U.S. Securities and Exchange Commissioner Hester Peirce has updated her proposal to let digital currency startups sell tokens as initial coin offerings (ICOs) without going against the rule of law.
Investors in ParagonCoin, one of the many scams that sprung up in the 2017 ICO mania, are set to recoup a small share of the money they lost when it went bust.
The U.S. regulator said the offering of LBRY, whose business focuses on distribution and monetization of digital content without an intermediary, constituted an offering of securities under Howey test.
The charges are the latest in an ongoing regulatory crackdown on token sales during the "ICO craze" of the past few years.
Jimmy Gale Watson Jr. faces a seven-count indictment including conspiracy to commit securities fraud and substantive wire fraud.
Sohrab Sharma, the co-founder of Centra Tech, reportedly relied on fake partnerships and endorsements from celebrities like boxing champion Floyd Mayweather to lure investors.
Gary Gensler, the Biden administration's nominee to head the U.S. Securities and Exchange Commission, has highlighted "investor protections" as priorities for the digital asset industry.
Krstijan Krstic founded Start Options and Bitcoiin2Gen, or B2G, in 2017 and reportedly induced U.S. investors into the scam, authorities said.
With its new decree, the government is further seeking to stamp out cryptocurrency token sales completely, according to local reports.
The U.S. Securities and Exchange Commission is beefing up the enforcement powers of its investigation teams, signaling a more robust approach to regulation during the Biden administration.
Kristijan Krstic and John DeMarr also allegedly operated and promoted Start Options as a digital asset mining and trading platform with “the largest Bitcoin exchange in euro volume and liquidity.”