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Securities and Exchange Commission

SEC’s Mark Uyeda has strong chance of becoming next chair — Lawyer

The SEC’s “Crypto Mom” Hester Peirce is unlikely to replace Gary Gensler as the new chair, crypto lawyer Jake Chervinsky said.

As Donald Trump prepares to take office as president of the United States in January 2025, the cryptocurrency community is speculating on the most likely candidates to lead the US Securities and Exchange Commission.

Mark Uyeda, an SEC commissioner, is seen as a strong candidate for the role, according to crypto attorney Jake Chervinsky in an X post on Nov. 6.

Commissioner Uyeda is known for criticizing the crypto regulatory approach by current SEC Chair Gary Gensler, having in October called his policies a “disaster for the whole industry.”

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Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Immutable pledges to fight after SEC ‘sprayed and prayed’ Wells notice

Blockchain gaming platform Immutable says it received a Wells notice from the SEC over alleged securities law violations within "hours" of its first interaction with the regulator.

Crypto gaming platform Immutable has pledged to fight any potential enforcement action from the United States Securities and Exchange Commission after receiving a Wells notice from the regulator. 

In a Nov. 1 statement, Immutable said that while the SEC did not specify its allegations in the notice, it believes the agency’s claims are targeting the “listing and private sales” of its native IMX token in 2021. 

Source: Immutable

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Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Immutable pledges to fight after SEC ‘sprayed and prayed’ Wells notice

Blockchain gaming platform Immutable says it received a Wells notice from the SEC over alleged securities law violations within "hours" of its first interaction with the regulator.

Crypto gaming platform Immutable has pledged to fight any potential enforcement action from the United States Securities and Exchange Commission after receiving a Wells notice from the regulator. 

In a Nov. 1 statement, Immutable said that while the SEC did not specify its allegations in the notice, it believes the agency’s claims are targeting the “listing and private sales” of its native IMX token in 2021. 

Source: Immutable

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Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

SEC approves NYSE, CBOE listings of Bitcoin options ETFs

Traders believe that the approval of options for Bitcoin exchange-traded funds will inject much-needed liquidity into the markets.

On Oct. 18, the United States Securities and Exchange Commission (SEC) approved applications from the New York Stock Exchange (NYSE) and the Chicago Board Options Exchange (CBOE) to list the long-anticipated options for spot Bitcoin (BTC) exchange-traded funds (ETFs).

Options trading will now be available for the 11 approved ETF providers on the NYSE, including Fidelity Wise Origin Bitcoin Fund, ARK21Shares Bitcoin ETF, Invesco Galaxy Bitcoin ETF, Franklin Bitcoin ETF, VanEck Bitcoin Trust, WisdomTree's Bitcoin Fund, Grayscale's Bitcoin Trust, Grayscale Bitcoin Mini Trust, Bitwise Bitcoin ETF, BlackRock's iShares Bitcoin Trust ETF, and the Valkyrie Bitcoin Fund.

The Chicago Board Options Exchange also filed an application to list options for the spot Bitcoin ETF providers in August 2024 through a proposed rule change. This change in regulatory policy puts Bitcoin ETF options in the same category as other commodity-based ETFs, which the SEC approved to be listed on the CBOE, with the exception of Grayscale's Bitcoin Mini Trust.

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Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Chevron overturn unlikely to impact SEC’s conduct — Ripple CLO

In 2023 alone, the Securities and Exchange Commission filed over 20 lawsuits against firms and individuals in the crypto industry.

Ripple’s chief legal officer Stuart Alderoty believes that the June 2024 overturn of Chevron USA Inc. vs. Natural Resources Defense Council by the United States Supreme Court will have little impact on the Securities and Exchange Commission’s (SEC) strategy of pursuing crypto compliance through enforcement.

In an interview with Cointelegraph’s Turner Wright, Alderoty stressed that only a leadership change would cause a shift in SEC posturing.

