DeFi News Today TheBitTimes.com

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...

According to CoinGecko, nearly $85 billion worth of crypto falls under the category of “alleged SEC securities.” CoinGecko launched a new index tracking the biggest crypto tokens viewed as likely securities by the United States Securities and Exchange Commission (SEC).  The ‘Top Alleged Securities Coins’ page sorts the selection of crypto assets by market capitalization, placing Binance Coin (BNB) at the top of the list — followed by Cardano (ADA), Solana (SOL) and TRON (TRX). The top 10 alleged securities tokens by market cap. Source: CoinGecko A CoinGecko spokesperson told Cointelegraph that the index was launched in the first week of August and was constructed by compiling a selection of the most notable tokens which had been deemed securities by the SEC in past lawsuits. In its most recent lawsuits against crypto exchange giants Coinbase and Binance, the financial regulator brought the number of tokens it views as securities up a grand total of 68 — while CoinGecko only lists...