• Jay Clayton’s Legacy SEC
    Bitcoin,  Cryptocurrencies,  Ethereum,  Regulation,  Ripple,  United States

    Jay Clayton’s Legacy at the SEC

    Will the Chairman be Remembered for Surrendering Crypto to China?

    So how will Jay Clayton be remembered? As the Chairman of the Securities and Exchange Commission during all of President’s Trump’s term, Clayton has notched major successes. But his record of supporting innovation is less impressive. And right now he stands at a crossroads. Jay Clayton has a chance to be remembered as the SEC Chairman who launched the next great wave of American financial technology. Or he can forever be recalled as the man who handed America’s crypto industry over to China.

  • Kik and SEC joint settlement
    Regulation

    Kik to pay $5M fine, ending two-year legal fight with SEC

    Although the multimillion-dollar fine might seem like a slap on the wrist given that Kik held a $100 million ICO, legal expenses have had a toll on the company

    The proposal comes three weeks after Hellerstein handed down a summary judgment finding that Kik’s $100 million ICO was an unregistered and illegal securities offering. He decided that the offering for Kin tokens had met the three-part Howey test, which assesses whether there is an investment of money in a common enterprise with profits to be derived solely from the efforts of others.

  • SEC kills Unikrn
    Regulation

    Online gaming platform with A-list investors killed by SEC

    Ashton Kutcher and Mark Cuban were among the investors in Unikrn, which is paying a $6.1 million penalty that is ‘substantially all of the company’s assets’ and disabling its tokens

    The U.S. Securities and Exchange Commission’s unrelenting crackdown on unregistered initial coin offerings has claimed another victim—this time, an online gaming and gambling platform that attracted a star-studded list of investors.

  • Hester Peirce SEC nomination
    Cryptocurrencies,  Regulation

    “Crypto Mom” tells Senate crypto is here to stay

    At a hearing for a second term on the Securities and Exchange Commission, Hester Peirce called for clearer regulations on selling cryptocurrencies, and took issue with the project-killing lawsuit against Telegram

    Speaking at a hearing on her nomination for a second term on the Commission, the Republican appointee promised to “redouble” her effort to create such an environment in order to spur innovation and attract new entrants to the industry.