Linus Financial, a Nashville-based crypto platform, has settled its dispute with the SEC out of court. Previously, the project offered pooled crypto investment opportunities to its users in exchange for fiat. However, the firm voluntarily winded down its operations when a similar firm got into hot water with the securities regulator over a nearly identical...Read More
Although Ripple scored a partial court victory against the SEC earlier this summer, the battle is far from over, as the agency has formally requested the right to appeal against the decision. The US securities regulator’s response comes after the deadline for Ripple to present its opposition passed on September 1. Recall arguably the most...Read More
LBRY plans to challenge a New Hampshire federal judge’s ruling that sided with the Securities and Exchange Commission (SEC) that declared the platform’s token sales as unregistered securities. The appeal comes after blockchain firm Ripple scored a partial victory in its fight with the country’s federal regulator. Prominent asset manager Grayscale’s most recent win is...Read More
After handily defeating the regulator in court, Grayscale sent a letter to the Securities and Exchange Commission (SEC) on Tuesday with key messages for the agency as it pursues next steps. Given the court’s ruling, Grayscale emphasized that the commission has run out of reasons to continue denying the launch of a Bitcoin spot ETF....Read More
Outflows have significantly slowed down, with bitcoin products showing resilience amidst a flatlined market trend. According to the latest edition of CoinShares’ Digital Asset Fund Flows Weekly Report,’ there is a glimmer of hope that negative sentiment may be starting to shift, as highlighted by the firm’s Head of Research, James Butterfill. Butterfill observed that...Read More
Jay Clayton – former Chairman of the US Securities and Exchange Commission (SEC) – thinks the regulator will sooner or later approve the launch of a spot Bitcoin exchange-traded fund (ETF). The agency recently decided to delay the applications of BlackRock and numerous other finance giants who displayed ambitions to introduce such a product. Clayton...Read More
According to insights shared by lawyer John E. Deaton, the ongoing SEC lawsuit against Ripple has had a negative impact on the adoption of XRP. The lawyer, following the legal proceedings, recently took to X to highlight a notable example of how the lawsuit hindered the cryptocurrency’s adoption. Deaton’s observation comes as a shared personal...Read More
A little-discussed memo from the Securities and Exchange Commission (SEC) from five years ago may suggest that the agency faced internal struggles in concluding whether XRP was a security, according to crypto lawyer John Deaton. This may indicate that Ripple – the company behind XRP – was not legally reckless in issuing the token years...Read More
The United States Securities and Exchange Commission (SEC) brought its first enforcement action against a player in the non-fungible token (NFT) space charging Impact Theory of engaging in an unregistered securities offering. The financial regulator claimed that Impact Theory – a Los Angeles-based media and entertainment – sold approximately $30 million of NFTs while also...Read More
Ripple Labs is gearing up for a celebration after its significant win against the Securities and Exchange Commission (SEC) in New York City, scheduled for September 29, 2023. The company promised to unveil more details about this event in the coming week. 🎉 Save the Date 🎉 We’re hosting a community celebration on September 29...Read More
The US Court of Appeals for the DC Circuit overturned the country’s securities regulator’s rejection to review Grayscale’s application to turn its flagship fund into a spot Bitcoin ETF. Recall that the asset manager sued the Securities and Exchange Commission earlier this year. The Tuesday ruling ordered the SEC to “vacate” its decision to refute...Read More
Though many doubted their odds, Grayscale has defeated the Securities and Exchange Commission (SEC) in court, bringing the U.S. market one step closer to approval of a Bitcoin spot ETF. Going into its lawsuit, certain legal and market experts saw Grayscale’s victory as quite likely: Here are just a few of them Why Grayscale’s Victory...Read More
The U.S. Court of Appeals for the D.C. Circuit has released its full letter explaining its decision to rule in Grayscale’s favor in its lawsuit with the Securities and Exchange Commission (SEC). The decisive 3-0 victory for the company is based on the SEC’s “unreasonable” justification for favoring futures ETFs over spot products, and its...Read More
Crypto markets pumped $65 billion following the news that a court ruled in favor of Grayscale in its lawsuit challenging the SEC’s decision to deny conversion of its GBTC fund to an ETF. The big move has reversed the recent bearish sentiment as market analysts and observers are now eyeing the next bull cycle. On...Read More
US Representative Warren Davidson continues to push for Gary Gensler’s removal as the chairman of the Securities and Exchange Commission (SEC) following Grayscale’s recent win in court against the agency. Industry stakeholders and the broader crypto community believe Gensler and the SEC’s regulation by enforcement approach towards the crypto industry caused more harm than good...Read More
