👉 The SEC initially sued Debt Box in July, accusing the company of selling unregistered securities named "node licenses."
👉 These licenses were promoted to investors with promises of mining cryptocurrency, but the SEC alleged that Debt Box was minting the #crypto themselves using code.#BinanceTournament #BTC #safu #LUNC #ETH
Ex-Bithumb Chair Faces 8-Year Sentence in Landmark Crypto Case
However, Lee’s defense highlights inconsistencies in Kim’s statements, questioning his credibility and asserting that Kim was informed about the BXA Coin’s listing progress. Lee Jeong-hoon, the former chairman of major cryptocurrency exchange Bithumb, confronts serious fraud charges. Prosecutors have requested an eight-year prison term for Lee, accusing him of orchestrating a 110 billion won fraud involving Kim Byung-geon, the chairman of BK Group. The allegations focus on a controversial deal where Lee offered Kim co-management of Bithumb and the listing of BXA (Bithumb Coin) on the exchange.
Lee’s indictment centers on accusations of violating the Act on Aggravated Punishment for Specified Economic Crimes. Prosecutors allege that he aimed to restructure Bithumb’s governance to benefit from exchange coins, evading financial regulations. They argue that despite knowing the challenges in listing BXA Coin, Lee continued to accept payments without informing Kim about the decision not to list the coin.
Lee Jeong-hoon, the former chairman of major cryptocurrency exchange Bithumb, confronts serious fraud charges. Prosecutors have requested an eight-year prison term for Lee, accusing him of orchestrating a 110 billion won fraud involving Kim Byung-geon, the chairman of BK Group. The allegations focus on a controversial deal where Lee offered Kim co-management of Bithumb and the listing of BXA (Bithumb Coin) on the exchange.
Lee’s indictment centers on accusations of violating the Act on Aggravated Punishment for Specified Economic Crimes. Prosecutors allege that he aimed to restructure Bithumb’s governance to benefit from exchange coins, evading financial regulations. They argue that despite knowing the challenges in listing BXA Coin, Lee continued to accept payments without informing Kim about the decision not to list the coin.
Fidelity, BlackRock, and other financial firms want to list BTC and ETH ETFs, which could make it easier for investors to invest in crypto.
Fidelity became the latest giant financial firm to seek to create an ETF The SEC still needs to approve these applications for them to trade in the U.S. The regulator is mulling bitcoin ETFs, too.
ETFs could make it far easier for the average person to invest money in a crypto-linked asset. Fidelity Wants to Create an Ether ETF, Joining BlackRock in Doubling Down on Crypto Gary Gensler's SEC must now decide what to do about multiple applications for BTC and ETH ETFs
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Fidelity became the latest giant financial firm to seek to create an ETF.
The SEC still needs to approve these applications for them to trade in the U.S. The regulator is mulling bitcoin ETFs, too.
ETFs could make it far easier for the average person to invest money in a crypto-linked asset. Ledger Reveals Institutional-Grade Trading Network Money management giant Fidelity is seeking to create an exchange-traded fund that owns Ethereum's ether (ETH), according to a Friday filing, joining rival BlackRock in strengthening its crypto embrace. The Fidelity Ethereum Fund would be listed by an exchange owned by Cboe Global Markets, which posted the fling that revealed the existence of the proposed product. But first, the U.S. Securities and Exchange Commission must decide whether to approve the ether ETF, as it must for others, including one from #BlackRock, which was revealed earlier this month.
ETFs that hold BTC or ETH, the biggest cryptocurrencies, could, according to optimists, dramatically shake up the crypto market. They are generally easier to buy than crypto; a normal, conventional brokerage account gives an investor access to all manner of ETFs, which trade just like stocks and track assets ranging from the whole stock market to gold, corn, and sugar. #crypto #bitcoin