SEC

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Hiro Systems Applauds SEC Decision to Close Stacks Investigation

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The U.S. Securities and Exchange Commission (SEC) has concluded its investigation into Stacks, a Bitcoin scaling network, and its original developer, Hiro Systems, with no recommended enforcement actions. This investigation began in 2021 despite claims by network contributors that Stacks’ token sale was SEC-qualified. Hiro Systems praised the SEC’s decision, reaffirming its commitment to regulatory … Read more

SEC Secures Default Judgments in $45 Million Coindeal Fraud Case

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The U.S. Securities and Exchange Commission (SEC) announced this week that the U.S. District Court for the Eastern District of Michigan has issued default judgments against Garry Davidson and Linda Knott for their involvement in a fraudulent $45 million Coindeal scheme. Davidson and Knott were accused of deceiving investors with false promises of significant returns … Read more

CFTC Chair Pushes for Federal Legislation to Regulate Bitcoin and Ether as Commodities

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During his Senate testimony, the chairman of the Commodity Futures Trading Commission (CFTC) emphasized the necessity of federal legislation to regulate digital commodities such as bitcoin and ether. Citing market volatility and fraud, the chairman advocated for expanded regulatory powers to safeguard investors and maintain financial stability. He also referenced a recent court ruling that … Read more

SEC Withdraws Enforcement Action Against Paxos’ BUSD Stablecoin

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The Securities and Exchange Commission (SEC) has decided to end its investigation into Paxos, a New York-based issuer of stablecoins, suggesting that stablecoins may not be treated as securities in most cases. This decision comes more than a year after the SEC sent Paxos a Wells Notice concerning the BUSD stablecoin, which is backed by … Read more