November 2018

U.S. SEC SETTLES WITH CRYPTO PROMOTORS FLOYD MAYWEATHER AND DJ KHALED

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The U.S. Securities and Exchange Commission (SEC) settled charges against professional boxer Floyd MAYWEATHER JR. and music producer Khaled KHALED, known as DJ Khaled, for failing to disclose payments they received for promoting investments in Initial Coin Offerings (ICOs). These are the SEC’s first cases to charge touting violations involving ICOs. The SEC’s orders found …

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SECURITY TOKENS: U.S. SEC SETTLES REGISTRATION CHARGES WITH TWO ICO ISSUERS

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The U.S. Securities and Exchange Commission (SEC) settled charges against two companies that sold digital tokens in initial coin offerings (ICOs). These are the Commission’s first cases imposing civil penalties solely for ICO securities offering registration violations. Both issuers have agreed to return funds to investors, register the tokens as securities, file periodic reports with …

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SEC SETTLES WITH UNREGISTERED CRYPTO-SECURITIES EXCHANGE ETHERDELTA

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The U.S. Securities and Exchange Commission (SEC) settled charges against Zachary COBURN, the founder of the decentralized Ethereum exchange (DEX) EtherDelta, a token trading platform. This is the SEC’s first enforcement action against such a platform operating as an unregistered national securities exchange. Specifically, the trading with DAO token was mentioned as a reason for the enforcement …

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