“I think under this leadership, the SEC has done tremendous institutional damage to what was once a very well-respected agency,” the Ripple CLO said.

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Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Crypto.com sues SEC to ‘protect the future of crypto’ in US

Crypto.com’s lawsuit against the US SEC follows the exchange’s receipt of a Wells notice from the agency.

Major cryptocurrency exchange and service provider Crypto.com is launching a legal battle against the United States Securities and Exchange Commission with the goal of protecting the future of the crypto industry in the country.

Kris Marszalek, co-founder and CEO of Crypto.com, took to X on Oct. 8 to officially announce that the company has filed a suit against the US SEC.

“This unprecedented action by our company against a federal agency is a warranted response to the SEC’s regulation by enforcement regime, which has hurt more than 50 million American crypto holders,” he wrote.

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Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

Coinbase urges court to reconsider appeal, cites SEC vs Ripple

The Securities and Exchange Commission (SEC) sued Coinbase in June 2023 and accused the company of selling unregistered securities.

Attorneys for Coinbase urged Southern District of New York judge Katherine Failla to reconsider an interlocutory appeal filed on behalf of the exchange in April 2024 — citing the Securities and Exchange Commission's (SEC) recent notice of appeal in the Ripple lawsuit.

According to an Oct. 5 letter, lawyers for Coinbase argued that the SEC's appeal is an admission that the criteria listed in the regulator's Howey Test — a set of conditions that must all be fulfilled to classify a financial instrument as a security — were ambiguous and warranted closer examination.

Lawyers for Coinbase send letter to court urging approval of an interlocutory appeal first filed in April 2024. Source: Eleanor Terrett.

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Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

SEC files appeal in Ripple lawsuit

The Securities and Exchange Commission first filed the lawsuit against Ripple Labs and both its founders in December 2020.

The United States Securities and Exchange Commission (SEC) filed a notice of appeal in the Ripple lawsuit on Oct. 2, 2024, seeking to overturn an earlier ruling from Judge Analisa Torres.

Legal experts anticipated the regulatory agency's appeal of the 2023 verdict set by Judge Torres, which established that secondary sales of Ripple's XRP did not constitute securities sales.

Torres ruled that XRP was not a security, in and of itself, due to the digital assets' failure to satisfy all the conditions listed in the SEC's Howey test to classify a financial asset as an investment contract.

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Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

SEC crypto ‘overreach’ cost small investors $15B: John Deaton

According to a popular pro-crypto attorney and Senate candidate, the SEC's overreach into the crypto industry has cost retail investors over $15 billion in losses.

According to a prominent pro-crypto attorney and Senate candidate, the Securities and Exchange Commission’s (SEC) excessive intervention in the cryptocurrency industry has resulted in retail investors losing over $15 billion.

The US securities regulator has often been criticized for its enforcement-heavy regulatory regime over the cryptocurrency industry.

The SEC should be held accountable for its actions, as its “gross overreach” cost investors $15 billion, according to John Deaton, lawyer and Republican US Senate candidate.

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Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum

SEC Warns FTX Bankruptcy Estate it May ‘Challenge’ Distributions to Creditors Involving Crypto Assets

SEC Warns FTX Bankruptcy Estate it May ‘Challenge’ Distributions to Creditors Involving Crypto Assets

The U.S. Securities and Exchange Commission (SEC) is signaling potential objection to FTX’s proposed plan to repay creditors with stablecoins. In a new official court filing, the SEC acknowledges that FTX’s Chapter 11 repayment plan may not be illegal while maintaining that the regulatory agency has the right to challenge any transactions involving crypto. “The […]

The post SEC Warns FTX Bankruptcy Estate it May ‘Challenge’ Distributions to Creditors Involving Crypto Assets appeared first on The Daily Hodl.

Crypto Trader Says One Top-50 Altcoin Could Go Up by Over 100%, Updates Outlook on Bitcoin and Ethereum