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  • Getting Back On Base: Statement Of SEC Commissioner Hester M. Peirce On The Dismissal Of The Civil Enforcement Action Against Coinbase

    Date 27/02/2025

    Today the Commission settled its case against Coinbase by dismissing it with prejudice. I did not support the action against Coinbase. Among other things, I was concerned that it was part of the Commission’s larger strategy to use its enforcement tool to regulate the crypto industry. Typically, developing regulations to address new industries and business practices is the province of the Commission’s capable, expert policy divisions. The decision by the previous Commission to shift this function to the Division of Enforcement by engaging in a large-scale regulation-by-enforcement initiative harmed the American public, adversely affected the industry, and impeded the ability of the Commission’s skilled and dedicated professional staff to use their expertise as it was intended to be used.

  • Staff Statement On Meme Coins, SEC Division Of Corporation Finance

    Date 27/02/2025

    As part of an effort to provide greater clarity on the application of the federal securities laws to crypto assets, the Division of Corporation Finance is providing its views on “meme coins.” A “meme coin” is a type of crypto asset inspired by internet memes, characters, current events, or trends for which the promoter seeks to attract an enthusiastic online community to purchase the meme coin and engage in its trading. Although individual meme coins may have unique features, meme coins typically share certain characteristics. Meme coins typically are purchased for entertainment, social interaction, and cultural purposes, and their value is driven primarily by market demand and speculation. In this regard, meme coins are akin to collectibles. Meme coins also typically have limited or no use or functionality. Given the speculative nature of meme coins, they tend to experience significant market price volatility, and often are accompanied by statements regarding their risks and lack of utility, other than for entertainment or other non-functional purposes.

  • SEC Announces Dismissal Of Civil Enforcement Action Against Coinbase

    Date 27/02/2025

    The Securities and Exchange Commission today announced that the Commission has filed a joint stipulation with Coinbase Inc. and Coinbase Global Inc. to dismiss the ongoing civil enforcement action against the two entities.

  • SEC Charges Justinas Butkus With Orchestrating $4 Million Fraud - Butkus Used Fraudulent Investment Firms TBO Capital And Gray Capital To Scam Investors

    Date 27/02/2025

    The Securities and Exchange Commission today filed charges against Justinas Butkus, of Lithuania, and two companies he owned and controlled, HMC Trading LLC and HMC Management LLC, for fraudulently raising approximately $4.1 million from 64 investors by selling interests in mutual funds that did not exist.

  • SEC Investor Advisory Committee To Examine The Disclosure Of AI’s Impact On Company Operations - And Retail Investor Fraud In America At March 6 Meeting

    Date 27/02/2025

    The Securities and Exchange Commission’s Investor Advisory Committee will hold a public meeting at the SEC Headquarters in Washington, D.C., on March 6, at 10 a.m. ET. The meeting will also be webcast on the SEC website.