Tag: SEC

Bitcoin price gets new $25K target as SEC decision day boosts GBTC

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Bitcoin (BTC) ranged around the key $26,800 mark for a second day on Oct. 13 with a decision due in United States regulators’ battle with crypto investment giant Grayscale. BTC/USD 1-hour chart. Source: TradingView Bitcoin lurks between major liquidity clouds Data from Cointelegraph Markets Pro and TradingView confirmed that the BTC price barely changed from the day prior, acting in a narrow corridor. Bitcoin market analysts weighed potential catalysts, among these the U.S. Securities and Exchange Commission (SEC) choosing whether or not to appeal a court ruling over its refusal…

What happens if SEC doesn’t appeal Grayscale spot Bitcoin ETF ruling?

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The United States Securities and Exchange Commission will soon reach its deadline to appeal the court decision that ruled in favor of Grayscale Investments, forcing the regulator to review the fund manager’s application for a spot Bitcoin (BTC) fund. While many observers don’t believe the securities regulator will attempt to appeal the court’s decision, analysts say there could still be ways for the SEC to delay approval of Grayscale’s spot Bitcoin ETF conversion. On Oct. 13, the SEC must either appeal the D.C. Circuit Court of Appeals decision to the…

House committee chairman threatens SEC chair with subpoena, but not over crypto

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James Comer, chair of the United States House of Representatives Oversight and Accountability Committee, has threatened Securities and Exchange Commission (SEC) chair Gary Gensler with a subpoena. He wrote in the letter dated Oct. 12, that the committee will have “no choice” but to use compulsory measures to obtain documents if the SEC does not start cooperating with it. Comer also expressed concern about SEC “actions taken to circumvent Congress to further an agenda that harms American taxpayers.” Cryptocurrency proponents in Congress have often complained about Gensler in similar terms,…

Circle admitted by judge as amicus curiae in SEC vs Binance lawsuit: Report

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A senior judge in the Columbian district court has reportedly signed multiple orders to clear pending motions in the ongoing lawsuit filed by the United States Securities and Exchange Commission against the crypto exchange Binance ahead of the crucial hearing. Among the key orders, the judge cleared an amicus brief filed by USD Coin (USDC) stablecoin issuer Circle right before the key hearing on Oct. 12. Circle filed a court motion on Sept. 29 in the ongoing SEC vs Binance lawsuit and had argued that assets pegged to the U.S.…

BarnBridge DAO votes to adhere to SEC ruling

BarnBridge DAO, which runs a small DeFi protocol, has concluded its voting process on addressing potential demands from the U.S. Securities Exchange Commission (SEC). The vote, which ended on Oct. 12, resulted in a unanimous decision to comply with any forthcoming SEC requirements and to pay fines if necessary. Tyler Ward and Troy Murray have been appointed as special delegates to liaise with the SEC on behalf of the DAO. Douglas Park will continue to serve as the DAO’s legal counsel and is authorized to sign the final version of…

Did Ethereum Bribe The SEC To Go After XRP?

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Cardano founder Charles Hoskinson recently gave his thoughts on whether the US Securities and Exchange Commission (SEC) had given Ethereum a regulatory free pass as recent rumors suggest.   Cardano Founder Alleges Favoritism Toward Ethereum In an AMA session shared on X (formerly Twitter), Hoskinson mentioned that the Himman emails and other revelations expose the thought process of the SEC and show that there was unequal application, which he doesn’t see anything wrong with. Furthermore, he believes that none of the Commission’s actions presupposes corruption but only favoritism.  It is worth…

BarnBridge DAO votes to comply with SEC order

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BarnBridge decentralized autonomous organization’s (DAO) members have conducted their voting on how to react to the United States Securities Exchange Commission’s (SEC) potential demands.  The voting ended on Oct. 12 with an unanimous decision to comply with the SEC’s potential demands and pay fines if necessary. Tyler Ward and Troy Murray were nominated as DAO’s special delegates for dealing with the regulator. At the same time, Douglas Park remains the DAO’s legal counsel and will sign the final version of the Order on behalf of BarnBridge. Voters have also let…

DeFi Protocol BarnBridge Prepares for SEC Action, Fines

The proposal includes provisions that would liquidate the treasury “and allow Ward and Murray to distribute the tokens,” although it does not say to whom. BarnBridge’s treasury sits above $200,000 in various cryptocurrencies according to public data on two wallets. Some of that cash is also earmarked for legal expenses by the proposal. Source

Judge sides with Ripple again, denies SEC appeal: Law Decoded

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On Oct. 3, United States District Court Judge Analisa Torres rejected the U.S. Securities and Exchange Commission’s (SEC’s) motion to appeal its loss against Ripple Labs, the company behind the XRP (XRP) cryptocurrency. Torres denied the SEC’s motion, claiming the regulator failed to meet the burden to show that there were controlling questions of law or substantial grounds for differences of opinion on the matter.  The regulator appealed against the court’s July decision declaring that retail sales of the XRP token did not meet the legal definition of a security.…

Ripple’s chief financial officer steps down amid SEC lawsuit

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Kristina Campbell, the chief financial officer of Ripple, has left the crypto payments platform for a comparable position at the virtual healthcare provider Maven Clinic. According to Campbell’s LinkedIn, her employment at Ripple ended in October after more than 2 years without explanation other than a “memorable” time at the crypto firm. She joined Ripple in April 2021 after more than 4 years as CFO at payments platform PayNearMe. “While healthcare is a complex, highly-regulated industry like fintech, it’s new to me,” said Campbell in an Oct. 7 post. Campbell’s announcement…