Bitcoin SV

<p><img src="https://media.licdn.com/dms/image/C4D0BAQGBc3KzyqgZpQ/company-logo_100_100/0/1630682957285/bsvblockchain_logo?e&#61;1707350400&amp;v&#61;beta&amp;t&#61;XVMDovg-EDpfsm3R8zy3z8pTamF32pEjTtZMlHH8Bz0" /></p><h2 id="header-0"><a href="https://www.linkedin.com/company/bsvblockchain/" rel="noopener noreferrer nofollow">BSV Blockchain</a></h2><p>November 3, 2023</p><p>The SEC charged SafeMoon LLC and its executives for a fraudulent scheme involving the unregistered sale of SafeMoon crypto, leading to the arrests of the CEO and CTO. While PayPal disclosed in its quarterly report that it received an SEC subpoena related to its PayPal USD stablecoin.</p><p>The BSV Blockchain Gazette is presented by Bryan Daugherty, Global Policy Director for the BSV Blockchain Association, featuring:</p><ul><li><a href="https://www.linkedin.com/company/secgov/" rel="noopener noreferrer nofollow">Securities and Exchange Commission</a></li><li><a href="https://www.linkedin.com/company/safemoon/" rel="noopener noreferrer nofollow">SafeMoon</a> LLC’s Kyle Nagy, CEO <a href="https://www.linkedin.com/in/john-karony/" rel="noopener noreferrer nofollow">John Karony</a>, CTO Thomas Smith</li><li><a href="https://www.linkedin.com/company/paypal/" rel="noopener noreferrer nofollow">PayPal</a></li><li><a href="https://www.linkedin.com/in/andy-barr-7b6a534/" rel="noopener noreferrer nofollow">Rep. Andy Barr</a> (R-KY)</li><li>Sen. Cynthia Lummis (R-WY)</li><li><a href="https://www.linkedin.com/company/terraform-labs/" rel="noopener noreferrer nofollow">Terraform Labs</a>’ Co-Founder, <a href="https://www.linkedin.com/in/do-kwon/" rel="noopener noreferrer nofollow">Do Kwon</a></li></ul><h3 id="rep-andy-barr-r-ky-commends-gao-and-criticizes-sec-39-s-34-regulatory-overreach-34-in-sab-121-report">Rep. Andy Barr (R-KY) Commends GAO and Criticizes SEC&#39;s &#34;Regulatory Overreach&#34; in SAB 121 Report</h3><p>Rep. Andy Barr (R-KY) released a statement regarding the GAO’s report on SEC Staff Accounting Bulletin 121, praising the GAO and calling SAB 121 an example of “regulatory overreach” by the SEC.</p><h3 id="sen-cynthia-lummis-r-wy-highlights-crypto-mining-as-potential-boost-to-domestic-energy">Sen. Cynthia Lummis (R-WY) Highlights Crypto Mining as Potential Boost to Domestic Energy</h3><p>Sen. Cynthia Lummis (R-WY) tweeted about the potential for crypto mining to boost domestic energy production.</p><h3 id="sec-charges-safemoon-llc-and-executives-for-fraudulent-crypto-scheme-doj-arrests-ceo-and-cto">SEC Charges SafeMoon LLC and Executives for Fraudulent Crypto Scheme; DOJ Arrests CEO and CTO</h3><p>The SEC charged SafeMoon LLC and creator Kyle Nagy, CEO John Karony, and Chief Technology Officer Thomas Smith for perpetrating a fraudulent scheme through the unregistered sale of the crypto asset security SafeMoon. The Justice Department also arrested Karony and Smith, and charged all three executives with conspiracy to commit securities fraud, wire fraud, and money laundering.</p><h3 id="paypal-reveals-sec-subpoena-in-quarterly-report-regarding-paypal-usd-stablecoin">PayPal Reveals SEC Subpoena in Quarterly Report Regarding PayPal USD Stablecoin</h3><p>PayPal stated in its quarterly report that the company received a subpoena from the SEC relating to its PayPal USD stablecoin.</p><h3 id="terraform-labs-and-co-founder-do-kwon-seek-summary-judgment-to-dismiss-sec-case">Terraform Labs and Co-Founder Do Kwon Seek Summary Judgment to Dismiss SEC Case</h3><p>Terraform Labs and its co-founder, Do Kwon, filed a summary judgment motion requesting that the US District Court for the Southern District of New York throw out the SEC’s case against them.</p>

PayPal Faces SEC Subpoena for PayPal USD Stablecoin

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