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The Chamber of Digital Commerce, a Washington-based blockchain advocacy group, has filed an amicus curiae document on the SEC v Payward, Inc. (Kraken) case. The chamber argues that the actions of the SEC pose “separation of powers and due process” concerns and that digital assets are not inherently investment contracts. Chamber of Digital Commerce Slams … Read more
Do Kwon, the embattled former CEO of Terraform Labs, is currently stranded in Montenegro due to extradition delays, following accusations by the U.S. Securities and Exchange Commission (SEC) of conducting a massive fraudulent crypto scheme. Last year, the SEC charged that from April 2018 to May 2022, Terraform and Kwon’s operations resulted in at least … Read more
Cryptocurrency exchange Kraken has shared what it called “the real story” of the lawsuit against it by the U.S. Securities and Exchange Commission (SEC). Kraken also explained why it is moving to dismiss the case. “Crypto innovators in the United States should not have to fear retaliation for their political speech. They should be free … Read more
Lejilex and the Crypto Freedom Alliance of Texas, a crypto nonprofit, have teamed up to introduce a complaint against the actions of the SEC towards actors in the digital asset industry in America. The complaint alleges that the SEC has no regulatory powers over these crypto companies, having usurped functions not given to it by … Read more
Coinbase has answered the SEC request for comments on the proposed rule change to list the ETH Grayscale Fund as a spot ETF. Coinbase stated that ether was a commodity, and its status has been publicly recognized in a variety of circumstances by U.S. agencies and courts. Coinbase Supports Ethereum Grayscale Fund Conversion as a … Read more
Ripple CEO Brad Garlinghouse believes that the U.S. Securities and Exchange Commission (SEC) will approve spot exchange-traded funds (ETFs) based on crypto tokens other than bitcoin. “I think it’s inevitable that there’ll be multiple ETFs around different tokens,” he stressed, noting that Ripple would welcome an XRP ETF. “In my opinion, it makes these markets … Read more
Economist and gold advocate Peter Schiff has sounded the alarm about the U.S. Securities and Exchange Commission (SEC) potentially changing the definition of a “security.” He cautioned: “Now that the U.S. Appeals Court has upheld the SEC’s authority to unilaterally change the definition of a ‘dealer,’ I expect lots of private investors to be retroactively … Read more
Veteran trader Peter Brandt has warned that U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler should not be trusted. He stressed that Gensler “has a long history of not looking out for the interests of investors.” Brandt further emphasized that the SEC chairman “was instrumental in the bankruptcy” of a major company and was … Read more
Blackrock has amassed nearly 110,000 bitcoins for its spot bitcoin exchange-traded fund (ETF), Ishares Bitcoin Trust (IBIT), since its launch about a month ago. The world’s largest asset manager’s bitcoin ETF has a total net inflow of nearly $5 billion, leading the pack among all spot bitcoin ETFs. Blackrock CEO Larry Fink has stated that … Read more
U.S. Securities and Exchange Commission (SEC) Chairman Gary Gensler has outlined a “very real economic difference” between crypto like bitcoin and fiat currencies like the U.S. dollar. “You have a whole central bank, and support for one currency, generally per economic region,” the SEC chief noted, adding that we don’t have the same in bitcoin. … Read more