26 Jul 2022

Coinbase under investigation after outburst against SEC

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

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22 Jul 2022

Cryptocurrency’s first insider trading scheme leads to 3 being charged

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

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20 Jul 2022

SEC should go after ‘big fish’ crypto exchanges, US lawmaker says

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

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16 Jun 2022

SEC’s Expansion of Crypto Assets and Cyber Unit Signals Increased Enforcement Ahead

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

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13 Jun 2022

Expanding SEC’s Crypto Assets and Cyber Unit Is Essential – But There Are Potential Risks

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

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03 May 2022

SEC doubles down on crypto regulation by expanding unit

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

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17 Feb 2022

The Future of DeFi and Crypto Lending: BlockFi’s $100M Settlement with the SEC

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.

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16 Feb 2022

SEC proposes cyber rules for investment funds and advisors.

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

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05 Oct 2021

The Information Threat Vector(s): Why Facebook Regulation and Accountability Matters

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?

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30 Sep 2020

Former Amazon Employee Charged with $1.4m Insider Trading Scheme

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

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