Tradestation Settles SEC and State Charges for $3 Million
Tradestation Crypto, Inc., a Florida-based cryptocurrency trading platform, has agreed to pay a total of $3 million in penalties to resolve allegations by the SEC and a consortium of state regulators. The charges accused Tradestation of offering and selling an unregistered crypto asset lending product that promised investors interest earnings on their deposits, an SEC press release revealed on Wednesday.The SECâs investigation found that from August 2020 to June 2022, Tradestation Crypto marketed a crypto lending product that enabled U.S. investors to deposit or purchase crypto assets in exchange for the companyâs promise to pay interest. However, the agency determined that Tradestation failed to register the offer and sale of this product, which it deemed a security, thereby violating federal securities laws.To resolve the SECâs charges, Tradestation has agreed to pay a $1.5 million penalty without admitting or denying the SECâs findings. Furthermore, the company consented to a cease-and-desist order prohibiting future violations of the registration provisions of the Securities Act of 1933.Parallel to the SEC settlement, Tradestation also agreed to pay an additional $1.5 million to settle similar charges by state regulatory authorities coordinated through the North American Securities Administrators Association (NASAA).Tradestation Cryptoâs decision to offer and sell the unregistered product came to a halt on Jun. 30, 2022, when the company voluntarily ceased its crypto lending program. Additionally, earlier this year, Tradestation announced plans to terminate all its crypto-related products and services in the U.S. by Feb. 22, further distancing itself from the practices that led to the regulatory scrutiny.This case showcases the ongoing challenges and regulatory focus in the United States. The SEC and state regulators continue to emphasize the importance of compliance with securities laws to protect investors from potential risks associated with crypto asset investments.The settlement also reflects the broader trend of regulatory agencies taking decisive actions against firms in the crypto space that fail to adhere to securities laws.Tradestation Crypto is a subsidiary of Monex Group, a Japanese finance entity that has shown a keen interest in the cryptocurrency sector, including plans to list its Coincheck cryptocurrency exchange in the U.S. Nasdaq stock exchange. The settlement is an important moment for Tradestation and serves as a cautionary tale for other crypto firms considering entering the U.S. market.#sanor016CommUNITY #sanor016CommUNIT #sanor016CommUNIY #TradeStation
Bitcoin Price Prediction as Bulls Target $47,000 Level â Time to Buy?
The quest for a robust Bitcoin price prediction intensifies as market bulls eye the $47,000 threshold. Currently, Bitcoin hovers around $44,500, climbing by 0.50% on February 8, signaling a potential pivot in investor sentiment.
This resurgence follows Bitcoinâs halt of a downward spiral, with its value finding support at approximately $43,000. The surge is buoyed by heightened network activity and the burgeoning utility of BRC 20 tokens, which together are catalyzing a price ascent.
Despite the backdrop of macroeconomic headwinds, such as elevated US Treasury yields and cautious Federal Reserve rate cut dialogues, the cryptocurrencyâs recovery hints at a growing investor confidence, possibly stirred by endorsements of Bitcoinâs intrinsic value as âdigital goldâ. #sanor016CommUNITY #sanor016CommUNIT #sanor016CommUNIY $BTC
Heroes of Mavia Launches MAVIA Token Airdrop to 100,000 Gamers and Ethereum NFT Land Owners
Heroes of Mavia has released the MAVIA token and airdropped it to 100,000 players and holders of 10,000 Ethereum non-fungible token (NFT) land plots in the game.
MAVIA launched on Ethereum on Feb. 6, and the Heroes of Mavia price has since gained 65% to trade at $3.76 at 06:57 EST. The 24-hour trading volumes stand at $141 million, with the current market cap at $112 million.
The gameâs developers, Skrice Studios, said that the MAVIA token airdrop will benefit 100,000 participants. The lucky players can claim up to 6,250,000 tokens, equivalent to 2.5% of the total supply.
read more đ https://insidebitcoins.com/news/heroes-of-mavia-launches-mavia-token-airdrop-to-100000-gamers-and-ethereum-nft-land-owners
Bitcoin Emerges as 'Flight to Safety' Asset, Outshining Gold, Says Cathie Wood
ARK Investâs CEO Cathie Wood believes there is a shift in investment trends, specifically, a growing preference for bitcoin over traditional gold investments. This trend has been particularly pronounced following the launch of spot bitcoin ETFs, offering investors streamlined access to the cryptocurrency. Read more đ https://news.bitcoin.com/bitcoin-emerges-as-flight-to-safety-asset-outshining-gold-says-cathie-wood/