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Security tokens, however, are struggling amid a lack of regulatory clarity, and the all-too-familiar regulation-by-enforcement approach of the U.S. Securities and Exchange Commission (SEC). To pick an example, starting in 2016 LBRY – a decentralized storage protocol and media service – financed its development through the issue of LBC tokens,
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Recent data shows that Silvergate Bank, a crypto-friendly financial institution, has become the most shorted stock in the United States, according to the Financial Industry Regulatory Authority. On Tuesday, Silvergate’s stock saw a rise after it was discovered that Citadel Securities holds a 5.5% stake in the bank, according to
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An SEC filing shows the stake, which doesn’t necessarily represent a new investment strategy. Source
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Coinbase, one of the biggest cryptocurrency exchanges in the U.S., has stated that the staking services offered on its platform do not constitute securities. The statements, made in the wake of the $30 million settlement that Kraken, another U.S.-based crypto exchange, completed with the U.S. Securities and Exchange Commission (SEC),
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Cryptocurrency exchange Kraken is reportedly being probed by the United States Securities and Exchange Commission (SEC) over whether it breached rules around the offering of securities. According to a Feb. 8 Bloomberg report, the probe relates to certain offerings that Kraken has made to U.S. clients. A person with knowledge of
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Proposed laws in Israel that would see cryptocurrencies classified as securities would cause huge damage to the local crypto industry, according to the chief of an Israeli crypto service provider.Cryptox Magazine editor, Andrew Fenton, spoke with Ilan Sterk, the CEO of Altshuler Shaham Horizon in Tel Aviv, Israel. The firm
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“The tokens’ value is driven by market forces, not managerial efforts – as evidenced by the fact that the tokens are almost all functional (i.e., they can operate without any centralized intermediary) and that each experiences wide price fluctuations, regardless of the status of the underlying platform,” according to the
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Self-directed IRAs sometimes offer crypto investments, the SEC said, and those “may be securities that are offered without SEC registration or a valid exemption from registration, and may not be accompanied by complete or accurate information to aid investors in making informed decisions.” Source
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According to the bill, the requirements that crypto companies will have to follow include the protection of users, the security and efficiency in the development of operations, the security of public savings and the prevention of money laundering, among others. Original Source
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Regulators in Hong Kong are stepping up their game when it comes to monitoring the activities of the crypto industry. According to a Securities and Futures Commission report filed on Feb. 6, it plans to hire four additional staff to “better supervise” the activities of local virtual asset (VA) providers. Moreover, the
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