For Crypto, the Global Regulatory ‘Olympics’ Has Already Begun
(Greg Rosenke/Unsplash, modified by CoinDesk)
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(Greg Rosenke/Unsplash, modified by CoinDesk)
Coinbase and Custodia both lost early and preliminary court fights. The Coinbase loss was more or less expected – companies rarely win much on a motion for judgment at such an early stage – but still pretty enlightening.
(Possessed Photography/Unsplash)
A federal judge ruled the U.S. Securities and Exchange Commission (SEC) brought enough of a case arguing that Coinbase is operating an unregistered broker, exchange and clearinghouse that its suit against the crypto trading company should move forward.
The U.S. Securities and Exchange Commission (SEC) is reportedly asking a New York judge to levy a $2 billion judgment against Ripple Labs, according to social media posts from the crypto company’s CEO and chief legal officer on Monday.
The reported move, if confirmed, could have serious ramifications for the blockchain’s developers. But success for the troubled regulator is far from certain and unanswered questions abound.
Reports suggest the SEC may be about to categorize ETH as a security, with huge implications for the blockchain’s future. Here’s why the SEC would be wrong.
CoinDesk reported Wednesday that the Ethereum Foundation faces a confidential inquiry, and Fortune said the SEC is examining whether ETH is a security.
Odds that spot ether ETFs will get approved in May have gotten slimmer, according to a Bloomberg ETF analyst who cited U.S. regulators’ seeming lack of engagement with potential issuers over the products.
A federal judge ruled that the U.S. Securities and Exchange Commission must pay legal costs for Debt Box, a Utah-based crypto company the SEC brought a suit against, finding that the regulator had committed a “gross abuse of power” in its efforts to secure a temporary restraining order.