SEC | ForkLog - Part 14

ForkLog 13 16.08.2024

Ripple Unfazed by Potential SEC Appeal on XRP Status

The potential appeal by the SEC against the court’s decision in the Ripple case will not affect the status of the XRP token as a non-security, according to the company’s chief legal officer, Stuart Alderoty. What if the SEC appeals the @ripple case? @s_alderoty @JWVerret pic.twitter.com/xoaAAewjcy — Digital Asset Investor (@digitalassetbuy) August 15, 2024 He […]

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ForkLog 39 13.08.2024

SEC Accuses NovaTech of Operating a $650 Million Ponzi Scheme

The U.S. Securities and Exchange Commission (SEC) accused the founders and promoters of NovaTech of orchestrating a Ponzi scheme that amassed over $650 million in crypto assets. According to the statement, NovaTech Ltd., led by the couple Cynthia and Eddy Petion, raised funds from more than 200,000 investors worldwide. Charges were also brought against Martin […]

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ForkLog 14 08.08.2024

Court Reduces Ripple’s Fine from $2 Billion to $125 Million

A court fined Ripple $125 million in a protracted legal battle with the U.S. Securities and Exchange Commission (SEC). The regulator initially demanded $2 billion. Judge Analisa Torres also prohibited the fintech company from future violations of securities laws, citing a “reasonable likelihood of future violations.” Previously, Ripple sought to cap the fine at $10 […]

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ForkLog 12 30.07.2024

SEC Accuses BitClout Founder of Fraud

The United States Securities and Exchange Commission (SEC) has charged the founder of the DeSoc project BitClout, Nader Al-Naji, with fraud.

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ForkLog 9 30.07.2024

SEC to Withdraw Demand for Solana and Other Assets to Be Recognized as Securities

The U.S. Securities and Exchange Commission (SEC) intends to seek amendments to its initial lawsuit against Binance. The proposal could potentially affect the need for a court decision on whether assets like Solana are considered securities. “The amendments will eliminate the need to render a verdict on the sufficiency of the allegations regarding these tokens […]

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ForkLog 10 24.07.2024

Coinbase Seeks Court Order for Gensler’s Correspondence

Coinbase has filed a motion to compel the SEC and its chairman, Gary Gensler, to produce emails and internal documents underlying its legal battle with the agency, according to The Block. The Commission sued the platform in June 2023, accusing it of violating securities laws and operating without registration. The SEC also targeted Coinbase’s staking […]

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ForkLog 7 13.07.2024

Ripple Reflects on Year Since Partial Victory Over SEC

Last summer, the Southern District Court of New York ruled in favor of Ripple Labs in its ongoing case against the SEC, which began in 2020. A year later, the company’s chief legal officer, Stuart Alderoty, discussed the ruling’s impact on the industry. Some reflections as we approach the one year anniversary of Judge Torres’ […]

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ForkLog 11 12.07.2024

SEC Concludes Investigation into BUSD

The issuer of Binance’s BUSD stablecoin, Paxos, has received a notification from the SEC indicating no plans for enforcement action. In February 2023, the NYDFS initiated an investigation into the firm. Later, the regulator ordered Paxos to cease issuing BUSD. The SEC also announced its intention to sue the company. The Commission’s notice claimed the […]

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ForkLog 10 10.07.2024

Uniswap Labs Urges SEC to Reconsider DeFi Regulation Efforts

Uniswap Labs, associated with the DEX Uniswap, has urged the SEC to abandon its proposal to regulate the DeFi sector, citing a recent U.S. Supreme Court decision. Both the SEC and the industry have better ways to spend their resources than in litigation over an unlawful rule. Our letter to the SEC is here: https://t.co/yAltMdmD3e. […]

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ForkLog 18 08.07.2024

Messari CEO Declares Battle Against ‘Corrupt’ SEC

In the coming months, Messari will “initiate a war against the illegitimate and corrupt” SEC. This was announced by the company’s founder and CEO, Ryan Selkis. GM. I’ve declared independence from the SEC and its corrupt Chair Gary Gensler. In the months ahead, Messari will be operationalizing a war against this illegitimate and corrupt agency. […]

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ForkLog 7 04.07.2024

Coinbase Challenges SEC’s Attempt to Shield Gensler’s Correspondence

The cryptocurrency exchange Coinbase has responded to a motion by the SEC, in which the regulator seeks to block the disclosure of information from its chairman, Gary Gensler. We have responded to @SECGov ‘s effort to block reasonable discovery from Mr. Gensler in a case that it—not Coinbase—chose to file. Democracy, as well as due […]

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ForkLog 4 03.07.2024

SEC’s Case Against ConsenSys to Proceed on Expedited Schedule

The court has approved an expedited schedule for hearings in the SEC case against ConsenSys, set to take place from July 29 to November 26. This was announced by the company’s lawyer, Bill Hughes. Important News about about @Consensys v. Gensler. Judge O’Connor granted our request that he consider the merits of our case on […]

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