SEC wants to find out how important XRP is to Ripple
TL;DR Breakdown Ripple Co-founder, Christian Larsen, accused of moving XRP. The SEC reveals it has proof to support its claim. The regulator says it wants to know whether Ripple executives are making personal gains from XRP. SEC says it has evidence against Ripple executive In a seemingly escalating suit between the SEC and Ripple Lab […]
Ripple lawsuit: Ripple wants documents concealed
TL;DR Breakdown Ripple asks the magistrate judge to keep some of its documents sealed. The company claims it has produced 30,300 documents amid lawsuit. As the legal battle between Ripple Labs and the SEC continues to heat up, the case becomes more interesting. During the last hearing, Judge Sarah Netburn made some comments which fans […]
LBRY charged with sale of unregistered securities by SEC
TL;DR Breakdown LBRY charged by SEC. The defendant says it has done no wrong. They appeal to Americans to help save the cryptocurrencies. SEC moves against LBRY The US regulatory agency, the Securities and Exchange Commission (SEC) has charged LBRY, for violating securities. SEC stated on its website that LBRY did not submit a […]
SEC targets NFTs, sends demands for information about projects
TL;DR Breakdown • Crypto-Mom, an SEC subsidiary, talks about the buy/sell method on Metapurse.• US commissioners ask NFT investors to beware of scalping. The top US regulator SEC seems to target the non-fungible token market recently. The regulator has been involved in the crypto world to prevent scams, Ponzi methods, and other senseless investments. However, […]
Crypto whales accumulate $708M in XRP as speculators storm the market
TL;DR Breakdown XRP’s recent outperformance has been largely attributed to Ripple’s preparations for its legal battle Brad Garlinghouse denies presence of an anonymous backer for court expenses. Crypto whales have been busy accumulating Ripple (XRP) in recent months, with over $708 million worth of the digital asset bought in January alone, according to data provider […]
Is SEC investigating Elon Musk’s new haircut?
TL;DR Breakdown SEC to open an investigation into Elon Musk’s new haircut A bizarre investigation against the Tesla Chief gains the spotlight The agency continues to have a deterred relationship with the crypto community. Sources within the US Securities and Exchange Commission alleged that the government agency reportedly rolled out an investigation into Elon Musk’s […]
XRP lawsuit update: Is the SEC biased towards Ethereum?
TL;DR Breakdown: The SEC denies any public statement on Ether. The community thinks the commission is favoring ETH over XRP. Leaked emails show the SEC resisting any clear statement on Ethereum’s security status. The SEC has been heavily criticized for its ongoing lawsuit against XRP, the native token of the Ripple network. A recently leaked […]
Ripple vs SEC: Guidelines and Clarifications
As the Ripple vs SEC argument continues to a day ago, the argument by the plaintiff goes: If the SEC truly believed what it’s alleged, why are Ripple and its co-founder allowed to continue to sell? If XRP traded in the secondary market is an investment contract with Ripple as the SEC claims, why didn’t […]
Bitcoin price may break $60k level despite crypto bloodbath; reasons?
TL;DR Breakdown Cryptocurrencies plunged on Tuesday, with Bitcoin price sliding towards the $60,000 level and Ether close to its lowest levels of November Analysts attribute this broad market dip to new tax-reporting rules stated in the Infrastructure Bill which Joe Biden signed into law on Monday Another reason for the huge sell-off is speculated to […]
Crypto advocates debate SEC measures against Bitcoin exchange funds
TL;DR Breakdown • Some crypto advocates believe that the US Securities Commission is manipulating the BTC trade.• After the SEC rejection of a new exchange fund, the Bitcoin price was not affected. After the SEC in the United States rejected Vaneck’s bitcoin spot market exchange-traded fund last Friday, the crypto advocates have been giving their […]
Van Eck frustrated by SEC’s Nov 12 Spot BTC ETF Snub
TL;DR Breakdown The US Securities and Exchanges Commission (SEC) has rejected VanEck Funds’ application for listing a Bitcoin (BTC) Spot Exchange Traded Fund (ETF). The decision has left Jan Van Eck, the fund’s chief executive, frustrated.’ The SEC has left Jan Van Eck, chief executive of VanEck Funds, a frustrated man. He’s frustrated because the […]
Securities and Exchange Commission extends four Bitcoin ETF deadlines by 45 days
TL;DR Breakdown The Securities and Exchange Commission of the US has extended four Bitcoin ETF approval deadlines. Analysts expect SEC would be ready to accept a Bitcoin ETF by the end of October. On Friday, the United States Securities and Exchange Commission (SEC) announced that it has decided to extend the deadline of four Bitcoin […]
US legislator Patrick against SEC crypto regulation move
TL;DR Breakdown Rep. Patrick McHenry against SEC move for more power to regulate crypto SEC chairman, Garry Gensler wants more protection for crypto investors Patrick propose joint taskforce of SEC, CFTC other regulators to regulate crypto US legislator Patrick McHenry has opposed the Security and Exchange Commission (SEC) chairman’s recent move for more power so […]
Gary Gensler wants more crypto regulatory power for the SEC
TL;DR Breakdown SEC chair sends letter to senator Warren on crypto regulation. Gensler expresses worry about limited protection for crypto investors. In another attempt to put the crypto industry under control, Gary Gensler, chairman of the Security and Exchange Commission (SEC) has sent a letter to Senator Elizabeth Warren highlighting that investors in the crypto […]
Binance document approved for use by Judge in Ripple vs. SEC case
TL;DR Breakdown Judge grants Garlinghouse request for Binance document to aid his defense. Binance to yield document to court after court sends order to exchange. Upon the request of Bradley Garlinghouse, the Chief Executive Officer (CEO) of Ripple Lab, a Binance document to be used in his defense against the Security and Exchange Commission (SEC), […]
Gary Gensler, SEC chairman, expresses more worry on crypto
