sec blockchain partners 30m

However, the order finds that after publicly unveiling DMM, the respondents realized that DeFi Money Market could not operate as promised because the price volatility of the digital assets used to purchase the tokens created risk that the income generated through income-generating assets would be insufficient to cover appreciation of investors’ principal. The order finds that rather than notifying investors of this roadblock, the respondents misrepresented how the company was operating, including by falsely claiming that DeFi Money Market had bought car loans that they displayed on DeFi Money Market’s website. While the respondents controlled another company that owned car loans, DeFi Money Market never acquired an ownership interest in any of those loans.


The use of China’s Central Bank Digital Currency (CBDC) is currently being boosted by the city of Shenzhen, according to reports that the authority has airdropped 30 million Digital Yuan (e-CNY) to its residents.

According to the Shanghai Securities News, the airdrop was aimed at changing the resident’s consumer spending habits to be appropriately revitalized.

Per the report, the airdrop will be made or distributed through food delivery giant, Meituan Dianping, one of the private partners helping the Chinese government with the broad retail testing of the e-CNY.

GreatPoint Ventures and August Capital, among other existing investors, are participating in the Series B round as well.

“We believe we’ve built a fundamentally better mousetrap for the exchange of sensitive information, as well as a series of products and services that allow lenders and others to ideally make better identity verification, fraud prevention and underwriting decisions,” Jiwan said.

Specifically,Spring Labs is hoping to “revolutionize” the way consumer financial data is stored and shared among financial services institutions with a network foundation known as the Spring Protocol.

The Securities and Exchange Commission issued its first charges against the decentralized finance industry Friday, accusing two people of illegally selling over $30 million of securities in unregistered offerings.

The SEC’s Friday order found that two executives from the Blockchain Credit Partners company used the Ethereum blockchain to sell cryptocurrencies to investors while misleading them about the company’s profitability. Specifically, investors purchased cryptocurrencies using digital assets like ether. The company then promised to pay investors over 6 percent in interest and that the funds would go toward physical investments like car loans to create additional income.


Комиссия по ценным бумагам и биржам США заявила, что ею был подан иск против Blockchain Credit Partners. В SEC подозревают данную компанию в продаже незарегистрированных ценных бумаг на протяжении почти всего минувшего года.

Регулятор считает, что вышеуказанная компания вела деятельность по продаже цифровых токенов в период с февраля 2020 года по февраль 2021 года. За это время, по данным SEC, Blockchain Credit Partners продала токенов на сумму в $30 млн.
Эти самые токены были признаны регулятором ценными бумагами, а значит они должны были быть зарегистрированными в агентстве задолго до продажи.

«Полное или частичное раскрытие информации о продаже незарегистрированных ценных бумаг — это наша первоочередная задача.

Besides probes into Uniswap’s conduct, SEC’s enforcement division recently sent letters to several firms as part of an effort to examine cryptocurrency lending services, The Wall Street Journal mentioned.

A blockchain-focused lawyer with Harter Secrest & Emery LLP, Sarah Brennan, stated that the new development could indicate the being part of SEC’s more comprehensive commitment to drive a new era of DeFi enforcement.

“My feeling is this is part of a broad sweep, similar to what happened with ICOs in 2018,” said Brennan.

Heightened Regulation for DeFi Space

The new development signals that the SEC’s recent talk on DeFi is translating into action – and that a new era of enforcement is beginning to take shape.

Early last month, SEC chairman Gary Gensler called cryptocurrency markets rife with abuse, cams, and fraud.

Bazaar’s latest round brings the firm’s total funding to $37.8 million, building on its $6.5 million seed round in January of this year and $1.3 million pre-seed round in June 2020.

Bazaar was founded by Saad Jangda and Hamza Jawaid in 2019. Janga previously worked as a product manager at local Uber subsidiary, Careem, while Jawaid worked for management consulting firm, McKinsey.

Related:Crypto users demand reinstatement of Pakistani government adviser following sudden resignation

Pakistan’s government has made moves to develop a more permissive regulatory apparatus for the nation’s crypto sector in recent months.

In November, Pakistan’s Securities and Exchange Commission published a consultation paper exploring the benefits of crypto assets and tokenization.

The SEC determined that these “real-world” investments wouldn’t generate the income advertised.

“Full and honest disclosure remains the cornerstone of our securities laws – no matter what technologies are used to offer and sell those securities,” Gurbir S. Grewal, SEC Enforcement Division director, said in a statement Friday. “This allows investors to make informed decisions and prevents issuers from misleading the public about business operations.”

Friday’s charges against the company come as the federal government is preparing to issue new regulations for the decentralized finance and cryptocurrency markets.

We’re also really excited about collaborating with them to build new networks, and taking the protocol they’ve built so companies can share information anonymously or protect consumer privacy.”

TransUnion sees a number of use cases beyond fraud, namely “any kind of risk-related use case,” according to Ivanov.

Rather than attempt to build out the technology itself, TransUnion recognizes the value of investing in a company that’s already built out technology capabilities in spaces in which it has not yet invested as much, according to Chaouki.

“We have way more ideas than we have capacity to serve the market,” he said. “It’s not easy to just ramp up capacity.

Pakistani blockchain-powered business-to-business (B2B) marketplace, Bazaar Technologies, has secured $30 million in the country’s largest Series A round to date.

Bazaar announced the closure of its latest raise on Aug. 24, revealing that th Silicon Valley-based Defy Partners and Singapore’s Wavemaker Partners had led the funding round.

The round also saw participation from dozens of other investors, including Endeavor, LinkedIn, Japan’s Saison Capital, and existing investors Indus Valley Capital and Alter Global.

Bazaar claims to be the leading B2B marketplace platform for small merchants in Pakistan, serving 750,000 merchants spanning 400 towns and villages.

Consumer credit reporting agency TransUnion recently announced it had invested an undisclosed sum in Spring Labs, which is building out a blockchain-based data-sharing platform.

Now, TechCrunch has exclusive details on the size of that round and the nature of the relationship.

First off, the fact that TransUnion, a public company with a $20 billion market cap, chose to back and partner with four-year-old Spring Labs is significant in and of itself. A number of fintechs have popped up as of late aiming to disrupt the traditional model of evaluating an individual’s creditworthiness.

Spring Labs is one of them. The startup uses blockchain with the aim of creating a richer network effect of data that allows credit bureaus and others to predict the creditworthiness of people who are not in the traditional credit bureau system.

Exchange Commission (SEC) is reportedly investigating Uniswap Labs, the development firm behind the largest decentralised cryptocurrency exchange (DEX), Uniswap.

According to The Wall Street Journal media outlets, enforcement attorneys working at the agency are carrying out a civil investigation into Uniswap Labs, seeking information on how investors use the trading platform and how the team behind it markets the platform.

The SEC declined to comment on that matter, stating that the regulator does not confirm or deny investigations reports.

However, a spokesperson from Uniswap Labs talked about the development and said that the firm is “committed to complying with the laws and regulations governing our industry and to providing information to regulators that will assist them with any inquiry.”

The investigation is still in its early stages.

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