November 2022
SEC gets support from New Sports Economy Institute in XRP lawsuit against Ripple
The U.S. SEC has received support from sports investing group New Sports Economy Institute, which submitted its amicus brief on Friday to weigh in on the ongoing lawsuit between the SEC and Ripple.
Ripple gets support from Blockchain Association in XRP lawsuit against SEC
U.S. lobby group Blockchain Association, along with other institutions and firms, have formally filed amici briefs to support Ripple Labs Inc. in the ongoing lawsuit between the U.S. SEC and Ripple.
Coinbase officially enters the fray in XRP lawsuit to support Ripple against SEC
U.S.-based cryptocurrency exchange Coinbase has officially submitted its amicus brief to support Ripple in the lawsuit the U.S. SEC filed in 2020 against Ripple.
SEC gets more support in XRP lawsuit against Ripple
Three more companies and organizations have requested to weigh in on the ongoing lawsuit the SEC filed in 2020 against Ripple.
SEC gets more time to file reply briefs in XRP lawsuit against Ripple
The U.S. SEC has received approval from the court to extend the time for all parties to submit reply briefs, in the ongoing lawsuit the SEC filed in 2020 against Ripple.
Digital wallet Cryptillian seeks to back Ripple against SEC in XRP lawsuit
Digital wallet service provider Cryptillian Payment Systems has requested to file an amicus brief to support Ripple Labs Inc. in the latter’s ongoing court battle against the U.S. Securities Exchange Commission (SEC).
October 2022
SEC takes no position on two motions in support of Ripple in XRP lawsuit
The SEC is not taking a position on two motions, submitted by non-profit organization Investor Choice Advocates Network and crypto wallet provider SpendTheBits, which seek to weigh in on the lawsuit between the SEC and Ripple.
As US midterms approach, poll says voters want policy interests to align with crypto, technology
Survey reveals popularity of crypto ownership among voters, their hopes for the industry’s growing potential and the need for regulation to protect consumers.
SEC asks court to deny Ripple motion for summary judgment in XRP lawsuit
The U.S. SEC has filed a legal rebuttal to Ripple’s motion for summary judgment, a day after Ripple took a similar move against the SEC.
Ripple lawyer says ‘worth the fight’ as SEC hands over Hinman files in court case
The U.S. Securities and Exchange Commission (SEC) has handed over internal documents to Ripple Labs Inc. containing comments by former SEC Corporation Finance Division director William Hinman on cryptocurrencies, Ripple’s general counsel Stuart Alderoty said on his verified Twitter handle on Friday.
CFTC, SEC investigate if bankrupt 3AC misled investors, failed to register business
The Commodity Futures Trading Commission and the Securities and Exchange Commission of the U.S. are investigating whether bankrupt crypto hedge fund Three Arrows Capital (3AC) misled investors about its balance sheet and failed to register with the two agencies, according to a Bloomberg report which cites two people familiar with the matter. See related article: […]
US Regulation Delays
There’s a power struggle over who regulates crypto in the US – and it could all depend on how the midterm elections go this year.
