Crypto Currency

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On May 23, 2024, the SEC approved exchange rule changes that will allow the listing and trading of a number of spot Ether exchange-traded products (ETPs). Ether is the second-largest cryptocurrency by market capitalization after Bitcoin.  The decision follows the SEC’s recent approval of spot Bitcoin ETPs in January 2024, as previously summarized here. Continue Reading SEC Approves Exchange Listings for Spot Ether ETPs

OnFebruary 9, 2023, the SEC Charged Payward Ventures, Inc. and Payward Trading Ltd. (d/b/a Kraken) (collectively, “Kraken”) with violating Sections 5(a) and 5(c) of the Securities Act for operating a crypto asset “staking-as-a-service program” without properly completing the registration process.  According to the SEC, a staking program allows investors to lock up “their crypto tokens…