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 […]
Gary Gensler has described the cryptocurrency market as “rife with bad actors.” The top financial cop made the remarks in a January 8 interview with Bloomberg TV, in which he discussed the enforcement actions under his leadership and addressed persistent compliance issues in the crypto space. A Tenure Marked by Crypto Scrutiny In the sit-down […]
Gary Gensler has described the cryptocurrency market as “rife with bad actors.” The top financial cop made the remarks in a January 8 interview with Bloomberg TV, in which he discussed the enforcement actions under his leadership and addressed persistent compliance issues in the crypto space. A Tenure Marked by Crypto Scrutiny In the sit-down […]
A federal judge has allowed Coinbase to pursue an interlocutory challenge in the Second Circuit Court of Appeals in its ongoing case with the U.S. Securities and Exchange Commission (SEC), citing conflicting rulings on crypto’s legal status. Judge Katherine Failla granted the exchange’s appeal of her March 2024 order, which had denied the company’s motion […]