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Before giving up on Ecoinplus, however, the CFTC alleges that Golden and Patel found a new business partner in Aggeson, a New York entrepreneur, and an unnamed accomplice. Modeling the new site on Ecoinplus (and taking steps to distance themselves from the Ecoinplus scheme), they created JetCoin, according to the
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The founder of the $3.4 billion crypto Ponzi scheme Bitconnect has been charged in the United States. “If convicted of all counts, he faces a maximum total penalty of 70 years in prison,” said the U.S. Department of Justice. Bitconnect’s Founder Could Go to Prison for 70 Years The U.S. Department
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TZERO proposed the settlement, which the SEC accepted, according to the order. Under the terms of the settlement, TZERO is neither admitting nor denying the SEC’s findings. This is the SEC’s second enforcement action and settlement in 2022, following a settlement with decentralized prediction market Polymarket earlier this month. Original Source
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The U.S. Securities and Exchange Commission (SEC) has charged an Australian citizen who called himself the “Man behind the Machine” in a fraudulent crypto scheme that raised almost $41 million. He and his companies made “materially false and misleading statements in connection with an unregistered offer and sale of digital
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“As alleged, Sproule and Crowd Machine misled investors about how they were using ICO proceeds, spending funds on an entirely unrelated scheme,” Kristina Littman, Chief of the SEC Enforcement Division’s Cyber Unit said in the statement. “We will continue to hold accountable issuers of digital asset securities who fail to
Read MoreOver 45,000 Bitcoin has been withdrawn from BitMex since the U.S. government levied charges against the exchange and its leadership. October 1 brought two devastating blows to BitMex. First, the CFTC and DOJ brought charges against the exchange. Shortly thereafter, its founders (including CEO Arthur Hayes), were indicted by the U.S. government. The
Read MoreIn the aftermath of criminal charges against BitMEX, the crypto community is debating whether the decentralized finance sector is also set to face the wrath of regulators.On Oct 1, the U.S. Commodity Futures Trading Commission announced charges against three BitMEX executives for violating the Bank Secrecy Act (BSA) due to
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