SEC

SEC Legal Actions Drive Robinhood to Reevaluate Crypto Operations

June 7, 2023 2 mins read

Popular brokerage firm Robinhood is reassessing its cryptocurrency offerings in response to recent regulatory actions taken by the Securities and Exchange Commission (SEC) against prominent digital asset trading platforms. The firm’s legal chief, Dan Gallagher, revealed during a congressional meeting that Robinhood is reviewing the SEC’s analysis to determine any necessary actions. This development comes as the SEC filed lawsuits against both Binance and Coinbase, targeting their alleged violations of

SEC Seeks to Freeze Binance’s Assets in U.S.

June 7, 2023 1 min read

The U.S. Securities and Exchange Commission (SEC) has filed a motion for a temporary restraining order against Binance, BAM Management, and BAM Trading. The order, if granted, would freeze the assets of Binance.US and prevent the defendants from destroying, altering, or concealing relevant records. The SEC’s motion comes one day after the agency filed a lawsuit against Binance, alleging that the company violated the Exchange Act and the Securities Act

SEC Labels 10 Tokens Securities in Binance Lawsuit

June 6, 2023 2 mins read

The U.S. Securities and Exchange Commission (SEC) has intensified its regulatory actions against cryptocurrencies, as it included 10 additional tokens in its charges against Binance on Monday. According to court documents, the SEC identified SOL, ADA, MATIC, FIL, ATOM, SAND, MANA, ALGO, AXS, and COTI as securities, referring to them as “crypto asset securities” in its complaint. The SEC alleges that Binance unlawfully solicited U.S. investors to engage in trading

Gemini and Genesis Seek to Dismiss SEC Lawsuit

May 28, 2023 1 min read

Gemini and Genesis, two cryptocurrency companies, have filed a motion to dismiss a lawsuit filed by the Securities and Exchange Commission (SEC) alleging that their Earn offering violated securities laws. The Earn offering allowed users to earn interest on their cryptocurrency deposits by lending their coins to Genesis. Genesis then invested the coins in various ways, including lending them to other cryptocurrency companies. The SEC alleges that the Earn offering

Ripple CEO Says SEC Case Could End Soon

May 25, 2023 1 min read

Ripple CEO Brad Garlinghouse said in a recent interview that he expects the company’s prolonged legal battle against the US Securities and Exchange Commission (SEC) to be over in weeks. In an interview with Mukaya Panich, the CEO of SCB 10X, Garlinghouse said he expects the court case resolution “in weeks, not months,” following the recent court news regarding the Hinman emails would be made public. The Hinman emails refer

Internal Emails from the U.S. SEC Could Be Ripple’s Key to Winning the Lawsuit

May 22, 2023 2 mins read

Internal emails from the U.S. Securities and Exchange Commission (SEC) suggest that the regulator knew that XRP did not fully meet the definition of security. The emails, which were filed by Ripple in court, argue that there are reasonable grounds not to consider XRP as a security because it does not satisfy the Howey test. The Howey test is a legal framework used to determine whether an investment is a

Watchdog Group Sues SEC for Access to Documents on XRP and ETH

May 12, 2023 1 min read

Empower Oversight, a watchdog agency, is taking the Securities and Exchange Commission (SEC) to court over Freedom of Information Act (FOIA) requests that have yet to be fulfilled. The lawsuit seeks to compel the SEC to provide Empower with requested records that could shed light on potential conflicts of interest related to cryptocurrency, specifically involving former SEC officials William Hinman and Jay Clayton. Hinman, who is now a senior adviser

Ripple Vs. SEC: Speculation Arises Over Undisclosed Meeting Next Week

May 2, 2023 1 min read

Ripple Labs and the US Securities and Exchange Commission (SEC) continue their legal battle without a verdict, but rumors suggest a potential undisclosed meeting between the parties on May 8. The meeting has led to speculation about a possible settlement. However, XRP community attorney John E. Deaton doubts the rumor’s validity, believing that Ripple and the SEC can meet anytime they want. Deaton suggests that a settlement would only happen

The U.S. SEC calls for strict enforcement of regulations against crypto players

April 11, 2023 1 min read

The Investor Advisory Committee of the U.S. Securities and Exchange Commission (SEC) has called for strict enforcement of regulations against crypto players who offer unregistered securities. In a letter addressed to SEC Chair Gary Gensler, the committee urged the regulatory agency to continue its aggressive crackdown on violators in the crypto space, including issuers, custodians, and unregistered trading platforms. The letter also made it clear that the committee considers “virtually

SEC Under Fire as Judges Question its Position in Grayscale’s Bitcoin ETF Appeal

March 8, 2023 2 mins read

On March 7, a panel of judges from the District of Columbia Circuit Court of Appeals questioned the U.S. Securities and Exchange Commission’s (SEC) rejection of Grayscale Investments’ spot Bitcoin ETF application. The judges presiding over the first appeals hearing, Chief Judge Sri Srinivasan and Judges Neomi Rao and Harry Edwards, asked the SEC’s lawyer what more Grayscale needs to do to meet its requirements for the ETF. Grayscale lead

Ripple Appoints New President Ahead of XRP Lawsuit Decision

January 30, 2023 1 min read

Ripple Labs, the payments platform, has recently appointed a new president amidst the ongoing lawsuit by the U.S. Securities and Exchange Commission (SEC). In a company blog post, Ripple announced the promotion of Monica Long, the firm’s senior vice president and general manager, to the position of president. According to Ripple CEO Brad Garlinghouse, Long has been an instrumental figure in the company’s growth and financial stability, even in the

MoneyGram Moves to Keep Some XRP Lawsuit Filings Confidential in Ripple, SEC Case

January 5, 2023 1 min read

MoneyGram has asked the U.S. District Court for the Southern District of New York to keep certain details of its summary judgment materials in the lawsuit between Ripple and the SEC confidential. The cross-border payments company stated that it wants to protect business information and employee identities. The SEC and Ripple requested a summary judgment in September. The SEC filed a lawsuit against Ripple and its executives in December 2020,