SEC Archives - Cryptolifedigital

Will Coinbase Meet The Same Faith As XRP In Court Or Will SEC Lose?

28Mar

By Daniel AbangNo Comments

Cryptocurrency

Will Coinbase Meet The Same Faith As XRP In Court Or Will SEC Lose?

On Wednesday, a US district judge gave a judgment that the Security and Exchange Commission (SEC) can continue with its legal battle against Coinbase. Judge Katherine Failla denied Coinbase's move to dismiss the case, contending that the SEC has given adequate proof that the exchange might be abusing Security laws with its trading and staking products. This will offer the SEC the chance to demonstrate its case. While the judge's decision clearly conflicts with Coinbase at this stage, the exchange has asserted that it had expected the ruling. Coinbase will challenge the lawsuit, with chief legal officer Paul Grewal expressing confidence in the organization's legal argument. In the meantime, the crypto space has united behind Coinbase, with Edward Snowden driving the voices for a Co...

SEC’s Reliance on Terra Case Sparks Debate in Binance and Coinbase Lawsuits

10Jan

By CryptolifedigitalNo Comments

Blockchain

SEC’s Reliance on Terra Case Sparks Debate in Binance and Coinbase Lawsuits

The ongoing legal battle between the US Securities and Exchange Commission (SEC) and major crypto exchanges Binance and Coinbase has taken an intriguing turn as the SEC filed a notice of the supplemental authority, citing the judgment in SEC v. Terraform Labs as a significant precedent. However, legal experts, including prominent figure Bill Morgan, have raised questions about the direct relevance and applicability of the Terra ruling to the SEC's cases against Binance and Coinbase. Read Also: Shiba Inu Ignites Crypto Frenzy: Surges in Token Burn Rate Propel Bullish Run and Price Gains The SEC's strategic move to leverage the Terra ruling The SEC's strategic move to leverage the Terra ruling in its case against Binance, Binance.US, and former CEO Changpeng 'CZ' Zhao aims to influence ...

Terraform Labs Faces SEC Setback as Judge Rules Luna and MIR Tokens as Securities

30Dec

By OLAJIDE SAMUELNo Comments

Blockchain

Terraform Labs Faces SEC Setback as Judge Rules Luna and MIR Tokens as Securities

In a significant development in the ongoing legal battle between Terraform Labs and the U.S. Securities and Exchange Commission (SEC), a pivotal ruling was delivered on December 28 by United States Federal Judge Jed Rakoff. The judge declared that tokens associated with Terraform Labs, including Luna and MIR, are to be classified as securities. This ruling marks a crucial turning point in the lawsuit initiated in February and is expected to have far-reaching implications for Terraform Labs and the involved cryptocurrencies. Read Also: Nigeria's Policy Shift Unleashes Potential for XRP Surge as Banks Reconnect with Crypto Exchanges https://twitter.com/LogllNews/status/1740608042041798966 Key Points from the Latest Ruling Securities Violation: Judge Jed Rakoff's summary judgment ...

Ripple To Celebrate Victory Against SEC; Date Announced

29Aug

By Daniel AbangNo Comments

Ripple News

Ripple To Celebrate Victory Against SEC; Date Announced

Ripple Labs, one of the prominent figures in the blockchain space has revealed plans to have a celebratory triumph gathering following its win against the Security and Exchange Commission (SEC). Following a tweet yesterday, Ripple said the expected occasion will happen on the 9th of September this year in New York City. more insight is expected to be provided regarding the event this week according to Ripple's team.. https://twitter.com/Ripple/status/1696251365213851742 Furthermore, the CEO of Ripple Garlinghouse expressed their readiness while announcing the coming event on his handle According to his statement; "As promised - it's time for that proper victory part" Similarly, he expressed the company's ordeal during the years of the legal battle. "I look forward to s...

Attorney John Deaton Reiterates XRP’s Non-Security Status, Draws Comparisons to GRAM Token

4Jul

By OLAJIDE SAMUELNo Comments

XRP News

Attorney John Deaton Reiterates XRP’s Non-Security Status, Draws Comparisons to GRAM Token

In a recent Twitter thread, Attorney John Deaton, Managing Partner at Deaton Law Firm, emphasized XRP's Non-Security Status. Deaton, a prominent crypto advocate, expressed confidence that Judge Analisa Torres would address the issue of XRP secondary sales and the token's classification in the ongoing SEC vs Ripple case. This assertion follows Deaton's earlier comment suggesting that the judge would discuss these aspects. Read Also: BONE Surpasses ETH and BTC, Attracting Attention from Seasoned Crypto Enthusiast Eric Cryptoman https://twitter.com/JohnEDeaton1/status/1675913360469110792 Deaton fights continuously on XRP's Non-Security Status Deaton disagreed with other experienced lawyers who believed that Judge Torres would avoid commenting on the token itself. According to Deaton, ...

