ChainCatcher News, the U.S. Securities and Exchange Commission (SEC) stated in a court filing that the SEC requests to amend its motion regarding "third-party crypto asset securities" in the lawsuit against Binance, and the court currently does not need to rule on whether the allegations regarding these tokens are sufficient.The defendants in the case, Binance Holdings Limited, BAM Trading Services Inc., BAM Management US Holdings Inc., and Binance founder Changpeng Zhao, must submit their responses agreeing or opposing the amendment motion within 30 days. If the defendants do not oppose, the U.S. Securities and Exchange Commission will begin further litigation proceedings.

ChainCatcher news, cryptocurrency exchange ShapeShift has reached a settlement with the U.S. Securities and Exchange Commission (SEC) regarding allegations of selling crypto securities. The SEC stated that it will accept ShapeShift's settlement offer, which includes a $275,000 fine and an agreement for the company to cease violating the Securities Exchange Act. Previously, the SEC had issued a cease-and-desist order against ShapeShift, prohibiting it from operating as an unregistered dealer for crypto securities in the U.S.

ChainCatcher News, the U.S. Securities and Exchange Commission (SEC) has rejected the petition for rulemaking submitted on behalf of Coinbase Global, Inc. It stated:First, existing laws and regulations apply to the cryptocurrency securities market.Second, the U.S. Securities and Exchange Commission also addresses issues in the cryptocurrency securities market through rulemaking.Third, it is very important to maintain the Commission's discretion when establishing its own rulemaking priorities.

Chain Catcher News, the U.S. Securities and Exchange Commission (SEC) announced that it is suing Kim Kardashian for promoting EthereumMax crypto securities on social media without disclosing the details of the promotional payments she received. Kim Kardashian stated that she agreed to settle and will pay $1.26 million (which includes $260,000 in advertising fees and a $1 million penalty) and will cooperate with the SEC's ongoing investigation.SEC Chairman Gary Gensler commented that Ms. Kardashian's case serves as a reminder to celebrities and others that the law requires them to disclose the time and compensation for promoting securities investments to the public. (Source link)

Chain Catcher News, South Korea's top financial regulator plans to establish a separate digital securities market similar to KOSPI (Korea Composite Stock Price Index) to promote the institutionalization and adoption of cryptocurrencies. The plan is for the Korea Exchange (KRX) to operate the digital securities market and for securities firms to act as agents for trading. The proposal requires the Korea Securities Depository to review and register the list of security tokens issued by issuers or applied for through brokerage firms. The Depository will also manage the total amount of listed tokens.For the purpose of protecting investors, tokens will be allocated in the same manner as existing securities. It will also allow for limited-scale over-the-counter trading in the early stages of the market. Previously, President Yoon Suk-yeol's government announced plans to promote the allowance of Initial Coin Offerings (ICO) and Security Token Offerings (STO). (Source link)