Are NFTs securities? Bored Ape creator Yuga Labs faces SEC probe
The U.S. Securities and Exchange Commission (SEC) is reportedly probing Yuga Labs, Inc., the company behind the top-selling non-fungible token (NFT) collection Bored Ape Yacht Club (BAYC), for its issuance of the digital assets, according to a Bloomberg report. See related article: SEC fines Kim Kardashian US$1.26 mln for promoting EthereumMax Fast facts The report […]
Ripple slams SEC’s opposition to brief motions in XRP lawsuit
Ripple Labs has spoken against the U.S. Securities and Exchange Commission’s opposition to motions from two firms that had requested to file amicus briefs in support of Ripple, in the lawsuit that the SEC filed in 2020 against Ripple. See related article: SEC opposes motions from two firms seeking to back Ripple in XRP lawsuit […]
SEC opposes motions from two firms seeking to back Ripple in XRP lawsuit
The U.S. Securities and Exchange Commission (SEC) has objected to motions from two firms that had requested to file amicus briefs in support of Ripple Labs Inc., in the lawsuit that the SEC filed in 2020 against Ripple. See related article: Two firms seek to weigh in on XRP lawsuit between SEC, Ripple Fast facts […]
SEC fines Kim Kardashian US$1.26 mln for promoting EthereumMax
Reality TV star Kim Kardashian has been fined US$1.26 million by the U.S. Securities and Exchange Commission (SEC) for promoting EthereumMax (EMAX) tokens on her Instagram account without disclosing the US$250,000 payment she received for the endorsement. See related article: Bollywood megastar Amitabh Bachchan ponies up tax on NFT sale Fast facts The SEC said […]
Two firms seek to weigh in on XRP lawsuit between SEC, Ripple
Two companies have sought to be amicus curiae (Latin for friend of the court) in support of Ripple Labs in the lawsuit that the Securities and Exchange Commission filed in 2020 against Ripple. See related article: XRP price surges after U.S. court rejects SEC objection in Ripple lawsuit Fast facts I-Remit Inc., a global payment […]
September 2022
Markets: Bitcoin, Ether rise; XRP surges following court ruling vs. SEC; gains across top 10 crypto
Bitcoin and Ether rallied in late afternoon trading in Asia to rise over 1% as all top 10 cryptocurrencies by market capitalization gained. See related article: Markets: XRP jumps amid court ruling against SEC, Bitcoin gains, Ether sole loser in crypto top 10 Fast facts Bitcoin rose 1.35% to trade at US$19,569 at 4 p.m. […]
XRP price surges after U.S. court rejects SEC objection in Ripple lawsuit
The price of XRP rose after a U.S. federal judge Thursday overruled the Securities and Exchange Commission’s (SEC) objections to orders that asked the securities watchdog to disclose drafts of a 2018 speech made by former agency director William Hinman, in its lawsuit against Ripple Labs Inc. See related article: SEC files brief on Hinman […]
Markets: XRP jumps amid court ruling against SEC, Bitcoin gains, Ether sole loser in crypto top 10
Bitcoin edged higher to remain above US$19,000 in early Friday morning trading in Asia, after fluctuating around that resistance level all week. Ether dipped, while XRP led the gainers among the cryptocurrency top 10 by market capitalization. See related article: Markets: Bitcoin, Ether rise; BNB leads gainers in top 10 crypto, followed by Solana Fast […]
SEC charges Hydrogen Technology for selling unregistered securities
The SEC has filed charges against Hydrogen Technology Corporation and former chief executive Michael Ross Kane for alleged sales of unregistered “crypto asset securities” in the form of Hydro tokens. See related article: SEC’s Gensler says proof-of-stake cryptocurrencies may be securities Fast facts Moonwalkers Trading Limited CEO, Tyler Ostern, is also being charged for allegedly […]
Bitcoin ‘might double in price’ under CFTC regulation, its chairman says
Commodity Futures Trading Commission (CFTC) chairman Rostin Behnam said Thursday the crypto industry has “a massive opportunity for institutional inflows that will only occur if there’s a regulatory structure,” pushing for his office to lead the effort. See related article: Crypto community pushes back following CFTC charges against Ooki DAO Fast facts “Growth might occur […]
Are DAOs above the rules?
Ooki DAO – you’ve probably never heard of it, but it could become one of the most important decentralized autonomous organizations – because of the rules it’s accused of breaking.
SEC fines Tether’s former auditor US$1 mln over accounting malpractice
The U.S. Securities and Exchange Commission announced Monday it filed and settled a US$1 million fine against Friedman LLP, Tether’s former auditing firm, over “serious violations of the federal securities laws.” See related article: What is the right approach to regulating stablecoins? Fast facts See related article: Should Tether’s shrinking cash reserves be cause for […]
Cryptocurrency lobby group gets court approval to weigh in on SEC vs Ripple’s XRP lawsuit
Cryptocurrency lobby group Chamber of Digital Commerce (CDC) has received approval from a U.S. federal court to be an amicus curiae (Latin for friend of court) in the lawsuit that the U.S. Securities and Exchange Commission (SEC) filed in 2020 against Ripple Labs. See related article: Ripple objects to SEC’s relief suggestion in XRP lawsuit […]
Ripple objects to SEC’s relief suggestion in XRP lawsuit
Ripple Labs Inc. has objected to the U.S. Securities and Exchange Commission’s suggestion that it may seek additional time and pages if other amici curiae (Latin for friends of the court) submit briefs, as the lawsuit the SEC filed in 2020 against Ripple drags on. See related article: SEC, Ripple seek summary judgment in attempt […]
Markets: Bitcoin price falls below US$19,000, XRP gains on SEC lawsuit developments, Ether post-Merge slide continues
Bitcoin fell below the US$19,000 resistance level for the second time in a week in early Wednesday trading in Asia. Ether and most other tokens in the cryptocurrency top 10 by market capitalization lost ground. XRP was the exception, gaining on news the token’s issuer, Ripple Labs Inc, and the U.S. Securities and Exchange Commission […]
Crypto research firm founder accused of promoting ICO for compensation
Self-described crypto influencer charged with violating SEC regulations by trading and promoting an initial coin offering under undisclosed financial terms.
