SEC seeks judgement after 'no show’ in $9M Meta 1 Coin fraud case
The SEC is seeking a default judgment against three companies and four individuals for their roles in an allegedly fraudulent ICO that duped $9 million from 500 investors. The U.S. Securities and Exchange Commission has requested a default judgment against three companies and four individuals associated with the allegedly fraudulent art and gold-backed cryptocurrency Meta 1 Coin.The SEC filed its Nov. 18 motion for a default judgment after the defendants failed to appear to put their case, despite having corresponded with both the court and legal representation. The defendants are Meta 1....
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Six U.S. senators have demanded answers from Meta CEO Mark Zuckerberg about how his company is handling cryptocurrency scams on its social media platforms, including Facebook, Instagram, and Whatsapp. “We are concerned that Meta provides a breeding ground for cryptocurrency fraud that causes significant harm to consumers,” the lawmakers wrote.
Senators Want Answers From Mark Zuckerberg and Meta Platforms
U.S. Senators Robert Menendez, Sherrod Brown, Elizabeth Warren, Dianne Feinstein, Bernard Sanders, and Cory A. Booker jointly sent a letter on Thursday to Mark....
Meta Platforms Inc., formerly Facebook, has filed five trademark applications for “Meta Pay.” The filings cover a wide range of cryptocurrency services. The company is renaming Facebook Pay to Meta Pay.
Trademark Applications for Meta Pay
Meta Platforms Inc., formerly Facebook, filed five trademark applications for “Meta Pay” with the United States Patent and Trademark Office (USPTO) last week.
Trademark attorney Josh Gerben tweeted explaining Wednesday that, in his opinion, Meta’s applications indicate the company is planning to....
The Australian Competition and Consumer Commission has filed a lawsuit against Meta, formerly Facebook, for “publishing scam advertisements featuring prominent Australian public figures.” The regulator said, “The essence of our case is that Meta is responsible for these ads that it publishes on its platform.”
Meta Sued for Publishing Cryptocurrency Scam Ads
The Australian Competition & Consumer Commission (ACCC) announced Friday that it has taken legal action against Meta Platforms Inc. (formerly Facebook) and Meta Platforms Ireland Ltd.
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Meta, the metaverse-focused social media company, is helping universities get their own virtual reality campuses online. The company will be opening 10 virtual campuses as part of its Immersive Learning project, which seeks to take education to virtual reality environments. In partnership with Victoryxr, an Iowa-based virtual reality education startup, Meta will invest $150 million in this initiative.
Meta Getting Universities Into the Metaverse
One of the biggest applications of virtual reality and metaverse technology has to do with education and the possibility of virtual....
A deep analysis of the actual final judgement in the U.S. Securities and Exchange Commission versus Kik Interactive case. Much has been written about the Sept. 30, 2020, decision by Judge Alvin Hellerstein of the Southern District of New York in the U.S. Securities and Exchange Commission vs. Kik Interactive. In that order, the judge ruled in favor of the SEC’s motion for summary judgement, applying the Howey Test in the course of determining that Kik Interactive had violated the federal securities laws by selling contractual rights to acquire Kin tokens and later by issuing and selling....