The Financial Innovation and Technology for the 21st Century Act passed out of committee in July 2023 but could be headed for a full floor vote in the U.S. House of Representatives.
Coinbase hasn't successfully argued that an appeals court needs to look at how securities regulations might apply to digital assets, the U.S. Securities and Exchange Commission (SEC) said Friday.
The CFTC warned of another cycle of enforcement actions against crypto firms as investor interest rises.
Lawyers of crypto exchange Kraken have told a U.S. court that claims by the U.S. Securities and Exchange Commission (SEC) against it should be dismissed to avoid a "significant reordering" of the U.S. financial regulatory structure, according to court filings submitted in the Northern District of California on Thursday.
As Robinhood continues to traverse the complexity of the financial regulatory landscape, Vlad Tenev the company’s Chief Executive Officer (CEO), has taken center stage to address the Wells Notice receipt from the United States Securities and Exchange Commission (SEC) regarding its cryptocurrency business. Tenev’s response to the SEC’s Wells Notice highlights the firm’s commitment to […]
Crypto wallet provider Exodus said the US Securities and Exchange Commission (SEC) made a “surprising last-minute decision” that delayed its planned listing on the NYSE American Stock Exchange, according to a May 9 statement. NYSE said the SEC halted the listing because the financial regulator’s staff are still reviewing Exodus’s registration statement. Exodus added: “We’re […]
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Ripples of uncertainty continue to surround XRP, the cryptocurrency created by Ripple Labs. Once a high-flyer, XRP has seen its price plummet amidst a protracted legal battle with the US Securities and Exchange Commission (SEC). But even as dark clouds loom, some analysts see a silver lining, predicting a future surge for the digital asset. Related Reading: Forget The Price Dip: Ethereum Network Activity Hints At Imminent Takeoff A Legal Tug-of-War Dampens XRP Price The SEC lawsuit, filed in December 2020, alleges that the altcoin is an unregistered security. This classification, if upheld, could severely restrict XRP’s trading and dampen its value. The legal wrangling has taken its toll, with its price dropping a staggering 84.7% from its 2018 peak of $3.40. The recent months haven’t offered much respite, with XRP experiencing a near 20% decline in the last 30 days alone. Technical Indicators Flash Red In The Short Term Technical analysis, a method used to predict price movements based on historical data, paints a concerning picture for XRP in the immediate future. Analysts point to recent price chart breakdowns, suggesting continued downward pressure. XRP 30-day price action. Source: CoinMarketCap A Bullish Case For XRP Despite the current headwinds, some analysts remain optimistic about the coin’s long-term prospects. Armando Pantoja, a well-respected crypto analyst, believes XRP has the potential to reach between $8 and $20 by 2026. This would represent a phenomenal increase of up to 3,557.6% from its current price. $XRP true value is $8-$20 by 2026. It’s the easiest trade of my life. 1. Historical Precedent Powerhouse 2. Institutional Adoption Tsunami 3. Market Trends and Utility Explosion 4. Future Financial Services Demand 5. Legal Clarity & Partnerships will Boom pic.twitter.com/fv2WlkuNHk — Armando Pantoja (@_TallGuyTycoon) May 7, 2024 Pantoja bases his bullish prediction on several factors. He points to XRP’s historical performance, highlighting its meteoric rise in 2017, where it surged over 650 times to its peak. This, according to Pantoja, serves as a precedent for future growth. Institutional Adoption Another factor fueling optimism is Ripple’s growing list of partnerships with established financial institutions. Integration with giants like Bank of America and Royal Bank of Canada could significantly boost the altcoin’s value by increasing its utility and mainstream adoption. Recent collaborations with HashKey DX and SBI Ripple Asia further bolster the case for institutional acceptance, potentially propelling XRP’s price upwards. XRP market cap currently at $28.7 billion. Chart: TradingView.com Upgrades To The XRP Ledger Ripple hasn’t been sitting idle either. Through its development arm, RippleX, the company has introduced key upgrades to the XRP Ledger (XRPL), the technology that underpins XRP. Notably, the XLS-68d specification allows platforms to cover transaction fees for users without distributing free coins. This simplifies the onboarding process and could attract new users to the XRP ecosystem. Market Trends And Community Optimism Pantoja also emphasizes broader market trends that could benefit XRP. The increasing demand for efficient financial services could create a perfect storm for XRP’s adoption. Additionally, Pantoja anticipates a legal victory for Ripple, paving the way for further partnerships and market expansion. Related Reading: Whispers In The Deep: Why Are Ethereum Whales Disappearing? The XRP community itself seems to echo this optimism. Social media engagement surrounding the altcoin has spiked, and the number of total holders and active addresses continues to rise. This suggests that despite the current challenges, many investors remain confident in XRP’s long-term potential. Featured image from Wikipedia Commons, chart from TradingView
After the U.S. House of Representatives postponed proceedings on a resolution overturning an SEC policy affecting crypto, President Joe Biden said he would veto the measure.
SIBAN’s executive secretary, Rume Ophi, stressed that Binance should reveal names to substantiate the claim and allow authorities to address wrongdoing.