SEC, Ripple seek summary judgment in attempt to speed up XRP lawsuit
The argument centers around if Ripple’s XRP sales were offerings of unregistered securities.
SEC’s Gensler says proof-of-stake cryptocurrencies may be securities
When is a cryptocurrency a security and when is it not? Financial regulators around the world are raising that question. The answer that comes out of the U.S. may set the tone, but South Korea is also ahead in tackling it.
Thailand bans crypto lending and staking services
The Thailand Securities and Exchange Commission (SEC) has prohibited cryptocurrency companies from offering digital assets lending and staking products, or depository services. See related article: Thailand’s SCBX scraps plan to buy 51% stake in crypto exchange Bitkub Fast facts The regulator said in a press release on Thursday that the decision was made to protect […]
Cryptocurrency lobby group seeks to weigh in on SEC vs Ripple’s XRP lawsuit
Cryptocurrency advocacy group Chamber of Digital Commerce (CDC) has sought to be an amicus curiae (Latin for friend of court) in the lawsuit between the Securities and Exchange Commission and Ripple Labs. See related article: Ripple opposes SEC request to seal expert witness identities in XRP lawsuit Fast facts CDC Wednesday filed several documents in […]
Ripple opposes SEC request to seal expert witness identities in XRP lawsuit
Cryptocurrency firm Ripple Labs filed a letter of response on Monday to oppose the U.S. Securities and Exchange Commission’s request to seal portions of legal filings that contain information identifying the SEC’s proposed expert witnesses, as the SEC’s lawsuit against Ripple Labs drags on. See related article: SEC seeks to seal information exposing expert witness […]
SEC seeks to seal information exposing expert witness identities in XRP lawsuit
The U.S. Securities and Exchange Commission has filed a motion seeking to seal portions of the filings that contain information identifying the SEC’s expert witnesses in its lawsuit against Ripple Labs. See related article: SEC, Ripple take XRP lawsuit battle to media as well Fast facts The SEC wrote in the motion on Friday that […]
SEC to open digital asset office as it cranks up regulatory scrutiny of cryptocurrencies
Amid an increased focus on cryptocurrency among global regulators and lawmakers, the U.S. Securities and Exchange Commission (SEC) is launching a new office dedicated to reviewing filings related to digital assets. See related article: MicroStrategy and Michael Saylor sued by District of Columbia for evading taxes Fast facts The SEC is adding the Office of […]
Thai regulator files police complaint against Zipmex for non-compliance
The Securities and Exchange Commission of Thailand (Thai SEC) has filed a police complaint against cryptocurrency exchange Zipmex and Akalarp Yimwilai, cofounder of the company and CEO of its Thai unit, for non-compliance. See related article: Thailand mandates warnings on crypto ads Fast facts In a statement, Thai SEC said it had ordered Zipmex to […]
Anti-crypto U.S. congressman says too much power, money prevent all-out ban
U.S. Congressman Brad Sherman, who chairs a House subcommittee on investor protection and a leading crypto skeptic in Washington, is seeking more stringent cryptocurrency regulation, if not all-out bans, according to a report by the LA Times. See related article: CFTC, SEC seek input on hedge fund crypto reporting rules Fast facts In an interview […]
Thailand mandates warnings on crypto ads
Cryptocurrency advertisements in Thailand must indicate potential risks of investing in the nascent asset class, the nation’s Securities and Exchange Commission (SEC) said in a statement on Thursday. See related article: Singapore central bank warns against crypto marketing, promotion Fast facts Crypto businesses in the Southeast Asian nation must report all details of advertisements and […]
CFTC, SEC seek input on hedge fund crypto reporting rules
The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) have jointly sought public comments to amend crypto rules for large hedge funds advisers. See related article: New US crypto bill seeks to make CFTC top Bitcoin, Ethereum watchdog Fast facts The CFTC and SEC are jointly proposing to amend the rules […]
August 2022
SEC, Ripple take XRP lawsuit battle to media as well
