Ripple’s Tenacity Against the SEC’s Ongoing Lawsuit
Ripple's Persistence in the Face of SEC's Lawsuit Challenge In a legal battle spanning nearly three years, Ripple finds itself at the center of allegations claiming that the company and its co-founders violated securities regulations by selling approximately $1.3 billion worth of their native cry ...
Gemini and Genesis Seek Dismissal of SEC Lawsuit Against Gemini Earn
Crypto exchange Gemini and cryptocurrency lender Genesis Global Capital have asked the court to dismiss the U.S. Securities and Exchange Commission's (SEC) permanent injunction against Gemini Earn. Gemini and Genesis argue that the Gemini Earn program should not be classi ...
Philippine Securities and Exchange Commission Warns Gemini Cryptocurrency Exchange for Operating Without Registration
The Philippine Securities and Exchange Commission issued an official warning to the cryptocurrency exchange Gemini, which serves local customers without the mandatory registration in the country. The regulator announced that Gemini "operates without the necessary license ...
Founder of Heisenberg Capital Agrees with SEC Chairman on Crypto-Assets as Securities, Bitcoin Advocate Supports Ruling
Founder of Heisenberg Capital agreed with the SEC chairman that all crypto-assets except bitcoin should be considered securities. Bitcoin advocate Max Keiser sided with Gary Gensler, saying that all altcoins, including XRP and ETH, are securities. The businessman noted t ...
SEC Chairman Gensler Highlights Compliance Issues in the Cryptocurrency Market
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler said that rules for token issuers and cryptocurrency exchanges already exist, but they are fundamentally unwilling to comply. While speaking at a Federal Reserve Bank of Atlanta conference, Gary Gensler was ...
Court Denies SEC’s Motion to Keep William Hinman’s Speech Drafts Confidential in Ripple Case
The court denied the SEC's motion to keep the drafts of William Hinman's speech on air status confidential. Judge Analisa Torres ruled that materials related to former SEC director of corporate finance William Hinman's June 2018 speech cannot be excluded from public access. ...
Ripple vs. SEC: Legal Battle Over Cryptocurrency Classification
It's about SEC member Hinman's documents He didn't recognize cryptocurrencies as securities a couple of years ago And so Ripple and other cryptocurrency companies aren't breaking the law A federal judge denied the SEC's motion to shut down Hinman's do ...
Secret Memorandum Recommends Democratic Recognition of Crypto-Assets as Securities
Media obtained a secret memorandum recommending that Democratic members of the Financial Services Committee vote to recognize all crypto-assets as securities. The memo outlines key messages Democratic lawmakers should adhere to during a joint bipartisan hearing in the House ...
Morgan Mac Lawyers Predict Coinbase Will Not Delist Bitcoin and Ether Despite Regulatory Pressure
According to Morgan Mac Lawyers, Coinbase is unlikely to delist bitcoin (BTC) and ether (ETH) even if regulators increase pressure on the exchange, given that these two cryptocurrencies account for 65% of its trading volume. Bill Morgan, a lawyer representing the San Francisco-based exchange, sta ...
Ripple Faces Class-Action Lawsuit in California Federal Court for Selling XRP as Unregistered Security
On April 26, a class-action lawsuit against Ripple Labs for allegedly selling XRP as an unregistered security will be heard in a federal court in California. The plaintiffs, represented by Bradley Sostak, aim to demonstrate that all individuals who bought and sold XRP at a loss, or still hold it, ...
SEC Chairman Gensler Says Most Crypto Assets Are Not Securities
Gensler told his students this during a course at MIT The current chairman of the SEC categorized three-quarters of the crypto-asset market as commodities and fiat In 2018, Professor Gary Gensler taught a course for MIT students called "Blockchain and Money". ...
South Korean Central Bank to Strengthen Control Over Cryptocurrency Industry
The South Korean Central Bank is taking steps to increase its oversight of virtual asset service providers (VASPs) and cryptocurrency issuers. To better monitor these entities, the Bank of Korea will now request transaction data from cryptocurrency exchanges, a move that has been approved by the ...
Former SEC Chairman Jay Clayton: Courts Ineffective for Determining Crypto Asset Securities
In a recent interview with CNBC, Jay Clayton, the former Chairman of the US Securities and Exchange Commission (SEC), argued that the courts are not an appropriate forum to determine whether crypto assets should be considered securities or not. He noted that any security today may not be consider ...
Stellar CEO Urges US Lawmakers to Regulate Stablecoins to Strengthen National Currency
According to an interview with Bloomberg, the CEO of the Stellar Development Foundation, Denelle Dixon, believes that US lawmakers need to develop regulation for stablecoins tied to the US dollar. This would help strengthen the value of the national currency, as US financial regulators are increa ...
Winklevoss brothers loan Gemini $100 million after failing to secure outside funding
According to anonymous sources cited by Bloomberg, Cameron and Tyler Winklevoss injected $100 million into their company, Gemini, after being unsuccessful in obtaining external funding. The significance of this amount lies in the fact that it corresponds to the funds that Gemini committed to rest ...
SEC Chairman States No Plans for New Crypto Asset Rules: Gary Gensler
In a recent interview, the chairman of the US Securities and Exchange Commission (SEC), Gary Gensler, clarified that the agency has no plans to introduce new rules for evaluating cryptocurrencies. Gensler emphasized that, aside from Bitcoin, the SEC considers all other crypto assets to be securit ...
