SEC news

The U.S. Securities and Exchange Commission (SEC) is an independent agency of the United States federal government. The SEC holds primary responsibility for enforcing the federal securities laws, proposing securities rules, and regulating the securities industry, the nation's stock and options exchanges, and other activities and organizations, including the electronic securities markets in the United States.

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Deutsche Bank reaches $16 million settlement over SEC lawsuit alleging it preferentially hired relatives of Russian and Chinese officials (DB)

Deutsche Bank settled a Securities and Exchange Commission lawsuit Thursday, paying more than $16 million over charges of nepotism and preferential hiring of foreign officials' relatives. The SEC found the unethical practices dating back to at least 2006. It also discovered that policies meant to eliminate corrupt hiring were only partially enforced and not globally adopted until 2015. The hires revealed in the filing are related to Chinese and Russian officials, many of which tied to state-owned enterprises. One hire was described as "the classic nepo situation that we have every year" by a Deutsche Bank HR employee in London. Watch Deutsche Bank trade live here. Deutsche Bank settled a lawsuit brought by the US Securities and Exchange Commission, paying more than $16 million over accusations of nepotism toward relatives of foreign officials. The bank allegedly violated corruption law by giving jobs to under-qualified relatives of Russian and Chinese government staff. The SEC also said Deutche "created false books and records that concealed corrupt hiring practices." The commission found the practices date back to at least 2006, when the bank hired relatives of officials at government-owned businesses in order to build connections and better their odds of making a deal. Deutsche had released policies meant to eliminate corrupt hiring practices, but the rules were only partially enforced and weren't used globally until 2015. "From the outset, the primary goal of Referral Hiring was to generate business for Deutsche Bank by extending personal favors to clients, including government officials, through hiring their relatives," the SEC filing said. Markets Insider is looking for a panel of millennial investors. If you're active in the markets, CLICK HERE to sign up. The document reveals several specific instances of unethical referral hiring. One candidate's resume "contained numerous grammatical errors and typos" that were fixed by a bank employee. Interviewers noted the candidate was "one of the worst" from the hiring pool, yet he was hired anyway. His mother worked as an executive at a state-owned company in China. One female candidate was described as "average-level" based on interviews and failed two tests, yet was still hired. Her father was the chairman of a Chinese state-owned corporation. Russian candidates were also featured in the filing. An applicant in Moscow — whose father was a senior executive at a Russian state-owned entity — was hired in Russia and transferred to London. A human resource employee in the London office deemed him "the classic nepo situation that we have every year." During the hire's time with the bank, Deutsche carried out a deal for the connected state-owned business. The SEC ordered the bank to pay a fee of about $10.8 million, prejudgement interest of roughly $2.4 million, and a civil penalty of $3 million.  Deutsche stock traded about 1% lower in early Friday trading, down about 12% year-to-date. Shares closed at $7.17 per share Thursday. The bank has two "buy" ratings, 15 "hold" ratings, and 14 "sell" ratings from analysts, with a consensus price target of $7.30, according to Bloomberg data. Now read more markets coverage from Markets Insider and Business Insider: Overstock CEO Patrick Byrne resigns after calling himself 'far too controversial to serve'  Fed officials are divided over whether the economy needs more rate cuts Trump's latest tariffs could drag China's growth to its lowest level in almost 30 years — but there's still 'no chance' it will cave to US demands Join the conversation about this story » NOW WATCH: Violent video games are played all over the world, but mass shootings are a uniquely American problem
Business Insider

Securitize gets approval from SEC to become first crypto securities record-keeper

