Regulation

United States Securities and Exchange Commission (SEC) chair Gary Gensler has commented publicly about the last week’s ruling on the agency’s suit against Ripple.  Gensler gave a talk on artificial intelligence at the National Press Club on July 17 and was asked about the ruling during the questions and answers afterward. Does the ruling affect his stance

ChatGPT eats cannibals ChatGPT hype is starting to wane, with Google searches for “ChatGPT” down 40% from its peak in April, while web traffic to OpenAI’s ChatGPT website has been down almost 10% in the past month.  This is only to be expected — however GPT-4 users are also reporting the model seems considerably dumber

In every major litigation, there comes a moment when you realize it’s time to settle. A ruling doesn’t go your way, a juror gives your legal team the side eye, the judge makes it clear it’s time for a settlement conference. After Judge Analisa Torres’ decision in SEC v. Ripple, the time has come for

Former Securities and Exchange Commission official John Reed Stark spoke out against the recent ruling on Ripple Lab’s case, calling the decision “troublesome on multiple fronts” in a LinkedIn analysis. Stark broke down Judge Analisa Torres’ decision from July 13 by examining the grounds upon which she ruled in favor of Ripple in a lawsuit

Ripple CEO Brad Garlinghouse believes the United States Securities and Exchange Commission (SEC) will face a prolonged process before having the chance to appeal Judge’s Torres favorable ruling in the case against Ripple.  On July 13, Judge Torres ruled partially in favor of Ripple Labs in a case brought forth by the Securities and Exchange

Senator Cynthia Lummis, a Republican from Wyoming, has taken to Twitter to emphasize the significance of a recent court ruling by Judge Analisa Torres, which declared that the Ripple-associated token XRP should not be considered a security. Senator Lummis highlighted that this ruling underscores the urgent need for Congress to establish a comprehensive and unambiguous

United States presidential candidate Ron DeSantis once again criticized central bank digital currencies (CBDCs), arguing against the possibility of a digital dollar in the country.  Speaking at the Family Leadership Summit on July 14, DeSantis promised to ban CBDCs in the U.S. if he is elected president. “If I am the president, on day one,

A third-party entity named “Eeon” has stepped forward to intervene in the case, representing the interests of Binance’s customers regarding the lawsuit filed by the United States Securities and Exchange Commission (SEC) against Binance. As stated in the filing with the District Court for the District of Columbia, Eeon claims that the SEC and Binance’s

The U.S. Securities and Exchange Commission (SEC) has argued in court that approving a firm’s S-1 application to go public, does not represent a “blessing” from the agency, nor provide a verification that the business is regulatory compliant. In the interest of transparency, here is the transcript from our hearing yesterday in the SDNY case

United States-based cryptocurrency exchange Coinbase has announced it will be temporarily stopping customers from staking additional assets in four states amid legal proceedings from local regulators. In a July 14 blog post, Coinbase said users in California, New Jersey, South Carolina, and Wisconsin would be restricted from using certain staking services until further notice. Following

British society is both civil and democratic, so it wasn’t unexpected that the government of the United Kingdom would “consult” the public before signing off on a digital version of the British pound. The response it received may have been surprising, though. The public canvassing conducted jointly by His Majesty’s Treasury and the Bank of

Ripple Labs’ split-decision victory against the United States securities regulator is being seen as a significant blow to the regulator’s “war on crypto,” however, crypto lawyers warn it isn’t a definitive victory for the industry. In a landmark ruling on July 13, Judge Torres determined that XRP (XRP) is not a security — at least

Argentina welcomed its first Bitcoin (BTC) futures contract on July 13, just three months after the country’s securities watchdog approved the underlying index as part of a strategic innovation agenda. According to Matba Rofex, the trading platform behind the investment vehicle, it is the first Bitcoin futures contract in Latin America. In a futures contract, buyers

Europe’s first spot Bitcoin (BTC) exchange-traded fund (ETF) is set to debut later this year after a year-long delay. The Bitcoin ETF by Jacobi Asset Management, a London-based multi-asset investment platform, was set to debut on the Euronext Amsterdam Exchange under the ticker BCOIN in July 2022.  However, unprecedented market conditions aided by the collapse

Prosecutors from the United States and agents from the Internal Revenue Service (IRS) are reportedly investigating wealthy crypto traders and fund managers suspected of illegally benefiting from Puerto Rico’s tax breaks.  According to a June 12 report from Bloomberg, investigators are currently building civil and criminal cases against a number of hedge fund managers, crypto

The United States-based crypto advocacy group Blockchain Association has submitted a letter to the Securities and Exchange Commission’s (SEC) Office of Inspector General calling for an investigation into crypto firm Prometheum. In a July 12 letter, the Blockchain Association requested SEC inspector general Deborah Jeffrey look into the Financial Industry Regulatory Authority’s approval of Prometheum’s