David Hirsch, head of the U.S. Securities and Exchange Commission’s (SEC) Crypto Assets and Cyber Unit, has said the regulator is set to keep on chasing down cryptocurrency exchanges and decentralized finance (DeFi) projects it sees as violating securities laws.

Japan’s largest investment bank, Nomura, with a portfolio of over $500 billion in assets under management, has marked another strategic move into the digital asset market. Through its subsidiary, Laser Digital Asset Management, Nomura has launched a Bitcoin Adoption Fund for institutional investors.

The managers of the collapsed cryptocurrency exchange FTX have sued the parents of the platform’s co-founder and former CEO Sam Bankman-Fried in a bid to “recover millions of dollars in fraudulently transferred and misappropriated funds.”

Top stories in the Crypto Roundup today:

• SEC Crypto Chief Warns More Charges Against Crypto Exchanges, DeFi Projects
• Nomura Launches Bitcoin Adoption Fund for Institutional Investors
• FTX Co-Founder’s Parents Sued for Fraud and Misappropriation of Funds

SEC Crypto Chief Warns More Charges Against Crypto Exchanges, DeFi Projects

David Hirsch, head of the U.S. Securities and Exchange Commission’s (SEC) Crypto Assets and Cyber Unit, has said the regulator is set to keep on chasing down cryptocurrency exchanges and decentralized finance (DeFi) projects it sees as violating securities laws.

Speaking at the Securities Enforcement Forum Central in Chicago, Hirsch noted that his unit, which has been litigating at an unusual pace for the SEC, is aware of and investigating other businesses believed to be operating in the same vein as major cryptocurrency exchanges Binance and Coinbase.

Earlier this year, the SEC filed lawsuits against both Binance and Coinbase, accusing both platforms of violating securities laws. Per Hirsch, the crypto industry’s compliance breeches “hold true well beyond any two entities.”

While the SEC is embroiled in a number of legal battles in federal courts over its actions against cryptocurrency businesses, Hirsch said the regulator is going to “continue to bring those charges,” and has a number of other businesses on its radar.

Per his words, the SEC’s interest in the cryptocurrency space goes beyond high-profile cryptocurrency exchanges, while DeFi projects won’t escape the enforcement division’s attention as well.

Nomura Launches Bitcoin Adoption Fund for Institutional Investors

Japan’s largest investment bank, Nomura, with a portfolio of over $500 billion in assets under management, has marked another strategic move into the digital asset market. Through its subsidiary, Laser Digital Asset Management, Nomurahas launched a Bitcoin Adoption Fund for institutional investors.

The Bitcoin-based fund is set to be the first in a range of cryptocurrency investment solutions that the firm is planning on introducing. This first move will offer direct exposure to BTC to the firm’s institutional investors.

The Bitcoin Adoption Fund is designed to offer investors long-term exposure to the flagship cryptocurrency, with the Japanese financial behemoth choosing Komainu as its regulated custody partner.

The fund stands as a portion of the Laser Digital Funds Segregated Portfolio Company, recognized and registered as a mutual fund compliant with the directives of the Cayman Islands Regulatory Authority.

FTX Co-Founder’s Parents Sued for Fraud and Misappropriation of Funds

The managers of the collapsed cryptocurrency exchange FTX have sued the parents of the platform’s co-founder and former CEO Sam Bankman-Fried in a bid to “recover millions of dollars in fraudulently transferred and misappropriated funds.”

According to recent court documents, Allan Joseph Bankman and Barbara Fried, both esteemed figures in the academic realm and Stanford Law School veterans, allegedly leveraged their intimate association and sway within FTX to amass “millions of dollars.”

While Bankman is an expert when it comes to the domain of taxation, Fried’s specialty is in the field of ethics. The filing noted that despite “knowing or blatantly ignoring” that FTX was insolvent, the duo discussed with Bankman-Fried the transfer of $10 million in cash and a $16.4 million luxury property in the Bahamas for themselves.

State of the Crypto by Top Tier Exchange Volume

Build your project with CoinDesk Data

Terms | Privacy

13 Charles II St, SW1Y 4QU

London, UK

This email may include advertisements by third parties. None of the advertised or promoted products and services have been verified or approved by us and this email is not any endorsement by us of the third party or of their products or services.