Ripple argued that XRP profits came from “market forces of supply and demand” rather than any contract between Ripple and XRP token holders.
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Category: Howey Test
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Ripple counsel: SEC’s shakedowns leave consumers holding the bag
The response comes as Ripple Labs and other critics believe the SEC has overstepped its mark on the enforcement of the crypto space.
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Gillibrand and Lummis state that most altcoins are securities
“Most cryptocurrencies go to the SEC […] Bitcoin and Ether would be certainly commodities, and that’s agreed upon,” said the U.S. Senator from New York Kirsten Gillibrand.
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SEC’s ‘Crypto Mom’ warns selling fractionalized NFTs could break the law
Fractionalized NFTs and baskets of non-fungible tokens could easily be considered investment contracts under U.S. securities law, warns SEC Commissioner, Hester Peirce.
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Kik and SEC Oppose Each Other’s Motions for Summary Judgment
Kik’s general counsel told Cointelegraph that the SEC’s case relies on its “poorly reasoned” suit against Telegram
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SEC Chairman Confirms Cryptocurrencies Like Ethereum Are Not Securities
On March 12, the cryptocurrency and blockchain legislative advocacy group Coincenter published correspondence between the Securities and Exchange Commission (SEC) chairman Jay Clayton and representative Ted Budd. The letter explains that Clayton and the SEC’s staff analysis confirms that Ethereum and similar cryptocurrencies are not subject to securities laws. Also read: Cointext Adds the Ability […]
The post SEC Chairman Confirms Cryptocurrencies Like Ethereum Are Not Securities appeared first on Bitcoin News.
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Court Reconsiders Ruling After SEC Proves Blockvest Tokens Are Securities
After failing to convince a federal court regarding the nature of Blockvest tokens in the previous hearing, the U.S. Securities and Exchange Commission (SEC) has finally convinced the same judge that these tokens are securities. The agency alleges that the firm and its founder made several false claims regarding their token’s regulatory status. Also read: SEC […]
The post Court Reconsiders Ruling After SEC Proves Blockvest Tokens Are Securities appeared first on Bitcoin News.
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Colorado Introduces Bill With Securities Law Exemptions for Cryptocurrencies
The U.S. state of Colorado has introduced the “Colorado Digital Token Act” which provides some “exemptions from the state securities laws for cryptocurrencies,” according to the text of the bill. Meanwhile, the state’s securities commissioner has already taken action against 20 initial coin offerings. Also read: Indian Supreme Court Moves Crypto Hearing, Community Calls for Positive […]
The post Colorado Introduces Bill With Securities Law Exemptions for Cryptocurrencies appeared first on Bitcoin News.
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Billions of Dollars ICO Industry is Governed by Securities Law, Judge Rules
U.S. V. Zaslavskiy, 17-cr-0647, U.S. District Court for the Eastern District of New York (Brooklyn), just might go down as a definitive case for cryptocurrency enthusiasts. Many, many billions of dollars generated through initial coin offerings (ICOs) are now, according to a federal judge, considered under the jurisdiction of securities laws. Also read: Philippines Okays […]
The post Billions of Dollars ICO Industry is Governed by Securities Law, Judge Rules appeared first on Bitcoin News.
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Bitcoiners Hope to Have a Friend in Top US Regulator Jay Clayton
Bitcoin might have a mole, a sympathetic insider at the highest levels of the US financial regulatory apparatus, if recent ecosystem press accounts are to be believed. According to a US Securities and Exchange Commission (SEC) meeting transcript, SEC Chair Jay Clayton has privately expressed deep knowledge of cryptocurrencies, including during a heated exchange with […]
The post Bitcoiners Hope to Have a Friend in Top US Regulator Jay Clayton appeared first on Bitcoin News.
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