 12(k) of the Securities Exchange Act of 1934 (the “Exchange Act”).

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SEC Bars Founder For Fraud ICO To Fund Oil Exploration

Crime, ICO News, Investing, News | August 14, 2018 By:

The Securities and Exchange Commission today obtained permanent officer-and-director and penny stock bars against the founder of a company who perpetrated a fraudulent initial coin offering (ICO) to fund oil exploration and drilling in California.

According to the SEC’s order, David T. Laurance and Tomahawk Exploration LLC attempted to raise money through the sale of blockchain-based digital tokens called “Tomahawkcoins.” The SEC’s order finds that the defendants’ promotional materials used inflated projections of oil production that were contradicted by the company’s own internal analysis and misleadingly suggested that Tomahawk possessed leases for drilling sites when it did not.  

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