Crypto Exchange Kraken Facing SEC Probe, Settlement Could Come Soon
Kraken is under investigation by the U.S. Securities and Exchange Commission (SEC) as to whether rules were broken in certain offerings to U.S. investors, reports Bloomberg.
SEC To Intensify Scrutiny on U.S. Brokers Dealing in Crypto
The Securities and Exchange Commission (SEC) of the United States issued its annual examination priorities on how it will keep track of emerging risks, and one highlight was the handling of crypto assets.
SEC to up Scrutiny of Firms Offering or Giving Advice About Crypto
Crypto brokers and investment advisors offering or giving advice about cryptocurrencies will be put under the scope of the United States' securities watchdog this year. A Feb. 7 statement from the Securities and Exchange Commission’s (SEC) Division of Examinations outlined its priorities for 2023, suggesting brokers and advisers dealing in crypto will need to be extra careful when offering, selling or making recommendations regarding digital assets. It stated that SEC-registered brokers and advisors will be closely watched to see if they followed their “respective standards of care” when making recommendations, referrals and providing investment advice. (Cointelegraph)
SEC Directs Examiners to Focus on How U.S. Broker-Dealers Are Pitching Crypto
U.S. broker-dealers and investment advisers that deal in crypto will get extra scrutiny from Securities and Exchange Commission examiners this year, according to the agency’s annual examination priorities announced Tuesday.
Grayscale Continues to Challenge SEC for Spot Bitcoin ETF Conversion
Grayscale announced that it had filed its final briefs in its litigation against the SEC to challenge the decision to deny the conversion of the Grayscale Bitcoin Trust into a spot Bitcoin ETF on Feb. 7.
US Attorney Requests SEC and CFTC Civil Cases Against SBF Wait Until After Criminal Trial
Damian Williams, United States Attorney for the Southern District of New York, has petitioned the court to delay civil proceedings against former FTX chief executive officer Sam Bankman-Fried “until the conclusion of the parallel criminal case”.
Ex-Coinbase Manager Files To Dismiss SEC Claims
Former Coinbase Product Manager Ishan Wahi has urged the court to dismiss insider trading charges against him — claiming that the U.S. Securities Exchange Commission (SEC) lacks the authority to classify tokens as securities.
XRP Lawyer Deaton Files Amicus To Join Another Ripple Lawsuit
The U.S. Securities and Exchange Commission (SEC) lawsuit against Ripple Labs is not the only battle the company is currently fighting. In fact, there is a court case that has been under trial for a longer period of time: The class action lawsuit filed by XRP investors against Ripple Labs and CEO Brad Garlinghouse, which has been pending since November 2018.
Former Coinbase Manager Seeks to Dismiss Watershed Insider Trading Case
Lawyers are asking a judge to dismiss a case against their client, a former Coinbase manager and his brother, arguing that the tokens involved are not securities. In an 81-page brief, lawyers from five law firms said the Securities and Exchange Commission was “wrong” to say that nine digital assets were securities, comparing them to Beanie Babies and baseball cards — after the agency charged Ishan Wahi, 32, for insider trading, along with his brother and a friend. The lawyers argue that all nine tokens are utility tokens necessary for the use of the networks that created them, making the case one that could have broader implications for Coinbase and other exchanges listing those assets in the U.S. (The Block)
Binance and Others Move 507M XRP as Token Faces Opposition at $0.42
XRP whales have moved over 507 million tokens in the past 24 hours as the asset faces fierce resistance at the $0.42 zone amid a lack of updates on the legal tussle between Ripple and the U.S. SEC.
