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“Like all securities, an economic arrangement can qualify as an investment contract only if it involves an ongoing business enterprise whose management owes enforceable obligations to investors. Absent such obligations, the contract is just an asset sale,” Coinbase argued. “Because no such obligations are carried in the transactions over Coinbase’s
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Crypto investment firm Paradigm’s Special Counsel Rodrigo Seira has become the latest to slam the United States securities regulator, this time for “wrongfully” pursuing crypto exchange Bittrex in an attempt to police secondary crypto markets.In a July 11 Twitter thread, Seira added his thoughts after an amicus brief filing from
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Six members of the United States congress have called on the U.S. Securities and Exchange Commission (SEC) and Department of Justice to investigate Prometheum, claiming the firm has ties to the Chinese Communist Party. In a July 10 letter, Alabama Senator Thomas Tuberville and five members of the House of Representatives
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Digital asset manager Grayscale has filed a letter in its lawsuit against the United States Securities and Exchange Commission (SEC) over the rejection of a spot Bitcoin exchange-traded fund (ETF), citing a possible precedent in furtherance of its case.In a letter dated July 10, Grayscale’s legal team notified the U.S.
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Prometheum "may have provided false testimony to Congress or violated U.S. securities laws," the open letter began. The lawmaker said Prometheum CEO Aaron Kaplan told Congress that it developed its own blockchain platform independently starting in December 2019. However, in SEC filings filed through 2021, Prometheum said it depended on
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Despite the Coinbase cryptocurrency exchange facing a securities violation lawsuit in the United States, the company’s stock has been on the rise recently.Coinbase (COIN) stock has added more than 50% to its value since the U.S. Securities and Exchange Commission (SEC) filed a lawsuit against the firm for allegedly offering
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied On July 7, the United States Securities and Exchange Commission (SEC) submitted a letter to the judge in their case against Coinbase, responding to the exchange’s request for permission to file a motion for judgment on the pleadings.
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Despite lingering concerns over the Ripple vs. SEC lawsuit, The XRP Ledger (XRPL) has demonstrated significant growth in multiple areas of its protocol during the second quarter of 2023, according to a recent report from crypto analytics platform Messari.Based on data from Messari, XRP's circulating market cap has experienced a
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According to a letter sent by the SEC on July 7 to a district judge, Coinbase had knowledge of the probability that federal securities laws would apply to its operations, openly informing its shareholders about the possibility of assets traded on its platform being classified as securities."Since becoming a public
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A JPMorgan strategist believes that SEC approval for a spot Bitcoin ETF won’t be a game changer. The banking giant has argued that similar products have existed in Canada and Europe. The strategist pointed out that Bitcoin funds have attracted little interest from investors over the past two years. JPMorgan’s report acknowledged that
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