In the unfolding saga of the Celsius bankruptcy case, a proposal was presented to elevate the defunct crypto enterprise’s native token, CEL, to a valuation of $0.80 each. Yet, the overseeing U.S. bankruptcy judge, Martin Glenn, dismissed this proposal. Consequently, Celsius’s creditors are rallying to set the token’s worth at a more modest $0.25 apiece.…
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The U.S. Securities and Exchange Commission (SEC) has filed a motion to certify an interlocutory appeal of two rulings in the Ripple case regarding XRP. According to the securities regulator, “Immediate appeal of these rulings is warranted … because they involve controlling questions of law.” SEC v Ripple Case Update On Friday, the U.S. Securities…
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A senior U.S. district judge has rejected the approach taken in the Securities and Exchange Commission (SEC) v. Ripple ruling regarding XRP. “The court declines to draw a distinction between these coins based on their manner of sale,” explained the district judge presiding over the SEC v. Terraform Labs case. Judge Rakoff Rejects Approach in…
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On July 13, 2023, the U.S. District Court for the Southern District of New York (SDNY) finally issued an order in the infamous case brought by the Securities and Exchange Commission (SEC) against the payment settlement system and currency exchange, Ripple Labs, Inc. (Ripple). District Judge Analisa Torres’ highly anticipated order has been touted as…
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The U.S. Securities and Exchange Commission (SEC) has told a federal court that some portions of the Ripple ruling regarding XRP “were wrongly decided.” The regulator has asked the court to ignore parts of the ruling, noting that “SEC staff is considering the various available avenues for further review and intends to recommend that the…
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According to court documents, the SEC stated that it is now “considering the various available avenues for further review” on the ruling which found XRP to not be a security. The U.S. Securities and Exchange Commission has suggested that it may appeal a recent ruling on the Ripple Labs lawsuit, which deemed XRP to not…
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Throughout the last year, the U.S. Securities and Exchange Commission (SEC) has identified numerous crypto assets as securities in cases involving Binance, Bittrex, Coinbase, Terra’s Do Kwon, Tron’s Justin Sun, and several more. The aggregate worth of these prominent digital assets, considered securities, currently amounts to $98 billion, making up over 8% of the cryptocurrency…
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Several U.S. lawmakers have called on Congress to pass crypto legislation following the court ruling on the U.S. Securities and Exchange Commission (SEC) v. Ripple case regarding XRP. “Gary Gensler’s SEC cannot continue to pursue its regulation by enforcement approach, which only harms investors and creates uncertainty,” said one lawmaker. US Lawmakers Call on Congress…
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A legal expert has warned that the district court ruling on XRP “rests on very shaky ground.” Expecting an appeal, he cautioned that Ripple’s victory “may be a short-lived victory,” claiming that the judge “got the law wrong.” Lawyer on Ruling of SEC v Ripple Case Lawyer Bryan Jacoutot shared his analysis of the ruling…
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