U.S. regulators made their stance about 'crypto' clear, with the SEC taking 784 enforcement actions against 'crypto' firms and individuals in 2023, while the CFTC filed 96 digital asset cases.
The U.S. securities regulator believes there's no need for a trial as there is "no genuine dispute as to any material fact," and no "rational jury" would believe Do Kwon isn't guilty.
Following a lengthy investigation into the Terra collapse, Terraform Labs and Do Kwon filed a motion to dismiss the SEC case, claiming that the probe didn't yield any result proving their misdeed.
The digital asset lender has five days from the date of the order to comply by handing over the Securities and Exchange Commission’s requested documents, creating a deadline of October 18.
Judge Analisa Torres set a trial date for April 23, 2024, for the remaining issues on the SEC v Ripple case, with both parties expected to submit pretrial filings by the end of the year.
The Securities and Exchange Commission argued that assets listed on Coinbase exchange clearly amount to securities under U.S. law.
Do Kwon's lawyers claim that their client agreed to submit to the deposition, which was requested by the SEC to take place in October, if it would happen in Montenegro, where he is currently jailed.
The U.S. Securities and Exchange Commission and South Korean investigators are set to question Terra co-founder Daniel Shin about the dealings between Chai Corporation and Terraform Labs.
Both the SEC and Ripple will have a chance to argue whether the finance regulator is entitled to file an appeal this month; the court expects SEC v Ripple to go to trial sometime in Q2 of 2024.
Prosecutors in South Korea plans to leverage the recent XRP ruling against Terraform Labs CEO Do Kwon's alleged securities fraud acts.
South Korea intensified efforts to combat digital currency misconduct by introducing a specialized crime-fighting unit probing digital currency offenses like asset seizures.
The federal judge in charge of looking at the SEC v Ripple case dismissed the prospect that secondary market and programmatic sales could amount to securities.
