The European Securities and Markets Authority (ESMA) has issued a warning regarding investments in assets like cryptocurrencies. They will remain unregulated in most countries until the EU’s Markets in Crypto Assets (MiCA) law is enforced across the Union, the regulator pointed out. ESMA Highlights Risks Related to Unregulated Products and Services for Crypto and Other…
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The court case between SEC and Ripple Labs has been ongoing for nearly two and a half years, but a summary judgment ruling could be made any day. The ongoing case of the Securities and Exchange Commission v Ripple Labs could have a significant impact on the future of cryptocurrency regulations. Ripple first popped up…
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The regulator has asked Grayscale to withdraw its application for a Filecoin Trust product, saying it believes its underlying asset is a security. The United States Securities and Exchange Commission (SEC) has asked Grayscale Investments to pull its application for a Filecoin Trust, warning that its underlying asset, Filecoin (FIL), can be seen as a security.…
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The SEC originally wanted LBRY to pay millions of dollars in penalties, but now concedes the defunct firm can’t pay up that amount. The United States securities regulator is seeking to revise its $22 million punishment against decentralized content platform LBRY, acknowledging it is unlikely to be able to cough up the funds to be…
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Federal securities laws only apply in the United States, but the protocols were developed overseas, argues Terraform Labs. Terraform Labs is seeking to have a class action lawsuit against the firm dismissed, arguing the United States securities laws referenced are not applicable to its foreign-developed protocols. On May 3, Terraform Labs requested a California federal…
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Major crypto exchange Coinbase continues its pushback against the US securities regulator, telling the agency that it would be a “well-resourced adversary” if sued. Coinbase responded to a notice sent last month by the US Securities and Exchange Commission (SEC), which suggested that the agency has an enforcement action in mind. In its response, the…
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The 2018 MIT professor Gary Gensler didn’t think most ICOs triggered U.S. securities laws. The crypto community is calling out the hypocrisy of Gary Gensler, the head of the United States securities regulator, after a 2018 video emerged of him stating that cryptocurrencies are on par with commodities or cash and are not securities. The…
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The venture capital firm pointed out the fundamental differences between crypto assets and securities. Criticisms of the United States Securities and Exchange Commission are mounting as the agency remains unrelenting in its war on crypto. On April 21, Web3 venture capital firm Paradigm published a policy piece on the problems with SEC registration. It claimed…
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In a court case linked to the now-defunct crypto exchange Gatecoin, a Hong Kong judge has ruled that cryptocurrencies are “property” which is “capable of being held on trust.” According to the law firm Hogan Lovells, this case should provide greater clarity to insolvency practitioners and other common law jurisdictions. Hong Kong Judge Designates Crypto…
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According to the recent complaint by the U.S. Securities and Exchange Commission (SEC) against Bittrex, the securities regulator insists that a few crypto asset tokens were offered and sold as investment contracts and are securities. The news follows the SEC’s designation of several crypto assets as securities, including the case against Terraform Labs, which insists…
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