Tag: SEC

Blockchain Association throws support behind Ripple in SEC duel

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United States-based crypto advocacy group Blockchain Association has come out in support of Ripple Labs amid its ongoing legal battle with the Securities and Exchange Commission (SEC), claiming the case could be very important for the future of the crypto industry.  In an Oct. 28 post, the advocacy group announced it will “stand” with the American crypto economy by filing an amicus brief, also known as “friend of the court” in the SEC enforcement action against Ripple. Nearly two years ago, the SEC announced they were suing Ripple (XRP), former…

US Lawmakers Probe SEC, Treasury, Federal Reserve Over Revolving Door With Crypto Industry – Regulation Bitcoin News

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U.S. lawmakers have raised concerns about the revolving door between financial regulators and the crypto industry. “Over 200 government officials have moved between public service and crypto firms,” the lawmakers said, adding that they include 31 Treasury Department officials and 28 Securities and Exchange Commission (SEC) officials. Revolving Door Between Financial Regulators, Like SEC, and Crypto Industry Five U.S. lawmakers have sent a letter to seven financial regulators inquiring about measures they are taking to prevent the revolving door between their agencies and the crypto industry. The letters, dated Oct.…

Core Scientific Shares Downgraded After SEC Filing Hints at Possible Bankruptcy – Mining Bitcoin News

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One of the largest publicly listed bitcoin miners, Core Scientific, has shaken investors with a recent filing with the U.S. Securities and Exchange Commission that raises the possibility the company may apply for bankruptcy protection. The filing notes that Core Scientific will be unable to pay down debt payments due for Oct. and early Nov. 2022. SEC Filing Shakes Core Scientific Investors, CORZ Slides 97% in 12 Months Bitcoin miners are having issues after the price of bitcoin (BTC) has slid roughly 70% against the U.S. dollar since Nov. 10,…

Blockchain Association Supports Ripple’s Efforts Against SEC

The Blockchain Association filed an amicus brief in the case between the U.S. Securities and Exchange Commission (SEC) versus payment company Ripple. The motion is a tool a party uses to provide the court with additional information in support of the defendant, in this case, the payment company.  In late 2020, the Commission sued Ripple for the alleged offering of an unregistered security, XRP. The case has been paramount in defining the regulator’s stance on the crypto industry. Its outcome might affect the sector and related companies in the coming years. BTC’s…

Crypto Lobbyist Group Blockchain Association Asks Court for Permission to Support Ripple Against SEC Case

The SEC sued Ripple at the end of 2020 on allegations that it sold XRP as an unregistered security. The case has gone through a number of procedural motions since, and the parties recently filed their motions for summary judgement. On Friday, the Blockchain Association asked the court overseeing the case for permission to join the case, as well as the actual amicus brief. Source

US Judge Orders Bitcoin Ponzi Operator Imprisoned for Ignoring Court Order to Pay SEC $40 Million – Regulation Bitcoin News

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A district judge has ordered a bitcoin Ponzi operator to be arrested and imprisoned after he ignored multiple court orders and failed to pay the U.S. Securities and Exchange Commission (SEC) $40 million. He pleaded guilty to securities fraud in 2015. Bitcoin Ponzi Operator Faces Imprisonment After Failing to Pay SEC Judge Amos L. Mazzant of the U.S. District Court for the Eastern District of Texas said earlier this week that a bitcoin Ponzi operator will be arrested and imprisoned for civil contempt unless he immediately provides overdue documents and…

Ethereum at the center of centralization debate as SEC lays claim

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Ethereum went through a key network upgrade on Sept. 15, shifting from its proof-of-work (PoW) mining consensus to a proof-of-stake (PoS) one. The key upgrade is dubbed the Merge.  The Merge was slated as a critical change for the Ethereum network that would make it more energy efficient, with later improvements to scalability and decentralization to come. A little over a month later, however, some industry observers fear the PoS transition has pushed Ethereum toward more centralization and higher regulatory scrutiny. The Merge replaced the way transactions were verified on…

Bankrupt Crypto Hedge Fund Three Arrows Capital Probed by SEC, CFTC for Possible Legal Violations – Bitcoin News

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Reports indicate that the bankrupt crypto hedge fund Three Arrows Capital (3AC) is facing more trouble from liquidators and financial authorities from the U.S. Securities and Exchange Commission (SEC) and Commodity Futures Trading Commission (CFTC). The whereabouts of the hedge fund’s co-founders Su Zhu and Kyle Davis are still unknown and the court-appointed liquidator plans to leverage unorthodox means to send the two co-founders a subpoena. 3AC Is Allegedly Under Investigation by US Regulatory Watchdogs The co-founders from the troubled crypto hedge fund Three Arrows Capital (3AC) are reportedly being…

SEC, CFTC Probing Bankrupt Crypto Hedge Fund Three Arrows Capital: Report

The Singapore-based Three Arrows filed for bankruptcy in July, saying its business had “collapsed in the wake of extreme fluctuations in cryptocurrency markets.” In particular, the hedge fund suffered huge losses stemming from the collapse of the TerraUSD algorithmic stablecoin in May. At the end of June, the Monetary Authority of Singapore (MAS) reprimanded Three Arrows Capital for misleading it with allegedly false information. Source