San Fransico-based digital securities issuing platform Securitize became the first “blockchain-focused agent” to get SEC approval.  The company said this will enable the company to be an official keeper of records for all digital securities registered with the SEC, positioning it as a one-stop digital securities service provider, said the company to CryptoSlate. Securitize receives SEC approval to record stock transfers A Coinbase-backed tech startup has received the approval of the U.S. Securities and Exchange Commission (SEC) to act as an official record keeper for all registered digital securities. Securitize announced the news in a press release shared with CryptoSlate, saying it has become the first blockchain-focused agent to receive SEC approval. The company, which operates a platform for issuing and managing compliant digital securities on a blockchain, said the SEC certificate will enable it to trade these securities on SEC-registered alternative trading systems (ATS), including Open Finance Network, tZERO, and Sharespost. Being a registered transfer agent, Securitize will keep a real-time cap table of a firm’s investors. The company will also be able to offer corporate services to securities issuers, including the payment of dividends and interest, conducting shareholder votes, and facilitating share buybacks. Increased security and transparency Securitize becoming a registered transfer agent will help bring more transparency into the space. The SEC has been waging a war against crypto and blockchain companies who have failed to register their digital tokens as securities, filing several lawsuits and issuing an ever-growing number of fines in the past two years. Increased regulatory pressure created a perfect space for Securitize to position itself. Carlos Domingo, the co-founder and CEO of the company, said Securitize is dedicated to delivering compliant digital securities on the blockchain. “Becoming a registered transfer agent is the natural next step for Securitize as we continue to work toward making all securities digital,” he said in the company’s press release. The company’s transfer verification tool (TVT) will allow investors to conduct background checks on digital security token, powered by its “DS protocol,” bringing more transparency and legitimacy to the space, he claims. The post Securitize gets approval from SEC to become first crypto securities record-keeper appeared first on CryptoSlate.
Cryptoslate

U.S SEC approves blockchain startup to record digital securities

Securitize, a company that converts assets to tokens and manages digital securities on the blockchain, has been registered as a transfer agent with the United States Securities and Exchange Commission. While this will give them the freedom to maintain records for the transfer of securities, the company also claims that being SEC-compliant will help boost […] The post U.S SEC approves blockchain startup to record digital securities appeared first on AMBCrypto.
AMBCrypto

Securitize Becomes SEC-Approved Digital Security Record Keeper

Blockchain startup Securitize says it has been approved by the US Securities and Exchange Commission (SEC) to become a registered transfer agent, allowing the startup to act as an official record keeper for all digital securities registered with the SEC.
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HIGHLIGHT

The Market Responds Nonchalant to CBOE BTC ETF Pull Out

Yesterday, 23 January, the US Securities and Exchange Commission released a two-page document revealing the temporary withdrawal of the proposed rule change by the Chicago Board Options Exchange (CBOE) BZX Exchange Inc. This proposed rule change was said to lay the groundwork for the long-anticipated VanEck/SolidX BTC ETF

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DIGEST

Thailand plans to relax laws on ICOs, Bermuda issues a draft regulation, CONSOB halts Avacrypto, USA introduces the Token Taxonomy Act, CFTC questions about Ethereum, a report on Belgium, UAE, the EAEU, and Abkhazia, UAE plans to finalize regulations in 2019, Israel enlists the help of locals, South Korea regulators indict three Upbit employees, FCA is set to receive new duties

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DIGEST

CONSOB suspends two projects, Kakao invests in Orbs, TokenSoft invests in a SEC-compliant broker-dealer, Weiss Ratings recommends to buy BTC, France wants to invest $569M in blockchain, crypto-focused VCs invest $30M in Good Money, Tim Draper invests $1.25M in OpenNode, Waves partners with TSA, ICON partners with LayerX, BitDeer teams up with BTC.com and AntPool

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ESSENTIAL

A Security Token Offering (STO) is a form of raising capital for a startup by distributing tokens to investors. While ICOs mainly deal in utility tokens that grant their holders access to services and products associated with respective blockchains and dapps, security tokens can be thought of as digital documents representing the investor’s rights to equity, a revenue share, debt, etc. STOs provide a better investor protection as they need to be compliant with appropriate regulations

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DIGEST

HKEX plans to create a blockchain platform, Taiwan implements new amendments to AML and CFT laws, SEC ceased over dozen illegal ICOs, RFB demands monthly reports from crypto exchanges, Petro recognized as a legal tender, crypto industry to regulate itself in Japan, HSBC and RIL settle India’s first LoC transaction on blockchain, ASB settles New Zealand’s first export deal using blockchain

