SEC

Cryptocurrency growth in the last decade has taken the technological world by storm, and with this growth came many questions and concerns. The classification of cryptocurrency is primarily a chief concern. The subject is one that courts, government agencies, and even financial markets struggle to grasp.  The primary debate begs an answer to an essential question: are they securities or commodities?  Cryptocurrency traverses local, national, regional, and international boundaries. Hence the need for classification is both a national and international…

On May 12th, 2020, Telegram founder and CEO Pavel Durov announced the Telegram Open Network (TON), the messaging company's highly anticipated blockchain platform. The news that Telegram had been forced to abandon its TON project symbolized sustained pressure from regulators in the U.S to impede social media-backed cryptocurrency ventures. That said, the project's source code remains freely available on Github, so other developers can technically use it to develop their version of the Telegram Open Network. The original TON development…

The United States government sent ten nominations and one withdrawal to the senate on June 2. One of the nominees is Hester Peirce who is affectionately called ‘Crypto Mom.’ According to the website of the White House, it seems she will serve on the U.S. Securities and Exchange Commission until 2025. “Hester Maria Peirce, of Ohio, to be a Member of the Securities and Exchange Commission for a term expiring June 5, 2025.  (Reappointment)” Pierce is among the individuals with great enthusiasm…

Are governments keen to regulate cryptocurrencies to prevent financial fraud and protect citizens, or are they using regulation to Stifle Decentralized Finance? "What Was TON And Why It Is Over" is the title that was given to the parting statement made by Telegram's co-founder after Telegram was recently forced to abandon the TON blockchain project. After a continuous legal battle with the US Securities Exchange Commission (SEC), this ensued, which accused Telegram of conducting an illegal ICO sale and issuing…

Regulations in the cryptocurrency space have been a major point of focus. In February this year, Treasury Secretary Steven Mnuchin noted that cryptocurrency regulations will soon arrive in the United States. Some people consider cryptocurrency regulations as a hindrance to innovation and adoption. However, the cryptocurrency space is at higher risk due to the absence of clear regulation. Due to unclear regulations, numerous cryptocurrency exchanges have moved their base to other countries. Recently, Jason Williams of Morgan Creek Digital featured…

The TON community has marched on to build the "Free TON Blockchain" despite the legal battle between Telegram and the (SEC) The community claims that Telegram can no longer be involved in the project given the regulatory hurdles it faces from the SEC A vast majority of TONs will be distributed among users for them to participate in staking for the new blockchain On May 7th, 2020, the Free TON community launched the Free TON Blockchain and its native token…

Investors across the globe have always avoided the crypto market for its baffling qualities. The crypto world is renowned for its volatile prices that can ordinarily see prices fluctuate by a margin of up to 20%. This is why large investors are skeptical about joining the market. Sleeping a rich man and waking up impecunious as you lost all your wealth is common. However, the United States Securities and Exchange Commission, SEC, to join the industry might change the perception of…

Ripple is a well-known company in the crypto space. The payment and exchange network aims to provide an instant and easy way to move money globally. Although Ripple's idea was conceived in 2004, it wasn't until 2011 that the company actually came to be, with investors jumping on board to support Ripple Labs.  Ripple comes with its own currency, XRP, and presents several benefits for crypto enthusiasts. It's a simple design for starters as a day-to-day payment system makes transactions…

The Commodity Futures Trading Commission(CFTC) gave their opinion on the ongoing legal battle between telegram and Security Exchange Commision. On February 18, CFTC filed a letter after a New York Southern District Court Judge requested their opinion on the tussle at hand. The dispute is based on the functionality of Telegram’s digital currency, Gram. The letter states that the digital currency should be regarded as a commodity and not a security. Despite the letter getting released by the office of…