Does the SEC’s ICO Lawsuit Against Kik Go Too Far?

Since 2017, the Securities and Exchange Commission has been sending warning signals to the cryptocurrency industry over so-called “initial coin offerings” (ICOs), which entail selling digital tokens to the public that can–in theory at least–one day be used to participate in an online service. Those warnings have so far come in form of public statements […]

The SEC’s Kik Crypto Case Shows Just How Far Crypto Has To Go—Data Sheet

We’re big on “wars” these days. There’s a trade war on with China, which some think is a new kind of cold war. The culture wars over perennially hot-button topics like abortion rights are heating up. And at the intersection of finance, technology, and securities law there’s a “war on crypto.” “Crypto,” for the uninitiated, […]

SEC Guidance Sparks Fear and Loathing in Crypto Industry

When the Securities and Exchange Commission this week issued guidelines for cryptocurrency companies that want to sell digital tokens, many in the industry praised the SEC for new regulatory clarity, but also privately seethed the agency had gone too far. “This feels like an overt declaration of war on cryptocurrencies,” said a senior lawyer who […]

This Founder Just Agreed to Pay $17 Million To Settle a Fraud Charge. Now He’s Heading an AI Startup

Fake it until you make it, the old adage goes. The founder of Palo Alto-based Jumio, a mobile payments identification maker, has been called out by the Securities and Exchange Commission for taking it too far. On Tuesday, the SEC said former Jumio CEO Daniel Mattes has agreed to pay over $17 million to settle […]

Fess Up: SEC Goes Easy on Cryptocurrency Companies That Cooperate

The U.S. Securities and Exchange Commission has been cutting deals in recent months with cryptocurrency projects it has deemed to be in violation of the so-called Howey test, a rule-of-thumb for determining whether an asset qualifies as a security and, therefore, must be registered with the agency. I spoke with some of the entrepreneurs who […]

Why We Should Stop Trying to Kill Quarterly Reporting

“Our markets thirst for high-quality, timely information regarding company performance and material corporate events. We recognize the importance of this information to well-functioning and fair capital markets. We also recognize the need for companies and investors to plan for the long term. Our rules should reflect these realities.” Those are the remarks of Securities and […]

Tesla CEO Elon Musk’s SEC Troubles Create ‘Tornado of Uncertainty,’ Says Analyst

Elon Musk’s latest Securities and Exchange Commission (SEC) problems could put some pressure on his company’s stock, according to one analyst. In a note to investors on Tuesday, Wedbush Securities analyst Dan Ives said that the SEC’s request on Monday to place the Tesla CEO in contempt for a tweet he sent out last week […]

SEC Wants Tesla CEO Elon Musk Held in Contempt for Violating Tweet Agreement, Report Says

The Securities and Exchange Commission asked a federal court in Manhattan to hold Tesla CEO Elon Musk in contempt, citing Musk’s tweets last week about the electric-vehicle manufacturer’s production levels, the Wall Street Journal reported. The tweets in question concern Musk discussing Tesla’s estimates for automobile production volumes this year. The Journal said that the […]