{"id":1149,"date":"2018-02-20T17:47:54","date_gmt":"2018-02-20T22:47:54","guid":{"rendered":"https:\/\/www.silvermillerlaw.com\/?post_type=news&p=1149"},"modified":"2023-06-12T10:43:05","modified_gmt":"2023-06-12T10:43:05","slug":"us-securities-regulator-rejects-bitconnect-records-request","status":"publish","type":"news_posts","link":"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/us-securities-regulator-rejects-bitconnect-records-request\/","title":{"rendered":"US Securities Regulator Rejects BitConnect Records Request"},"content":{"rendered":"

\n“As investors in cryptocurrency have begun to understand, where you invest and store your money is critical in this space. “Here today, gone tomorrow” is a scary mantra, whether it be at exchanges like BitConnect, BitGrail, Kraken, or CoinCheck. Customers need to feel secure in their exchange of choice.”\n<\/p><\/blockquote>\n

The U.S. Securities and Exchange Commission (SEC) has denied a Freedom of Information Request (FOIA) regarding the BitConnect cryptocurrency investment scheme, citing an exemption usually applied to records tied to law enforcement.<\/p>\n

The FOIA was sent by Florida lawyer David Silver, who though the law firm Silver Miller is representing clients in\u00a0one of a number of lawsuits<\/a>\u00a0filed against BitConnect in recent weeks. Silver had\u00a0previously sought<\/a>\u00a0a FOIA in relation to the controversial blockchain project Tezos, only to receive an identical rejection letter on Feb. 6.<\/p>\n

As is the case with such letters, the SEC did not confirm or deny the existence of an investigation, and the letter itself is not proof that an investigation. That said, Silver – who provided a copy of the newest letter to CoinDesk – said that he had been contacted by investigators from the Commodity Futures Trading Commission (CFTC) regarding BitConnect, interpreting that as evidence that an inquiry is underway at the U.S. commodities trade regulator.<\/p>\n

A representative for the CFTC did not immediately respond to a request for comment.<\/p>\n

\u00a0<\/div>\n

“The SEC and CFTC’s decision to investigate BitConnect is far from surprising. The thousands of people who have contacted me over the last month have lost collectively over one billion dollars,” Silver told CoinDesk in an email, adding:<\/p>\n

\n“As investors in cryptocurrency have begun to understand, where you invest and store your money is critical in this space. “Here today, gone tomorrow” is a scary mantra, whether it be at exchanges like BitConnect, BitGrail, Kraken, or CoinCheck. Customers need to feel secure in their exchange of choice.”\n<\/p><\/blockquote>\n

Read the Full Article<\/p>\n

US Securities Regulator Rejects BitConnect Records Request<\/a><\/p>\n","protected":false},"featured_media":1769,"template":"","meta":{"_acf_changed":false,"_links_to":"","_links_to_target":""},"news_categories":[],"class_list":["post-1149","news_posts","type-news_posts","status-publish","has-post-thumbnail","hentry"],"acf":[],"yoast_head":"\nUS Securities Regulator Rejects BitConnect Records Request - SilverMillerLaw.com<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.silvermillerlaw.com\/press\/in-the-news\/us-securities-regulator-rejects-bitconnect-records-request\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"US Securities Regulator Rejects BitConnect Records Request - SilverMillerLaw.com\" \/>\n<meta property=\"og:description\" content=\""As investors in cryptocurrency have begun to understand, where you invest and store your money is critical in this space. 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