Regulator

Former Regulator Predicts SEC to End Ripple Lawsuit, Signaling a Shift Toward Crypto Support

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Washington, D.C. — A former U.S. regulator has indicated that the Securities and Exchange Commission (SEC) may soon conclude its legal battle with Ripple Labs and its associated cryptocurrency, XRP, hinting at a potential shift towards a more crypto-friendly regulatory environment. This anticipated decision could represent a significant pivot in how digital currencies are treated under U.S. securities laws. The SEC filed a lawsuit against Ripple Labs in December 2020, alleging that the company and its executives raised over $1.3 billion through an unregistered, ongoing digital asset securities offering. This lawsuit centers on XRP, a … Read more

Louisiana Financial Regulator Cleared of Liability in Stanford Trust Ponzi Scheme Case

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Baton Rouge, La. – In a significant legal decision, a Louisiana jury has determined that the state’s Office of Financial Institutions (OFI) was not civilly liable for the losses incurred in the Stanford Trust Ponzi scheme, one of the largest financial scandals to impact the state. This lawsuit was closely watched as it addressed the degree of responsibility a regulatory body holds in overseeing financial institutions. The Stanford Trust Ponzi scheme, orchestrated by financier Robert Allen Stanford, resulted in billions of dollars in losses for investors. Stanford was eventually convicted and is currently serving a … Read more