The ongoing battle between the U.S. Securities and Exchange Commission and Ripple Labs over the latter’s token XRP is playing out not just in a courtroom but in media channels as well. See related article: SEC files no objection to Ripple request to seal non-party identities in XRP lawsuit Fast facts Stu Alderoty, general counsel […]
SEC files no objection to Ripple request to seal non-party identities in XRP lawsuit
The U.S. Securities and Exchange Commission has decided not to object to Ripple Lab’s request to seal identities of certain non-parties and Ripple employees in the Daubert motions, as its lawsuit against Ripple drags on. See related article: SEC seeks to file up to 90-page long reply to motion in XRP lawsuit Fast facts The […]
Grayscale says XLM, ZEC and ZEN may be securities after SEC inquiry
In recent filings, the crypto asset management firm has said Stellar (XLM), Zcash (ZEC) and Horizen’s (ZEN) native cryptocurrencies may be securities. Grayscale was responding to questions from the U.S. Securities and Exchange Commission (SEC) regarding the company’s crypto trusts. See related article: Grayscale sues SEC over spot Bitcoin ETF rejection Fast facts In its […]
Thailand’s SCBX scraps plan to buy 51% stake in crypto exchange Bitkub
Thailand’s oldest lender SCBX Pcl has announced it is withdrawing from an earlier decision to purchase a 51% stake in the crypto exchange Bitkub for US$500 million, citing regulatory issues. See related article: Thailand’s central bank to get more power in crypto regulation overhaul: report Fast facts In a statement addressed to the Stock Exchange […]
SEC seeks to file up to 90-page long reply to motion in XRP lawsuit
The U.S. Securities and Exchange Commission is requesting to file a lengthy reply to its motion that seeks to exclude the testimony of Ripple Labs’ witnesses, as the SEC’s lawsuit against Ripple drags on. See related article: Judge grants Ripple’s request to review videos of SEC officials Fast facts The SEC filed the request on […]
Coinbase hit with lawsuit over allegedly poor security
U.S.-based cryptocurrency exchange Coinbase has been hit with a class action lawsuit last week over claims the firm allegedly failed to properly secure customers’ accounts, leaving them vulnerable to unauthorized activity. See related article: Coinbase under investigation by SEC, quarterly report reveals Fast facts Filed in the U.S. District Court for the Northern District of […]
SEC files brief on Hinman speech as XRP lawsuit drags on
The U.S. Securities and Exchange Commission has fought back in its lawsuit against Ripple Labs with a reply brief in support of its objections to orders that asked the SEC to disclose drafts of a 2018 speech made by former SEC director William Hinman. See related article: Judge grants Ripple’s request to review videos of […]
Judge grants Ripple’s request to review videos of SEC officials
U.S. judge Sarah Netburn on Sunday granted Ripple Labs’ motion to serve two subpoenas to authenticate seven video recordings in which U.S. Securities and Exchange Commissions officials made public remarks. See related article: XRP trades down 3.5% after Ripple unlocks 1 billion tokens from escrow Fast facts The judge’s order comes in response to Ripple’s […]
Coinbase under investigation by SEC, quarterly report reveals
Nasdaq-listed Coinbase Global is under investigation by the U.S. Securities and Exchange Commission (SEC) for its token listing processes and its staking programs and yield-generating products, according to the company’s most recent quarterly report. See related article: Former Coinbase manager arrested on insider trading charges Fast facts “[Coinbase] has received investigative subpoenas and requests from […]
US crypto bill pile up; Philippines Binance warning
US Senate proposes the CFTC takes responsibility of Bitcoin and Ethereum. Meanwhile, Philippine authorities warn against Binance
New US crypto bill seeks to make CFTC top Bitcoin, Ethereum watchdog
The U.S. Senate Agriculture Committee introduced a bill on Wednesday to put the Commodity Futures Trading Commission (CFTC) at the helm of regulating all cryptocurrencies classified as commodities. See related article: US crypto bill could undermine market protections: SEC, Gensler Fast facts The bill would give the CFTC “exclusive jurisdiction” over all “digital commodities,” which […]
July 2022
SEC fails to block XRP holders from aiding in Ripple case
