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.
SEC argued that Hinman’s speech was a personal errand while also claiming he received legal counsel from SEC lawyers, and Judge Netburn isn’t impressed.
The communications in question preceded Hinman’s June 2018 speech in which he declared that tokens based on networks that were “sufficiently decentralized” didn’t meet the ‘Howey test.’
Coinbase doesn’t care about anything other than making money. For them, the law is secondary and they intentionally chose to overlook it.
The BSV network has processed over 10 million transactions in the past 24 hours, reaching past 9 million and even 9.6 million in a 24-hour period—making it responsible for over 78% of all blockchain-based transactions worldwide.
The co-founder of ‘crypto’ token/commodity Ripple wants BTC to shift to a Proof of Stake consensus mechanism, apparently because he believes the hobbled BTC tech is still not hobbled enough.
The Australian Competition & Consumer Commission has taken federal level court action against Meta, alleging that the tech company is engaging in misleading and deceptive conduct over its publishing of scam advertisements.