SEC’s Crypto Crackdown Terrible for Democrats: Ripple (XRP) Exec
In light of recent actions taken by the U.S. financial watchdog against crypto giants Paxos and Kraken, Ripple’s Chief Legal Officer, Stuart Aldeorty, took a jab at SEC Chair Gary Gensler on Twitter. In his opinion, the recent crypto-focused attacks could have an adverse effect on the Biden administration and the Democratic party as a whole.
Paxos Says It's 'Prepared to Vigorously' Fight SEC Lawsuit
Paxos confirmed Monday it received a Wells Notice from the Securities and Exchange Commission, stating it’s prepared to take on the agency and any enforcement actions related to stablecoin Binance USD.
SEC Lawsuit Against Paxos Over BUSD Baffles Crypto Community
Paxos and Binance USD (BUSD) being in the sights of United States regulators sparked various reactions from the crypto community.
Coinbase Tweets Sharp Clarifications Towards SEC’s Claims
Coinbase clarifies all the assertions and questions that have so far been raised by the SEC on its staking services. Taking it for securities or any other similar service is based on the grounds that have been finally moved by Coinbase. Brian Armstrong and Paul Grewal took to Twitter to share the statement that sheds light on the controversy.
Paxos Trust Co. Gets Wells Notice From SEC Over BUSD Token
It happens to be the Securities and Exchange Commission (SEC) that has duly informed the crypto company, Paxos Trust Co., which happens to be a crypto firm, that it is contemplating suing the company. This is with regard to its suspicion of the entity having violated investor protection laws. As per information from reliable sources, this happens to be in accordance with the SEC’s ongoing campaign involving the enforcement of crypto.
Coinbase Argues Its Staking Services Are Not Securities, Criticizes SEC Regulatory Approach
Coinbase, one of the leading U.S.-based cryptocurrency exchanges, has published a blog post differentiating its staking-as-a-service program from others in the market, and clarifying that, for the institution, this kind of service does not constitute a security offering.
Deaton: We Forced SEC to Admit That XRP is “Software Code”
Attorney Deaton highlights another progress made in the Ripple v. SEC lawsuit.
Coinbase CEO Says he Will “Happily Defend” Crypto Staking Service Against Claim it’s a Securities Product
Brian Armstrong, the chief executive officer of the Coinbase cryptocurrency exchange, said on Twitter Monday that the company will “happily defend” its staking services in court against claims that they need to be classified as securities. Coinbase, which trades on the Nasdaq, is the biggest crypto exchange in the U.S. Its shares last traded at US$57.09 on Friday, down 2.5%. Grewal said that staking is not a security under the U.S. Securities Act nor under the Howey test, the latter of which the U.S. Securities and Exchange Commission (SEC) uses to determine whether an investment contract is a security. (forkast)
Biggest Crypto Staker Lido Expresses Concerns for DeFi Post SEC’s Kraken Crackdown
Last week’s SEC’s crackdown on the Kraken exchange and the shutdown of its crypto staking services set a new precedence for the agency’s enforcement in the crypto space. Now, the DeFi space could face similar challenges ahead. The world’s largest DeFi application for crypto staking – Lido Finance – has expressed concerns and challenges ahead in the wake of SEC’s crackdown. Initial reports suggested that decentralized crypto-staking platforms like Lido Finance could benefit from SEC’s crackdown. However, that seems to be entirely the case. (coingape)
US Crypto Lawsuits Reach All-Time High With 42% Increase in 2022; SEC Cases Dominate Legal Battles
A new study on digital currency-related lawsuits since 2018 shows a 42% increase in crypto lawsuits in 2022. The highest number of claims in a single year was recorded last year, with 41 total claims in the United States. The research also shows that the majority of lawsuits came from the U.S. Securities and Exchange Commission (SEC). (Bitcoin.com)
