Tag: SEC

Apple to fix gaming? SEC hates Metaverse, Logan Paul trolled on Steam – Cointelegraph Magazine

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Gaming on Macs to suck less Is Apple’s reign as the worst platform for gaming coming to an end? Amid all the hype about their long-rumored VR/AR headset, which is slated for release in early 2024 (queueing outside the Apple Store starts in October), there are other signals that Apple might finally be sorting out its subpar gaming offering. It’s also releasing software that will make it easier to play Windows games on Mac. Gaming on a Mac really sucks. Lots of games – particularly indie and early release ones…

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SEC concerned over ‘Ether is not a security’ statement

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Newly released documents showing edits that were made to a 2018 speech given by former director of the Security and Exchange Commission’s corporate finance division Bill Hinman suggest the editors were concerned his statement might undermine the idea that Ether (ETH) is a security.  This could risk locking the agency into a position it would find hard to change at a later date, the SEC comments warn. “Even with the caveats in the sentence, it seems that it would be difficult for the agency to take a different position on…

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Bitcoin, Ethereum to shake off ‘toothless adversary’ SEC as FOMC looms

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Bitcoin (BTC) and Ether (ETH) are due volatility — but not thanks to “toothless” United States regulators, new analysis says. In its latest market update on June 9, trading firm QCP Capital told market participants to gear up for macro-fueled price action for BTC and ETH. Related: Why is Bitcoin price stuck? QCP Capital: U.S. crypto “mudslinging” to continue The dust is continuing to settle on this week’s main macro stories — lawsuits against exchanges Binance and Coinbase from the U.S. Securities and Exchange Commission. More upheaval will come in the future,…

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Binance, Coinbase head to court; the SEC labels 67 crypto-securities

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Top Stories This Week U.S. SEC sues Binance and Coinbase amidst crypto crackdown Binance and Coinbase have been targeted in a new round of lawsuits by the U.S. Securities and Exchange Commission (SEC) against crypto businesses. The regulator pressed 13 charges against Binance on June 5, including those involving unregistered offerings and sales of tokens, and failing to register as an exchange or broker-dealer. The commission also went after Coinbase on similar grounds, alleging that popular cryptocurrencies offered by the exchange are securities. Trading volume across the major decentralized exchanges…

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SEC can’t find Binance CEO Changpeng Zhao, asks court for ‘alternative service’

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The United States Securities and Exchange Commission (SEC) is seeking “alternative service” from the U.S. district court in Washington, D.C. to issue a legal summons to Changpeng Zhao, the CEO of cryptocurrency exchange Binance. Zhao and Binance were recently sued by the SEC over alleged unregistered securities operations. Related: SEC sues Coinbase for breaking US securities rules In a case document filed with the district court on June 7, the SEC requested alternative service. It explained its evident stance that typical service (which requires the presence and signature of the person…

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SEC lawsuit against Binance stalls Gopax acquisition deal in South Korea

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The United States Securities and Exchange Commission’s (SEC) lawsuit against Binance could damage the crypto exchange’s business opportunities in South Korea. A report published in a South Korean daily suggests that the Financial Service Committee (FSC) — the country’s financial watchdog — is reviewing Binance’s acquisition of local crypto trading platform Gopax. Binance acquired a majority stake in Gopax in February, intending to reenter the South Korean crypto market after a two-year hiatus. The FSC has reportedly suspended Gopax’s executive change report filed on March 7, citing the recent SEC lawsuit. The…

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SEC Slammed By U.S. Chamber Of Commerce For Regulatory Approach To Cryptocurrencies In Coinbase Filing

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The Securities and Exchange Commission (SEC) is facing criticism from the United States Chamber of Commerce over its lack of clarity regarding which digital assets are securities under federal law. This issue has “immense implications for every person involved in the $1 trillion digital-asset economy,” a court filing by the Chamber states. According to the filing, the SEC has refused to engage in any systematic process or rulemaking to explain what its claimed authority means, instead offering one-off enforcement actions and public speeches. This has created regulatory uncertainty and destabilized…

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SEC issues record whistleblower award of $279M

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The U.S. Securities and Exchange Commission (SEC) has issued its largest-ever whistleblower award totaling $279 million. The SEC generally issues awards ranging between 10% to 30% of collected monetary sanctions that are larger than $1 million. To receive such an award, the whistleblower needs to have provided information that directly assists the SEC in successfully imposing enforcement actions on a particular case. In a May 5 statement, the SEC noted that the $279 million awarded to the unnamed whistleblower was more than double the previous record of $114 million from…

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