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DIGEST

Russia edits its draft law on cryptos, Japanese crypto exchanges gain power to self-regulate, Albania plans for regulatory framework, FATF to come up with its first set of crypto rules, CGL partners with National Bank of Canada and Skuchain, China plans implementation of new rules, SEC confirms the launch of FinHub, owner of Unocoin arrested for operating BTC ATM

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TriveAcademy Awarded the Bloconomic Excellence Award at the Bloconomic Expo 2019

TriveAcademy, a player in building the blockchain technology infrastructure which also conducts training classes and consultation processes was awarded for the “Bloconomic Excellence Award – Best Blockchain Technology Developer Award” at the  Bloconomic Expo 2019. The Bloconomic Expo 2019 is organized by the Malaysian Blockchain Association and Alphacap Sdn. Bhd. As a sponsor partner for Bloconomic event, TriveAcademy has presented their latest technology and applications of Trivechain 2.0 to the public at the expo. Trivechain just launched TRVC App which all the speakers’ and volunteers’ certificates is been blockchain in their TRVC app. After a successful fork on April 22, 2019, the new version of Trivechain 2.0 has been successfully forked, deployed and is running steadily. Trivechain 2.0 has include major changes such as adjustments to their Proof-of-Work algorithm from X11 to X16R and Proof-of-Stake collateral from 1,000 TRVC to 10,000 TRVC. The mining hash rate and the number of masternode needs to catch up slowly and be supported by a new community. The hash power and number of masternodes is increasing gradually every day indicating a significant increase from the date it was forked. In an interview with Tan, he said that “Trivechain 2.0, as a blockchain platform, will create a highly compatible community to attract developers and entrepreneurs around the world to become part of the Trivechain community. This community along with a number of open source products will offer and create a more conducive ecosystem for developers. This allows the chain to provide the most favorable conditions for its users to develop its application.” Trivechain 2.0 is offering another alternative open source platform for developers to develop their new blockchain base business ventures. The platform is ready for deployment and for those who are interested to catch new mining trend. Come and join the Trivechain community! You are invited to apply for the development fund through the DAO governance system to build a friendly and efficient development ecosystem in the blockchain environment. Visit the official website at www.trivechain.com for more details. About Trivechain (TRVC): Trivechain (TRVC) is a games and entertainment public blockchain protocol managed by Decentralized autonomous organization (DAO) which focuses on games and entertainment to enter the new era digital age with implementation of blockchain-based technology and DApps (decentralized applications). Facebook: https://www.facebook.com/trivechainMedium: https://medium.com/trivechainTwitter: https://twitter.com/trivechain_trvcReddit: https://www.reddit.com/user/TRVC-2Telegram: t.me/trivechain The post TriveAcademy Awarded the Bloconomic Excellence Award at the Bloconomic Expo 2019 appeared first on Bitcoin Garden.
Bitcoin Garden

Wanchain, Civic, Aion and Tael Top All Cryptos; Coins in Aggregate Up 3.13% Overall, 34 Coins Cross Key Moving Average

