• About
  • Privacy Policy
  • Contact
Tech Newsday
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News
No Result
View All Result
Tech Newsday
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News
No Result
View All Result
Tech Newsday
No Result
View All Result
Home Blockchain

U.S. Regulator Stops Wyoming Crypto Firm Tokens

TND News Desk by TND News Desk
November 11, 2021
in Blockchain, Today's News
0 0
0

The U.S. Securities and Exchange Commission (SEC) said in a statement that American Cryptofed DAO LLC, a Wyoming-based cryptocurrency company, “filed a materially deficient and misleading” form when trying to register its tokens, known as “Ducat” and “Locke,” as stock securities.

The disclosures contained no relevant information about either the tokens or the actual company and contained materially misleading statements, the SEC said.

The SEC, the crypto-startup, among many other omissions, did not have information about the company’s business, management and financial conditions and also made misleading statements about whether the tokens were securities.

American Cryptofed CEO Marian Orr disagreed with the SEC’s view that the tokens were securities, arguing that the startup had tried to discuss the issue with the SEC when it failed to respond to the company’s rebuttal sent last month.

“The purported ‘deficiencies’ the SEC referred to were the lack of attributes inherent to securities. These are attributes that the two tokens (Locke and Ducat) of a decentralized blockchain-based CryptoFed DAO monetary system will never have, ” Orr said.

SEC Chair Gary Gensler appears to have a broader view of whether cryptocurrencies fall within the SEC’s jurisdiction, saying the SEC is investigating cryptocurrencies in various ways and describing the crypto world as a “Wild West” riddled with risk and fraud.

For more information, read the original story in Reuters.

Subscribe

About Tech News Day

In just 10 minutes you will have all your leadership tech news needs covered. Our Editors browse the top tech news sites for you, get rid of the fluff and post summaries of the best. Our content is created by trained professionals and enhanced for IT leaders using leading edge artificial intelligence.

About

Tech Newsday

Tech News Day picks the new, most relevant tech stories.

Our selection is done by industry professionals – executives like you who pick the top stories for that day. Our writers summarize these to give you a quick summary and the key takeaways.

SUBSCRIBE

Categories

  • Artificial Intelligence
  • Auto Tech
  • Blockchain
  • Careers & Education
  • Channel Strategy
  • Cloud
  • Communications & Telecom
  • Companies
  • Data & Ananytics
  • Development
  • Digital Transformation
  • Distribution
  • Diversity & Inclusion
  • eCommerce
  • Emerging Tech
  • End User Hardware
  • Engineering
  • Financial
  • Future of Work
  • Governance
  • Government & Public Sector
  • Human Resources
  • Infrastructure
  • IoT
  • Leadership
  • Legal
  • Legislation & Regulation
  • Managed Services & Outsourcing
  • Marketing
  • Mobility
  • Open Source
  • Operations
  • People
  • Podcasts
  • Privacy
  • Security
  • Service
  • SMB
  • Social Networks
  • Software
  • Supply Chain
  • Today's News
  • Top Stories This Week
  • Women in Tech
  • Home
  • Today’s News
  • About
  • Privacy
  • Contact

2022 Tech News Day

No Result
View All Result
  • Security
  • Future of Work
  • Mobility
  • Emerging Tech
  • Today’s News

2022 Tech News Day

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In

Why are you leaving?

About Tech News Day

Tech News Day is a daily publication featuring key daily news stories about technology and how it affects businesses. We know that you are busy and that there’s a lot of information coming at you. While there are lots of programs that will curate based on what you have already read or followed, Tech News Day picks the new stories that we feel are most relevant.

Our selection is done by industry professionals – executives like you who pick the top stories for that day. Our writers summarize these to give you a quick summary and the key takeaways. If you want to do a deeper dive and get even more information, we provide a link to at least one of the longer stories from one of our sources (we are often following stories from more than one source).

We also have a daily podcast, published each morning so that you can get the news stories of the day from wherever you get your podcasts.

We hope you find this to be useful to you in keeping up to date in these challenging times. We love your input and opinions. You can use our feedback widget to rate individual stories or you can write us at NewsDesk@technewsday.com.

Click Here

-
00:00
00:00

Queue

Update Required Flash plugin
-
00:00
00:00