The SEC argues that Ripple’s claims do not negate the need for injunctions to prevent future violations.
Last month, Ethereum incubator ConsenSys sued the U.S. Securities and Exchange Commission (SEC) for an injunction asking a federal court to block the regulator from investigating its MetaMask offering or from declaring Ether (ETH) a security. It's the latest company to follow a growing trend of preemptive litigation against the SEC.
The Securities and Exchange Commission (SEC) has submitted its remedies reply brief in its ongoing legal battle with Ripple Labs, accompanied by supporting exhibits. This filing marks a pivotal moment in the litigation as it is the final brief before Judge Torres will make her remedies ruling. SEC Files Final Brief As Decision Day Looms For […]
Lawyers for the commission cited several examples of Do Kwon touting UST to U.S. investors and Terraform’s former communications head making false claims about the stablecoin.
Former SEC official John Reed Stark has criticized the misuse of “regulation by enforcement” claims in a hearing before U.S. Congress.
Nigeria’s SEC is set to launch a new regulatory framework for crypto exchanges and custodians “in the coming days.”
In the latest from the XRP lawsuit between Ripple and the US Securities and Exchange Commission (SEC), the agency has filed its remedies reply brief under seal, signaling a significant advance in the case’s remedies phase. This stage focuses on determining the potential sanctions that the fintech company might face if the SEC is successful […]
Congressman Rose accused the SEC of overstepping its bounds and hindering fintech innovation by taking action against Robinhood.
The post US Congressman calls SEC Chair Gary Gensler “rogue regulator” appeared first on Crypto Briefing.
Robinhood apparently made strenuous efforts to comply with the agency, even applying to become a special purpose crypto broker-dealer. The SEC is likely to sue for alleged securities violations in any case.
Robinhood’s crypto division received a Wells Notice from the US Securities and Exchange Commission (SEC) on May 4. According to a May 8 filing, the Gary Gensler-led Commission staff had been investigating Robinhood’s “cryptocurrency listings, custody of cryptocurrencies, and platform operations” for some time before recommending an enforcement action against it. Dan Gallagher, the chief […]
The post SEC issues Wells Notice against Robinhood, crypto community calls it ‘scare tactics’ appeared first on CryptoSlate.
The SEC is planning to file an "enforcement action" against Robinhood's cryptocurrency business, according to the Wells Notice.
Michael Saylor, the tech entrepreneur who steered MicroStrategy into a Bitcoin behemoth, is back in the headlines. This time, he’s not championing the orange coin, but rather aiming his laser focus at its altcoin rivals. Related Reading: Fear Back For 1st Time Since October As Crypto Greed Takes The Backseat At the recent Bitcoin For […]
Ironlight, helmed by the former global head of trading of Schroeder and Abu Dhabi's sovereign wealth fund ADIA with the ex-CEO of TD Bank as an adviser, aims to be a premier tokenization, listing and trading ecosystem for real-world assets targeting big investors.
Ethereum (ETH) has faced some regulatory turmoil amid rumors of a rejection of ETH spot exchange-traded funds (ETF) in May. The second largest cryptocurrency has also been in the spotlight after a key component in its ecosystem, Consensys, sued the US Securities and Exchange Commission (SEC) for “unlawful seizure of authority” over the asset. The […]
The SEC proposed that Do Kwon and Terraform pay roughly $5.3 billion in disgorgement, prejudgment interest and civil penalties, while the firm’s team suggested only $1 million.
Crypto firm Ripple is expanding its XRP Ledger (XRPL) enterprise solutions to Japan through a strategic collaboration with HashKey DX, the Tokyo-based specialized consulting company of the HashKey Group, according to an April 30 statement. In this partnership, HashKey DX will work alongside Ripple and SBI Ripple Asia—a collaboration between SBI Holdings and Ripple—to develop […]
The post Ripple teams up with HashKey DX on blockchain-based supply chain finance in Japan appeared first on CryptoSlate.
Regulators from key crypto markets, including the United Kingdom and Spain, have also taken similar measures against misleading crypto advertisements to minimize losses from crypto investments.
Pro-XRP lawyer and crypto advocate John Deaton has filed an amicus brief supporting Coinbase’s motion to certify an interlocutory appeal in the exchange’s ongoing case with the US Securities and Exchange Commission (SEC). In this petition submitted to the US District Court for the Southern District of New York, Deaton also heavily criticized the SEC’s […]
Taking to X on April 26, one analyst notes that there is a high probability of Ethereum spiking in the sessions ahead because of thinning sell-side liquidity across major centralized exchanges like Binance and Coinbase. Thin Sell-Side, Big Potential Move For ETH Thinning sell-side liquidity, as seen on order books across CEXes, means that few sellers are […]
The U.S. government’s arguments on stablecoins in an unrelated criminal case could bolster Binance’s position in its civil case with the SEC.
In the latest updates on the court case between Ripple and the United States Securities and Exchange Commission (SEC), the Magistrate Judge Sarah Netburn, has ordered strict deadlines for the regulatory agency to respond to the crypto firm’s motion. Judge Issues New Scheduling Order On Thursday, April 25, the magistrate Judge Netburn issued a new […]