Tag Archives: sec

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Grayscale stated that the SEC’s application of its “significant market test” is deeply flawed and does not protect investors against potential fraud and manipulation in the underlying BTC markets. The SEC is notorious for turning down dozens of spot Bitcoin ETF applications over the past several years from major players including WisdomTree and Ark21Shares. Grayscale, for one, has taken the legal route to resolve the matter. It has argued that the regulator acted outside its...

At an event for DC Fintech Week on Tuesday, the CEO of Ripple Labs, Brad Garlinghouse, noted that he expects the court to give its verdict on the case in the first half of 2023.  “I think we’ll have an answer in the first half of next year. Whether that’s the first quarter or second quarter, we shall see,” he said.  The Lawsuit Recall that the SEC officially sued Ripple in December 2020 over an alleged violation of securities laws. The regulator claims that the blockchain...

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XRP has been one of the best performers in an otherwise stagnant and even declining cryptocurrency market where most of the coins are charting declines. The cryptocurrency is up over 20% measured from the lows on September 28th and the price it’s trading at the time of this writing, as seen in the chart below. Source: Binance via TradingViewThe SEC Lawsuit Going Well for Ripple One of the biggest variables in XRP’s future price performance lies within the outcome of the...

Ripple continues to be embroiled in a legal tussle with the SEC, and certain community members have claimed significant corruption on the agency’s side for targeting the blockchain firm. Cardano founder Charles Hoskinson has cleared his stance on the matter and backed Ripple by saying that layer-1 protocols aren’t securities. The XRP Army, however, isn’t happy with Hoskinson’s take on the debate surrounding corruption inside the SEC. Fragment the Space XRP proponents believe...

It looks like there are plenty of banks out there that want to thin the line between themselves and crypto. They have digital currency plans in the mix and they’re ready to act on them, but the Securities and Exchange Commission (SEC) is allegedly getting in the way. The SEC Is Back to Its Old Tricks The SEC has recently released new accounting guidance that has made crypto development much harder on the side of traditional finance. According to the new rules, any bank...

Gary Gensler made a big announcement on October 3, saying the US media personality and reality star Kim Kardashian had settled with the agency in a fraudulent crypto promotional case. However, a Fox reporter now claimed that the SEC Chair had violated protocol by overhyping the settlement for his personal political agenda. Gensler Did it Wrongly? CryptoPotato reported on October 3 that Kardashian had agreed to pay $1.26 million in penalties, disgorgement, and interest for...

The United States Securities and Exchange Commission (SEC) imposing a penalty of $1.26 million on reality star Kim Kardashian carries an important message about the regulator’s conviction on cracking down on sketchier corners of the cryptocurrency world. While many in the community acted in disbelief, others felt Kardashian was an easy target and that the SEC should have targeted the creators of EMAX instead. Peter Schiff, on the other hand, had a rather bizarre take on the...

In a new report, the Financial Stability Oversight Council (FSOC), a regulatory panel comprising leading financial regulators, identified areas in crypto regulation with: limited oversight of the spot market for tokens that are not securities; opportunities for regulatory arbitrage, or benefit favorable rules; if crypto firms should be allowed to integrate multiple services traditionally offered by intermediaries, such as broker-dealers and clearing houses. More Power to Top...