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SEC Releases Hinman Speech, "ETH Isn't Securities". The U.S. Securities and Exchange Commission (SEC) released a speech by former SEC Corporate Finance Director William Hinman at the Yahoo Markets Summit in 2018. In the speech, Hinman said, "Based on the understanding of the Ethereum network and its decentralized structure, current Ethereum-related transactions are not securities transactions." Former SEC Corporate Finance Director Hinman is considered a key figure in the lawsuit between the SEC and Ripple over the sale of unregistered securities. Based on Hinman's speech, Ripple is developing a defense logic that 'XRP cannot be a security just as ETH is not a security'. However, the first footnote to the speech states. #ETH #Ethereum #SEC #crypto #securities
SEC Releases Hinman Speech, "ETH Isn't Securities".

The U.S. Securities and Exchange Commission (SEC) released a speech by former SEC Corporate Finance Director William Hinman at the Yahoo Markets Summit in 2018. In the speech, Hinman said, "Based on the understanding of the Ethereum network and its decentralized structure, current Ethereum-related transactions are not securities transactions." Former SEC Corporate Finance Director Hinman is considered a key figure in the lawsuit between the SEC and Ripple over the sale of unregistered securities. Based on Hinman's speech, Ripple is developing a defense logic that 'XRP cannot be a security just as ETH is not a security'. However, the first footnote to the speech states.

#ETH #Ethereum #SEC #crypto #securities
Are cryptocurrency securities?Is crypto a security? The SEC views many cryptocurrencies as securities, based on the Howey Test, but decentralized assets like Bitcoin and Ethereum are typically exempt. The debate continues, with regulatory impacts looming. #cryptocurrency #securities #HoweyTest #SEC $BTC $BNB $SOL {spot}(SUIUSDT) {spot}(LINKUSDT) {spot}(USDCUSDT)

Are cryptocurrency securities?

Is crypto a security? The SEC views many cryptocurrencies as securities, based on the Howey Test, but decentralized assets like Bitcoin and Ethereum are typically exempt. The debate continues, with regulatory impacts looming. #cryptocurrency #securities #HoweyTest #SEC

$BTC $BNB $SOL

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Bearish
news 📰: The #SEC had accused #Coinbase of operating illegally ⛔because it failed to register as an exchange. It also alleged that Coinbase traded at least 13 crypto #assets that are #securities that should have been registered, including tokens🪙 such as #Solana , Cardano and Polygon
news 📰:

