Crypto News 

NY Court imposes penalties in excess of $83m on companies run by Bitcoin scammer Renwick Haddow

“The United States Securities and Exchange Commission (SEC) has secured an important victory against Bitcoin fraud” reports financefeeds.com. Haddow allegedly used sales representatives to cold call potential investors and sell securities in Bitcoin Store Inc. and Bar Works Inc.In addition to the monetary penalties, the defendants are also permanently restrained and enjoined from violating US securities laws. Source: financefeeds.com Share This:

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Crypto News 

U.S. Watchdog Outlines Issues With Bitcoin ETFs, Mutual Funds

“The agency has slammed the brakes on at least a dozen proposed bitcoin ETFs and two cryptocurrency mutual funds that had tried to use a fast-tracked process to list the products” writes unknown author for bloomberg.com. The U.S. securities regulator raised a series of investor protection concerns about cryptocurrency mutual and exchange-traded funds, the strongest sign yet that the world’s biggest market isn’t likely to see the products any time soon.In March, the SEC rejected a proposal to list an ETF backed by the Winklevoss twins, Tyler and Cameron, who…

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Crypto News Stocks 

Here’s more on KodakCoin, the planned ICO that sent Kodak’s stock surging

“A report by ArsTechnica said that KodakCoin seems to be a re-branding of an earlier initial coin offering called Ryde coin that is now defunct” writes Francine Mckenna for marketwatch.com. KODK, +7.41%   and Wenn Digital, parent company of a paparazzi photo agency Wenn Media. Source: marketwatch.com Share This:

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Crypto News 

Investors could lose everything on cryptocurrency fundraises, regulator warns

“Buying into initial coin offerings (ICOs) can lead to the total loss of an investment, said the head of a top European regulator” writes unknown author for cnbc.com. ICOs bear similarities to initial public offerings for a stock, but in an IPO, the investor usually has a stake in the company, whereas coin sales differ widely in terms of acquired rights.”You don’t have the regular protection that regulated investments offer, and can lose all of your investments,” Maijoor said Tuesday. “As a European securities market authority, we have warned, in…

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Markets News 

Which markets are closed on Martin Luther King Jr. Day?

“U.S. equities and bond markets will be closed for Martin Luther King Jr” reports foxbusiness.com. Overseas markets are open as usual, as will be foreign-exchange markets DXY, -0.13% The Securities Industry and Financial markets Association (SIFMA) recommends no trading in dollar-denominated securities, including bonds, money markets and certificates of deposit. Source: foxbusiness.com Share This:

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News 

Quebec Tribunal extends restraint order against virtual currency scheme PlexCorps

“The Financial Markets Administrative Tribunal (TMF) of Quebec has extended the restraint order against the defendants for further 120 days” reports financefeeds.com. Proceedings against PlexCorps, PlexCoin, DL Innov inc., Gestio inc., Dominic Lacroix, and Sabrina Paradis-Royer, accused of running a virtual currency scam, continue in Canada.The solicitation happens in violation of previous orders issued by the Financial Markets Administrative Tribunal (TMF) of Quebec.In June last year, the Tribunal found that Dominic Lacroix, DL Innov inc., Micro-Prêts inc. and Gap Transit inc were violating securities laws. Source: financefeeds.com Share This:

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Markets News Stocks 

GoPro shares slip again as analysts warn of market saturation

“I’m not sure investors will warm up to the story until they demonstrate some traction with sales growth,” Wedbush Securities analyst Michael Pachter said” writes Midwest Communications Inc for 95kqds.com. GoPro has a median price target of $8.50.”The increasing power and presence of smartphones have negatively impacted sales of GoPro’s products, with its pace of innovation unable to offset creeping market saturation,” Wedbush Securities analyst Alicia Reese wrote in a note.Wedbush cut the price target on the stock to $6 from $10.50 and Dougherty & Co’s Charles Anderson, who has…

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Crypto News 

Philippine SEC warns investors: Be cautious with initial coin offerings

“The SEC warning follows a similar move last month by the Philippine central bank, which has also flagged risks of investing in virtual currencies” writes Midwest Communications Inc for 95kqds.com. The Philippine central bank is seeking to regulate virtual currency exchanges amid the increasing usage of cryptocurrencies, particularly in money remittances and payments.”We do not endorse virtual currency as a currency because it is not a currency,” Melchor Plabasan, a central bank deputy director, said then.”However, unlike ordinary securities, these virtual currencies are neither guaranteed by any Central Bank nor…

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Crypto Markets News 

SEC Issues Warning to Crypto Investors

“The US Securities and Exchange Commission (SEC) has issued its second warning in a month to those investing in cryptocurrencies” writes Bob Donovitch for newsbtc.com. On Monday 11 December, Jay Clayton advised caution to those wishing to partake in initial coin offerings.SEC Chairman Jay Clayton, along with Commissioners Kara Stein and Michael Piwowar, said many companies hosting initial coin offerings were not doing so within compliance of federal and state securities regulations.In a statement earlier today, the governmental body advised those involved in the space to “exercise caution” with Bitcoin…

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Crypto News 

U.S. SEC warns bitcoin, cryptocurrency investors at risk

“WASHINGTON (Reuters) – The U.S. Securities and Exchange Commission warned Thursday that investors should “exercise caution” with cryptocurrencies like bitcoin, noting state and federal regulators may not be able to recoup any lost investments from illegal actors” reports businessinsider.com. Many promoters of initial coin offerings (ICOs) and other cryptocurrency investments are not following federal and state securities laws, SEC Chairman Jay Clayton and Commissioners Kara Stein and Michael Piwowar said in a statement.While regulators are trying to police these quickly growing markets, the SEC urged investors to be vigilant. “The…

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