SEC Sends Inquiry Letters to Hundreds of Bitcoin Companies about Unregistered Securities
Hundreds of Bitcoin companies that have released unregistered securities on Counterparty, Cryptostocks will be sent inquiry letters by the SEC. The SEC is asking these Bitcoin companies to voluntarily hand over any documentation that they have regarding their unregistered securities offering. Many Bitcoin companies have been anticipating such action from the SEC and have the necessary information already prepared. On the other hand, other companies may choose to argue that their Counterparty tokens are not securities in any way shape or form. The SEC first tackled a Bitcoin company's....
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Happy Sunday, and welcome back to another Bitcoin News in Review, where we feature some of the biggest stories of the week here on CryptoCoins News. This week (26 October - 2 November), it was revealed that the United States Securities and Exchange Commission will send out inquiry letters to hundreds of bitcoin companies, the bitcoin price continued a slow and steady decline, Drupal and CurrentC were targets of cyberattacks, and more. Keep scrolling for this week's top stories. SEC Sends Out Inquiry Letters to Hundreds of Bitcoin Companies. The U. S. SEC was created to regulate the stock....
This week, FinCEN ( The Financial Crimes Enforcement Network) passed two rulings that provided clarification on digital currency business models that now must register with FinCEN as a money service business. These businesses are now subject to FinCEN's compliance obligations. It is also known that SEC (the Securities and Exchange Commission) has issued a large amount of action letters to companies in the digital currency sector. Many digital currency companies will need to take both proactive and reactive actions in response to the letters. Also read: SEC Sends Inquiry Letters to Hundreds....
The Financial Crimes Enforcement Network (FinCEN) has sent out warning letters to bitcoin-related businesses notifying them that they must comply with federal money transmission laws, according to reports. FinCEN, a unit of the US Treasury Department, has sent out "industry outreach" letters regarding anti-money laundering practices. Around a dozen letters have been delivered to bitcoin businesses so far. Back in November, Jennifer Shasky Calvery, the head of FinCEN, suggested at a Senate hearing that virtual currency exchanges and administrators should do three things: register with....
The cryptosphere has one of its entities running into some major issues with the regulators. The U.S. Securities and Exchange Commission has been quite busy these days going after companies. This time, it has its whip readied against crypto firm Hydrogen, who it accuses of selling unregistered securities. Hydrogen’s market maker Moonwalkers Trading and its […]
In the last 24 hours, a couple of developments coming out of the US have shaken up American cryptocurrency communities. First, the US Securities Exchange Commission has sent out letters to possibly hundreds of crypto-companies asking them to voluntarily hand over documents relating to their crowdsales. The SEC is clearly concerned with whether such crowdsales run afoul of the commission’s regulations, and there is a gag order attached to these requests for voluntary cooperation. Second, the Financial Crimes Enforcement Network (FinCEN) has offered a little clarity on its position regarding....