SEC Financial News

Republican presidential candidate and Florida Governor Ron DeSantis has once again proved his support for Bitcoin, taking an oath that he would end the Biden-led administration’s “war on Bitcoin and cryptocurrency” when elected President.

A man has been charged by the SEC for misappropriating millions of dollars invested by people who believed they would become ‘rich’ from cryptocurrencies.

On Tuesday, the trading value of Bitcoin dropped by nearly 2% to $28,912 amidst significant developments in the cryptocurrency landscape. 

Terraform Labs and its founder, Do Kwon, must face fraud allegations brought by the U.S. Securities and Exchange Commission, a federal judge ruled on Monday. Kwon and Terraform Labs were behind two cryptocurrencies whose implosion roiled crypto markets around the world last year.

A United States Securities and Exchange Commission (SEC) lawsuit against Terraform Labs is set to go ahead after a U.S. judge overseeing the case denied the firm's motion to dismiss on July 31. 

In a complaint filed in Brooklyn federal court, the watchdog charged Hart (aka Richard Schueler) and three unincorporated entities that he controls - Hex, PulseChain, and PulseX - with conducting the unregistered offerings. According to the complaint, Heart began marketing Hex in 2018, claiming it was the first high-yield “blockchain certificate of deposit,” and began promoting tokens as an investment designed to make people “rich.” Heart and Hex allegedly offered and sold Hex tokens in an unregistered offering, collecting more than 2.3 million Ethereum, including through so-called “recycling” transactions that enabled Heart to surreptitiously gain control of more Hex tokens.

Last week, the United States took a step closer to regulatory clarity for its crypto industry. In a 35–15 vote, the House Financial Services Committee (FSC) approved the Financial Innovation and Technology for the 21st Century Act. The bill is intended to establish rules for crypto firms on when to register with either the Commodity Futures Trading Commission (CFTC) or the Securities and Exchange Commission (SEC).

The SEC has filed charges against a registered representative for allegedly stealing more than $2 million from a client and using the proceeds to finance the financial advisor’s personal spending.

Bitcoin (BTC), the world’s first and largest cryptocurrency by market capitalization, is on course to close out an uncharacteristically weak July lower by about 4% and stuck within familiar ranges in the low $29,000s.

The US Securities and Exchange Commission (SEC) has taken legal action against prominent internet marketer and crypto advocate Richard Heart.

Richard Heart with raising more than $1 billion in three unregistered crypto asset offerings and defrauding investors out of $12.1 million to buy luxuries including a 555-carat black diamond. In a complaint filed in Brooklyn federal court, the SEC said Heart, also known as Richard Schueler, touted his Hex token, PulseX asset trading platform and PulseChain asset network on YouTube and other websites as pathways to «grandiose wealth.» The SEC said Heart often made superficial «tongue-in-cheek» disclaimers that his offerings were not securities but knew otherwise, as he touted that Hex was capable of 38% returns and «built to be the highest appreciating asset that has ever existed in the history of man.» The SEC accused Heart of spending investor funds on McLaren and Ferrari sports cars, four Rolex watches and «The Enigma,» which cost 3.16 million British pounds (then $4.28 million) at auction and was purportedly the world's largest black diamond.

The Securities and Exchange Commission on Monday filed charges against a U.S. citizen who it alleged raised more than $1 billion through the unregistered offer and sale of crypto securities before pilfering millions to fuel a high-status lifestyle and the acquisition of luxury goods, including the largest black diamond in the world.

(Reuters) — The U.S. Securities and Exchange Commission on Monday said it has charged Youtuber Richard Heart and three of his entities with conducting unregistered offerings of crypto asset securities that raised more than $1 billion and misappropriating millions of dollars of investor funds.

The United States Securities and Exchange (SEC) has filed a lawsuit against Richard Schueler, better known in the crypto space as Richard Heart, for alleged unregistered offerings of three tokens. 

Investing.com — U.S. stocks point higher ahead of a week of major corporate results and key economic data. Amazon and Apple are set to round out a multi-week crush of earnings from Big Tech, while nonfarm payroll figures for July could provide clues into the impact of over a year of Federal Reserve policy tightening.

Investing.com -- The U.S. Securities and Exchange Commission requested that Coinbase (NASDAQ:COIN) cease trading in all digital tokens except for Bitcoin prior to filing a lawsuit against the cryptocurrency exchange, according to the Financial Times.

Coinbase CEO Brian Armstrong has revealed that the US Securities and Exchange Commission (SEC) requested the company to suspend trading in all cryptocurrencies except for Bitcoin (BTC) before initiating legal action against the exchange. 

On Monday, Bitcoin price is on the rise, up by nearly 0.50% to reach $29,447.

Crypto exchange Coinbase was once told by the United State securities regulator to delist all cryptocurrencies on its platform except for Bitcoin (BTC), according to CEO Brian Armstrong.

(Reuters) — The U.S. Securities and Exchange Commission (SEC) had asked Coinbase (NASDAQ:COIN) to stop trading in all cryptocurrencies other than bitcoin prior to suing cryptocurrency platform in June, the Financial Times reported on Monday, citing Chief Executive Brian Armstrong.

As Bitcoin's price hovers at $29,366, reflecting a slight 0.22 percent decrease on Sunday, concerns arise about the declining daily trading volume, potentially signaling a departure of whales from the market.