Former head of SEC Internet Enforcement Division: Newly released Department of Justice documents mark the end of Binance
A former internet enforcement official at the US SEC has warned that the newly released DOJ documents should signal the end of Binance. He noted that the US Securities and Exchange Commission has stepped up legal action against cryptocurrency exchanges.He added, "In my view, the collapse of the entire Binance defense trading is only a matter of time, which will lead to additional charges against Binance, additional charges against Zhao Changpeng, and new charges against anyone else (partners, customers, joint ventures, collaborators, etc.) who has any connection with the Binance criminal gang."
Bitcoin Spot ETFs Approach Critical Milestone: A Comprehensive Look at SEC Review Dates and Negotiations
The race to launch the first Bitcoin Spot ETF in the U.S. is heating up, with 13 institutions, including Switzerland’s Pando Asset, vying for a piece of the potentially billion-dollar pie. As the SEC review dates draw near, Reuters reported that the negotiations between the SEC and Bitcoin Spot ETF applicants have reached a stage of finalizing ‘key technical details’. This development signals a significant step forward towards potential SEC approval of Bitcoin Spot ETFs.
US SEC: Although Binance and the Department of Justice have reached a settlement, the lawsuit should continue to advance
The US Securities and Exchange Commission (SEC) stated that the recent $4.3 billion settlement agreement between Binance Holdings Ltd. and the US Department of Justice is a support for its lawsuit against Binance, as reported by Bloomberg. Although the SEC did not participate in the settlement agreement, Binance and Changpeng Zhao had previously requested the court to dismiss the SEC's lawsuit. Both Binance and Changpeng Zhao have not commented on this statement.
SEC lawyer says jury in Terraform Labs case has no authority to decide whether cryptocurrencies are securities
In documents submitted to the US Southern District Court of New York, the SEC argued that, according to the committee's guidance, the issue of whether cryptocurrencies qualify as securities is "a legal issue to be determined by the court, not by a jury." The SEC claims that the question of whether certain cryptocurrencies in the Terraform Labs case meet the standards for securities under the Howey test (the SEC's standard for determining what qualifies as a security) has sparked discussion, and SEC lawyers have asked the judge to determine whether certain digital assets are securities, rather than leaving it to a jury to decide.
The U.S. SEC will host a virtual compliance promotion program on December 7
Gary Gensler, Chairman of the U.S. Securities and Exchange Commission (SEC), stated that on Thursday, December 7th at 10:30 AM Eastern Time, the SEC, Municipal Securities Rulemaking Board, and Financial Industry Regulatory Authority will hold a virtual compliance outreach program for municipal market professionals.
Ripple Lawyer: Bought More XRP After SEC Sued Ripple
Ripple lawyer John E Deaton wrote on X platform that when I sued the SEC, SEC lawyers Jorge Tenreiro and others lied to the judge, telling him that I was a dissatisfied XRP holder, claiming that I was uneasy because I lost money by betting on the wrong token. The fact is, when the SEC filed the lawsuit, I had already made a lot of money on XRP. At that time, I owned three tokens, and XRP was my smallest investment after BTC and ETH. However, after the lawsuit, I did buy more XRP because I knew we would win, and it was like betting on myself, betting that the judge would follow the law.
Utah’s top judge says SEC lawyers may be sanctioned for “false statements” in crypto cases
A new court document shows that Robert J. Shelby, the chief federal judge in Utah, has ordered the Securities and Exchange Commission (SEC) to explain its statements made during the implementation and maintenance of the temporary restraining order (TRO) against the cryptocurrency company DEBT Box. The judge found that some of the SEC's statements regarding the order were "false or misleading" and that SEC lawyers may face sanctions.<br>According to federal rules cited by Shelby, sanctions "shall be limited to what is sufficient to deter repetition of such conduct," which may include monetary penalties but may also be limited to "non-monetary directives." SEC and its lawyers have 14 days to respond to Robert's order.
The New York Department of Financial Services may surpass the U.S. SEC to become the most influential crypto regulatory agency
New York Department of Financial Services (DFS) may ultimately surpass the US Securities and Exchange Commission (SEC) to become the most influential cryptocurrency regulatory agency. Adrienne Harris, head of the New York Department of Financial Services, said at the Washington Policy Summit hosted by the cryptocurrency industry trade organization Blockchain Association on Thursday that we currently have more than 60 people, which may be the largest cryptocurrency department in the world. We are also the only prudential regulatory agency with specific authority over cryptocurrency, and I attach great importance to this. I plan to continue to expand the team and deepen the state's cryptocurrency regulation.
Ripple Labs Legal Advisor: Don’t be intimidated when SEC comes knocking
Stuart Alderoty, Chief Legal Officer of Ripple Labs, stated on X platform that he believes the SEC is "bloated" and "in trouble," with the US Supreme Court ruling against the SEC multiple times in recent years. Additionally, Alderoty advises investors not to be intimidated when the SEC comes knocking.
The U.S. SEC met with 8 Bitcoin spot ETF applicants including Grayscale at the end of November
SEC stated that its trading and market division met with Bitwise, VanEck, Fidelity, and Invesco at the end of November regarding their respective proposals. The agency also met with 21Shares on behalf of Ark Invest's spot Bitcoin ETF proposal around the end of this month. The SEC does not appear to have met with WisdomTree, Valkyrie, or GlobalX regarding their respective spot Bitcoin ETF applications. Although the US Securities and Exchange Commission has disclosed several recent meetings, it has not publicly announced any plans to approve spot Bitcoin ETFs.
