In a recent court hearing, judges expressed skepticism regarding the SEC’s denial of Coinbase’s petition for rulemaking. Coinbase filed this petition on July 22, 2022, seeking clarity on regulatory guidelines. The SEC officially rejected the petition on July 27, 2023, claiming that it had already established sufficient guidelines. This case
U.S. federal judge Allen has denied Green United’s motion to dismiss a lawsuit filed by the Securities and Exchange Commission (SEC), accusing the Utah-based company of running an $18 million crypto mining scam. The SEC alleges that Green United misled investors by selling fake cryptocurrency mining equipment and violating federal
A possible appeal of Judge Torres’ XRP case findings is being considered, according to recent developments in the Ripple vs. SEC lawsuits. Legal counsel asserts that the SEC will wait until the last possible moment to announce its decision. Also, according to ex-SEC attorneys, the regulator will almost certainly file
In a recent post on X, Consensys announced it had filed a lawsuit against the SEC in April 2024 to safeguard the Ethereum ecosystem. The Texas court dismissed the lawsuit on procedural grounds without addressing the substance of the claims against the SEC. Prompting Consensys to express concern over the
Terraform Labs has received the green light from a U.S. bankruptcy court to begin winding down its operations following the resolution of a prolonged legal case with the U.S. Securities and Exchange Commission (SEC), according to reports from September 19. The U.S. Bankruptcy Judge Brendan Shannon approved Terraform’s bankruptcy plan,
On Wednesday, the U.S. Securities and Exchange Commission (SEC) announced a settlement with Rari Capital, a decentralized finance (DeFi) protocol, along with its co-founders, over allegations of “misleading investors and engaging in unregistered brokerage activities.” In a recent announcement, the SEC stated that Rari Capital’s Earn and Fuse pools operated
In an era where cryptocurrencies and blockchain technology are reshaping the financial landscape. Calls for reforming regulatory frameworks are becoming increasingly urgent. Mark Uyeda, the SEC commissioner wants the Securities and Exchange Commission (SEC) to update Form S-1, the standard registration statement for public offerings. This is to better accommodate
Pudgy Penguins is a prominent Web3 brand featuring a collection of 8,888 non-fungible tokens (NFTs) launched on the Ethereum blockchain. The CEO of Pudgy Penguins recently described the SEC’s crackdown on NFTs as “nonsense,” asserting that he remains unworried by the regulatory actions taken by the U.S. Securities and Exchange
Two U.S. Securities and Exchange Commission (SEC) commissioners have expressed dissent over their agency’s $750,000 settlement with Flyfish Club, a restaurant using non-fungible tokens (NFTs) to sell memberships. The SEC’s Sept. 16 order stated Flyfish conducted an unregistered sale of crypto asset securities by offering 1,600 NFTs, raising $14.8 million.
World Liberty Financial (WLFI), a crypto project backed by the Trump family, confirmed its plans to launch a governance token during a live stream. The token will be offered under an SEC Regulation D exemption, Rule 506(c) allowing only accredited investors to participate. Unlike typical crypto tokens, the WLFI token
