The value of ethereum (ETH), the second-largest cryptocurrency by market capitalization, has increased nearly 18% against the U.S. dollar due to speculation that the U.S. Securities and Exchange Commission (SEC) might approve some spot ether exchange-traded funds (ETFs). Market Buzz Lifts Ethereum to $3,691 On Monday, ethereum (ETH) reached an intraday peak of $3,691 per […] Source BitcoincryptoexchangeExchanges CryptoX Portal
Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only. Ripple, known for its XRP token, is back in the headlines, but this time, it’s about their upcoming stablecoin launch. Yep, you heard right. Ripple’s planning to drop its own stablecoin later this year, but it looks like they’ve caught the watchful eye of the SEC. Brad Garlinghouse, Ripple’s CEO, isn’t shy about calling out what he sees as the U.S. government’s overreach, especially concerning Tether, the giant in…
Ripple Labs has filed a motion to seal remedy documents in its ongoing litigation with the U.S. Securities and Exchange Commission (SEC). Ripple argues that these documents contain sensitive information, including proprietary business strategies, financial data, and internal communications. Public access to this information could give competitors an unfair advantage and damage Ripple’s market position. […] Source BitcoincryptoexchangeExchanges CryptoX Portal
If signed by U.S. President Joe Biden, the House resolution would disapprove of the bulletin and block the SEC from issuing any similar guidance in the future. The White House threatened to veto the resolution should it advance out of the Senate as well, saying it “reflects considered SEC staff views.” Source
In a recent motion to dismiss a case brought by the Securities and Exchange Commission (SEC), cryptocurrency exchange Kraken argued that the SEC’s legal theory misinterprets crucial aspects of the case. The court document, dated May 9, 2024, claims the SEC fails to identify legitimate investment contracts involved in the transactions on Kraken’s platform. Kraken […] Source BitcoincryptoexchangeExchanges CryptoX Portal
The crypto exchange Kraken is pushing back against claims made by the U.S. Securities and Exchange Commission (SEC). In November, the SEC charged Kraken with operating its crypto trading platform as an unregistered securities exchange, broker, dealer and clearing agency. Earlier this year, Kraken filed in US District Court to dismiss those charges, and the company provided additional arguments in support of that motion on Thursday. The exchange’s lawyers argue that the SEC’s argument would widen the definition of investment contracts and expand the regulator’s jurisdiction outside of its delegated responsibility.…
The U.S. Securities and Exchange Commission (SEC) has urged a federal court to deny Coinbase’s interlocutory appeal, following a recent court decision that allowed a lawsuit involving the SEC and the cryptocurrency platform to proceed. Last month, Coinbase sought appellate review after failing to get the case dismissed, marking a significant development in the ongoing […] Source CryptoX Portal
Wells Fargo, a major US banking entity, is now storing a spot bitcoin ETF for its customers, as revealed in a new SEC filing, holding 2,245 shares of the Grayscale Bitcoin Trust (GBTC), which was recently converted into an ETF. Though the value of these shares stands at $121,207, a small fraction of the bank’s […] Original
“Coinbase remains unable to advance a single, coherent version of this theory, which it now claims presents a controlling question,” the filing said. “This is unsurprising – in eighty years ‘no court’ has ever required post-sale ‘contractual undertakings’ or anything beyond the three factors expressly enumerated by the Supreme Court in Howey.” Source
“The SEC was created by Congress to enforce the Securities Act and Exchange Act, including the requirement that securities intermediaries register with the SEC,” the filing from April said. “In applying the Howey test in its determination that Kraken must register, the SEC is simply following its Congressional mandate.” Source