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Ripple Clarifies XRP Is Not a Security After New Court Ruling

Ripple Clarifies XRP Is Not a Security After New Court RulingRipple’s chief legal officer has clarified that a California district judge has dismissed all allegations that Ripple violated federal securities laws. He stressed that District Judge Analisa Torres’ ruling regarding the non-security status of XRP “stands undisturbed.” New York’s ‘Ruling That XRP Is Not a Security Stands Undisturbed’ Following the ruling by the U.S. District […]

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Ripple Wins Partial Summary Judgment in Securities Lawsuit

Ripple Wins Partial Summary Judgment in Securities LawsuitThe U.S. District Court for the Northern District of California has issued an order granting in part and denying in part the motion for summary judgment in a lawsuit concerning allegations of securities law violations against Ripple Labs, XRP II, and Ripple CEO Brad Garlinghouse. Court Ruling on Ripple’s Securities Lawsuit The U.S. District Court […]

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Ripple faces securities suit in California over CEO’s ‘misleading statement’

Judge Phyllis Hamilton found XRP could be a security when sold to retail and gave the go-ahead to a lawsuit over statements from Ripple CEO Brad Garlinghouse.

A United States federal court judge has greenlit a civil securities lawsuit against Ripple Labs, denying its summary judgment bid in a suit alleging its CEO broke California securities laws.

California District Court Judge Phyllis Hamilton’s June 20 order means a jury will decide if Ripple boss Brad Garlinghouse made “misleading statements” in a 2017 interview, the order has thrown out four allegations around Ripple’s “failure to register XRP as a security.”

In the 2017 interview on Canada’s BNN Bloomberg, Garlinghouse said he was “very, very long” on XRP (XRP) — but the suit alleges that was false as he “sold millions of XRP” throughout that year.

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What Is the Howey Test? Understanding Its Role in Crypto Regulation

What Is the Howey Test? Understanding Its Role in Crypto RegulationThis year, with the U.S. Securities and Exchange Commission (SEC) increasing enforcement on businesses accused of offering unregistered crypto securities to American investors, regulators, attorneys, and judges have been utilizing the Howey Test to ascertain whether specific crypto assets constitute an “investment contract” and thereby fall under U.S. securities laws. Below is an in-depth exploration […]

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White House Won’t Veto Passage of FIT21 Despite Opposition From SEC Chair Gary Gensler

White House Won’t Veto Passage of FIT21 Despite Opposition From SEC Chair Gary Gensler

The White House has signalled it won’t veto the passage of the FIT21 bill despite U.S. Securities and Exchange Commission Chair Gary Gensler advocating against it. In a new press release, the White House says it does not support HR 4763, also known as the Financial Innovation and Technology for the 21st Century Act (FIT21), […]

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Coinbase Legal Chief Urges SEC Chair to Stop Misleading the Market About Crypto Tokens Being Securities

Coinbase Legal Chief Urges SEC Chair to Stop Misleading the Market About Crypto Tokens Being SecuritiesCoinbase’s chief legal officer has publicly urged U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler to stop misleading the market regarding crypto tokens being securities. His request followed Gensler’s repeated assertions that numerous crypto tokens conform to the legal definition of securities, thereby requiring compliance with SEC regulations. Coinbase’s CLO to Gensler: Please Stop […]

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Coinbase Gets Hit With New Class Action Lawsuit Accusing Crypto Exchange of Selling Digital Asset Securities

Coinbase Gets Hit With New Class Action Lawsuit Accusing Crypto Exchange of Selling Digital Asset Securities

A newly filed class-action complaint alleges that Coinbase violated US securities laws. The complaint, which was filed in the Northern District of California’s San Francisco division on Friday, claims that the top US crypto exchange has been operating as “part of a shadowy crypto ecosystem operating just outside of the law.” “Its entire business model […]

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Class Action Lawsuit Claims Coinbase Operates as Unregistered Broker

Class Action Lawsuit Claims Coinbase Operates as Unregistered BrokerA new class action lawsuit was initiated against the San Francisco-based cryptocurrency exchange Coinbase on May 3. The legal action claims that Coinbase deliberately sold securities that are unregistered with regulatory authorities. Additionally, the lawsuit charges Coinbase with operating as an unregistered securities broker. Lawsuit Alleges Coinbase Illegally Sold Securities Without Registration According to legal […]

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Judge Denies Coinbase Dismissal Request; CEO Hails Win for Self-Custody Wallets

Judge Denies Coinbase Dismissal Request; CEO Hails Win for Self-Custody WalletsNew York Judge Katherine Polk Failla has ruled that the U.S. Securities and Exchange Commission (SEC) has “sufficiently pleaded” its case and the lawsuit will move forward. Legal Battle Ahead: Coinbase Dismissal Motion Rejected by Judge On Wednesday, the most recent legal filings revealed that Judge Katherine Polk Failla has declined Coinbase’s request to dismiss […]

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SEC Chair Gary Gensler Refuses To Comment on Whether Ethereum Is a Security, Likens Crypto to a Roller Coaster

SEC Chair Gary Gensler Refuses To Comment on Whether Ethereum Is a Security, Likens Crypto to a Roller Coaster

U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler is declining to comment on whether smart contract platform Ethereum (ETH) counts as a security or a commodity. In a new interview with Bloomberg Television, Gensler says he does not want to answer questions about Ethereum’s classification as an asset amid anticipation of the regulatory agency’s […]

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