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Topic: SEC

Delays may be granted over public or national security risks. News 

SEC Mandates Public Companies to Disclose Cyberattacks Within Four Days

Adriana Marais, ,

The US Security and Exchange Commission has implemented a new regulation to prevent public companies from withholding information about cyberattacks. Under this rule, companies must disclose any significant cybersecurity incidents within four days. However, if a US attorney general believes that disclosing the information could pose a significant threat to national security or public safety, they may delay the disclosure. While these rules are a strict guideline, they are slightly less stringent than the European Union’s General Data Protection Regulation (GDPR), which requires disclosure within three days. The news comes…

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The Tesla chief is appealing a loss over his 'funding secured' tweet. News 

Elon Musk to Appeal SEC Dispute to Supreme Court

Adriana Marais, , ,

Elon Musk is escalating his dispute with the Securities and Exchange Commission (SEC) by appealing to the highest court in the land. Attorney Alex Spiro has verified that Musk intends to seek the Supreme Court’s intervention in determining whether the SEC exceeded its authority in imposing restrictions on Musk’s Twitter statements regarding Tesla’s financials (now X). Musk is contesting a recent appeals court ruling on May 15th, which dismissed his claims that the SEC misused the consent decree to subject him to unwarranted investigations related to his Twitter activity. The…

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The compromise would allow the exchange to continue operating in the US for the time being. News 

Binance and SEC Reach Agreement to Prevent US Asset Lockdown

Adarsh V.K, , ,

Binance has reached an agreement with the Securities and Exchange Commission that permits the cryptocurrency exchange to continue its operations in the US until the resolution of a lawsuit filed by the regulator earlier this month. The SEC had accused Binance and its founder, Changpeng Zhao, of inflating trading volumes, mishandling customer assets, and failing to prevent US investors from trading on Binance.com instead of a separate US system. After the charges were announced, the SEC attempted to freeze Binance’s US assets. The regulator said the change was necessary to…

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The move comes just one day after the agency took aim at Binance. News 

SEC Files Lawsuit Against Coinbase for Alleged Breach of Securities Laws

Nitin Misra, ,

The Securities and Exchange Commission has taken regulatory action against Coinbase, the largest cryptocurrency trading platform in the US, alleging that it acted as an unregistered national securities exchange, broker, and clearing agency. The SEC pointed out that traditional securities markets typically separate brokers, exchanges, and clearing agencies, but Coinbase “intertwines” these services. This is just the latest regulatory action against a major cryptocurrency company. The agency argued that because Coinbase did not register as a broker, national exchange or clearinghouse, it prevented investors from receiving protection. These include SEC…

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The SEC accused Binance founder Changpeng Zhao of operating a "web of deception," charging him and his exchange with 13 offences News 

SEC Sues Binance Billionaire Changpeng Zhao for Alleged Unregistered Exchange Activity

Jim Hendler, ,

The U.S. Securities and Exchange Commission targeted the most influential figure in the cryptocurrency industry on Monday. The Securities and Exchange Commission (SEC) accused Binance founder Changpeng Zhao of “running a fraud network” and charged him and his exchange with 13. These ranged from Binance’s alleged manipulation of trading volumes and inability to shut out US customers from the unregulated platform to mixing and moving billions of dollars of customer funds “as they please”. The complaint continues to threaten Zhao’s vast business empire, which has dominated the cryptocurrency industry for…

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