The Big Winners From Yesterday Over the past day, the top performing coin out of the 133 coins we are tracking was Wanchain, which offered a day-over-day return 90.53%. Rounding out the top four currencies for the day were Civic, Aion, and Tael, which provided holders with returns of 27.02%, 26.53%, and 22.7% for the day. These moves were quite significant, in the sense that they were well outside of the volatility each of the respective coins had seen for the past two weeks. Crypto brokers to trade the currencies mentioned here: Gate, Yobit, Stex, Binance, DDEX, ETHfinex The Crypto Big Picture Overall, the average change in coin price for the coins we’re tracking was up 3.1253%. On a more granular level, 65% of the coins we’re tracking were up while 35% of the coins were down. Below we can see the average daily change for the coins we are tracking our index over time. 34 coins are especially close to their 20 day moving average, and thus may be worth watching for technical traders who view the 20 day moving average as a key support/resistance level. Crypto brokers to trade the currencies mentioned here: Gate, Yobit, Stex, Binance, DDEX, ETHfinex Currencies With Significant Price Moves Here’s a list of the specific coins that crossed their key moving average level: Status, district0x, Loopring, 0x, SingularDTV, SONM, IOTA, Verge, AirSwap, Request, Viberate, Power Ledger, Ripio Credit Network, Agrello, BlockMason Credit Protocol, Aeron, Genesis Vision, Po.et, Tierion, Tael, Time New Bank, Waves, OST, NavCoin, Lunyr, AppCoins, VIBE, Nucleus Vision, POA Network, Groestlcoin, Skycoin, Civic, Streamr DATAcoin, Dock. Also of note is that 66 of the 133 we track have contracting volatility. Volatility contraction often precedes a breakout, so this may be something to watch. Below is a chart that zooms in a bit more, showing 4 coins trading below their 20 day moving average and exhibiting contracting volatility. Are these coins ready for a rally? Crypto brokers to trade the currencies mentioned here: Gate, Yobit, Stex, Binance, DDEX, ETHfinex Article by SixJupiter The post Wanchain, Civic, Aion and Tael Top All Cryptos; Coins in Aggregate Up 3.13% Overall, 34 Coins Cross Key Moving Average appeared first on DecentralPost.
DecentralPost

Futures trading platform Digitex prepares for public testnet, announces release date

Digitex, a trading platform for crypto futures contracts, announced today that it will be launching its public testnet on Nov. 30, 2019. The exchange plans to open their market starting with BTC/USD perpetual swap contracts. According to the exchange website, contracts for additional coins will be added based on user demand. For market makers and takers, Digitex won’t charge for any transactions. The project plans to cover all operational costs by creating value/demand around the Digitex Futures (DGTX) token. It will do this by minting a small number of tokens each year. The exchange will launch as a centralized exchange first but will continue to work on providing users with non-custodial (decentralized) accounts. This will allow users to have 100% ownership of their funds at all times while still able to make real-time trades and lightning speed. You know that Adam has been busy behind the scenes preparing to launch the game-changing, robust & rapid-fire #DigitexFutures #Exchange. But, our marketing efforts have been ramping up too & we’re pleased to announce that our community is growing globally! https://t.co/O8Ll6n9ot4 — Digitex (@DigitexFutures) August 21, 2019 Trading On The Testnet SmartDec, the development firm working with Digitex, is developing and vigorously testing the platform, preparing it for production. On the testnet, the firm says the exchange will be able to handle over 10,000 users trading concurrently and up to 50,000 transactions per second. A date has not been set for the Digitex platform’s mainnet launch yet, but the project team has said that testnet trading is anticipated to last for two months. After the testnet stage wraps up, Digitex plans to launch on the Ethereum mainnet. At that time, users can trade futures contracts in real-time using DGTX tokens. 2019: The Year of Crypto Futures Trading As it stands, 2019 is shaping up to be an important year for emerging futures trading platforms in crypto. The launch of Bakkt, another highly-anticipated trading platform, is scheduled for Sept. 23, 2019. Bakkt has garnered a lot of media attention thanks to the establishment of major partnerships and its focus on support for institutional investors. Digitex is aiming to appeal to a broader range of users and traders. According to the Digitex homepage, the platform has over 1.54 million signups on its waitlist. The post Futures trading platform Digitex prepares for public testnet, announces release date appeared first on CryptoSlate.
Cryptoslate

Blockchain.com integrates BitPay into its wallet

Blockchain, a cryptocurrency wallet and trading platform, has partnered with cryptocurrency payments processor, BitPay. According to a blog post by Blockchain, the firm has integrated BitPay into the Blockchain Wallet so users "can pay for products and services from an extensive network of merchants without ever giving up control of your private keys."  Blockchain is one of the largest cryptocurrency wallet providers in the world with approximately 41 million users to date. The firm recently announced the launch of a cryptocurrency exchange focused with a focus on fast trade execution.
The Block Crypto
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