As Ripple fends off SEC lawyers, XRP enjoys an explosive weekend pump
The Securities and Exchange Commission, or SEC, is an independent agency within the United States government tasked with regulating the securities markets in a way that protects the public from fraud, maintains fair and efficient markets, and facilitates healthy capital formation in the U.S. and its jurisdictions.
The emergence of cryptocurrencies with the advent of Bitcoin (BTC) directly challenged the hegemonic order of the legacy financial system and quickly provoked ire and distrust from various regulatory authorities.
The SEC, however, remained largely quiet on securities law applicability to cryptocurrencies and fundraising events until July 2017 when the agency published their report on the DAO project, concluding that the sale of DAO tokens was in fact an unregistered securities offering and therefore subject to securities laws. This was published in the context of the initial coin offering, or ICO, craze of 2017 to2018.
Since then, the SEC has slowly brought cases against various projects such as halting the launch of the highly anticipated Telegram blockchain network, TON, in October 2019, thus setting legal precedent for all current and future blockchain ventures.
The SEC is one of the most powerful regulatory agencies in the world, as most countries often wait to see how the U.S. regulates certain industries before implementing their own legislation and regulatory frameworks.
Since the start of April, the surge in price of XRP has been backed by high tweet volumes, which approached relative highs.25184
The popular trading app offers commission-free trading for Bitcoin, Ether and other cryptocurrencies.12071
Vesta's new platform gives homeowners the ability to convert equity into digital assets that can then be sold to accredited investors without compounding interest.12962
An XRP advocate started a petition to SEC chair nominee Gary Gensler, asking him to end the lawsuit against Ripple should he be confirmed as the new chair.19882
"We think we're likely to see one in the coming year or two, but we don't have a firm timeframe as to when the answer would be yes," said Todd Rosenbluth.13305
Goldman Sachs CEO David Soloman has forecast a big evolution in how the U.S. government regulates cryptocurrency.23232
Ripple’s lawyers will dig through the SEC’s internal discussion on crypto for mention of XRP.25442
The stablecoin issuer completed a successful pilot test for same-day trade settlements with Credit Suisse and Instinet.6086
INX has been accepting cryptocurrencies like Bitcoin and Ether for its SEC-approved security token IPO since September 2020.9035
Crypto lending platform Nexo has been accused causing $5 million worth of client liquidations after suspending the use of XRP as collateral without warning in December.9841
After skyrocketing above $370 following the Reddit-driven short squeeze, GameStop shares are now trading at around $160.12563
The former SEC chairman warns that regulation will come both directly and indirectly.28463
Bitcoin exposure has been added to the end of “Other Securities and Investment Strategies” sections for a dozen investment funds.10936
Secretary-general Ruenvadee Suwanmongkol said the commission will be offering a free training course for investors who have no experience trading in cryptocurrencies.4611