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Ripple Wins Partial Summary Judgment in Securities Lawsuit

[Jun 21 9:10 AM] The U.S. District Court for the Northern District of California has issued an order granting in part and denying in part the motion for summary judgment in a lawsuit concerning allegations of securities law violations against Ripple Labs, XRP II…

What Is the Howey Test? Understanding Its Role in Crypto Regulation

[May 24 9:37 PM] This year, with the U.S. Securities and Exchange Commission (SEC) increasing enforcement on businesses accused of offering unregistered crypto securities to American investors, regulators, attorneys, and judges have been utilizing the Howey Test to…

SEC Seeks $5.3 Billion in Final Judgment Against Do Kwon and Terraform Labs

[Apr 24 11:38 PM] The U.S. Securities and Exchange Commission (SEC) has asked the court to order Terraform Labs and Do Kwon to pay around $5.3 billion as part of the final judgment against the two defendants. This sum includes $4,192,147,847 in disgorgement and…

Ripple Asks Court to Reject SEC’s $2 Billion Penalty Request in XRP Case

[Apr 23 5:16 PM] Ripple Labs has filed its opposition to the request by the U.S. Securities and Exchange Commission (SEC) for the company to pay $2 billion in fines in the XRP case. “The SEC’s draconian remedial requests are ungrounded in law or…

US Court Sentences Onecoin’s Head of Legal and Compliance to 4 Years in Prison

[Apr 4 11:27 PM] A U.S. court has sentenced Onecoin’s purported head of legal and compliance to four years in prison. She “facilitated and committed money laundering, aiding in the exploitation of millions of victims,” said U.S. Attorney Damian…

Google Sues Chinese Nationals for Running Crypto Scam Using Google Play App Store

[Apr 4 2:35 PM] Tech giant Google has filed a lawsuit against two Chinese nationals, accusing them of developing fraudulent cryptocurrency apps on the Google Play store and defrauding more than 100,000 users globally. “This is a unique opportunity for us to…

SEC Asks Judge to Fine Ripple $2 Billion in XRP Case — Ripple CEO Says ‘There Is Absolutely No Precedent for This’

[Mar 26 5:30 PM] The U.S. Securities and Exchange Commission (SEC) is seeking nearly $2 billion in fines from Ripple Labs in the ongoing XRP lawsuit. “There is absolutely no precedent for this,” exclaimed Ripple’s CEO regarding the $2 billion…

Crypto Exchange Kraken Shares ‘Real Story’ of SEC Lawsuit — Claims SEC Seeks ‘Boundless Authority’ Over Commerce

[Feb 27 1:30 AM] 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…

Ripple’s CLO Says SEC Is Anything But Infallible — Advises ‘Don’t Be Intimidated When They Come Knocking’

[Dec 1, 2023 7:00 PM] Ripple’s chief legal officer says the U.S. Securities and Exchange Commission (SEC) is “anything but infallible,” emphasizing that the regulator is “bloated, broken, and beleaguered.” He advised investors not to…

SEC Identifies 16 Crypto Tokens as Securities in Kraken Lawsuit

[Nov 21, 2023 8:30 PM] The U.S. Securities and Exchange Commission (SEC) has identified 16 crypto tokens as securities in its lawsuit against cryptocurrency exchange Kraken. Some of the alleged crypto securities were the same as those highlighted in the SEC’s…

SEC Sues Kraken: Crypto Exchange Plans to ‘Vigorously Defend’ Its Position in Court

[Nov 21, 2023 2:38 AM] The U.S. Securities and Exchange Commission (SEC) has sued cryptocurrency exchange Kraken for the second time this year, alleging that the crypto trading platform operates as an unregistered securities exchange, broker, dealer, and clearing agency…

US Supreme Court to Decide Whether Coinbase Can Force Users to Settle Disputes Through Arbitration

[Nov 6, 2023 8:30 PM] The U.S. Supreme Court has agreed to take up the Coinbase case concerning whether the crypto exchange can force users to settle disputes through private arbitration, rather than in court. The case stems from a dogecoin (DOGE) sweepstakes in which…

SEC Wants $770 Million From Ripple — Lawyer Says SEC Is ‘Pissed and Embarrassed’

[Oct 28, 2023 10:00 PM] The U.S. Securities and Exchange Commission (SEC) reportedly wants Ripple to pay a $770 million penalty for violating securities laws. Crypto lawyer John Deaton explained that the securities regulator is “pissed and embarrassed” after…

SEC Drops Lawsuit Against Ripple Executives, All Charges Dismissed — Ripple Calls It ‘a Surrender by SEC’

[Oct 19, 2023 4:30 PM] The U.S. Securities and Exchange Commission (SEC) has dropped all charges against Ripple’s executives, CEO Brad Garlinghouse and co-founder Chris Larsen. “The SEC made a serious mistake going after Brad & Chris personally — and…

Binance Seeks Dismissal of SEC Lawsuit — Claims SEC ‘Distorts’ Securities Laws to Gain Power Over Crypto Industry

[Sep 22, 2023 7:30 PM] Crypto exchange Binance and its CEO Changpeng Zhao (CZ) have filed a motion to dismiss the lawsuit against them by the U.S. Securities and Exchange Commission (SEC). “It is clear that the SEC’s lawsuit has no foundation in the currently…

SEC Chairman Gensler Stresses Existing Fiat Digital Currencies Are Sufficient Amid Coinbase and Binance Actions

[Jun 6, 2023 11:30 AM] In the aftermath of the U.S. Securities and Exchange Commission’s (SEC) enforcement actions against Coinbase and Binance, chairman Gary Gensler engaged in a conversation, maintaining that further digital currencies are unnecessary…