Bitcoin

Bitcoin Daily: Coinbase CEO Pledges To Donate Fortune; SEC To Investigate Crypto Next Year

Alan Konevsky is the new chief legal officer for tZERO. The former senior vice president at Mastercard will oversee tZERO’s legal, regulatory, public policy and compliance functions.

In addition, he will work with investors, clients and regulators on the company’s Security Token Offering, advisory services business and its partnership with BOX Digital Markets to launch the first SEC-regulated exchange for trading security tokens.

“Given Alan’s vast legal experience, we believe that his insight will be a valuable asset for the problem solving required to create the next generation of capital markets,” tZERO CEO Saum Noursalehi said in a press release.

In other news, Coinbase CEO Brian Armstrong has officially signed the Giving Pledge, vowing to donate the majority of his wealth to charity.

The Giving Pledge, which was started by Warren Buffett and Bill Gates in 2010, has also been signed by Elon Musk, Ray Dalio, Bill Ackman and Michael Bloomberg, along with more than 150 others.

“Once a certain level of wealth is reached, there is little additional utility from spending more on yourself. One’s ambition begins to move outwards,” Armstrong said in a blog post. “I’ve always admired founders and leaders whose ambition to improve the world supersedes any goal related to personal wealth.”

And the U.S. Securities and Exchange Commission (SEC) has announced that it will boost its regulatory checks on the crypto market next year, making it one of its six priorities after the agency’s inspectors identified several problematic areas during its investigations this year.

“In particular, through high level inquiries, OCIE [Office of Compliance Inspections and Examinations] will take steps to identify market participants offering, selling, trading, and managing these products or considering or actively seeking to offer these products and then assess the extent of their activities,” according to the SEC’s compliance examination program for 2019. “For firms actively engaged in the digital asset market, OCIE will conduct examinations focused on, among other things, portfolio management of digital assets, trading, safety of client funds and assets, pricing of client portfolios, compliance, and internal controls.”

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