The regulator sued the man over his alleged role in defrauding hundreds of crypto.
He misappropriated around $1 million for personal expenses.
Authorities said in court documents that Kwon failed to comply with the testimonial obligation.
The digital tokens dubbed 'Ducat' and 'Locke' were set to be registered as equity securities.
The authority also charged two cybercriminals for their role in ransomware attacks.
The forthcoming report mentioned by Bloomberg also reinforces the US CFTC as another watchdog of those tokens.
Terra founder Do Kwon has sued the Securities and Exchange Commission (SEC) for illegal outreach and going against its own procedures, a lawsuit filed on Oct 22 with the United States District Court of South New York shows. The founder of the Terra, Mirror and...
ProShares became the first company in the US to list a Bitcoin futures ETF on NYSE Arca.
There's good news on the Bitcoin ETF front. Reputed financial services and news company Bloomberg reported on Oct 15 that Securities and Exchange Commission (SEC) has...
Bitcoin price soared in the recent hours and is approaching $60,000.
The agency is still reluctant to approve a Bitcoin ETF.
The Securities and Exchange Commission’s Chairman, Gary Gensler, told Congress that the SEC will not ban cryptocurrencies. This is a huge relief, even though Gensler then said “that would be up to Congress.” The SEC Chairman is in the middle of quite the press tour, spreading his opinions on crypto around, clarifying his stance. Those opinions...
The SEC Chair added that the US won’t follow China’s lead in banning cryptocurrencies.
The review and approval is subject to the US SEC's timing.
“Defendants have not shown that such individual trading decisions bear on the issues in this case,” the court stated.
Questions arose in regulatory terms after the US SEC threatened the crypto exchange over its forthcoming Lend program.
The exchange announced the program but did not launch it yet.
The regulator is allegedly looking into Uniswap’s marketing and investor services.
Ripple earlier shared only a fraction of these messages.
The defendants consented to the judgments without admitting or denying the charges.
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