Ripple Attorney Kylie Chiseul Kim Leaves Legal Team Amid Ongoing SEC Lawsuit
Ripple has suffered a setback in its legal battle with the SEC as one of its attorneys, Kylie Chiseul Kim, has resigned. The departure comes as the XRP community awaits a summary judgment ruling. Kylie's motion to leave the law firm representing Ripple was granted by the court, but her exit has left many wondering about the impact on the case. However, most believe her departure was unrelated to Ripple and did not reflect her view of the company's stakes in the lawsuit. Meanwhile, the crypto community is eagerly awaiting the unsealing of the "Hinman documents" on June 13, which could tip the scales in Ripple's favor.
Ripple CEO predicts resolution of SEC lawsuit in weeks, not months
Ripple CEO Brad Garlinghouse has given a new timeline for the resolution of the company's lawsuit against the United States Securities and Exchange Commission (SEC). Speaking at the Redefine Tomorrow 2023 summit, Garlinghouse predicted that the lawsuit would be resolved in weeks rather than months. This comes after Judge Torres denied the SEC's motion to seal William Hinman's documents, which are expected to be made public on June 13, 2023. Garlinghouse has previously predicted an end date for the SEC's legal battle and there is speculation that the decision to unseal Hinman's documents might prompt a settlement between the parties.
US Crypto Crackdowns Prompt Businesses to Consider Offshore Operations: CFTC Commissioner Cautions Against Perceiving the Agency as a "Light Touch" Regulator
The United States has witnessed a surge in regulatory actions against cryptocurrency, leading businesses to consider relocating their operations overseas.
Mark Cuban Criticizes SEC's Approach to Labeling Crypto Tokens as Securities, Predicts Future of Tokens in Defi
Mark Cuban, a billionaire and Shark Tank star, has criticized the SEC's approach to labeling crypto tokens as securities, arguing that it is ineffective. He believes that once tokens are in circulation and their issuers shut down, regulators are powerless. Cuban suggested that tokens may be released without a treasury, and the original entity dissolved. Meanwhile, the SEC has been targeting crypto exchanges for allegedly selling unregistered securities. Stay informed about the latest crypto opportunities with our updated list of presale projects and Telegram channels for 2023. Don't miss out on potential investments by staying up-to-date with this list.
Coinbase Pushes for Crypto Regulatory Clarity in United States amid SEC’s Enforcement Action
Coinbase and Ripple Labs are leading the push for clear cryptocurrency regulations in the United States, where companies have struggled to get regulatory clarity from the Securities and Exchange Commission (SEC). While other leading markets like European countries have already enacted clear crypto rules, most US-based crypto companies have opted to focus overseas for future growth prospects. Coinbase has filed a reply in the third circuit to the SEC’s argument against a petition for a writ of mandamus, stating that the need for the court’s intervention is much needed to compel the SEC in the rulemaking case. The SEC has taken more than ten months in issuing a reply to Coinbase’s claims, thus warranting the mandamus.
Coinbase Responds to SEC's Ignoring of Petition for Crypto Regulations Clarity
Coinbase, the largest crypto exchange in the US, has responded to the Securities and Exchange Commission (SEC) after the regulator refused to provide clarity on crypto regulations. The exchange had filed a petition in July 2022 asking for overdue guidance for the crypto industry, which was ignored by the SEC. In the latest court filing, Coinbase suggested that regulation by enforcement was the root of the problem, not the solution. The firm has asked the court to issue a writ of mandamus instructing the SEC to respond to the rulemaking petition within seven days or provide an explanation for the delay.
Australian Lawyer Explains How XRP Is Not a Security in Ongoing Ripple vs. SEC Lawsuit
Australian attorney Bill Morgan shared his views on the ongoing Ripple vs. SEC lawsuit on Twitter, stating that XRP cannot be classified as a security. He explained that if the judge rules that Ripple's sales of XRP to On-Demand Liquidity customers are not investment contracts, XRP would not be categorized as a security. Morgan also noted that digital assets could transition from being securities to non-securities based on economic reality, technology, the law, and the asset's legal classification in other jurisdictions. He further explained that the sale of XRP to ODL customers does not conform to the elements of the Howey Test, meaning that it cannot form an investment contract.
Coinbase Accuses SEC of Speaking Out of Both Sides of Its Mouth in Ongoing Lawsuit Over Digital Asset Regulation
Coinbase has responded to the U.S. Securities and Exchange Commission's lawsuit against the company by accusing the regulator of being wrong and speaking out of both sides of its mouth. The lawsuit centers around which digital assets should be considered securities and subject to SEC trading rules.
SEC May Have Underestimated Challenges in Legal Battle Against Ripple, Forbes Contributor Believes
Sam Lyman, a prominent speechwriter and Forbes contributor, believes that the U.S. Securities and Exchange Commission (SEC) may have underestimated the challenges it would face in its legal battle against Ripple.
Coinbase Files Writ of Mandamus Against SEC Over Lack of Regulatory Clarity for Cryptocurrency Businesses in the US
Coinbase, the leading cryptocurrency exchange, has taken legal action against the US Securities and Exchange Commission (SEC) by filing a writ of mandamus. The writ of mandamus is a legal petition that compels a government agency to fulfill its statutory obligations.
