SEC

Coinbase Legal: SEC Had No Reason To Deny Grayscale’s BTC ETF
Coinbase Legal: SEC Had No Reason To Deny Grayscale’s BTC ETF

According to Coinbase’s Chief Legal Officer, the SEC had no reason to deny Grayscale’s BTC ETF. After the BTC ETF rejection, Grayscale sued the SEC. Thousands of crypto advocates including Coinbase expressed their support for Grayscale. A couple of days after Grayscale filed a lawsuit against the US Securities and Exchange Commission (SEC), leading American crypto exchange Coinbase expressed its support. However, Coinbase Chief Legal Officer Paul Grewal highlighted that Grayscale did not seek any special favor during its filing of a bitcoin ETF, to begin with. Grewal pointed out that its support for Grayscale is based on the notion

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US SEC Charges Kim Kardashian for Promoting EthereumMax
US SEC Charges Kim Kardashian for Promoting EthereumMax

Kim Kardashian is charged by the US SEC for promoting EthereumMax Kim consented to the charges and will pay $1.26 million in fines. The predicament of Kim Kardashian is to serve as a lesson to other celebrities. Kim Kardashian has been charged by the Securities and Exchange Commission for promoting a crypto asset security issued and sold by EthereumMax on social media without reporting the compensation she got for the promotion.  In exchange for dropping the accusations, paying $1.26 million in fines, disgorgement, and interest, and cooperating with the Commission’s continuing investigation, Kardashian agreed to settle the case. According to

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Fox Journalist Calls to Investigate SEC Amid XRP Lawsuit

Fox Journalist Eleanor Terrett said there are conflicts of interest in the SEC over the XRP lawsuit. Source of Terrett said Bill Hinman pushed the case, despite the SEC and Ripple being willing to settle. Atty. John Deaton was positive that they’ll get an investigation after midterms. The SEC vs Ripple’s XRP lawsuit once again built a commotion on Twitter, as Journalist Eleanor Terrett of Fox Business said there are “definite conflicts of interest” and a need to put an investigation over SEC members then and now. The commotion began after Bill Hinman, former director of the SEC’s Division of

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Bill Hinman’s Calendar Reveal May Spell Trouble for Ethereum

A FOX journalist obtained a copy of former SEC Director Bill Hinman’s calendar. Hinman has met with people from the crypto industry, including those from Ethereum. If worse comes to worst, the SEC may consider Ethereum a security. It would appear that the skeletons in Bill Hinman’s closet during his tenure at the US Securities and Exchange Commission (SEC) are being unearthed in plain sight. Specifically, FOX journalist Eleanor Terrett has gotten a copy of Hinman’s calendar while he was still part of the SEC, and some entries are very interesting. According to Terrett, Hinman met personally with prominent people

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CFTC Chastised For 'Blatant Regulation Via Enforcement'
CFTC Chastised For ‘Blatant Regulation Via Enforcement’

The CFTC’s measures are being strongly opposed by its own commissioner. A lawyer complained at length about the SEC abusing CFTC`S tactic. Reportedly, Ooki DAO violated CEA and CFTC rules with impunity. After bringing a federal civil enforcement action against members of the decentralized autonomous organization Ooki DAO for digital asset trading violations, the Commodity Futures Trading Commission (CFTC) drew harsh condemnation from the community which was unexpected. The CFTC announced on September 22 that it had filed and simultaneously resolved charges against Tom Bean and Kyle Kistner, the creators of decentralized trading platform bZeroX, for their participation in “illegally

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SEC Points Its Sword of Justice at Crypto Influencers

The SEC has begun to hold crypto influencers accountable. The regulator has filed a lawsuit against Ian Ballina. Ballina promoted SPRK tokens on social media without revealing his incentive from them. The SEC sets its sights on Crypto Influencers and holds them accountable for promoting failed projects. In detail, the SEC is charging crypto influencer — Ian Ballina, for an Initial Coin Offering (ICO) in 2018.  It seems the United States Securities Exchange Commission (SEC) is holding more than tokens and companies accountable. Specifically, the SEC is charging Ballina for promoting a token on social media and not mentioning the

