Granite Shares Bitcoin ETF Disallowed by the SEC

Compliance, Cryptocurrency

Cboe BZX Exchange, Inc., Proposal to the SEC for Granite Shares Bitcoin ETFs SEC File No. SR-CboeBZX-2018-001 October 4, 2018 ORDER > Division of Trading and Markets Disapproval Order of August 22, 2018, to Remain in Effect and Schedule for Filing Statements on Review - See SEC Release No. 34-84367 (1) The Commissioner set the time limit for comments to November 5, 2018, and (2) ORDERED that the order August 22, 2018, ORDER disapproving proposed rule change SR-CboeBZX-2018-001 would remain in... Read More

5 Direxion Bitcoin Funds Disapproved … for Now

Compliance, Cryptocurrency

NYSE Arca Inc Request to the SEC for trading of Direxion Bitcoin Shares SEC File No. SR-NYSEArca-2018-02 Next: Further SEC Review October 4, 2018 ORDER > Division of Trading and Markets Disapproval Order of August 22, 2018, to Remain in Effect and Schedule for Filing Statements on Review - See SEC Release No. 34-84370 for File No. SR-NYSEArca-2018-02. [83 FR 51531] (1) The Commissioner set the time limit for comments to November 5, 2018, and (2) ORDERED that the order August 22, 2018,... Read More

Crypto Criminal Indictment – USA v Maksim Zaslavskiy, USDC EDNY, 17 CR 647

Compliance, Cryptocurrency, Cybersecurity, ICO Initial Coin Offering

Dept of Justice, US Attorney’s Office for the Eastern District of New York, Brooklyn, NY United States District Court for the Eastern District of New York (Brooklyn) USA v Zaslavskiy, 1:17-cr-00647-RJD-RER   Synopsis of Crypto Criminal Action by the DOJ: Note: As a precedent to this action, on September 29, 2017, the SEC filed an emergency injunction civil action in the United States District Court for the Eastern District of New York against defendants, REcoin Group Foundation LLC (“REcoin”), DRC World Inc., a/k/a Diamond... Read More

Crypto Criminal Indictment – USA v Maksim Zaslavskiy, USDC EDNY, 17 CR 647 – Order by Judge Dearie

Compliance, Cryptocurrency, Cybersecurity, US Code

Dept of Justice, US Attorney’s Office for the Eastern District of New York, Brooklyn, NY United States District Court for the Eastern District of New York (Brooklyn) USA v Zaslavskiy, 1:17-cr-00647-RJD-RER Order of the Court to Proceed to Trial: Please see the previous blog post reviewing the initiation of the Civil Action and the filing of this Criminal Indictment by the SEC. On September 11, 2018, Judge Dearie denied the Motion to Dismiss in that the Indictment as plead met the legal requirements, and... Read More

NYSE Arca EtherIndex Trust Proposal Withdrawn

Blockchain DLT, Compliance, Cryptocurrency

SEC File No. SR-NYSEARCA-2016-176 September 1, 2017 - Notice of Withdrawal of Proposal - See SEC Release No. 34-81538 [82 FR 42865 Sept. 12, 2017] On September 1, 2017, the Exchange withdrew the proposed rule change (SR-NYSEArca-2017-176). July 7, 2017 - Time Extended - [SEC Release No. 34-81155][82 FR 33938, July 21, 2017] - Section 19(b)(2) the Commission shall issue an order approving or disapproving the proposed rule change not later than 180 days after the date of publication of notice of filing... Read More

NIST SBCA – NIST Small Business Cybersecurity Act of 2018, Pub. L. No. 115-236

Compliance, Cybersecurity, US Code

The NIST Small Business Cybersecurity Act of 2018, Pub. L. No. 115-236, was signed into law on August 14, 2018, by President Trump. The NIST SBCA Section 2 amends Section 2(e)(1)(A) of the National Institute of Standards and Technology Act (15 U.S.C. 272(e)(1)(A)) to require the National Institute of Standards and Technology (NIST) to incorporate the needs of small businesses when it provides support for promulgation of voluntary industry guidelines to reduce cyber risks to infrastructure.   NIST, in consultation with other... Read More

Bankruptcy May Not be an Option to Discharge ICO or Token Damages – 11 U.S.C. § 523(a)(19)

Compliance, Cryptocurrency, ICO Initial Coin Offering

11 USC §523 - Bankruptcy No Escape If the perpetrators of the tsunami of ICO shenanigans think they can hide their ill gotten gains, and then discharge all related debts and fines in personal bankruptcy, they had better think again. The Congress, and their advance guard, the SEC, long ago cut off their escape. SEC v Tomahawk Exploration LLC et al. In the case of the SEC v. Tomahawk Exploration LLC and David Thomson Laurance, File No. 3-18641, ("Tomahawk") the Respondent Laurance... Read More

Winklevoss Bitcoin Trust ETF … The Long and Winding SEC Road

Blockchain DLT, Compliance, Cryptocurrency

Bats BZX Exchange Request to the SEC for ETF Bitcoin Trading  SEC File No. SR-BatsBZX-2016-30 Timeline: No follow-up SEC filings for this case have been located for these principals. The recent lateral move of the Winklevoss twins to a New York state regulated exchange was wise, and will be covered in a subsequent blog post. However, we believe that this 2016 or a similar proposal will re-emerge from the Winklevoss after the New York test, and subsequent pro-digital currency federal regulation by... Read More

SEC v Tomahawk Exploration LLC, 2018-152

Compliance, Cryptocurrency, ICO Initial Coin Offering

Bankruptcy discharge of civil penalty - It is further Ordered that, solely for purposes of exceptions to discharge set forth in Section 523 of the Bankruptcy Code, 11 U.S.C. § 523(a)(19), the findings in this Order are a debt for the violation by Laurance of the federal securities laws. [Author’s note – the debt may not be discharged].   [/vc_column_text][/vc_column][/vc_row] Commentary by Attorney Timothy F. Mills, Editor / Action Cyber Times™ © 2018 All Rights Reserved. Action Cyber Times™ provides resources for cybersecurity,... Read More

First Trust Bitcoin ETF Proposal Withdrawn

Compliance, Cryptocurrency

Cboe BZX Exchange Inc Request to the SEC for trading of First Trust Bitcoin ETF File No. SR-CboeBZX-2017-021; Release No. 34-82429; First Trust Bitcoin ETF Withdrawn January 19, 2018 - On January 19, 2018, the Exchange withdrew the proposed rule change (SEC Release No. 34-82561; SR-CboeBZX-2017-021). [83 FR 3789 Jan. 22, 2018] January 8, 2018 - The proposed rule change was published for comment in the Federal Register. [83 FR 929]. January 2, 2018 - On The Cboe BZX Exchange, Inc., filed a proposed rule change... Read More

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