The U.S. Securities and Exchange Commission (SEC) has imposed a $ 38 million fine on Digital Currency Group (DCG), accusing the company of negligence in misleading investors about the financial stability of its subsidiary, Genesis Global Capital (GGC). SEC Alleges Misleading Practices by Digital Currency Group and Genesis Global Capital This case raises pressing …
A crypto firm has been fined $ 1.1 million for deceiving customers and misusing funds, as the CFTC highlights growing concerns about unregistered investment schemes. CFTC Strikes: Fraudulent Crypto Firm Banned, $ 1.1 Million Fine Issued The Commodity Futures Trading Commission (CFTC) announced on Monday that Mosaic Exchange Ltd. and its CEO, Sean …
The U.S. District Court for the Northern District of Illinois has ordered an Oregon resident and his entities to pay over $ 209 million in penalties for running Ponzi schemes disguised as crypto and carbon investment programs. This includes restitution, disgorgement of illegal profits, and a civil penalty. The Commodity Futures Trading Commission (CFTC) …
District Judge Analisa Torres has cut the penalty requested by the U.S. Securities and Exchange Commission (SEC) in the case against Ripple Labs over XRP by 94%. The court partially granted the SEC’s motion for remedies against Ripple, imposing a $ 125 million civil penalty. “This is a victory for Ripple, the industry, and …
The Supreme Court ruled on Thursday that the U.S. Securities and Exchange Commission (SEC)’s use of in-house proceedings to impose civil penalties for securities fraud violates the Seventh Amendment’s right to a jury trial. The case arose from the SEC’s action against George Jarkesy Jr. and his firm, Patriot28 LLC, for alleged securities fraud. The […]