SECs

Crypto Clash on Hold: U.S. Court Temporarily Stays Battle Over SEC’s Authority Amid Regulatory Shuffle

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WASHINGTON — A legal standoff over the governance of cryptocurrency between state attorneys general and the U.S. Securities and Exchange Commission (SEC) is presently on hold. This pause comes as the court awaits potential resolution stemming from recent changes in the SEC’s leadership. On April 16, Kentucky’s Eastern District Judge Gregory Van Tatenhove granted a 60-day delay of proceedings, accepting the premise that the ongoing leadership transitions could significantly affect the case’s outcome. The American regulatory landscape for digital assets is experiencing a significant shift under the Biden administration, presenting a departure from former President … Read more

Ripple Legal Battle Intensifies: SEC’s Appeal Chances Under Debate Amid Crypto Community Clash

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As the legal confrontation between Ripple and the U.S. Securities and Exchange Commission (SEC) continues, XRP, the digital currency at the heart of the dispute, is encountering volatility amid speculation about the outcome. The indecision regarding whether the SEC will challenge the recent Programmatic Sales ruling has introduced a period of apprehensive waiting for investors and industry observers. The controversy escalated when Dennis Kelleher, CEO of Better Markets, expressed a strong opinion via social media, estimating a 90% chance of an SEC victory if they appeal the decision. Kelleher criticized the lower court’s ruling for … Read more

Federal Judge Denies SEC’s Bid to Regulate Corporate Cybersecurity in Landmark SolarWinds Case

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NEW YORK — In a landmark decision, a federal judge in Manhattan ruled against the Securities and Exchange Commission’s (SEC) attempt to regulate corporate cybersecurity practices, settling a significant lawsuit centered around the extensive SolarWinds cyberattack. U.S. District Judge Paul A. Engelmayer concluded that the current statutory framework provides the SEC authority only over financial controls, not the broader scope of internal cybersecurity measures. This ruling came amid fears from various business sectors concerned about potential penalties from the SEC following breaches, particularly those executed by sophisticated hacking groups. Companies worried that stringent regulatory oversight … Read more

Judge Rules SEC’s Major Charges Against Binance Can Proceed, Dismisses Part of Case

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WASHINGTON — In a pivotal legal ruling, the District Court for the District of I Columbia has decided that the Securities and Exchange Commission (SEC) can proceed with multiple charges against the global cryptocurrency platform Binance and its CEO, Changpeng Zhao. The court, under Judge Amy Berman Jackson, upheld the SEC’s allegations concerning unregistered securities offerings and other regulatory breaches, though it dismissed some charges related to secondary market activities. The SEC’s lawsuit claims that Binance, along with its U.S. counterpart Binance.US, has been operating without the proper registration, offering services equivalent to those of … Read more