Tag: SEC

Which altcoins will survive the SEC crackdown? Bitcoin OG explains

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Proof-of-work coins that had a fair distribution at their launch are the most likely to avoid being labeled as securities by the U.S. SEC, according to Bitcoin OG and educator Dan Held.  Last week, the SEC sued Binance and Coinbase, accusing them of offering a number of altcoins as  unregistered securities. As a result, many of the tokens mentioned in the lawsuit were delisted by major trading platforms which made their price tank. According to Held, Tokens that “had fair or transparent launches”, such as Litecoin, Dogecoin and Monero, do…

Implications for XRP, SEC credibility and more

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The Hinman documents were finally unsealed and made publicly available on June 12 after a lengthy back and forth between Ripple and the United States Securities and Exchange Commission (SEC), but what exactly do they reveal? The documents are extensive, and while they can be found in public resources like the Public Access to Court Electronic Records (PACER) or CourtListener, lawyer James Filan tweeted on June 13, compiling them into two URLs. #XRPCommunity #SECGov v. #Ripple #XRP Here are the Hinman documents, by Exhibit number, in one place. https://t.co/6kUYZ1X2WKhttps://t.co/wZQmalfFkS —…

Crypto lobbyists seek SEC info on regulatory approval for Prometheum

The Blockchain Association, a prominent US crypto lobbying group, has lodged a formal inquiry with the US Securities and Exchange Commission (SEC) to acquire information about the relatively unknown crypto firm, Prometheum. This move comes after Prometheum’s CEO, Aaron Kaplan, recently testified at a House hearing, expressing support for regulating cryptocurrencies under securities laws, in contrast to other industry proponents. On June 15, Marissa Coppel, counsel for the Blockchain Association, expressed skepticism about Prometheum’s regulatory approval as a special purpose broker-dealer (SPBD) for digital assets, especially given the SEC’s ongoing…

SEC argues against Dentons’ motion to dismiss Terraform and Do Kwon’s lawsuit

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The lawyers representing the United States Securities and Exchange Commission (SEC) have contended that the additional documents submitted by Dentons, the legal counsel for Terraform and Do Kwon, in support of their motion to dismiss the lawsuit, lack adequate support for dismissing the case. The SEC’s counsel asserts that the Binance.US transcript and internal SEC emails, presented by the defense, hold no relevance to the current case. They argue that the Howey Test clearly defines the parameters of an “investment contract” and contend that UST should be classified as a…

Mark Cuban takes on SEC, John Reed Stark and ‘crypto derangement syndrome’

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Crypto Twitter was witness to a fierce debate this wee, with billionaire investor Mark Cuban accusing SEC’s Gary Gensler of throwing crypto under the bus while a former SEC official was quick to come to the regulator’s defense. In a spirited, back-and-forth exchange on Twitter with former SEC officer John Reed Stark that started on June 14, Cuban took issue with Stark’s seeming defense of the SEC’s recent legal action against crypto exchange giant Binance. Cuban accused Stark of misinterpreting the impact of the case and blamed SEC Chair Gary…

Mark Cuban calls for simplified SEC crypto regulations

Mark Cuban has recently aired his concerns over the complex and ambiguous nature of current SEC regulations concerning cryptocurrencies and related startups. Renowned billionaire investor, Mark Cuban, has voiced criticism over the Securities and Exchange Commission’s (SEC) handling of crypto regulations. In his perspective, the current approach leaves innovators and emerging businesses in the crypto space lacking clear guidance. According to Cuban, the existing rules for startups, particularly in the sphere of web3, are unnecessarily complex. The tech mogul is suggesting a reform where the SEC and Congress design a…

U.S. Court Will Rule on Terraform Labs’ Push to Dismiss SEC Lawsuit Within a Month

CryptoX – Cryptocurrency Analysis and News Portal Senior Judge Jed Rakoff, of the U.S. District Court for the Southern District of New York, questioned whether there was a major questions issue, saying Congress intended to give the SEC broad regulatory authority when drafting the laws overseeing the agency. Original Source The post U.S. Court Will Rule on Terraform Labs’ Push to Dismiss SEC Lawsuit Within a Month appeared first on CryptoX. CryptoX Portal

Fed, SEC investigate Goldman Sachs over Silicon Valley Bank’s securities portfolio: Report

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Goldman Sachs is currently facing scrutiny from the Federal Reserve and Securities and Exchange Commission (SEC) regarding its involvement in the purchase of Silicon Valley Bank’s securities portfolio prior to the bank’s collapse, The Wall Street Journal has reported, citing sources familiar with the matter. Breaking: Goldman Sachs is being investigated by the Federal Reserve and the Securities and Exchange Commission over its role in Silicon Valley Bank’s final days https://t.co/L7buF8TfvX — The Wall Street Journal (@WSJ) June 15, 2023 According to the report, both agencies are investigating Goldman Sachs’ actions…