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SEC Considering 8-10 Spot Bitcoin ETF Applications, Says Chair Gary Gensler
28.10.2023
The U.S. Securities and Exchange Commission (SEC) is currently considering between eight and 10 bitcoin exchange-traded fund (ETF) applications, according to SEC Chairman Gary Gensler. He insisted that “the vast majority of crypto assets likely meet the investment contract test, making them...
Biggest Movers: XRP Surges as SEC Drops Lawsuit Against Ripple’s Senior Management
20.10.2023
XRP was a big gainer on Friday, as markets reacted to the SEC’s decision to drop its lawsuit against Ripple’s management team. The commission previously alleged that CEO Brad Garlinghouse and chairman Chris Larsen had violated securities laws. Solana also surged, rising by over...
Elon Musk hits at SEC, DOJ amid suit to force testimony in Twitter probe
6.10.2023
Elon Musk claims the SEC and DOJ are abusing their regulatory powers for personal and political gain to receive punitive action
SEC asks judge to reject Coinbase’s motion to dismiss lawsuit
4.10.2023
The regulator has asked a federal judge to deny Coinbase’s motion to dismiss its lawsuit, claiming the exchange knew the cryptocurrencies it sold were securities under the Howey test
SEC Charges FTX Auditor for Helping Clients Violate Securities Laws
2.10.2023
The U.S. Securities and Exchange Commission (SEC) announced charges against an accounting firm that worked for failed cryptocurrency exchange FTX. The company, Prager Metis, has been accused of facilitating clients in breaking federal securities laws and also auditor independence violations....
Binance Seeks Dismissal of SEC Lawsuit — Claims SEC ‘Distorts’ Securities Laws to Gain Power Over Crypto Industry
23.9.2023
Crypto exchange Binance and its CEO Changpeng Zhao (CZ) have filed a motion to dismiss the lawsuit against them by the U.S. Securities and Exchange Commission (SEC). “It is clear that the SEC’s lawsuit has no foundation in the currently enacted securities laws,” they argued...
SEC’s Call for Full Disclosure: Court Asked to Order Inspection of Binance US
18.9.2023
The U.S. Securities and Exchange Commission (SEC) filed a reply to support its motion to compel Binance Holdings Limited to comply with expedited discovery related to customer assets. The reply comes after months of alleged delays and incomplete responses from Binance as it fights a lawsuit...
Singapore’s Monetary Authority Issues 9-Year Ban on Three Arrows Capital Founders
14.9.2023
The Monetary Authority of Singapore (MAS) has issued nine-year prohibition orders against Three Arrows Capital (3AC) founders Zhu Su and Kyle Davies, banning them from regulated financial activities in the country. The orders come after a MAS investigation that reportedly uncovered multiple...
Shrapnel Web3 shooter won't let US users cash out, thanks to Gensler
14.9.2023
As soon as a gamer cashes out an in-game asset, they realize monetary value, which is where the problem with the SEC comes in, a Shrapnel executive told Cointelegraph
SEC Charges Impact Theory in First NFT-Related Lawsuit Over Unregistered Token Sales
28.8.2023
The Securities and Exchange Commission (SEC) has charged Los Angeles-based media company Impact Theory with offering and selling unregistered securities in the form of crypto asset tokens. Notably, this marks the SEC’s first lawsuit targeting an NFT offering. SEC Sues Impact Theory Over $30M...
Judge Denies CEL Valuation Boost; Evades CEL’s Security Classification in Celsius Saga
26.8.2023
In the unfolding saga of the Celsius bankruptcy case, a proposal was presented to elevate the defunct crypto enterprise’s native token, CEL, to a valuation of $0.80 each. Yet, the overseeing U.S. bankruptcy judge, Martin Glenn, dismissed this proposal. Consequently, Celsius’s...
Gemini Challenges SEC Lawsuit on Lending Program, Pushes for Oral Hearing
21.8.2023
Lawyers for cryptocurrency exchange Gemini have filed a motion seeking to dismiss a lawsuit brought against it by the U.S. Securities and Exchange Commission (SEC) over its Gemini Earn lending program. In the motion, Gemini argues the SEC has failed to plausibly allege that any securities laws were...
Law Professors Blast SEC’s Concept of Investment Contract in Amicus Brief
14.8.2023
Six professors of law have issued an amicus brief in favor of Coinbase, blasting the U.S. Securities and Exchange Commission’s (SEC) stance on the definition of investment contracts. Through a historical examination of the development of securities laws, the brief concludes that an investment...
Crypto Exchange Bittrex Settles With SEC — Agrees to Pay $24 Million
12.8.2023
Cryptocurrency exchange Bittrex has agreed to settle charges with the U.S. Securities and Exchange Commission (SEC). Bittrex and Bittrex Global agreed to pay $24 million. The SEC’s director of enforcement alleged that for years, Bittrex worked with token issuers to “scrub”...
Bitcoin ETF would be the 'seal of approval' from SEC: Mike Novogratz
13.7.2023
The Galaxy Digital founder believes approval of a spot Bitcoin ETF would essentially be a United States regulator and government nod for Bitcoin
US Senator Expresses Concern Over Prometheum Co-CEO’s Congressional Testimony
11.7.2023
On Monday, U.S. senator Thomas Tuberville (R-AL) published an open letter to U.S. attorney general Merrick Garland and Securities and Exchange Commission (SEC) chairman Gary Gensler expressing concern over allegations that Prometheum, Inc., a registered digital asset company, may have provided...
SEC States Coinbase Misinteprets Howey Test, Misuses Major Questions Doctrine
10.7.2023
The U.S. Securities and Exchange Commission (SEC) answered the latest filing of Coinbase by shooting down the arguments presented by the exchange to throw out the ongoing lawsuit. The filing reaffirms the institution’s jurisdiction on securities laws, explaining that Coinbase misinterprets...
Cameron Winklevoss Criticizes SEC Regulatory Approach: ‘Securities Laws Written in 1933 Don’t Meet the Realities of the World Today’
17.6.2023
Cameron Winklevoss, a co-founder of Gemini, a U.S.-based cryptocurrency exchange, criticized the U.S. Securities and Exchange Commission’s (SEC) posture regarding cryptocurrency regulation. Winklevoss stated that the SEC laws written in 1933 are obsolete today, and their application would...
Crypto Firm Abra Said to be Insolvent in Texas State Regulators’ Cease-and-Desist Order
16.6.2023
According to an emergency cease-and-desist order from the Texas State Securities Board, the cryptocurrency firm Abra is “insolvent or nearly insolvent.” The filing alleges that a group of state securities regulators has been investigating Abra, and the working group interviewed William...
Prometheum Testimony Raises Doubts: Crypto Community Questions Credibility Amid Regulatory Clarity Hearing
15.6.2023
The crypto community is abuzz with discussions on social media about the recent United States House Committee hearing held on June 13, 2023, which delved into regulatory clarity within the crypto industry. Notably, the co-CEO of an obscure cryptocurrency broker named Prometheum expressed support...