SEC

Ripple’s Response to SEC’s Appeal Request in XRP Lawsuit

September 4, 2023 2 mins read

Ripple, the San Francisco-based blockchain payments firm, is standing its ground in the ongoing legal battle with the U.S. Securities and Exchange Commission (SEC). The SEC had sought an interlocutory appeal in the case, but Ripple’s legal team is challenging this move, asserting that the regulatory body has not met the necessary requirements to file an appeal. Ripple has formally opposed the SEC’s request to appeal the ruling that cleared

Quantstamp Reaches Settlement with SEC Over Alleged Securities Violations

August 6, 2023 1 min read

In a significant development, the United States Securities and Exchange Commission (SEC) has reached a settlement with crypto company Quantstamp following allegations of securities law violations. The SEC had charged Quantstamp with violating securities regulations, and the company has opted to settle the matter without admitting or denying the allegations. As part of the settlement, Quantstamp has agreed to a cease-and-desist order and will make a payment of $1,979,201 as

Ripple vs. SEC: Ex-SEC Attorney Issues Caution Amidst Victory Claims

July 22, 2023 2 mins read

The recent highly publicized decision in the Securities and Exchange Commission (SEC) case against Ripple has been hailed by many as a significant victory against the SEC and Chairman Gary Gensler. However, former SEC attorney John Reed Stark offers a cautionary perspective, highlighting the ruling’s shaky ground and the likelihood of an appeal that could potentially result in a reversal. As the crypto community celebrates, Stark challenges the prevailing narrative

US Lawmaker Demands Gary Gensler Stop Targeting Cryptocurrencies

July 19, 2023 1 min read

US Congressman Ritchie Torres has sent a letter to SEC Chairman Gary Gensler, expressing concerns over the regulatory approach towards cryptocurrencies and urging the SEC to reconsider its stance. In the letter, Congressman Torres referred to a recent landmark court ruling by New York Southern District Judge Analisa Torres, which stated that cryptocurrencies are not securities by themselves but can be sold as part of investment contracts under the Howey

Coinbase Files Motion to Dismiss SEC Lawsuit

June 29, 2023 1 min read

Cryptocurrency exchange Coinbase has filed a motion to dismiss the recent lawsuit brought against it by the U.S. Securities and Exchange Commission (SEC). The lawsuit accused Coinbase of facilitating unregistered trading in 12 digital tokens classified as securities. However, Coinbase vehemently disputes these claims and argues that the SEC’s interpretation of securities laws is fundamentally flawed. Coinbase’s Chief Legal Officer, Paul Grewal, stated that the SEC’s allegations “go far beyond

SEC Postpones $30 Million BlockFi Fine to Aid Creditor Reimbursements

June 23, 2023 1 min read

The U.S. Securities and Exchange Commission (SEC) has agreed to defer the payment of a $30 million fine for BlockFi, a bankrupt crypto lender. The move aims to prioritize the reimbursement of creditors and maximize the amount that can be distributed to investors. BlockFi is currently in the midst of bankruptcy proceedings following the collapse of FTX. The company still owes $30 million from a $50 million penalty imposed by

Coinbase Receives Response from SEC on Regulatory Matters

June 14, 2023 1 min read

The U.S. Securities and Exchange Commission (SEC) has issued its formal response to the Third Circuit’s request regarding the ongoing legal dispute with Coinbase, a prominent cryptocurrency exchange. The SEC’s extensive response reveals a continued reluctance to provide clarity on cryptocurrency regulation or commit to a specific timeline for rulemaking, despite the court’s explicit orders. In its response, the SEC argues that Coinbase’s demand for immediate action is an “extraordinary

Binance.US Fights Back: Calls for Dismissal of SEC’s Restraining Order

June 14, 2023 1 min read

Binance.US, the American affiliate of cryptocurrency exchange Binance, has filed a motion to challenge the Securities and Exchange Commission’s (SEC) request for a temporary restraining order. In its motion, Binance.US argues that the SEC has failed to identify any securities traded on its platform and that the requested restraining order would harm its customers, potentially forcing it out of business and hindering its ability to fight the litigation. Binance.US also

Lawmakers Propose Bill to Remove SEC Chair: Legal Questions Surround Authority

June 13, 2023 2 mins read

Members of the United States House of Representatives have recently taken steps to remove Securities and Exchange Commission (SEC) Chair Gary Gensler from his position. However, the legality of such a move is not as straightforward as it may seem. In this article, we delve into the complexities surrounding the proposed legislation and explore the challenges faced in removing an independent agency official. Ohio Rep. Warren Davidson introduced the SEC

Former SEC Official Warns Crypto Investors to “Get Out” of Crypto Platforms

June 10, 2023 1 min read

John Reed Stark, a former high-ranking official at the U.S. Securities and Exchange Commission (SEC), has warned crypto investors to “get out” of crypto platforms due to an ongoing regulatory and law enforcement crackdown. In a blog post, Stark said that crypto platforms are “high-risk” and “perilous” due to a lack of investor protections and oversight. He pointed to the recent lawsuits filed by the SEC against Binance and Coinbase

US SEC leaks Binance’s employee chat logs

June 9, 2023 2 mins read

The Securities and Exchange Commission (SEC) has released employee chat logs from Binance, the world’s largest cryptocurrency exchange. The chat logs allegedly show Binance employees discussing ways to evade regulatory scrutiny. Binance CEO Changpeng Zhao (CZ) has condemned the SEC’s release of the chat logs, calling it “unethical” and “damaging to the crypto industry.” CZ has also demanded that the SEC explain why it released the chat logs. In a

Why is the SEC Taking a Strong Stance Against Binance and CZ? Google Bard Reveals the Answer

June 8, 2023 1 min read

The US SEC has not made any statements about why they are investigating Binance or CZ. However, there are a few possible reasons for the investigation. One possibility is that the SEC is concerned about Binance’s lack of transparency. Binance is a global exchange with operations in many countries, but it has not registered with the SEC as a securities exchange. This means that the SEC does not have the