Grayscale CEO Michael Sonnhenshein spoke to CNBC’s Squawk Box on Wednesday on his company’s latest victory in its lawsuit against the Securities and Exchange Commission (SEC). While discussing next steps and the possibility of appeal, Sonnhenshein promised that Grayscale’s fees are prepared to drop should its Bitcoin trust successfully convert into an ETF. What’s Next...Read More
On Aug. 30, the United States District Court for the Southern District of New York dismissed the suit against the decentralized exchange, its CEO, and its venture capital backers. The suit was brought by six individuals who bought what they alleged were scam tokens on Uniswap between December 2020 and March 2022. The plaintiffs claimed...Read More
Two Bloomberg exchange-traded fund (ETF) analysts, Eric Balchunas and James Seyffart, predicted that there is a 75% chance the United States will have a spot Bitcoin ETF by the end of 2023, following Grayscale’s win against the US Securities and Exchange Commission (SEC). While the SEC has approved future-based Bitcoin ETFs, the Commission is yet...Read More
As the US Securities and Exchange Commission (SEC) faces mounting political pressure to greenlight a bitcoin ETF following its recent court loss, there’s an opposing viewpoint that insists on maintaining the current stance. However, CoinShares product head Townsend Landing believes the financial regulator is stuck in a maze of its own making. ‘Hoist With His...Read More
As expected by analysts, the Securities and Exchange Commission (SEC) has again delayed its upcoming decision on whether to approve a slew of Bitcoin spot ETF applications. This pushes forward their respective decision dates by another 45 days. According to the SEC’s website, decisions for proposed ETFs from Blackrock, Invesco, WisdomTree, Valkyrie, Bitwise, VanEck, and...Read More
After suffering defeat against Grayscale in court, the Securities and Exchange Commission (SEC) is faced with a difficult decision on how to handle the wave of Bitcoin spot ETF applications knocking on its door. The agency need not approve the applications, however: instead, it may choose to rescind prior approval of the nation’s Bitcoin futures...Read More
Bitcoin (BTC) has slid back to the $26,000 price level, where it was before a U.S. court ruled in favor of digital asset management company Grayscale Investments in its lawsuit against the Securities and Exchange Commission (SEC). Crypto analytics firm Santiment noted that on-chain data shows that the digital asset has retraced its steps after...Read More
A few days ago, the U.S. Court of Appeals for the D.C. Circuit ruled in favor of digital asset management company Grayscale Investments in its lawsuit against the Securities and Exchange Commission (SEC). The court ordered the agency to review its rejection of Grayscale’s application to turn its flagship Grayscale Bitcoin Trust fund (GBTC) into...Read More
John Deaton, founder of CryptolawUS and an advocate for XRP holders, spoke out against the SEC’s “aiding and abetting” allegations against Brad Garlinghouse, CEO of Ripple. Deaton claims that the situation might have been prevented if the SEC had allowed previous executives Bill Hinman and Jay Clayton to testify sooner. In the Ripple v. SEC...Read More
The leading cryptocurrency exchange – Bitstamp – will reportedly disallow US customers to stake cryptocurrencies from September 25. The decision comes as a result of the “current regulatory dynamics” in the world’s largest economy, Chief Executive Officer Bobby Zagotta said. US Citizens Affected Once Again The world’s longest-running crypto exchange – Bitstamp – will become...Read More
Cardano’s founder, Charles Hoskinson, believes the United States Securities and Exchange Commission (SEC) will not come after the project’s native token, ADA. During a recent YouTube interview on Corey Costa’s Crypto Coins, Hoskinson pointed out that there has been no enforcement action against ADA so far, and that would not change because the asset was...Read More
Over the past couple of months, the SEC has gone all-in on crypto platforms, filing lawsuit after lawsuit to varying degrees of success. The defendants in these lawsuits range from major league players such as Binance, Coinbase, and Gemini to small fry such as Titan, who have been accused of fudging their numbers, failing to...Read More
Despite Ripple scoring a win in the ongoing lawsuit with the US Securities and Exchange Commission (SEC), some members of the community believe the legal battle caused damages for the firm and its native token. According to lawyer and founder of CryptoLaw, John Deaton, who also represents thousands of XRP holders, the SEC lawsuit affected...Read More
Gemini filed a brief addressed to the U.S. District Court for the Southern District of New York (SDNY) late last Friday. It contained a request from Gemini’s legal team for the dismissal of the court case filed against it by the SEC, citing unclear accusations. Whereas Binance, Coinbase, and Bittrex – the last of which...Read More
The U.S. Securities and Exchange Commission (SEC) has filed a motion requesting permission to appeal a federal court ruling last month claiming that secondary sales of Ripple’s XRP token are not securities. The agency argued that there are still “substantial grounds for difference of opinion” regarding how securities laws apply to crypto, making frequent reference...Read More