Binance.US and SEC Reach Agreement to Secure Customer Funds Amidst Lawsuit

17Jun

By CryptolifedigitalNo Comments

Blockchain

Binance.US and SEC Reach Agreement to Secure Customer Funds Amidst Lawsuit

Binance, Binance.US, and the Securities and Exchange Commission (SEC) announced on Friday a proposed agreement that seeks to ensure the security of customer funds held by Binance.US in the short term. The deal is still pending approval from a federal judge overseeing the case. The proposed deal aims to address SEC's concerns while the broader lawsuit unfolds As part of the proposed agreement, Binance.US will take significant measures to prevent officials from Binance Holdings (referring to the global exchange) from accessing private keys for its wallets, hardware wallets, or obtaining root access to Binance.US's Amazon Web Services tools. This step aims to provide enhanced security and prevent any unauthorized access to customer funds. Read Also: Shibarium Testnet V2 Launch: Claim You...

Charles Hoskinson and David Schwartz Challenge SEC’s Classification of ADA as a Security in Binance and Coinbase Lawsuits

12Jun

By Cryptolifedigital1 Comment

Cryptocurrency

Charles Hoskinson and David Schwartz Challenge SEC’s Classification of ADA as a Security in Binance and Coinbase Lawsuits

The recent lawsuits filed by the U.S. Securities and Exchange Commission (SEC) against Binance and Coinbase have triggered a response from prominent figures in the cryptocurrency space. Charles Hoskinson, the founder of Cardano (ADA), and David Schwartz, Ripple's Chief Technology Officer (CTO), have expressed their concerns over the SEC's classification of ADA as a security in these cases. Their reactions came in response to tweets from Bill Morgan, a pro-XRP attorney, who questioned the validity of the SEC's argument. The SEC's lawsuits against Binance and Coinbase accuse the exchanges of facilitating unregistered securities transactions. Interestingly, the Commission includes ADA on the list of alleged securities in both cases, sparking a debate within the crypto community. Bill Morg...

XRP Community Unveils New Evidence For SEC Dishonest In Its Claims In The Ongoing Lawsuits

24Apr

By OLAJIDE SAMUELNo Comments

Uncategorized

XRP Community Unveils New Evidence For SEC Dishonest In Its Claims In The Ongoing Lawsuits

A member of the XRP community has shared new evidence that they believe shows the Securities and Exchange Commission (SEC) was dishonest in its claims in the ongoing Ripple lawsuit. The lawsuit centres on whether XRP, a cryptocurrency created by Ripple, is security and should have been registered with the SEC. The new evidence was shared by the XRP community member on social media and suggests that the SEC was aware of the legal status of XRP as far back as 2012, contradicting its claims that it was unclear whether XRP was security until much later. The evidence consists of emails between SEC officials and third-party individuals discussing XRP's legal status. Read Also: Concerning Terraport Hack, Terra Classic To Lock Up $2 Million Worth Of Funds Community of XRP Shows Evidence Tha...

11Apr

By CryptolifedigitalNo Comments

Crypto Guides

What To Know About Ripple and XRP

Ripple is a blockchain-based platform that was designed to facilitate faster, cheaper, and more secure cross-border payments. The platform was created by Ripple Labs Inc. in 2012 and is based on a decentralized ledger technology called the XRP Ledger. XRP is the native digital currency of the Ripple network. It was created as a means of facilitating faster and more cost-effective cross-border payments. Unlike traditional fiat currencies, XRP is a decentralized cryptocurrency that is not controlled by any central authority. It is designed to be used as a bridge currency for facilitating transactions between different currencies. In this article, we will explore the key features and benefits of Ripple and XRP, as well as the challenges and opportunities they present for the wider crypt...

Deaton Predicts Another Date For The Termination Of The Battle Between Ripple And SEC.

8Apr

By OLAJIDE SAMUELNo Comments

Ripple News

Deaton Predicts Another Date For The Termination Of The Battle Between Ripple And SEC.

According to recent reports, there is a possibility that the Ripple vs. SEC summary judgment could come before May 6, 2023. This information was shared by lawyer and XRP supporter, John Deaton, who analyzed the timeline of Judge Sarah Netburn's recent ruling in the case. Deaton Predicts Termination Date For Battle SEC And Ripple In an interview with Thinking Crypto, attorney Deaton, representing thousands of XRP holders in the lawsuit, speculates that Judge Torres’ ruling might come on or before May 6. Read Also: Terraport's First-ever LUNC Burn Accounts For 100M Terra classic “[…] There was a case where it [summary judgment] was two weeks between. And then there was a case when it was 30 days between, and then there was a case when it was 60 days, right? So what I’ve been telling...