SEC wants Hinman speech materials sealed in court battle with Ripple
The securities regulator filed a motion claiming that the Hinman speech materials need to be sealed as they “unquestionably reflect confidential deliberations” by its officials.
The securities regulator filed a motion claiming that the Hinman speech materials need to be sealed as they “unquestionably reflect confidential deliberations” by its officials.
The FTX's collapse is the final imperative for global lawmakers to enact a string of regulations in the digital asset sector, while the event also led to a tug-of-war game between two state agencies.
A total of 16 companies, made up mostly of 'crypto' interest groups, have filed an amicus curiae in the SEC vs. Ripple saga, about a week after the U.S. state agency won its case against LBRY.
Ripple recommends that British lawmakers set up an overarching regulatory framework, increase its regulatory resources, and commit to public education to sustain its ambition of becoming a tech hub.
The tight regulations on the digital asset space are not the problem but instead, turning the original Bitcoin into a gambling of speculations.
LBRY lost its battle against the SEC following a federal judge's ruling that the LBC tokens are securities, sending a signal that Ripple may likely face the same fate.
The SEC claimed "attorney-client privilege" and "deliberative process privilege" to keep the Hinman docs from Ripple, but Judge Torres has ruled against it.
The visit by CFTC’s Caroline Pham, who criticized the SEC’s “regulation by enforcement” earlier this year, comes as both agencies fight for digital currency industry oversight.
The chamber has requested to file an amicus brief in the Ripple case, and while it’s doubtful if XRP is a security, it called for clear and consistent laws.
BSV's transaction volume peaked at over 33.5 million transactions in a 24-hour period this week. And at the time of writing, the average transaction fee is around 0.000003 BSV, or US$0.00015.
Most crypto assets (coins or tokens) are securities, and illegal ones at that, as they meet the Howey test and have not been issued/distributed in compliance with the securities law.
The securities watchdog also wants to bar attorney John Deaton from aiding Ripple, claiming the intervention would unduly delay or prejudice the court process.