Blockchain 

Grayscale Files to Become First SEC Reporting Crypto Fund

Grayscale Bitcoin Trust is trading higher by 3% after it filed Form 10 with the United States Securities and Exchange Commission (SEC) to become the first-ever crypto fund to report to the regulator. Major Development The crypto ecosystem has grown at a breakneck pace over the past few years, and it can be said that a viable ecosystem has taken shape. Things like a Bitcoin fund could not have been envisaged half a decade ago, but they are now a reality. In a new development, one of those funds is…

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Blockchain 

Kik “Void for Vagueness” Plea Against SEC Dismissed by Judge

Kik, the former messaging app now shifting its focus to cryptocurrency, has been involved in a court case with the SEC, which alleges that a 2017 ICO breached the commission’s regulations due to the fact that its coin, Kin, is actually a security. Kik Legal Team Struggle for Plausible Explanation The legal team for Kik has argued in the court of the Southern District of New York that the case against it is null and void based on the premise that the legal definition of an “investment contract” is unclear. However, the…

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Blockchain 

Telegram Denies All SEC Allegations and Requests Dismissal of Trial

Telegram has refuted allegations by the US Securities and Exchanges Commission in court, which claim that the planned Gram token from the messaging app is a security and, therefore, subject to regulations from the commission and has requested that the trial be dismissed because of this. Last month, the SEC successfully sought an injunction preventing Telegram from launching TON due to the fact that the ICO used to raise funds to develop the network was illegal. As a result of the injunction, investors in two separate ICOs were offered the chance to…

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Blockchain 

Telegram Releases Test Gram Wallet Despite Pending SEC Suit

Telegram has released a test version of its desktop wallet for its own digital coin, known as Grams, despite an injunction from the SEC preventing the launch of its planned blockchain, Telegram Open Network (TON). Users can download the desktop app on Windows, macOS, and Linux 64 bit from Telegram’s official website. The app greets users with the message, “Now you have a wallet only you control – directly, without middlemen or bankers.” Users can also engage in test transactions with Grams distributed by a special Telegram bot; however, it warns that these…

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Cryptocurrency 

Telegram Investors Stick With TON Plans Despite SEC Injuction

Telegram investors have turned down the offer of a refund on their investment in the TON ICO despite an injunction by the SEC delaying the launch of the network. Telegram, which is an important part of the crypto ecosystem due to its encrypted communication abilities, has been embroiled in a dispute with the US Securities and Exchange Commission, which argues that its planned blockchain, Telegram Open Network (TON), is a security, meaning the ICO was actually illegal. The commission issued an injunction last week preventing the company from launching TON…

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Cryptocurrency 

Telegram to Delay the Launch of TON Due to SEC Meeting

Over the past few years, Telegram has become an important part of the crypto ecosystem due to its use as a communication platform for traders as well as market enthusiasts. Hence, it did not come as a complete surprise when the encrypted messaging service platform announced the launch of its own blockchain, the Telegram Open Network (TON). Major Details However, it seems to have run into issues with the all-powerful Securities and Exchange Commission. In a new development, the company told its investors that the date of the launch is…

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Blockchain 

Veritaseum CEO in Pretrial Settlement Talks with SEC

Veritaseum founder and CEO Reg Middleton is in talks with the US Securities and Exchange Commission to reach a settlement on claims that the VERI initial coin offering (ICO) misled investors with regard to the token’s potential value. Veritaseum “Knowingly Misled” Investors Back in August, the SEC filed an emergency lawsuit against Veritaseum and its founder in order to prevent him from spending $8 million USD raised by the company in an ICO. The SEC alleges that Middleton “knowingly misled” investors about prior business success in order to increase investor demand for VERI tokens and…

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Blockchain 

Veritaseum (VERI) Slumps 60% After Emergency Lawsuit by the SEC

Veritaseum (VERI) slumped 60% in the past 24-hour after The United States Securities and Exchange Commission (SEC) has filed an emergency lawsuit. Big Blow for VERI The explosion of the crypto space has led to a lot of tech innovation as companies have resorted to distributed tokens in the form of an Initial Coin Offering in order to raise capital. It has proven to be a highly effective method of raising capital, and many companies have managed to get off the ground using an ICO. However, it goes without saying…

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Blockchain 

SEC Files Lawsuit Against Veritaseum (VERI) Founder

The SEC has filed an emergency lawsuit against Veritaseum (VERI) and its founder Reginald Middleton with the New York Eastern District Court. The action aims to prevent Mr. Middleton from spending $8 million USD raised by the company in an ICO. “Knowingly Misled” VERI Investors The SEC alleges that Mr. Middleton “knowingly misled” investors about prior business success in order to increase investor demand for VERI tokens. The SEC also claims that Veritaseum made manipulative trades to increase the value of VERI tokens. The value of Veritaseum, the world’s 15th…

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Blockchain 

SEC to Decide Later on Three Bitcoin ETF Proposals

Ever since Bitcoin had that incredible rally back in 2017, there has been a lot of talk among big-ticket investors to find a way to bring the cryptocurrency into the world of mainstream investing. It was around that time that the idea of Bitcoin-based exchange-traded funds (ETFs) was first floated. Ultimately, the Securities and Exchange Commission is responsible for allowing Bitcoin ETFs in the markets and on Monday, the agency was supposed to deliver its decision on three Bitcoin ETFs. However, to the disappointment of most in the crypto sphere,…

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