The U.S. Securities and Exchange Commission (SEC) has willingly withdrawn its appeal of a ruling that blocked its attempt to expand securities laws to cover decentralized finance (DeFi). This development means the DeFi space might no longer be subjected to securities laws. A Complete Victory for DeFi In a February 19 motion filed with the […]
The SEC is scaling back its special unit of more than 50 lawyers and staff members that were responsible for bringing crypto enforcement actions, according to a Feb. 4 New York Times report citing people with knowledge of the matter. Some of the lawyers in the crypto enforcement unit are being assigned to other departments […]
The Thailand Securities and Exchange Commission (SEC) is preparing to implement a DLT-based debt instrument trading system. The main objective is to encourage securities firms to engage in digital token trading. According to Jomkwan Kongsakul, who happens to be the deputy secretary-general of the SEC, the regulator has already approved four digital token projects and […]
TL;DR The SEC doubled down on its appeal against the 2023 ruling favoring Ripple, while the non-profit organization Better Markets sided with the regulator, arguing that XRP is a security. With pro-crypto Mark Uyeda replacing Gary Gensler at the SEC, analysts speculate on potential outcomes that could favor Ripple. The Tussle Goes on While the […]
Former Securities and Exchange Commission (SEC) Chair Gary Gensler’s return to his old MIT haunt has ignited backlash from a section of the crypto industry. Gensler previously taught at the university before leading the SEC, where he became deeply unpopular for his strict regulatory approach. MIT Welcomes Back Gensler, But Crypto Leaders Push Back On […]
After four years of steering crypto regulations and financial market oversight, former U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is returning to the Massachusetts Institute of Technology (MIT). According to a January 27 statement from the research university, his focus will now shift to artificial intelligence (AI), fintech, finance, and public policy. Gensler’s […]
In a leadership shakeup at the Commodity Futures Trading Commission (CFTC), Acting Chair Caroline Pham appointed Harry Jung as Acting Chief of Staff on Wednesday. Jung, who previously served as Pham’s Counselor and Senior Policy Advisor, will lead the agency’s crypto and digital assets engagement and will build on his experience at Citigroup and prior […]
Better Markets, a non-profit advocating for financial reform, has filed an Amicus brief supporting the U.S. Securities and Exchange Commission (SEC) in its ongoing legal battle with Ripple Labs. The organization argues that a prior decision by the District Court for the Southern District of New York undermines investor protections. Ripple’s Victory Under Scrutiny In […]
Dubai-based crypto market maker CLS Global will plead guilty to charges related to wash trading on the decentralized exchange Uniswap. Federal prosecutors in Boston announced Wednesday that the company will face market manipulation and wire fraud charges after falling victim to an FBI sting operation. $428K Fine and U.S. Market Ban As part of the […]
XRP is the best-performing asset in the crypto top 50 by market capitalization, with a gain of more than 13% on the day. As a result, the cross-border payment token reached an intraday high of $2.87 during trading in Asia on Wednesday morning. XRP has neared its peak from this cycle, which was close to […]