The #SEC had accused #Coinbase of operating illegally ⛔because it failed to register as an exchange. It also alleged that Coinbase traded at least 13 crypto #assets that are #securities that should have been registered, including tokens🪙 such as #Solana , Cardano and Polygon
#Zcash #ZEC $ZEC #securities Hey, guys. Have you seen what is going on with anonymous cryptocurrencies such as XMR, DASH, ZEN, ZEC? Let's take a closer look at ZEC as it is the most interesting one right now. Due to the banning of anonymous cryptocurrencies in a number of jurisdictions, confidential crypto has been delisted from a number of exchanges. XMR and ZEC was removed from the OKX exchange, and later XMR was also removed from Binance, but ZEC is still listed and trading, for how long is unknown. If you look at the ratio of the broad altcoin market TOTAL3 to ZEC you can see that the instrument has rolled to the bottom, forming a platform that looks like a trend leveling and now there is a rebound, and since June, when most altcoins have folded by 50-70% Zcash has remained at the same levels or even increased. On the chart of the instrument is also a breakdown of the downtrend, but for confirmation I am waiting for a breakdown of the $ 35 zone with the potential of a return, at least to the zone 0.382 looks very good. On the volume terminal there are also large volumes on the asc delta. The last flash crash was very quickly bought back and returned to the $30-32 zone. Cancellation of all this scenario will be the departure of the price below 25$. Risks to consider. 1. higher volatility compared to bitcoin. 2. Risk of delisting, the transaction in question is not buy and hodl, but buy to earn/lose and exit. Stay tuned.
#Zcash #ZEC $ZEC #securities
Hey, guys.
Have you seen what is going on with anonymous cryptocurrencies such as XMR, DASH, ZEN, ZEC?
Let's take a closer look at ZEC as it is the most interesting one right now.
Due to the banning of anonymous cryptocurrencies in a number of jurisdictions, confidential crypto has been delisted from a number of exchanges.
XMR and ZEC was removed from the OKX exchange, and later XMR was also removed from Binance, but ZEC is still listed and trading, for how long is unknown.
If you look at the ratio of the broad altcoin market TOTAL3 to ZEC you can see that the instrument has rolled to the bottom, forming a platform that looks like a trend leveling and now there is a rebound, and since June, when most altcoins have folded by 50-70% Zcash has remained at the same levels or even increased.
On the chart of the instrument is also a breakdown of the downtrend, but for confirmation I am waiting for a breakdown of the $ 35 zone with the potential of a return, at least to the zone 0.382 looks very good. On the volume terminal there are also large volumes on the asc delta. The last flash crash was very quickly bought back and returned to the $30-32 zone. Cancellation of all this scenario will be the departure of the price below 25$.
Risks to consider.
1. higher volatility compared to bitcoin.
2. Risk of delisting, the transaction in question is not buy and hodl, but buy to earn/lose and exit.
Stay tuned.
SEC Orders Tai Mo Shan To Pay $123 Million In Penalties Regarding Sale Of LUNA Crypto AssetsAccording to an order dated December 20, 2024, the #SEC instituted cease-and-desist proceedings against Tai Mo Shan Limited, a Cayman company. The order relates to the offer and resale of #LUNA✅ as #Securities into the market on U.S.-based crypto asset trading platforms without being registered. It was further alleged that investors were misled about the efficacy of Terraform’s arbitrage mechanism, which the public believed (based on Terraform’s prior statements) solely maintained UST’s peg to the U.S. dollar.   Tai Mo Shan was ordered to pay disgorgement of $73,452,756, prejudgment interest of $12,916,153 and a civil money penalty of $36,726,378 to the Securities and Exchange Commission.  Securities Act violations Based on the order, Tai Mo Shan entered into agreements with Terraform, the issuer of LUNA. Under these agreements, Tai Mo Shan would receive LUNA crypto assets being offered and sold as securities in exchange for providing services. The order explained: Rather than receive a fee for its services, under these agreements, Tai Mo Shan obtained a loan of LUNA from Terraform, through which Tai Mo Shan received a large number of LUNA for a period of time, typically two years, after which Tai Mo Shan had the option of returning the tokens at no cost or purchasing the loaned tokens at the price specified in the agreement.  The order added: Tai Mo Shan’s services included activities typical of a statutory underwriter; that is, acting as a “conduit[] for the transfer of securities to the public.”  Specifically, Tai Mo Shan acquired LUNA, which was offered and sold as a security, from Terraform in or around the time it was first made available to the public.  