Just as optimism was about to surge, clouds rolled in, pushing prices lower. Source
XRP's 'Bearish Skew' Persists Amid 10% Price Slide Following SEC Appeal and ETF Filing
Tag: SEC
Bitcoin (BTC) Price Flat Near $61K as Whales Continue to Accumulate; XRP Down 10% as SEC Appeals Case
BTC is flat, trading above $61,100, while ETH is down 4% and trading at $2,390. Crypto markets took a hit from Tuesday night after Irani airstrikes on Israel, which the latter has vowed to retaliate, in a move that has dented a rally in risk assets, including bitcoin. Original
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
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
Bitwise Makes XRP ETF Plans Official With SEC Filing
While the submission of an S-1 filing is the first step in introducing a fund, the document is basically meaningless if it isn’t followed by another filing, called the 19b-4, which is required to signal a requisite rule change at the stock exchange seeking to list the investment Source
Judge Sides With U.S. SEC in Case Alleging Defunct Mobile Wallet Platform Rivetz Sold Unregistered Securities
“The SEC shall confer with Sprague [Steven Sprague, CEO of Rivetz] and file a proposed judgment for injunctive and monetary relief on or before October 22, 2024,” Mastroianni said. “Sprague shall file any objections to the proposed judgment on or before November 5, 2024.” Source
Lawyer Expects SEC to Challenge XRP Ruling as Appeal Deadline Approaches
A former lawyer with the U.S. Securities and Exchange Commission (SEC) anticipates the agency will challenge Judge Analisa Torres’ decision regarding XRP in the Ripple lawsuit. The SEC views the ruling as flawed and is likely to submit an appeal before the approaching Oct. 7 deadline. Ripple XRP Case: SEC Expected to Appeal Judge’s Ruling […] Source CryptoX Portal
Ripple Vs. SEC Battle Far From Over As Regulator Opposes Court’s Decision
Este artículo también está disponible en español. The lawsuit between Ripple and the United States Securities and Exchange Commission (SEC) has in fact not ended, as new reports of the regulator possibly opposing the court’s decision have surfaced. If the SEC decides to proceed with the appeal, Ripple could be drawn into an even longer and more tedious legal dispute, extending the uncertainty about its regulatory clarity. Related Reading SEC May Appeal Ripple Court Ruling In an X (formerly Twitter) post on September 26, Fox Business journalist Eleanor Terrett revealed…