A U.S. federal district court dismissed the U.S. Securities and Exchange Commission’s motion to revoke the “amici curiae” or “friends of the court” status granted to XRP holders in an order on Tuesday. See related article: SEC wins time to resist crucial document handover to Ripple in XRP lawsuit Fast facts In a letter to […]
SEC says 9 out of 25 assets in crypto insider trading case are securities
The U.S. Securities and Exchange Commission (SEC) alleged in a civil suit filed last week that nine of the 25 crypto assets traded in the first-ever cryptocurrency insider trading case were securities and that leaking confidential information, therefore, amounted to securities fraud. See related article: Former Coinbase manager arrested on insider trading charges Fast facts […]
Thai SEC seeks additional clarification from Zipmex
The Securities and Exchange Commission of Thailand (Thai SEC), has sought clarification from cryptocurrency exchange Zipmex on its decision to freeze withdrawals, according to a statement on its website. See related article: Celsius bankruptcy deepens chill over crypto sector Fast facts The regulatory authority for Thailand’s capital markets, in a letter dated July 20 issued […]
Former Coinbase manager arrested on insider trading charges
The U.S. Department of Justice (DOJ) arrested former Coinbase product manager Ishan Wahi and his brother, Nikhil Wahi, on allegations of wire fraud in a first-ever cryptocurrency insider trading scheme, the agency said in a statement on Thursday. See related article: Former OpenSea employee arrested amid insider trading allegations Fast facts The Wahi brothers are […]
Chinese logistics network plans US fundraise via tokenized offerings
HGC Info Tech (HGC) announced Tuesday that it will start offering its securities tokens at U.S. digital asset exchange INX, as Chinese firms face delisting risks in the states due to regulatory differences. See related article: SEC places Chinese crypto mining rig maker Canaan on pre-delisting list Fast facts Xiamen-based HGC provides order matching and […]
Vitalik Buterin defends Ethereum ahead of merge; ‘not a security’
Ethereum co-founder Vitalik Buterin tweeted a defense of the network’s transition to proof of stake (PoS) on Tuesday, responding to arguments suggesting assets secured by such consensus mechanisms are a security. See related article: Ethereum one step closer to Eth2 with Ropsten testnet merger Fast facts “The fact that you can vote on something to […]
South Korea may team up with US to investigate crypto crimes
South Korea’s Justice Minister Han Dong-hoon met with U.S. investigative agencies in New York on Tuesday amid the countries’ separate investigations into Terra and its cofounder Do Kwon. See related article: South Korean authorities cite LUNA debacle to call for speedier crypto oversight Fast facts The minister met with Andrea M. Griswold, co-chief of the […]
VanEck files for spot Bitcoin ETF despite Grayscale rejection
Investment firm VanEck has filed an application for a spot Bitcoin exchange-traded fund (ETF) with the U.S. Securities and Exchange Commission (SEC), despite Grayscale’s application getting rejected on Tuesday. See related article: Next step for spot Bitcoin ETF in the US may be a courtroom battle Fast facts VanEck had filed for a spot Bitcoin […]
June 2022
Grayscale sues SEC over spot Bitcoin ETF rejection
Grayscale Investments filed a lawsuit against the U.S. Securities and Exchange Commission (SEC) within an hour of the markets regulator rejecting an application that would have allowed its spot Bitcoin exchange-traded fund (ETF) to trade on the New York Stock Exchange (NYSE). See related article: Bitcoin ETF rejection could trigger Greyscale to sue the SEC […]
US crypto bill could undermine market protections: SEC, Gensler
The recently proposed U.S. cryptocurrency bill could undermine the existing regulatory framework for broader capital markets, Securities and Exchange Commission (SEC) Chairman Gary Gensler said on Tuesday. See related article: Hold onto your crypto bags, the regulators are coming Fast facts Speaking at the Wall Street Journal’s CFO Network Summit, Gensler said many crypto companies […]
US crypto bill leaves ‘open question’ on securities: Tessler
A proposed US crypto bill may place crypto under the CFTC’s primary oversight, but that won’t exclude the SEC from the industry, Sidley Austin’s Lilya Tessler says.