The order continued: Tai Mo Shan entered into its first agreement to acquire LUNA on November 19, 2019, approximately seven months after LUNA’s April 24, 2019, launch on the Terra blockchain, but prior to its wider public availability on crypto asset trading platforms. Tai Mo Shan acquired certain LUNA crypto assets offered and sold as securities with a view toward distribution, as evidenced by the fact that Tai Mo Shan offered and resold LUNA as securities into the market on U.S.-based crypto asset trading platforms, shortly after acquiring the crypto assets from Terraform.  From January 2021 to May 2022, Tai Mo Shan facilitated the distribution of LUNA offered and sold as securities by engaging in one-sided trading strategies on U.S.-based crypto asset trading platforms designed to liquidate its LUNA holdings acquired from Terraform by transferring those securities to the public and adding to LUNA’s circulating supply.  Tai Mo Shan profited from these transactions. The order concluded: As a result of the conduct described above, Tai Mo Shan violated Sections 5(a) and 5(c) of the Securities Act because Tai Mo Shan directly or indirectly offered and sold crypto assets being offered and sold as securities on U.S.-based crypto asset trading platforms through the use of interstate commerce when no registration statement was in effect and no exemption from such registration applied. Purchasing UST & Misleading Investors About Arbitrage System In addition to the foregoing, it was alleged that, “In May 2021, Tai Mo Shan acted negligently by engaging in a course of conduct that caused investors to be deceived about the efficacy of Terraform’s arbitrage mechanism, which the public believed—based on Terraform’s prior statements—solely maintained UST’s peg to the U.S. dollar.” The order explained: UST was a crypto asset that Terraform designed to maintain a one-to-one peg to the U.S. dollar, by virtue of an algorithm coded into the Terraform blockchain that tied the value of UST to LUNA.  The algorithm was intended to provide an arbitrage opportunity for traders to keep the price of UST pegged at $1.  If, for example, the market price of UST dropped to $0.95, traders could buy UST at that price and exchange each UST for $1 worth of LUNA by “burning” the UST and “minting” the LUNA through the algorithm.  In theory, this process would reduce the supply of UST and increase its price until it reached a dollar.  The order added: While the value of UST was intended to stay at $1, the value of LUNA could, and did, increase as more investors engaged with the Terraform ecosystem. On May 23, 2021, the price of UST began to sharply fall below its $1 peg.  At that time, Tai Mo Shan and Terraform entered into a verbal agreement whereby Terraform agreed to fully vest the remaining portion of LUNA that was owed to Tai Mo Shan pursuant to its loan agreements with Terraform. Tai Mo Shan made purchases of UST on May 23, 2021 and subsequent days, in a manner that diverged from its historic trading pattern for UST by building a large long position in UST, accumulating more than $20 million worth of UST. The order continued: The investing public, which looks to centralized trading platforms for up-to-the moment market data, would have seen additional demand for, and upward price movement in, UST, but would not have been aware of the extent of UST demand that was coming from Tai Mo Shan’s purchases.  In light of Terraform’s public statements regarding how the arbitrage mechanism operated, Tai Mo Shan should have known that its trading would mislead the investing public to believe that Terraform’s arbitrage mechanism, which was coded into Terraform’s blockchain, alone raised the price of UST back up to $1. Tai Mo Shan should have known that purchasing UST and supporting its price in this manner misled the market about the stability of UST’s peg and the effectiveness of Terraform’s algorithm meant to maintain that stability.     Based on the order, Tai Mo Shan and Terraform’s agreement was memorialized on July 21, 2021.  The order explained, “Pursuant to this amended agreement, Tai Mo Shan began receiving monthly installments of unlocked LUNA in September 2021.” The order added: Tai Mo Shan earned a profit of approximately $73,452,756 million from the sale of the additional LUNA that Tai Mo Shan received from the amended agreement. As a result of the negligent conduct described above, Tai Mo Shan violated Section 17(a)(3) of the Securities Act, which makes it unlawful for any person in the offer or sale of a security to engage “in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser.”   As a result of the foregoing, the following orders were made: A. Pursuant to Section 8A of the Securities Act, Respondent Tai Mo Shan cease and desist from committing or causing any violations and any future violations Sections 5(a), 5(c), and 17(a)(3) of the Securities Act. B. Tai Mo Shan shall, within 14 days of the entry of this Order, pay disgorgement of $73,452,756 and prejudgment interest of $12,916,153 to the Securities and Exchange Commission.  If timely payment is not made, additional interest shall accrue pursuant to SEC Rule of Practice 600. C. Tai Mo Shan shall, within 14 days of the entry of this Order, pay a civil money penalty in the amount of $36,726,378 to the Securities and Exchange Commission.

