The XRP token is already regulated as a commodity and the SEC “duplicates and compounds the regulatory burden” by saying it’s a security, Bitnomial said in a lawsuit. Crypto exchange Bitnomial sued the United States Securities and Exchange Commission and its five commissioners, accusing the a...
te with a special guestto reveal a unique way you can recession-proof your retirement. The years-long lawsuit launched againstXRP’s(XRP-USD) parent company,RippleLabs, has nowseemingly concluded. A ruling from a Manhattan judge that Ripple has been ordered to pay $125 million in penalti...
That case, of course, is the lawsuit brought in December 2020 by the SEC against the blockchain-based payments network. The Commission alleges that Ripple violated federal securities laws by selling more than $1.3 billion worth of XRP to investors without registering them as securities. Ripple ...
For XRP, the SEC move against Uniswap reinforced investor expectations of the SEC appealing the Programmatic Sales of XRPruling. In July 2023, Judge Analisa Torres ruled that programmatic sales of XRP do not satisfy the third prong of the Howey Test. The Wells notice was also a reality check...
The SEC has filed alawsuitagainst Ripple, its CEO Brad Garlinghouse and co-founder Chris Larsen. The latter duo is accused of having carried out unrecorded sales of securities worth $1.3 billion, via XRP.“Ripple has raised funds, starting in 2013, by selling digital assets known as XRP in...
The SEC’s actions on Ripple began in December 2020 when the commission filed a lawsuit against Garlinghouse, Larsen, and the company largely over sales of its XRP tokens, which the commission also claimed were securities. In July, a federal judgeruled that XRPwas not a security when sold to...
The SEC’s involvement in the Ripple case began in December 2020 when it filed a lawsuit against Garlinghouse, Larsen, and Ripple, primarily focusing on the sale of XRP tokens, which the commission had asserted were securities. In a significant ruling in July, a federal judge concluded that ...
Securities and Exchange Commission Chair Gary Gensler seems to have a personal vendetta against the crypto industry. From digital asset staking to the Ripple (XRP) lawsuit, Gensler is bringing the regulatory hammer down on crypto firms. Most blockchain enthusiasts consider SEC chair Gary Gensler a...
Crypto lawyer John Deaton cited several instances where major crypto players like Coinbase reached out to the SEC for regulatory clarification before listing XRP, but didn’t face any objection. Author:PANews This content is only to provide market information and does not constitute investment advice...
Several events may impact SEC plans to appeal against the Programmatic Sales of XRP ruling. These include. Investors await a court ruling on the Coinbase (COIN)motion for interlocutory appeal. Coinbase filed the motion for interlocutory appeal to contest the courtrejection, in large part, the mo...