MoneyGram suspends Ripple relationship over SEC lawsuit
MoneyGram said it would no longer be using Ripple’s XRP remittance solution until the payments firm sorts out its legal issues with the U.S. securities regulator.
MoneyGram said it would no longer be using Ripple’s XRP remittance solution until the payments firm sorts out its legal issues with the U.S. securities regulator.
The firm, which operates a mobile application allowing users to trade digital currencies, sold its CSD tokens to investors, according to federal authorities.
In a letter to the judge in the case, both Ripple and the U.S. Securities and Exchange Commission said they “do not believe there is a prospect for settlement at this time.”
The Securities and Exchange Commission is set to conduct a public hearing to determine what qualifications traders need before getting into the digital currency industry.
BitAccelerate, which also goes by the name BitAccelerator, claims to be a crowdfunding platform on the blockchain offering long-term active and passive income investment plans via referrals.
The U.S. Securities and Exchange Commission is beefing up the enforcement powers of its investigation teams, signaling a more robust approach to regulation during the Biden administration.
Bitkub exchange will now have to address five key areas as outlined by the watchdog, including integrating a system that’s better suited to handling spikes in trading volume.
Kristijan Krstic and John DeMarr also allegedly operated and promoted Start Options as a digital asset mining and trading platform with “the largest Bitcoin exchange in euro volume and liquidity.”
The alleged digital currency scammers on the SEC’s list include Axtrading Investment, SmartCoins24, RetireWell Investors and Passive Trade Plan.
The Thai Securities and Exchange Commission has ordered Bitkub to improve its technical infrastructure after an unacceptable level of trading outages.
The Swiss blockchain technology company is being sued under U.S. securities laws, with investors arguing that the U.S. rules should still apply to the firm’s unregistered digital tokens.
The court approved the bid from investor Tetragon to prevent Ripple from buying any more XRP, or redeeming other investor stock, until Tetragon’s stake had been redeemed.