SEC

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
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-Halts-Recovery-Ahead-of-Ripple-June-7-Hearing
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-has-warned-that-the-U.S
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
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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XRP-Halts-Recovery-Ahead-of-Ripple-June-7-Hearing
XRP Halts Recovery Ahead of Ripple June 7 Hearing

XRP remains in a consolidation range from $0.39 to $0.42. SEC vs Ripple lawsuit will have an online conference on June 7. SEC also filed its memorandum in opposition to LBRY’s motion for summary judgment. The price of XRP has once again halted despite its slow climb to recovery despite Bitcoin rising up to the challenge of breaking the $32,000 resistance. Amid a back-and-forth movement from $0.39 to $0.42, XRP price is now trading at sub-$0.4 again. At the time of writing, XRP price is at $0.3973, according to CoinGecko. The current consolidation period is also in line with a

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SEC Recruits 20 Staff to Bolster Crypto Grip
SEC Recruits 20 Staff to Bolster Crypto Grip

The US SEC will recruit an additional 20 staff to its Crypto Assets and Cyber team. Open positions include investigative staff attorneys, trial lawyers, and fraud analysts. Meanwhile, the news did not sit well with the crypto community. The US Securities and Exchange Commission (SEC) announced that it will recruit up to 20 staff in its Crypto Assets and Cyber team. This means that should the 20 slots be taken, the said division will now have up to 50 experts. The job vacancies include investigative staff attorneys, trial lawyers, and fraud analysts. According to the watchdog, this move will bolster

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Ripple-Lawsuit
SEC Sunshine Act Meeting: Will Ripple Lawsuit Come to a Close?

The US SEC will hold a closed-door meeting on May 6. According to a document, the SEC will discuss resolution of litigation claims. The crypto community believes that the Ripple lawsuit is part of the discussion. The US Securities and Exchange Commission (SEC) is about to hold a closed-door meeting on May 6 to tackle various topics. Interestingly, many in the crypto community believe that the Ripple lawsuit settlement is not out of the window. According to an official document, the meeting, named Sunshine Act, will discuss the following topics: Institution and settlement of injunctive actions; Institution and settlement of

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