The claim brought by token purchaser Alec Otto and the class action around it was filed too late, and was made of allegations unsubstantiated by the evidence, according to Nano developers.
Co-founder and CEO Zac Prince confirmed that the NJ watchdog has given the firm one more month before it has to shut down its interest-bearing accounts.
Digital currency platform BlockFi’s dismissal of the brushback pitch thrown by New Jersey regulators could have major ramifications for company execs and those who helped promote unregistered securities.
Based on the legal test for determining whether something is a security or not (Howey), the SEC has a case. However, in filing its defense, Ripple Labs made an excellent point worthy of discussion.
The settlement found the firm’s U.K.-based owners Blotics Ltd. flouted anti-touting provisions under federal securities laws and failing to disclose the money it received from digital token issuers it was promoting.
The two raised $1.9 million by selling over 600 million native tokens, all while issuing false statements, presenting fake profitability statements and making unattainable promises to the investors, authorities said.
Jayceon Taylor, popularly known as The Game, promoted ParagonCoin, a blockchain project that claimed to be out to change the world of cannabis but collapsed under the weight of legal battles.
The trial involved using the CBDC to simulate the settlement of listed securities in a test environment. Banque de France partnered with Swiss bank SEBA as well as two Luxembourg institutions.
The Ontario Securities Commission has issued a statement of allegations against Bybit, accusing the company of operating in its jurisdiction without obtaining the required licenses.
The U.S. Securities and Exchange Commission has settled charges brought against Loci Inc. and its CEO John Wise in connection with an unregistered securities offering.
The Ontario Securities Commission has initiated enforcement proceedings against the companies behind the KuCoin exchange.
The payments company is seeking to prove that the XRP sales its executives made were beyond the jurisdiction of the U.S. watchdog.
