Two U.S. Sec Commissioners Oppose the SEC’s Enforcement Action Against the NFT Project Stoner Cats 2 LLC
On September 14th, the US Securities and Exchange Commission (SEC) commissioners Hester M. Peirce and Mark T. Uyeda opposed SEC's enforcement action against the NFT project Stoner Cats 2 LLC (SC2), saying that we should establish clear guidelines for artists and other creators who want to try NFTs to support their creative efforts and build their fan communities, and that in some cases, the sale of NFTs may involve securities laws.
The U.S. SEC and Binance Filed a Motion for a Joint Protective Order, Requesting That Litigation Evidence Materials Be Kept Confidential
According to court documents, the US SEC and Binance have filed a joint motion for a protective order, requesting that both parties keep confidential the evidence materials discovered in the lawsuit, including but not limited to documents, interrogatory answers, and deposition transcripts.
Earlier reports stated that Binance had requested a court order against the US SEC, claiming that the regulatory agency had engaged in a "fishing expedition."
Ripple CLO Stuart Alderoty Calls SEC Filing "Hypocritical Pivot" in Ongoing Lawsuit
The SEC has filed a memorandum in support of its motion for an interlocutory appeal and against Ripple's request to reject an interlocutory appeal. Ripple's chief legal officer, Stuart Alderoty, has criticized the filing as a "hypocritical pivot" and accused SEC Chairman Gary Gensler of being manipulative and power-hungry.
Tom Emmer Introduces Amendment To Limit SEC’s Use of Funds for Digital Asset Enforcement
Tom Emmer, the Majority Whip of the U.S. House of Representatives, has introduced an amendment criticizing SEC Chair Gary Gensler for overstepping his authority in the cryptocurrency industry. Emmer is urging Congress to use their available methods to restrict Gensler from misusing taxpayer funds.
SEC Urges Court To Grant Appeal in Ripple Labs Lawsuit Over XRP Classification As Security
The U.S. Securities and Exchange Commission (SEC) has filed a motion to appeal a ruling in the Ripple Labs lawsuit that declared XRP was not a security when sold to retail investors. The SEC argued that there are "knotty legal problems" surrounding the court's application of the law, specifically the Howey Test, which warrant a review.
SEC Files Ripple Case Response Memorandum Further Supporting Its Motion for Interlocutory Appeal
According to a legal document shared on Twitter by former US federal prosecutor James K. Filan, the SEC has submitted a memorandum in support of its motion for an interlocutory appeal in the Ripple case.
Crypto Firm Linus Financial Settles With SEC Over Unregistered Crypto Lending Product
Nashville-based crypto services firm, Linus Financial, has reached a settlement with the U.S. Securities and Exchange Commission (SEC) for allegedly failing to register the offer and sale of its retail crypto lending product. The settlement focused on Linus's crypto lending product, Linus Interest Accounts, and the SEC decided not to impose civil penalties due to the company's cooperation and prompt remedial actions.
Ripple Labs Chair Chris Larsen Says US Legal System Will Bring Crypto Industry "Back in the Game" After Biden Administration's Policy Screw-Up
According to Chris Larsen, the chair and co-founder of Ripple Labs, the US legal system will bring the crypto industry back on track after the Biden administration's flawed crypto policy. He believes that the SEC lost on everything important in the regulation of the industry, and the courts will provide clarity to get the industry back in the game.
Crypto Market Bearish Today with Bitcoin ETF Approval Decision Postponed
The crypto market is currently bearish, with many hoping that the approval of a spot Bitcoin ETF will bring a bullish trend. However, the SEC has postponed their decision and the Fear And Greed Index remains in the fear zone at 34/100. Bitcoin's price is still below $30,000 at $25,789.89, down by 1.09% in the last day.
The US SEC Has Held a Closed-Door Meeting This Thursday, and It Is Rumored That It May Seek a Settlement With Ripple
The US Securities and Exchange Commission (SEC) held a closed-door meeting on Thursday, August 31, 2023. There are rumors that this confidential meeting may involve a settlement with Ripple. The "Sunshine Act Notice" issued by the US Securities and Exchange Commission afterwards provided limited details about the meeting and left room for market speculation.
