The U.S. securities regulator has requested a federal judge compel Ripple to produce more financial statements related to institutional sales of XRP, which were deemed illegal securities offerings in a 2023 ruling.
As a dramatic 2023 for digital assets draws to a close, CoinGeek speaks with Stephanie Breslow, co-author of 'Hedge Funds: Formation, Operation and Regulation' and partner at U.S. law firm Schulte Roth & Zabel, on the state of digital asset regulation in the U.S. at the court cases defining it.
The pump-and-dump of the XRP on Monday was triggered by reports of BlackRock's filing for an ETF in the U.S., which was confirmed to be fake, with the firm's exec saying it was made by "some whacko."
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 next step in the SEC v Ripple case is to see what Ripple ends up paying for its sales of XRP and if the SEC decides to appeal the earlier ruling.
As Ripple prepares to head to trial against the U.S. securities regulator, another of its executives, Kristina Campbell, decides to exit the firm following a whirlwind of intense regulatory scrutiny.
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.
SEC Chair Gary Gensler attended a House hearing, where he was slammed for "choking off" the digital asset sector, quizzed about BTC, spot ETPs, and ongoing court cases against exchanges.
The latest SEC submission to the U.S. District Court comes as a rebuttal to a September 1 filing by Ripple, which asserted that an appeal delayed the resolution of the overall case.
A recent report on the “Trends in Regulation of Digital Assets” covers global trends in regulation, with a particular focus on U.S. developments.
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.
Lawyers for Ripple Labs filed a letter with the federal judge overseeing its lawsuit against the U.S. SEC, opposing the regulator's expected interlocutory appeal of a July 13 ruling in the case.
