Just days after the leading U.S. crypto exchange admonished the SEC for inserting itself into an ongoing case of insider trading prosecuted under wire fraud, the company appears to find itself the subject of an investigation by Gary Gensler’s powerful agency. Citing three people familiar with the matter, Bloomberg reported
A former employee of the cryptocurrency exchange platform Coinbase and two others were charged by the U.S. Securities and Exchange Commission for alleged insider trading valued at more than $1.1 million, according to a lawsuit filed Thursday in U.S. District Court in Seattle. Prosecutors said this is the first insider-trading case
The Securities and Exchange Commission should be going after crypto exchanges that offered XRP, the chairman of the House investor protection subcommittee said Tuesday. In an oversight hearing closely watched by supporters of Ripple and the XRP cryptocurrency, California Rep. Brad Sherman questioned SEC Enforcement Director Gurbir Grewal on why the
In a move that further executes upon the SEC’s increasingly tough rhetoric on cryptocurrency and cybersecurity, SEC Enforcement recently announced that it will nearly double the size of its newly-renamed Crypto Assets and Cyber Unit, the specialized unit that focuses on enforcement in those areas. This development is remarkable for
The SEC recently announced that it was doubling the size of its unit which deals with cryptocurrency assets. It plans to increase the footprint of the unit to reach 50 agents. The unit was first launched in 2017 and since then, has brought forward over 80 enforcement actions, mostly related
The United States Securities and Exchange Commission (SEC) announced Tuesday that it would nearly double the number of personnel responsible for safeguarding investors in cryptocurrency markets. As per the announcement, the SEC’s Cyber Unit, which includes the Crypto Assets and Cyber team, will hire 20 new people for 50 dedicated positions. The
An equal and opposite reaction to the recent onslaught of cybersecurity incidents directed at the Crypto and DeFi marketplace (itemized in our recently released Web3 Cyber Incident Database) are regulatory or market mechanisms designed to enhance the trust relationship between end-users, federal regulators, and the crypto platforms during this evolutionary phase of the Web3 innovation ecosystem. The recent SEC action against Crypto lender BlockFi has been heralded by many in the DeFi innovation community as a seminal moment for the cryptocurrency marketplace.
A draft proposal at the SEC would required financial management firms to disclose cybersecurity breaches within 48 hours as the SEC looks to provide continuing guidance on how firms should ensure they are being cyber-diligent. In addition to the required breach disclosures, firms would be required to maintain incident response
Facebook has been headlining the news the last three days – and not in a good way.
Why are the scale, scope, and impact of Facebook and its family of social media platforms (Instagram, WhatsApp, etc.) so important?
On Monday, the Securities and Exchange Commission (SEC) charged a former Amazon finance manager and two family members with inside trading after an investigation concluded the former employee intentionally misused tax details she had access too as part of her role at Amazon. The SEC confirmed that the charges related