Next step for spot Bitcoin ETF in the US may be a courtroom battle
It’s been a ‘Waiting for Godot’ experience for the crypto industry regarding US approval of a spot Bitcoin ETF. A decision next month by the SEC could bring a lift to crypto markets or be a boon to lawyers.
Do Kwon and Terra lose appeal to impede SEC investigation
The order said Do Kwon and Terraform Labs had sufficient contact with the US for the Securities and Exchange Commission to investigate it for possible violations of federal
securities laws.
Hold onto your crypto bags, the regulators are coming
Falling prices, an imploding stablecoin, and more reports of hacks have occupied the cryptocurrency headlines in recent weeks, so it’s perhaps no surprise that regulators have noticed and they intend to do something about it.
SEC said to probe Binance for rule violation in 2017 initial coin offering: report
The Securities and Exchange Commission (SEC) is reportedly looking into whether Binance violated any rules regarding the sale of securities when its BNB token was sold through an initial coin offering (ICO) in 2017. See related article: Binance’s venture arm raises US$500 mln to invest in Web3, blockchain Fast facts The world’s largest cryptocurrency exchange […]
May 2022
Bitcoin rig maker Canaan reports over US$200 mln in Q1 revenue
Chinese crypto mining rig maker Canaan booked robust revenue growth in Q1 2022 despite logistical issues and supply chains disruptions from the pandemic, the company said on Thursday. See related article: SEC places Chinese crypto mining rig maker Canaan on pre-delisting list Fast facts Canaan recorded 1.36 billion yuan (US$214 million) in revenue in the […]
Celsius Network’s mining arm plans public listing
Celsius Mining, a Bitcoin mining unit of cryptocurrency lender Celsius Network, is planning to go public, as the company doubles down on its mining business. See related article: SEC scrutinizing crypto lending by Celsius, Gemini, Voyager: reports Fast facts Celsius Mining said on Monday that it filed a Form S-1 draft registration with the U.S. […]
Nvidia to pay US$5.5 mln for inadequate disclosure of crypto mining earnings
Graphics card giant Nvidia has agreed to pay a US$5.5 million fine for inadequate disclosure on its sales related to cryptocurrency mining in its 2018 financial statements. See related article: SEC places Chinese crypto mining rig maker Canaan on pre-delisting list Fast facts Crypto mining was a “significant element of its material revenue growth from […]
Global NFT Sales Rise; Hong Kong Embraces NFTs
Bitcoin falls as Nasdaq hits its worst drop since 2020. Meanwhile, NFT exhibitions are popping up in Hong Kong.
SEC places Chinese crypto mining rig maker Canaan on pre-delisting list
The Securities and Exchange Commission (SEC) said it determined that Canaan used an auditor whose working papers cannot be inspected or investigated completely by the Public Company Accounting Oversight Board (PCAOB). See related article: Canaan to buy back up to $100M shares to drive value Fast facts The SEC Wednesday said it is placing 88 […]
The SEC is building a SWAT team to combat crypto crime
The Securities and Exchange Commission (SEC) said it is expanding its crypto asset enforcement team by adding 20 positions, in a move to bolster its efforts to combat cybercrime associated with cryptocurrency. See related article: Peirce dissents from SEC’s US$100M BlockFi settlement Fast facts The SEC on Tuesday said that its staff strength in a […]
April 2022
Grayscale fancies SEC green light for Bitcoin spot ETF
The cryptocurrency investment firm has stepped up its lobbying efforts with the U.S. regulator following its recent nod to a Bitcoin futures ETF. See related story: SEC comes around on Bitcoin ETFs Fast facts Grayscale’s lawyers have written to the Securities and Exchange Commission saying that its application for a Bitcoin spot exchange-traded fund (ETF) […]