The CYDigital Blog
332 views | +1 today
Follow
Your new post is loading...
Scooped by CYDigital/marteq.io
Scoop.it!

New SEC lawsuit could decide the fate of dozens of blockchain projects - Ars Technica

New SEC lawsuit could decide the fate of dozens of blockchain projects - Ars Technica | The CYDigital Blog | Scoop.it

"The Securities and Exchange Commission has filed a lawsuit against social media company Kik over its creation and sale of a cryptocurrency called Kin back in 2017. Kik is vowing to fight the lawsuit, setting the stage for a landmark ruling on how securities laws apply to the sale of digital tokens online.

The case is important because the Kin sale was one of thousands of so-called initial coin offerings held in the last three years. The Kin sale generated almost $100 million in revenue, and coin offerings have collectively raised billions of dollars. Most organizers did not file the kind of disclosure forms that the law requires for conventional stock sales.

The big question is whether the law required them to do so. We don't yet have a clear answer, largely because the SEC has been slow to address the issue."

CYDigital/marteq.io's insight:

Don't hold your breath: this may take years. In essence, it's a challenge to Howey, and will probably take it to the Supreme Court.

 

Curated by CYDigital: enabling Consumers to capture, share and profit from their data. https://cyd.digital #zeropartydata #dataprivacy

more...
No comment yet.
Scooped by CYDigital/marteq.io
Scoop.it!

How Google, Facebook, Amazon and Apple faced EU tech antitrust rules - CNBC

How Google, Facebook, Amazon and Apple faced EU tech antitrust rules - CNBC | The CYDigital Blog | Scoop.it
Europe has made its name as the top cop of tech regulation.

The European Commission, the executive arm of the European Union, has imposed a combined $9.5 billion in antitrust fines against Google since 2017, and its boss hints Amazon and Apple might be next in line.

Facebook, meanwhile, has been subject to probes from competition and data protection authorities across the EU since the region’s strict new set of privacy rules called the General Data Protection Regulation (GDPR) went into effect last year.

As U.S. regulators and lawmakers step up their efforts to reign in big tech companies, Europe offers some valuable lessons.
CYDigital/marteq.io's insight:

The EU's strategy may or may not be a template for the US Department of Justice, but the reaction of the behemoths are duly noted.

 

Curated by CYDigital: enabling Consumers to capture, share and profit from their data. https://cyd.digital #zeropartydata #dataprivacy

more...
No comment yet.