Earlier this week at a talk before the Council of Institutional Investors, U.S. Securities and Exchange (“SEC”) Commissioner, Caroline Crenshaw, argued that the enforcement must play a “central role” with regulators and...more
The New Year is still young, but major changes are already afoot in securities enforcement as Congress amended the Securities Exchange Act of 1934 (“Exchange Act”) on January 1, 2021. It was easy to miss these changes to the...more
2/4/2021
/ Amended Regulation ,
Disgorgement ,
Enforcement Actions ,
Government Investigations ,
Kokesh v SEC ,
Liu v Securities and Exchange Commission ,
NDAA ,
Penalties ,
Securities Exchange Act of 1934 ,
Securities Regulation ,
Securities Violations
Last year, we reviewed the Second Circuit decision in United States v. Blaszczak, which made it easier to prosecute trading on inside information. A divided panel of the Second Circuit Court of Appeals declined to extend the...more
Late last month, federal prosecutors in the Southern District of New York pushed for a heavy prison sentence against one of the founders of Centra Tech, Inc. (“Centra Tech”). As discussed earlier this year on the BitBlog,...more
12/2/2020
/ Celebrity Endorsements ,
Criminal Prosecution ,
Cryptocurrency ,
Debit and Credit Card Transactions ,
Digital Currency ,
Enforcement Actions ,
Influencers ,
Initial Coin Offering (ICOs) ,
Investment Opportunities ,
Securities Violations ,
Token Sales ,
Unregistered Securities
Late last month, SoluTech, Inc. and Nathan Pitruzello consented to a cease-and-desist order with the U.S. Securities and Exchange Commission (“SEC”). From April 2018 through March 2019, SoluTech, a technology start-up...more
10/9/2020
/ Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Enforcement Actions ,
Financial Transactions ,
Initial Coin Offering (ICOs) ,
Investment Opportunities ,
Securities and Exchange Commission (SEC) ,
Securities Violations ,
Token Sales ,
Unregistered Securities
Joseph Frank Abel recently pled guilty to conspiring to offer and sell unregistered securities and to filing a false tax return in connection with his role in the BitClub Network, a cryptocurrency mining scheme worth at least...more
9/15/2020
/ Bitcoin ,
Bitcoin Mining ,
Criminal Conspiracy ,
Criminal Prosecution ,
Cryptocurrency ,
Digital Assets ,
Digital Currency ,
Government Investigations ,
Guilty Pleas ,
Indictments ,
Investment Fraud ,
Securities Violations ,
Tax Fraud ,
Unregistered Securities