TL;DR Ripple was ordered to pay a $125 million fine, significantly lower than the US SEC’s initial demand, with both parties able to contend until early October. Lawyer Bill Morgan now sees a reduced chance (45%-55%) of an appeal form the Commision, based on recent case developments and favorable views on Judge Torres’ ruling. The…
US District Judge William H. Orrick has ruled that the US Securities and Exchange Commission has a plausible case against crypto exchange Kraken. According to the judge, the SEC’s lawsuit against Kraken will proceed. The US Securities and Exchange Commission’s lawsuit against crypto exchange will proceed, a judge has ruled. On Friday, August 23, 2024,…
According to a report by Sarah Wynn for The Block, Nasdaq ISE, LLC has officially withdrawn its proposals to list and trade options on spot Bitcoin and Ethereum exchange-traded funds (ETFs). The notices were filed on the U.S. Securities and Exchange Commission’s (SEC) website, indicating that Nasdaq ISE withdrew these proposals on Tuesday. Nasdaq ISE…
The long-awaited conclusion to the settlements phase of the trial passed with a much smaller fine than the SEC had requested. U.S. District Court Judge Analisa Torres for the Southern District of New York (SDNY) decided on a sum just a little over $125 million— instead of the $2 billion fine the SEC wanted. Investors…
“Rather, the Court finds that Ripple’s willingness to push the boundaries of the Order evinces a likelihood that it will eventually (if it has not already) cross the line,” she said. “On balance, the Court finds that there is a reasonable probability of future violations, meriting the issuance of an injunction.” Source link
XRP climbed to $0.66 on Wednesday, surging by 8% over the past 24 hours from $0.60, a level last seen in the third week of March. The latest upward price action comes amidst important developments in the XRP ecosystem and renewed investor optimism in the market as the accumulation trend intensifies. XRP Accumulation There has…
The Commodity Futures Trading Commission (CFTC) has initiated an inquiry into the cryptocurrency activities of Chicago-based Jump Trading, according to a report by Fortune’s Leo Schwartz. This investigation forms part of a larger regulatory review, though it does not suggest any wrongdoing by the firm. Jump Trading Under CFTC Scrutiny Jump Trading, noted for its…
Share this article Circle Internet Financial, the company behind the second-largest stablecoin USDC, is planning to go public through an IPO. But the SEC’s concerns about USDC could test its ambitious bid, said Barron’s, citing documents from the SEC. The documents show that the SEC’s Division of Corporation Finance engaged in nearly a year-long correspondence…
David Hirsch, the US Securities and Exchange Commission’s (SEC) Chief for the Crypto Asset and Cyber Unit in the Division of Enforcement, has bid farewell to the agency after dedicating almost nine years to the commission. Crypto Asset Enforcement Expert “This past Friday was my last day with the SEC after almost nine years. During…
The ongoing legal battle between Ripple Labs and the United States Securities and Exchange Commission (SEC) has become a major talking point in the cryptocurrency world. This lawsuit, which began in 2020, could set a precedent for how digital assets are regulated in the future. Let’s dive into the details and understand what’s at stake….