SEC Orders Tai Mo Shan To Pay $123 Million In Penalties Regarding Sale Of LUNA Crypto Assets

According to an order dated December 20, 2024, the #SEC instituted cease-and-desist proceedings against Tai Mo Shan Limited, a Cayman company. The order relates to the offer and resale of #LUNA✅ as #Securities into the market on U.S.-based crypto asset trading platforms without being registered. It was further alleged that investors were misled about the efficacy of Terraform’s arbitrage mechanism, which the public believed (based on Terraform’s prior statements) solely maintained UST’s peg to the U.S. dollar.   Tai Mo Shan was ordered to pay disgorgement of $73,452,756, prejudgment interest of $12,916,153 and a civil money penalty of $36,726,378 to the Securities and Exchange Commission. 
Securities Act violations
Based on the order, Tai Mo Shan entered into agreements with Terraform, the issuer of LUNA. Under these agreements, Tai Mo Shan would receive LUNA crypto assets being offered and sold as securities in exchange for providing services.
The order explained:
Rather than receive a fee for its services, under these agreements, Tai Mo Shan obtained a loan of LUNA from Terraform, through which Tai Mo Shan received a large number of LUNA for a period of time, typically two years, after which Tai Mo Shan had the option of returning the tokens at no cost or purchasing the loaned tokens at the price specified in the agreement. 
The order added:
Tai Mo Shan’s services included activities typical of a statutory underwriter; that is, acting as a “conduit[] for the transfer of securities to the public.”  Specifically, Tai Mo Shan acquired LUNA, which was offered and sold as a security, from Terraform in or around the time it was first made available to the public. 
The order continued:
Tai Mo Shan entered into its first agreement to acquire LUNA on November 19, 2019, approximately seven months after LUNA’s April 24, 2019, launch on the Terra blockchain, but prior to its wider public availability on crypto asset trading platforms. Tai Mo Shan acquired certain LUNA crypto assets offered and sold as securities with a view toward distribution, as evidenced by the fact that Tai Mo Shan offered and resold LUNA as securities into the market on U.S.-based crypto asset trading platforms, shortly after acquiring the crypto assets from Terraform.  From January 2021 to May 2022, Tai Mo Shan facilitated the distribution of LUNA offered and sold as securities by engaging in one-sided trading strategies on U.S.-based crypto asset trading platforms designed to liquidate its LUNA holdings acquired from Terraform by transferring those securities to the public and adding to LUNA’s circulating supply.  Tai Mo Shan profited from these transactions.

The order concluded:
As a result of the conduct described above, Tai Mo Shan violated Sections 5(a) and 5(c) of the Securities Act because Tai Mo Shan directly or indirectly offered and sold crypto assets being offered and sold as securities on U.S.-based crypto asset trading platforms through the use of interstate commerce when no registration statement was in effect and no exemption from such registration applied.
Purchasing UST & Misleading Investors About Arbitrage System
In addition to the foregoing, it was alleged that, “In May 2021, Tai Mo Shan acted negligently by engaging in a course of conduct that caused investors to be deceived about the efficacy of Terraform’s arbitrage mechanism, which the public believed—based on Terraform’s prior statements—solely maintained UST’s peg to the U.S. dollar.”
The order explained:
UST was a crypto asset that Terraform designed to maintain a one-to-one peg to the U.S. dollar, by virtue of an algorithm coded into the Terraform blockchain that tied the value of UST to LUNA.  The algorithm was intended to provide an arbitrage opportunity for traders to keep the price of UST pegged at $1.  If, for example, the market price of UST dropped to $0.95, traders could buy UST at that price and exchange each UST for $1 worth of LUNA by “burning” the UST and “minting” the LUNA through the algorithm.  In theory, this process would reduce the supply of UST and increase its price until it reached a dollar. 
The order added:
While the value of UST was intended to stay at $1, the value of LUNA could, and did, increase as more investors engaged with the Terraform ecosystem. On May 23, 2021, the price of UST began to sharply fall below its $1 peg.  At that time, Tai Mo Shan and Terraform entered into a verbal agreement whereby Terraform agreed to fully vest the remaining portion of LUNA that was owed to Tai Mo Shan pursuant to its loan agreements with Terraform. Tai Mo Shan made purchases of UST on May 23, 2021 and subsequent days, in a manner that diverged from its historic trading pattern for UST by building a large long position in UST, accumulating more than $20 million worth of UST.
The order continued:
The investing public, which looks to centralized trading platforms for up-to-the moment market data, would have seen additional demand for, and upward price movement in, UST, but would not have been aware of the extent of UST demand that was coming from Tai Mo Shan’s purchases.  In light of Terraform’s public statements regarding how the arbitrage mechanism operated, Tai Mo Shan should have known that its trading would mislead the investing public to believe that Terraform’s arbitrage mechanism, which was coded into Terraform’s blockchain, alone raised the price of UST back up to $1. Tai Mo Shan should have known that purchasing UST and supporting its price in this manner misled the market about the stability of UST’s peg and the effectiveness of Terraform’s algorithm meant to maintain that stability.    
Based on the order, Tai Mo Shan and Terraform’s agreement was memorialized on July 21, 2021. 
The order explained, “Pursuant to this amended agreement, Tai Mo Shan began receiving monthly installments of unlocked LUNA in September 2021.”
The order added:
Tai Mo Shan earned a profit of approximately $73,452,756 million from the sale of the additional LUNA that Tai Mo Shan received from the amended agreement. As a result of the negligent conduct described above, Tai Mo Shan violated Section 17(a)(3) of the Securities Act, which makes it unlawful for any person in the offer or sale of a security to engage “in any transaction, practice, or course of business which operates or would operate as a fraud or deceit upon the purchaser.”  
As a result of the foregoing, the following orders were made:
A. Pursuant to Section 8A of the Securities Act, Respondent Tai Mo Shan cease and desist from committing or causing any violations and any future violations Sections 5(a), 5(c), and 17(a)(3) of the Securities Act. B. Tai Mo Shan shall, within 14 days of the entry of this Order, pay disgorgement of $73,452,756 and prejudgment interest of $12,916,153 to the Securities and Exchange Commission.  If timely payment is not made, additional interest shall accrue pursuant to SEC Rule of Practice 600. C. Tai Mo Shan shall, within 14 days of the entry of this Order, pay a civil money penalty in the amount of $36,726,378 to the Securities and Exchange Commission.
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Bearish
🚨 Why The #SEC Calling Cryptos Securities Is A Major Issue 1️⃣ Disclosures & Unknown Identities The SEC's move to classify cryptos as #securities demands detailed disclosures. But here's the catch: the original buyers of many coins/tokens, especially from ICOs, are often a mystery. Worst case? Some of these #holders could be sanctioned entities or states! 2️⃣ Concentration of Holdings Exposed If forced to disclose, we'd likely see the extreme concentration in ownership of some cryptos. 3️⃣ Why It Matters to #CryptoHolders This isn't just regulatory jargon. Knowing who owns what and how much is crucial in the crypto world. It's key to understanding tokenomics, something we focus on in our #crypto reviews. The average crypto holder should know this info.
🚨 Why The #SEC Calling Cryptos Securities Is A Major Issue

