Tag: SEC

SEC vs Ripple referred to judge who ordered release of ‘Hinman Documents’

The next phase of the ‘SEC vs Ripple’ case is set to move forward as U.S. District Judge Analisa Torres of the Southern District of New York filed paperwork on July 17 referring the case to Magistrate Judge Sarah Netburn. First reported by journalist Eleanor Terrett, the court issued an “amended order of reference to a Magistrate” transferring judiciary oversight of the case to the Magistrate’s office: NEW: District Judge Torres has referred the @Ripple case to Magistrate Judge Netburn for General Pretrial (includes scheduling, discovery, non-dispositive pre-trial motions and…

SEC v. Ripple referred to judge who ordered release of ‘Hinman Documents’

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The next phase of the United States Securities and Exchange Commission (SEC) v. Ripple case is set to move forward, as Judge Analisa Torres of the U.S. District Court for the Southern District of New York filed paperwork on July 17 referring the case to Magistrate Judge Sarah Netburn. First reported by journalist Eleanor Terrett, the court issued an “amended order of reference to a Magistrate,” transferring judiciary oversight of the case to the magistrate’s office. NEW: District Judge Torres has referred the @Ripple case to Magistrate Judge Netburn for…

SEC Launches Review of Latest Bitcoin ETF Applications

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SEC appeal unlikely as it gains from ‘current confusion’ — Haun Ventures CEO

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A former federal prosecutor turned chief executive of a crypto-focused venture capital fund says she would be “surprised” if the United States securities regulator lodges an immediate appeal against the Ripple case ruling, as it currently benefits from lack of “legal clarity.” On July 13, Judge Torres granted a partial summary judgment in favor of Ripple Labs regarding XRP’s status as a security. At the time, a few commentators warned that an appeal from the SEC would be a possibility. However, in a July 15 Twitter thread, Haun Ventures CEO…

Ripple decision is ‘troublesome on multiple fronts’, says former SEC official

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Former Securities and Exchange Commission official John Reed Stark spoke out against the recent ruling on Ripple Lab’s case, calling the decision “troublesome on multiple fronts” in a LinkedIn analysis. Stark broke down Judge Analisa Torres’ decision from July 13 by examining the grounds upon which she ruled in favor of Ripple in a lawsuit brought by the SEC back in 2020, alleging that the company’s XRP (XRP) token was a security. Some thoughts on the SEC/Ripple decision. https://t.co/A94kHlGI9N pic.twitter.com/lcwWML49kO — John Reed Stark (@JohnReedStark) July 14, 2023 Judge Torres’…

Court Says SEC Could Have Informed Coinbase That Exchange Was Violating Securities Law Prior to Public Listing

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A New York federal judge says the U.S. Securities and Exchange Commission (SEC) could have given Coinbase a heads-up that it could be violating securities laws before approving its application to go public.  The SEC filed a lawsuit against Coinbase in June alleging that the Nasdaq-listed firm sold unregistered securities.  During the pre-trial conference, SEC counsel Peter Mancuso says the agency’s approval of Coinbase’s S-1 application to conduct an initial public offering (IPO) does not mean the commission ever gave its stamp of approval to the crypto exchange’s entire business.…

XRP ruling triggers crypto rally, SEC accepts bitcoin ETFs, Binance’s woes mount

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XRP ruled not a security, triggering a market-wide rally. Binance faces regulatory pressure with layoffs and legal disputes. Spot bitcoin ETFs gain recognition from SEC. Read these and other news in our weekly recap. In a groundbreaking ruling, Ripple emerged victorious in their SEC lawsuit as the judge declared that XRP is not a security. The market responded with a rally, led by XRP, while altcoins surged, sparking speculation of an impending altcoin season. Meanwhile, Binance found itself in the spotlight as reports of widespread layoffs emerged amid mounting regulatory…

SEC could be waiting ‘years’ to file appeal in Ripple case: Brad Garlinghouse

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Ripple CEO Brad Garlinghouse believes the United States Securities and Exchange Commission (SEC) will face a prolonged process before having the chance to appeal Judge’s Torres favorable ruling in the case against Ripple.  On July 13, Judge Torres ruled partially in favor of Ripple Labs in a case brought forth by the Securities and Exchange Commission in 2020, ruling that the XRP (XRP) token is not a security regarding retail sales on digital asset exchanges. However, Torres ruled that XRP is a security when sold to institutional investors, as it…

SEC accepts bitcoin ETF applications from BlackRock, Fidelity, Galaxy Digital

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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The SEC has initiated the acknowledgment process for spot bitcoin ETF applications. This sets the stage for the potential acceptance of the first such funds in the United States. The SEC has begun acknowledging these spot bitcoin ETF applications. ETF Research Analyst at Bloomberg Intelligence James Seyffart first noticed the move and took it to Twitter. The acknowledgment of applications included those from BlackRock, Fidelity, WisdomTree Funds, Invesco US, and VanEck. The list is published on…

SEC accepts BlackRock’s Bitcoin ETF application, signaling regulatory review

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The United States Securities and Exchange Commission (SEC) has accepted https://www.sec.gov/rules/sro/nasdaq.htm application for a spot Bitcoin (BTC) exchange-traded fund (ETF) following its acknowledgment of a similar application by Bitwise the day before. The SEC’s acknowledgment indicates the commencement of the official review process for BlackRock’s ETF proposal. While it is an initial step in a lengthy regulatory journey, it holds great importance for the Bitcoin community. The SEC’s readiness to explore the idea of a Bitcoin ETF and assess its potential market effects is evident from this acknowledgment. ETFs are…