Kenyan legislators propose bill to regulate cryptocurrencies as securities
Kenyan legislators have proposed a bill that would classify cryptocurrencies as securities and require issuers to adhere to certain regulations. Economist and blogger Amboko Julians shared screenshots of the draft bill, which indicates that the Kenya Capital Markets Authority (CMA) will oversee t ...
Binance Faces Another $1 Billion Lawsuit Over Unregistered Crypto Securities Trading
The US Commodity Futures Trading Commission (CFTC) recently filed a lawsuit against Binance, a popular cryptocurrency exchange, and its founder, Changpeng Zhao. In a new development, another lawsuit has emerged, this time in the amount of $1 billion. Filed by law firms Moscowitz and Boies Schi ...
New York University Professor Believes Ethereum Could Be Classified as a Security by SEC
According to a New York University professor, the crypto industry could be on the brink of significant changes due to the potential recognition of the second largest cryptocurrency by market capitalization as a security by the US Securities and Exchange Commission (SEC). Nouriel Roubini shares SE ...
SEC Chairman Gensler calls for $2.4B to Prosecute Unregistered Crypto Companies
Gary Gensler, the chairman of the US Securities and Exchange Commission (SEC), has urged the government to provide the agency with $2.4 billion in funding to help tackle the rise of unregistered crypto companies. Addressing the House Financial Services Subcommittee, Gensler explained that the all ...
Coinbase CEO Urges Crypto Users to Vote for Supporters Amid SEC Threats
Coinbase CEO, Brian Armstrong, is encouraging users of the popular cryptocurrency exchange to vote for political candidates who support the crypto industry. This comes as the US Securities and Exchange Commission (SEC) has sent a notice to Coinbase that it may sue them for selling unregistered se ...
SEC Files Lawsuit Against Tron Founder Justin Sun and His Companies for Unregistered Sale of Cryptocurrency Securities
The SEC has filed a lawsuit against Justin Sun, founder of the Tron project, and his companies for the alleged unregistered sale of securities in the form of cryptocurrencies. The SEC claims that TRX coins and BTT tokens are securities and that Sun engaged in market manipulation to stimulate publ ...
Ripple’s XRP Surges to Highest Value Since 2022 Amid SEC Lawsuit Settlement Prospects
The price of Ripple's XRP has surged to $0.49 per digital coin, marking its highest value since November 2022. This sudden growth is attributed to the increased likelihood of Ripple settling the SEC lawsuit against it. Interestingly, this chance came about in a third-party case involving the bank ...
SEC Chairman Gary Gensler Considers PoS-based Cryptocurrencies as Securities
SEC Chairman Gary Gensler recently emphasized the need for regulation of cryptocurrencies utilizing the Proof-of-Stake (PoS) consensus method, arguing that they should be treated as securities. During a public SEC meeting, Gensler pointed out that PoS-based crypto assets are often promoted on soc ...
Coinbase denies insider trading allegations, files motion to dismiss criminal case
Coinbase's management has submitted a unique private opinion to the court in regards to the case involving the former exchange manager. They deny any criminal wrongdoing and have requested a review of the decision. The Seattle District Court received a motion from Coinbase to dismiss the criminal ...
New York Attorney General Sues KuCoin Cryptocurrency Exchange Over Unregistered Trading Activity
The KuCoin cryptocurrency exchange has been sued by the New York Attorney General's Office for failing to register in the state, with the prosecutor referring to ETH, LUNA and UST as securities. The Attorney General, Letitia James, filed a lawsuit in the New York Supreme Court, alleging that loca ...
CFTC Chairman Calls for Regulation of Ethereum and Stablecoins as Commodities
Rostin Behnam, the chairman of the US Commodity Futures Trading Commission (CFTC), has expressed his belief that Ethereum and stablecoins should fall under the purview of the agency's regulation, as they can be categorized as commodities. Behnam's comments came during a recent Senate meeting on a ...
SEC Chairman’s Statement on Cryptocurrencies Sparks Debate in Crypto Community
In a recent speech, Gary Gensler, the chairman of the US Securities and Exchange Commission, stated that all cryptocurrencies, with the exception of the historical first, should be classified as securities. This has caused a divide within the cryptocurrency community, with some bitcoin maximalists a ...
US SEC Chairman Gary Gensler Says All Cryptocurrencies Except Bitcoin Are Securities
US Securities and Exchange Commission (SEC) Chairman Gary Gensler recently discussed the regulation of the cryptocurrency industry in an interview with New York Magazine. According to Gensler, all cryptocurrencies except Bitcoin are considered securities and fall within the SEC's jurisdiction. He ...
Financial Stability Board to Prepare Standards for Regulating Cryptocurrencies by July
In an effort to monitor the global financial system and advise G20 member countries, the Financial Stability Board (FSB) has revealed its intention to prepare standards for regulating cryptocurrencies by July. Klass Knot, the Chairman of the FSB, has notified G20 finance ministers and central ban ...
US SEC seeks to broaden definition of securities, according to Crypto-law Founder
The CEO of Crypto-law has expressed concerns that the US Securities and Exchange Commission (SEC) is seeking to expand the definition of securities, a move he describes as thoughtful yet dangerous. John Deaton discussed recent SEC initiatives in the cryptocurrency industry in response to a questi ...
Former NBA Player Fined $1.4 Million for Mishandling EMAX Tokens on Social Media
Paul Pierce, a former NBA player, has pleaded guilty and agreed to pay a hefty fine of $1.4 million for allegedly mishandling EMAX tokens on social media, according to the US Securities and Exchange Commission (SEC). The SEC accused Pierce of promoting EthereumMax (EMAX) tokens on Twitter without ...