SEC Charges Group Behind Filing System Hack, $4.1 Million in Illegal Trades

New charges have emerged from a 2015 case of hacking and insider trading, the SEC announced today. In the previous case, Ivan Turchynov and Oleksandr Ieremenko hacked newswire services and provided information to traders before anyone else could get it. The scheme was very profitable. In one incident, a trader using the information made over

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Japan Not Considering Approval of Bitcoin ETF, FSA Denies Reports

According to a spokesperson from the Financial Services Agency (FSA), Japan is not considering the approval of a Bitcoin exchange-traded fund (ETF). Speaking to Bitcoin.com, an FSA representative said: There is no such fact that we are considering approving ETFs which track crypto-assets at present. We are not currently considering approving them. Japan Doesn’t See

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Elon Musk to Investors: Don’t Drag Ex-Girlfriend Grimes into Tesla Lawsuit

Billionaire Elon Musk is annoyed that Tesla shareholders want to subpoena his girlfriend, pop star Grimes (real name: Claire Elise Boucher), to question her about his infamous 2018 tweet about taking his electric-car company private. Musk’s lawyer said the move is nothing more than a cheap stunt by shareholders to pressure Musk amid their securities class-action lawsuit.

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Despite Taking Down 90 Crypto Scams, US Regulators Recovered Just $36 Million for Victims

Regulators in the United States have filed over 90 cryptocurrency fraud cases in the last two years, the Wall Street Journal reports. While it is difficult to determine the amount that investors have lost, regulators at both the federal and state level have only managed to get back US$36 million, a figure considered paltry. What

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More Than 15% of Crypto Projects Have Serious Red Flags: Wall Street Journal

According to new research from the Wall Street Journal, more than 15% of crypto projects raising funds through initial coin offerings (ICOs) have serious red flags that should give investors pause. The investigation, which analyzed the whitepapers of 3,300 cryptocurrency offerings and ICOs launched in 2017 and 2018, found that 513 of them likely committed plagiarism,

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US To Provide Regulatory Clarity On Crypto: Token Recovery In Sight?

According to a report released by Kate Rooney, a markets reporter at CNBC, two congressmen — Warren Davidson and Darren Soto — are preparing a bipartisan bill to exclude crypto from the country’s securities law. The bill, entitled “Token Taxonomy Act,” is set to be introduced to the House in the months to come in

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SEC Chair Jay Clayton’s Mass Crackdown On Crypto Industry Roil GOP Lawmakers

Jay Clayton, the chairman of the US Securities and Exchange Commission, is coming under fire from Republican lawmakers amid growing concerns over his harsh approach to regulatory enforcement — which critics claim strangles the free market and inhibits technological innovation. In 2018, the SEC launched a massive crackdown on the crypto industry, which has been

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New US Chief of Staff: Bitcoin is Good, ‘Not Manipulable by Any Government’

This week, following the scheduled leave of John F. Kelly, United States President Donald Trump has chosen the pro-Bitcoin Mick Mulvaney to serve as the acting White House Chief of Staff beginning 2019. According to the Washington Post columnist Matt O’Brien, Mulvaney has been vocal about his support of Bitcoin (BTC) and in a speech covered

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Billion-Dollar Crypto Fund Says 25% of ICOs in its Fund Could be Securities

In a newsletter to clients sent on Thursday, Pantera Capital CEO Dan Morehead revealed that one in four initial coin offering (ICO) projects the firm has invested in could be considered as securities under U.S. regulations. Morehead wrote: “While we believe the vast majority of the projects in our portfolio should not be affected, approximately

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ICO Death March? November Inflows Fall to $65M From Yearly High of $2.6 Billion

The latest statistics on initial coin offerings suggest that the best days of the fundraising mechanism may have long passed. According to digital assets newsletter Diar, the month of November recorded the lowest inflows into initial coin offerings (ICOs) in 2018. With US$65 million raised last month, this was in sharp contrast to this year’s

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