TL;DR Breakdown Gary Gensler worried about weak crypto regulation. SEC chair says many crypto tokens are unregistered. He claims there is a void that needs to be filled with crypto regulation. The chairman of the American Security and Exchange Commission (SEC), Gary Gensler, has expressed more worry on cryptocurrencies and their regulation in the country […]
Binance exchange dragged into SEC vs. Ripple legal war
TL;DR Breakdown Ripple wants Binance evidence in lawsuit against SEC SEC vs Ripple becomes one of th biggest crypto court cases The ongoing legal battle between US regulators, Security and Exchange Commission (SEC), and Ripple lb, developers of XRP crypto, has soaked in Binance exchange, the number one crypto firm. The exchange firm has been […]
Robinhood struggles with SEC investigation
TL;DR Breakdown • Cryptocurrency platform Robinhood delays its IPO project to July.• The company is investigated by the SEC for high-risk investments. One of the significant cryptocurrency trading websites, Robinhood, has been under investigation by the SEC. The US regulator opens an investigation into its initial public offerings. The North American Securities and Exchange Commission […]
SEC to partner other regulators to protect crypto investors
TL;DR Breakdown SEC ready to partner other regulators for effective monitoring of the crypto space. Challenges faced by SEC in crypto regulation. Gary Gensler, the newly appointed chairman of the Securities and Exchange Commission, has said the regulator is ready to cooperate with other regulators to perform oversight functions on crypto exchange firms effectively. He […]
XRP lawsuit: Legal battle between Ripple and the SEC continues
TL;DR Breakdown Ripple has vehemently denied allegations leveled against the firm by the SEC. XRP tipped to win drawn out legal tussle. The cryptocurrency XRP has been going through difficult moments due to its legal battle with the SEC. The Securities Exchange Commission sued Ripple for implementing marketing strategies to increase the asset. This lawsuit […]
XRP ledger that supports CBDC coming soon
TL;DR Breakdown Central Banks could leverage Ripple’s XRP ledger interoperability. CBDCs continue to gain worldwide acclaim. Ripple undeterred despite legal battle with U.S. SEC. With the world edging closer to the creation and adoption of Central Bank’s Digital Currencies (CBDC), the Ripple team have announced that it is on course to introduce an XRP ledger […]
Crypto Industry’s future: Will President Biden’s new appointees affect it?
TL;DR Breakdown President Biden’s new appointees would shape the crypto industry for the next four years. Janet Yellen, the new Treasury Secretary, says it is essential to build a framework that would facilitate the legitimate use of Bitcoin. Gary Gensler is yet to be confirmed as the chairman of the SEC. Since his ascension into […]
Biggest Bitcoin exchange in Brazil pushing to expand across Latin America
TL;DR Breakdown Mercado Bitcoin exchange wants to expand across South America. The exchange raised over $35 million in funding The largest Bitcoin exchange in Brazil, Mercado Bitcoin, has announced its intention to spread its tentacles over South America. This was made known by Reinaldo Rabelo who is the CEO of the crypto exchange firm. According […]
OKEx hires legal counsel to resume withdrawals
OKEx hires an external legal counsel to continue with withdrawals that were once put to a stop. The withdrawals were prohibited on the 16th of October 2020. The update was announced today. OKEx hires legal counsel to resume withdrawals OKEx hires an external legal counsel to continue with withdrawals that were once put to a […]
USA votes to amend complex securities
USA hosted a vote today to fix the complex procedures for security offerings that businesses and entrepreneurs face. The reforms should ensure that there is more congruency within the framework so that companies do not struggle to operate while keeping investors safe from harm’s way. The US explained that the adjustments should fill gaps and […]
Desperate Harvest Finance offers $1 Million Bounty for Hacker
Harvest Finance put out $1 million bounty for Hacker Hacker stole over $24 million in crypto from customers Controversial DeFi exchange Harvest Finance has now offered a bounty of $1 million to whoever can give them the hacker(s) identity responsible for the October 26th theft of over $24 million in cryptocurrency from their customers’ crypto-wallets. […]
Blockchain trading system 1 step away from Australian Securities Exchange (ASX) approval
Australian stock exchange company says its blockchain offering will soon be connected to the ASX NSX has gained approval for the use of its blockchain trading services from Australian regulators The stock exchange company trading system had been due to launch in early 2021 ASX is likely to change Australian stock trading with this venture […]
OCC Guidance Letter – Stablecoin reserves custody allowed to the US banks
OCC has announced that stablecoin issuers are now allowed to deposit reserves at federal banking institutions SEC specifies that they must be structured and sold as securities, and promises leniency if issuers approach them for assistance These actions provide much necessary regulatory guidance to the industry The Office of the Comptroller of the Currency (OCC) […]
US SEC sets bidding war for blockchain forensics tool to analyze smart contracts
The United States of America Securities and Exchange Commission (SEC) has announced that small companies will be favored in a bidding war to create a blockchain forensics tool, set to happen soon. This came after the announcement that SEC will purchase a blockchain forensics tool to help them in their bid to analyze smart contracts. […]
US DOJ seizes unlicensed Bitcoin ATM machines linked to money laundering
On Wednesday, it was announced by the U.S. Department of Justice (DOJ) that a California man, Kais Mohammad, admitted to operating an unlicensed bitcoin ATM network that “laundered millions of dollars of bitcoin and cash for criminals’ benefit.” The 39-year-old owned and operated an unlicensed bitcoin money service business called Herocoin where he offered to […]
