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US SEC Denies Commonality Of Ripple Ruling In Terra Case According to a filing in the District Court for the Southern District of New York on July 21, the US SEC contradicts Judge Analisa Torres’ summary judgment ruling in the Ripple lawsuit. Moreover, SEC will appeal against the court’s ruling that XRP is a security, denying its relevance in Terraform and Do Kwon lawsuit. advertisement SEC argues that institutional sales support the SEC’s arguments and programmatic sales decision is incorrect and should not be followed by the court. In addition, it reasons that the ruling can’t be squared with Howey and decades of federal securities laws jurisprudence. “Those portions of Ripple were wrongly decided, and this Court should not follow them. SEC staff is considering the various available avenues for further review and intends to recommend that the SEC seek such review.” Terra and Do Kwon lawyers filed a supplemental authority thi...

Also Read: Binance Looks To Deregister As Crypto Service Provider In Cyprus advertisement Binance SEC To Settle On Freezing Funds? As per the court proceeding, the federal judge asked to enter a mediation hearing that will eventually allow the biggest crypto exchange’s US affiliate to manage its basic operations. John Reed Stark, Former Chief of the SEC Office of Internet Enforcement addressed an argument made by the Judge in the Binance lawsuit. It indicated a skepticism in the commission’s approach towards the crypto industry with alleged forced enforcement. From the recent Binance SEC case hearing, he derived that the parties will likely form an agreement during the mediation process with the magistrate judge. However, the federal judge might come in to decide the size of “ordinary business expenses” and other issues in the matter. Recommended Articles ...

Also Read: US Congressman Files Bill To Fire SEC Chair Gary Gensler In the recent times, top US based crypto exchange Coinbase announced plans to expand its presence beyond the United States . This came after its repeated attempts to obtain clear path to regulatory framework from the U.S. Securities and Exchange Commission (SEC). Meanwhile, he feels that US administration’s plans to have a CBDC-led surveillance environment would not have the same effect globally as it had earlier. “CBDC Surveillance State In The US” The crypto investor responded to a tweet by Josh Swihart about the US lawmakers’ plans to “diligently working to shut off all crypto from the mainstream, including Bitcoin .” Srinivasan, however, explained that it would not have a widespread effect on the Crypto Market as Washington DC does not have a global veto over tech anymore. Interestingly, the back to back lawsuits against top crypto exchanges Coinbase and Binance draw paralle...

Also Read: Coinbase Stock Price Crashes 16% Pre Market Over SEC’s New Charges advertisement US SEC Backs Dollar Against Crypto Currencies Gary Gensler , US SEC Chairman during an interview with CNBC stated that we don’t need more digital currency. He mentioned the market already has digital currency and it’s called the U.S. dollar. However, Gensler also named the Euro and the Yen as digital currencies, while, he highlighted that they have digital investment. US SEC Chair’s this big statement came directly after suing the nation’s biggest crypto exchange Coinbase. Gensler alleged the crypto exchange failed to provide investors with critical protections. This also includes not complying with rules to prevent fraud and manipulation, proper disclosure and safeguards against conflicts of interest. Read More Crypto News Here… Recommended Articles ...