Legal Scholars Argue SEC's Lawsuit Against Coinbase Conflicts with Established Securities Law
The scholars argue that the SEC's interpretation of securities law conflicts with established logic from a century ago, and that the term "investment contract" has a more limited scope than the SEC believes. They contend that a contractual agreement between buyers and sellers is necessary for an "investment contract" to exist, and that a decision in favor of the SEC would break away from established case law.
Former SEC Official: Crypto Regulatory Shock Won't End
John Reed Stark, former head of internet enforcement at the SEC, warned that the impact of cryptocurrency regulation will never end. He said that cryptocurrency exchanges like Binance and Coinbase are just "playing a short-term regulatory arbitrage game." This has led to the rapid development of a market that is like a "post-apocalyptic era without regulation," so the SEC's cryptocurrency enforcement crackdown will never end.
American Chamber of Digital Commerce Filed amicus brief in support of Coinbase
US Chamber of Digital Commerce has submitted a friend of the court statement in support of Coinbase in the SEC lawsuit. The goal is to end the SEC's actions in regulating the digital asset industry without legislative authorization. While Congress is studying solutions, the SEC's aggressive actions have stifled innovation. <br>
Blockchain groups argue SEC lawsuit against Coinbase is attempt to usurp Congress's authority
A group of blockchain advocacy organizations has come together to argue that the Securities and Exchange Commission's lawsuit against Coinbase is an attempt to exceed the authority of Congress. They are urging the judge overseeing the case to dismiss it. <br>
The SEC's main concern about spot ETFs is the potential market manipulation by giant whales
Ruslan Lienkha, the market director of YouHodler, stated that the SEC's main concern for spot crypto ETFs is the potential market manipulation by whales. In theory, this could happen if the SEC approves one or two ETFs for investment funds. However, if it decides to register all eight ETFs, it will greatly reduce the possibility of manipulation. <br>
SEC Delays Decision on Approval of Cathie Wood-led Ark Investment's Bitcoin ETF
SEC has postponed its decision on whether to approve the Ark Investment Management's spot bitcoin ETF led by Cathie Wood. The SEC is seeking public comment on the Ark 21Shares Bitcoin ETF application and may take several weeks or even months to make a decision. <br>
US SEC Seeks Comments on Ark 21Shares Bitcoin ETF Listing Proposal
On August 11th, the US Securities and Exchange Commission (SEC) solicited opinions on the proposal for the listing of the Ark 21Shares Bitcoin ETF.
XRP Lawyer: Excited About XRP Removal from Coingecko's Latest SEC Securities List
Lawyer John Deaton, who supports XRP, stated on Twitter that he was excited about XRP being removed from Coingecko's latest SEC securities list. He also stated that XRP is no longer on the SEC list today. Deaton compared this development to a situation three years ago when the SEC claimed that Ripple sold over 14.6 billion units of digital assets that were considered "securities".
US SEC Seeks Interlocutory Appeal in Ongoing Legal Battle Against Ripple Labs
The US Securities and Exchange Commission has filed a letter of intent to request an interlocutory appeal against Judge Analisa Torres's summary judgment in its legal battle against Ripple Labs. The SEC added that a timely appellate review is necessary given the number of pending actions that may be affected by the Court of Appeals' resolution. <br>
Ripple vs SEC Jury Trial Set for Spring 2024
Court documents released on Wednesday show that the Ripple vs SEC lawsuit is expected to be heard in the second quarter of 2024 in the Southern District of New York. Both parties have two weeks to submit their proposed deadlines to the court. The judge also added that Ripple and the SEC must file all pre-trial motions, documentary evidence, and motions to exclude jury evidence by December 4, 2023. <br>