1️⃣ Disclosures & Unknown Identities

The SEC's move to classify cryptos as #securities demands detailed disclosures.

But here's the catch: the original buyers of many coins/tokens, especially from ICOs, are often a mystery. Worst case?

Some of these #holders could be sanctioned entities or states!

2️⃣ Concentration of Holdings Exposed

If forced to disclose, we'd likely see the extreme concentration in ownership of some cryptos.

3️⃣ Why It Matters to #CryptoHolders

This isn't just regulatory jargon. Knowing who owns what and how much is crucial in the crypto world.

It's key to understanding tokenomics, something we focus on in our #crypto reviews. The average crypto holder should know this info.
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Bullish
⚡️SECURITY TOKENS Vs D-NFTS⚡️ ✅ This is what I want to start looking at.... ✅ Real-estate transactions where not only static data such as registered property, cadastral reference... ✅ Also dynamic data such as monthly cost of electricity, water, energy improvements, works and #reforms carried out ✅sale prices are also incorporated and registered. VICOX The Pool Marbella MetaWealth™ DOM3 Amr Adawi #nfts  #TrendingTopic  #BTC  #securities $BTC $ETH Vicente Ortiz Vicox Lawyer
⚡️SECURITY TOKENS Vs D-NFTS⚡️

✅ This is what I want to start looking at....

✅ Real-estate transactions where not only static data such as registered property, cadastral reference...

✅ Also dynamic data such as monthly cost of electricity, water, energy improvements, works and #reforms carried out

✅sale prices are also incorporated and registered.

VICOX The Pool Marbella MetaWealth™ DOM3 Amr Adawi

#nfts  #TrendingTopic  #BTC  #securities
$BTC $ETH
Vicente Ortiz
Vicox Lawyer
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