Tag: SEC

Kast Appoints Former Senior SEC Advisor as US Policy Lead

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Stablecoin payments company Kast Kast has hired former US Securities and Exchange Commission (SEC) communications official Stephanie Allen as head of corporate and policy communications, as the company builds out its licensing and policy operation following an $80 million funding round last month. Kast said Thursday that Allen will work with senior leadership on policy and communications as the company prepares to launch Kast Business and expand further across North America, Latin America and the Middle East. The company said the hire is tied to its next phase of growth…

Philippine SEC Warns Against dYdX, Crypto Platforms

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The Philippine Securities and Exchange Commission (SEC) has issued a public investor alert warning Filipinos not to invest in dYdX and six other crypto trading platforms, saying they are not registered or authorized to solicit investments in the country. In a Facebook post on Tuesday, the SEC named dYdX, Aevo, gTrade, Pacifica, Orderly, Deriv and Ostium, stating that based on its findings, the platforms appear to be offering investments to the public in exchange for promised returns, profits or interest.  The regulator said none of the listed entities are registered…

SEC Charges Donald Basile in $16M Crypto Fraud Over “Insured” Token

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The US Securities and Exchange Commission has filed a lawsuit against crypto executive Donald Basile, accusing him and two companies he controlled of raising about $16 million from investors through false claims tied to a so-called “insured” crypto token known as Bitcoin Latinum. In a complaint filed Friday in the US District Court for the Eastern District of New York, the SEC alleged that Basile ran the scheme between March and December 2021 through Monsoon Blockchain Corp. and GIBF GP Inc., offering investors Simple Agreements for Future Tokens (SAFTs) that…

SEC sets conditions for crypto trading apps to stay outside broker rules

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The US SEC’s Division of Trading and Markets has outlined conditions under which crypto asset trading interfaces such as DeFi front-ends, wallet apps, or crypto aggregators can operate without registering as brokers. Under US securities law, entities that facilitate or arrange securities transactions may be required to register as broker-dealers with the SEC. However, in a statement issued on April 13, SEC staff indicated that, subject to specified conditions, they would not recommend enforcement action against certain providers operating without registration. That effectively offers a time-limited, conditional staff no-objection framework…

Thailand SEC Seeks to Expand Crypto Shareholder Approval Rules

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Thailand’s securities regulator is seeking to curb money laundering and technology-related crimes by tightening funding rules for cryptocurrency companies. The Securities and Exchange Commission of Thailand (Thai SEC) on Monday proposed expanding approval requirements for crypto businesses to include financiers behind major shareholders. Under the proposal, any person providing backing or financial support to major shareholders would itself be treated as a shareholder requiring regulatory approval from the regulator. The move aims to tighten oversight of hidden capital flows and ensure that business operators are funded from legitimate sources, rather…

SEC Says Some Crypto Enforcement Cases Lacked Investor Benefit

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Some past enforcement actions against cryptocurrency companies lacked clear investor benefit and misinterpreted federal securities laws, the US Securities and Exchange Commission (SEC) said on Tuesday.  Since the 2022 fiscal year, the SEC brought 95 actions and $2.3 billion in penalties for “book-and-record violations,” it said in a statement about its enforcement results for 2025.  “Together with seven crypto firm registration-related and six ‘definition of a dealer’ cases, these cases identified no direct investor harm from those violations, produced no investor benefit or protection.”  It also reflected a “bias for…

SEC Chair Says Regulation Crypto Assets Proposal is at OIRA for Review

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The proposal includes a startup exemption, a fundraising exemption and an investment contract safe harbor for issuers.  US Securities and Exchange Commission Chair Paul Atkins has revealed that a key crypto market safe harbor proposal has landed at the White House for review. Speaking at the Digital Assets and Emerging Technology Policy Summit on Monday, Atkins said the Regulation Crypto Assets proposal — outlined by the SEC in mid-March — has now been submitted to the Office of Information and Regulatory Affairs. “We will have reg crypto that we will…

SEC clears NYSE Arca to list multi-crypto trust options

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The US Securities and Exchange Commission (SEC) has approved a rule change allowing NYSE Arca to list options on commodity-based trusts that hold multiple crypto assets. Under the new rules, each crypto in the trust must meet a minimum average daily market value of $700 million over the past 12 months and be linked to derivatives trading on a market with which NYSE Arca has a surveillance-sharing agreement. Options on these multi-crypto trusts will follow the same listing and trading requirements as traditional ETF options, including rules on trading volume,…

US Senators Seek Answers from SEC Over Enforcement Chief’s Exit

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Two Democratic senators are requesting answers from the US Securities and Exchange Commission over the resignation of its enforcement director, Margaret Ryan, in March, after a Reuters report claimed she clashed with the agency’s leaders over certain cases involving people with ties to US President Donald Trump. In a letter to SEC Chair Paul Atkins on Monday, Senator Richard Blumenthal questioned the agency over the decision to drop the fraud case against Tron founder Justin Sun, a partner of the Trump-backed World Liberty Financial (WLFI) crypto platform, 11 days before…