SEC Orders Crypto Firm to Pay Harmed Investors $35 Million — Charges Influenc...
The U.S. Securities and Exchange Commission (SEC) has ordered crypto firm Sparkster and its CEO to pay $35 million into a fund for distribution to harmed investors. The securities regulator also charged crypto influencer Ian Balina for promoting crypto tokens without disclosing compensation received. SEC’s Cease-and-Desist Order Against Unregistered Crypto Firm The U.S. Securities and Exchange Commission (SEC) announced Monday that it has issued a cease-and-desist order against Sparkster Ltd. and its CEO, Sajjad Daya, “for the unregistered offer and sale of crypto....
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XRP is unsurprisingly lagging behind the rest of the incredibly bullish crypto market and altcoin space. The SEC’s charges against Ripple executives asserting that the token itself is an unregistered security have harmed any chance of upward momentum. It has also caused the altcoin to sink further and further down the ranks of the top […]
Under the orders, FTX Japan will be required to suspend OTC derivatives transactions and related margins as well as new deposits from Nov. 10 to Dec. 9 unless the FSA steps in. The Financial Services Agency, or FSA, of Japan has requested FTX Japan suspend business orders, citing the policies of FTX Trading Limited.In a Nov. 10 announcement, the FSA said it had taken administrative actions against FTX Japan following FTX Trading Limited’s suspension of withdrawals “without explaining the reasons clearly to investors.” The financial regulator said it had issued suspension orders and....
Crypto Israeli investor and prominent businessman Moshe Hogeg is set to face charges for his alleged involvement in a $290 million scam, according to a report by Bloomberg on Wednesday. Over the last two years, Hogeg has been investigated by the Israeli Police for allegedly duping thousands of investors through several proposed crypto businesses. Related […]
The US Securities and Exchange Commission’s (SEC) annual enforcement report for Fiscal Year (FY) 2023, detailing the filing of 784 enforcement actions, orders for nearly $5 billion in financial remedies, and distribution of nearly $1 billion to harmed investors, has sparked a fervent response from the XRP community. SEC Chair Gary Gensler emphasized the significance […]