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XRP Booms as Ripple Execs Request to Expedite Case

XRP is booming despite most leading altcoins struggling to reestablish key support levels. At the time of writing, XRP price has gained 11.7% in the last 24 hours. The XRP surge is in sync with Ripple executives filing a motion to expedite the case. The price of XRP has been on a continuous climb in the last two days despite the greater crypto market having a tough time in reestablishing key support levels. In fact, in the last 7 days, only XRP gained in price among the top 20 cryptocurrencies. At the time of writing, XRP is changing hands at

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The United States Securities and Exchange Commission (SEC) sent a letter last week to Judge Analisa Torres, one of the US District Judges who conducts court proceedings of SEC vs Ripple lawsuit, asking to revoke amici status granted to XRP Holders and to bar John Deaton from further proceedings. Earlier today, defense attorney James Fillan tweeted Judge Torres denies the said SEC’s motion. Deaton, the attorney representing over 67,000 XRP holders affected by the SEC vs Ripple lawsuit, showed his appreciation with the two judges handling the lawsuit by saying they have been fair and neutral. https://twitter.com/JohnEDeaton1/status/1552057199278555137?t=WHb6sVj7jxWvTPI1-aAQOw&s=19 A day before SEC filed the motion denied, the defendants of Ripple filed a request letter to participate in the expert challenge, a report available to judges and experts to track legal challenges to an expert’s testimony. According to the document signed by Judge Torres, amici can’t participate in expert challenges now. However, they could file an application to brief concerns with the SEC's expert at summary judgement. The SEC filed a lawsuit in late 2019 against Ripple, a blockchain-based payment protocol that processes international money transfers. According to the lawsuit, Ripple conducted an unregistered securities offering through sales of XRP. However, Ripple showed pieces of evidence that the crypto regulation from the SEC was inconsistent. At the present time, the Ripple lawsuit was still ongoing. John Deaton said without settlement, the best case scenario for a ruling is in late August and worst case is in December.
Judge Reject SEC Motion to Revoke Amici Status and Bar John Deaton

The SEC asked Judge Torres to revoke XRP Holder’s amici status last week. In addition, the SEC wants to bar John Deaton from further proceedings. Judge Torres denied the motion of SEC earlier today. The United States Securities and Exchange Commission (SEC) sent a letter last week to Judge Analisa Torres, one of the US District Judges who conducts court proceedings of SEC vs Ripple lawsuit, asking to revoke amici status granted to XRP Holders and to bar John Deaton from further proceedings. Earlier today, defense attorney James Fillan tweeted Judge Torres denies the said SEC’s motion. Deaton, the attorney

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Mark Cuban Suspects SEC to Lay ‘Nightmare’ Token Registration Rules

Mark Cuban suspects the SEC to come up with a new crypto registration rule. Cuban’s suspicion was in regards to the enforcement action taken with the first ever crypto insider case. The Shark Tank star first slammed SEC over its enforcement-centric approach to crypto regulation in August. Shark Tank star Mark Cuban, an American billionaire entrepreneur and owner of NBA team Dallas Mavericks, forewarned his 8.7 million Twitter followers on Saturday regarding the US Securities and Exchange Commission (SEC) crypto token regulation. Last week, the SEC charged a former Coinbase manager with the first ever crypto insider case and discovered

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US SEC Commissioner Allison Lee Steps Down

SEC Commissioner Allison Herren Lee Announces Departure (Sorta). Lee was sworn in as an SEC Commissioner on July 8, 2019. Allison has been a stalwart advocate for strong and stable markets Allison Herren Lee stepped down from her position as the Commissioner of the Securities and Exchange Commission (SEC). Lee announced her planned departure in March of this year with plans to take up a visiting professorship in Italy. According to the New York Times, she had delayed the opportunity to take a seat on the Commission in 2019. .  Prior to serving as a Commissioner, Lee spent over a

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