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The U.S. Securities and Exchange Commission (SEC) has slapped Thor Technologies and its CEO, David Chin, with a $1.05m fine for promoting securities without the required license . The SEC found Thor Technologies and its CEO, David Chin, guilty in absentia of promoting securities without a license . The regulator fined the company $1.05m. However, such a decision is made if the defendant does not provide the necessary documents on time or ignores the hearing. According to the regulator, from March to May 2018, the company distributed project tokens to clients. The total amount raised was $2.6m. The SEC believes Thor Technologies and Chin promoted these assets by positioning them as investments. This makes them securities under the Howey test. “The court granted default judgment for the SEC on all charges. The court permanently enjoined Thor and Chin from violating the securities registration provisions of Sections 5(a) and 5(c) of the Securities Act of 1933 and from partici...

Join Our Telegram channel to stay up to date on breaking news coverage After Binance left Cyprus, Bybit strengthened the island’s cryptocurrency ecosystem by obtaining an operating permit. Bybit, a cryptocurrency exchange, said that it now has a license to operate in Cyprus as an exchange and custody business. The third-most popular cryptocurrency exchange on the planet will start providing trading between crypto and fiat currency pairs as well as financial services pertaining to cryptocurrencies. Cyprus is becoming a more popular crypto hub in the Mediterranean, in part thanks to government initiatives. In 2022, Kyriacos Kokkinos, who was the president’s deputy minister for research at the time, predicted that the nation will develop into a center for new disruptive technologies like blockchain. A decade has passed since a bank run on Cypriot institutions caused a 600% price spike for Bitcoin, and the Cypriot central bank has previously issued warnings regarding cr...

52 crypto kiosks were seized in the investigation led by the U.S. Secret Service's Cyber Fraud and Money Laundering Task Force. A Bitcoin (BTC) technology firm and its executives have been indicted for allegedly operating un license d crypto kiosk s in Ohio which knowingly benefited from victims of crypto currency scams . S&P Solutions, which operated as Bitcoin of America, along with three of its executives are facing charges of money laundering, conspiracy, and other crimes connected to the operation of more than 50 unlicensed crypto kiosks in the state. A Cuyahoga County grand jury returned the indictment on Mar. 1 against the firm, the owner and founder, Sonny Meraban, manager Reza Meraban, and company attorney William Suriano. The trio was arrested last week and search warrants were executed on their residences in Florida and Illinois. 3 men, 1 business charged in cryptocurrency scam; avoid Bitcoin of America ATMs, Cuyahoga Co. prosecutor says https://t.co/LaR1L2E1yH — ...