The number of firms backing Ripple (XRP) against the U.S. SEC has increased to 12, with the latest being a Wyoming-based decentralized organization VeriDAO, which filed an amicus brief on Nov. 3. According to the court filing, the SEC had brought a lawsuit against the DAO that its VERI tokens were unregistered securities on Aug….
The U.S. SEC has submitted documents of former Director William Hinman to Ripple (XRP), according to an Oct. 20 tweet from Ripple General Counsel Stuart Alderoty. Over 18 months and 6 court orders later, we finally have the Hinman docs (internal SEC emails and drafts of his infamous 2018 speech). While they remain confidential for…
Yuga Labs has seen the value of assets associated with its brand decline following news of the SEC’s investigation into whether it broke federal laws. Bored Ape, ApeCoin, others tank Bored Ape’s floor price fell 3.31% in the last 24 hours to 73 ETH ( $94,947). The blue-chip collection had shed over 6% of its…
The U.S. SEC’s enforcement staff are reportedly unhappy with Chairman Gary Gensler over his “publicity stunt” concerning the recent settlement fine paid by Kim Kardashian, Fox Business Network’s Charles Gasparino reported on Oct. 5. SCOOP (1/3): @SEC_Enforcement staffers are complaining @GaryGensler violated protocol by hyping @KimKardashian settlement, appearing on @CNBC within minutes of the case…
Famed crypto promoter Ian Balina has labeled the SEC charges against him as frivolous, saying he is “excited to take this fight public.” Excited to take this fight public. This frivolous SEC charge sets a bad precedent for the entire crypto industry. If investing in a private sale with a discount is a crime, the…
The case between the U.S. SEC and Ripple Labs could finally end after both parties filed for summary judgment. According to motions filed before the U.S. District Court of the Southern District of New York, the two parties are asking the court to give a summary judgment based on the evidence and arguments already presented. Summary…
The US Securities and Exchange Commission (SEC) guidance on crypto custody might impede banks from the industry because of the cost of implementation, Reuters reported on Sept. 16. According to the report, the SEC accounting guidelines stated that public companies holding crypto assets on behalf of their clients must account for such assets as liabilities…
The Securities and Exchange Commission (SEC) Chair Gary Gensler reiterated his belief that most crypto assets are securities in his testimony before the U.S. Senate Banking Committee on Sept. 15. According to Gensler, the offer and sales of these tokens fall under the securities laws, continuing that he has directed the Commission’s staff to work…
The Chairman of the SEC said he would support Congress handing more power to the CFTC to regulate cryptocurrencies. Speaking at an industry conference on Thursday, Gary Gensler said he was looking forward to giving the Commodity Futures Trading Commission greater authority over the crypto market “as long as it doesn’t take away power from…
US Securities and Exchange Commission (SEC) and the Commodity Futures Trading Commission (CFTC) have jointly proposed an amendment to Form PF. The proposal seeks to distinguish between “digital assets” and “cash and cash equivalents” for large hedge funds to ensure more accurate reporting. According to the proposal, a new sub-asset class should be created for…