US lawmaker reports AERO, GRT and VELO investments in 2024

August 27, 2024 Coin Telegraph

Abra settles with SEC over unregistered securities charges

August 26, 2024 Coin Telegraph

Abra

The SEC announced securities charges against the lending platform over its Abra Earn service but also said the firm had settled with pending civil penalties and an injunction.

The United States Securities and Exchange Commission announced that cryptocurrency platform Abra had agreed to a settlement over allegations the firm did not register the offers and sales of its lending product.

In an Aug. 26 notice, the regulator said Plutus Lending, doing business as Abra, “without admitting or denying the SEC’s allegations,” had agreed to pay civil penalties to be determined by a court and an injunction prohibiting the firm from violating securities laws. The SEC filed charges against the lending platform for failing to register the offers and sales of Abra Earn and operating as an unregistered investment company.

“Abra allegedly sold its own securities while skirting applicable Investment Company Act provisions that provide a number of important protections to investors, including minimizing conflicts of interest,” said SEC Enforcement Associate Director Stacy Bogert. “This matter reflects yet again, that in conducting enforcement investigations, we are governed by economic realities, not cosmetic labels.”

Kamala Harris campaign may focus on highlighting innovation over crypto

August 22, 2024 Coin Telegraph

Coin Telegraph

Many in the industry don’t expect the Vice President to mention digital assets at the DNC, but her views on technology and regulation could signal a shift from Biden-era policies.

On Aug. 21, reports broke that an aide to Kamala Harris’ campaign said the Democratic nominee would “support policies that ensure that emerging technologies and that sort of industry can continue to grow,” referring to the crypto industry.

Though seemingly light on substantive policy, the reported move could signal a shift from the Harris campaign, which has previously stayed silent on digital assets. The aide who spoke to Bloomberg at the Democratic National Convention (DNC) was Brian Nelson, who left his position as the Department of the Treasury’s Under Secretary for Terrorism and Financial Intelligence to join the campaign.

Though the comments did not come directly from Vice President Harris, many advocates took to social media to speculate whether the statement could suggest her campaign — 31 days old as of Aug. 21 — would be more proactive in addressing concerns related to crypto and blockchain before the November election. Though Republican nominee Donald Trump previously called Bitcoin (BTC) a “scam” and “based on thin air,” in 2024, he moved to personally claim he would defend BTC miners, denounce central bank digital currencies, and spoke at the Bitcoin 2024 conference.