Tag: SEC

Bitwise submits XRP ETF bid with SEC 

Bitwise has taken another step toward an XRP ETF with a formal Securities and Exchange Commission filing. On Oct. 2, crypto index fund manager Bitwise submitted a Form S-1 document with the U.S. SEC for an XRP exchange-traded fund, according to the regulator’s official website. A press statement from the company confirmed the filing, and Bitwise CEO Hunter Horsley said an XRP ETF would improve opportunity access for more crypto investors. At Bitwise, we believe blockchains will usher in new, apolitical monetary assets and permissionless applications for the 21st century.…

SEC enforcement director Gurbir Grewal resigns

Gurbir Grewal has resigned from the SEC after three years at the regulator and over 100 crypto-related enforcement actions. According to a U.S. Securities and Exchange Commission statement, Gurbir Grewal, the agency’s director of enforcement, will retire from the federal regulator on Oct. 11. Grewal led the watchdog to more than $20 billion in civil penalties and over 2,400 litigations. At least 100 of those cases involved suing crypto businesses, digital asset operators, and virtual currency purveyors for allegedly breaking federal securities laws. Recently, Grewal led the regulator’s enforcement division to…

Ripple XRP Case: SEC Moves To Appeal Court Ruling

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In a significant move that could reshape the regulatory landscape for XRP and blockchain payments company Ripple, the US Securities and Exchange Commission (SEC) announced on Wednesday that it is appealing the court ruling limiting its authority over crypto markets.  The appeal targets a July 2023 decision by US District Judge Analisa Torres, which determined that the XRP token, sold by Ripple Labs on public exchanges, does not qualify as a security under existing laws. SEC Appeals Court Ruling On XRP The implications of this ruling are substantial. Judge Torres…

SEC Files Notice of Appeal in Case Against Ripple

In July 2023, the judge ruled that while Ripple violated federal securities law through its institutional sales of XRP, its programmatic sales to retail exchanges did not violate securities rules. The SEC attempted to file an interlocutory appeal against the motion for summary judgement, but was denied by the judge. Source

SEC Enforcement Director Gurbir Grewal Is Leaving the Agency

“We have been incredibly fortunate that such an accomplished public servant, Gurbir Grewal, came to the SEC to lead the Division of Enforcement for the last three years,” SEC Chairman Gary Gensler said in a press statement. “Every day, he has thought about how to best protect investors and help ensure market participants comply with our time-tested securities laws. He has led a Division that has acted without fear or favor, following the facts and the law wherever they may lead.” Source