Ripple argued that XRP profits came from “market forces of supply and demand” rather than any contract between Ripple and XRP token holders.
Ripple counsel: SEC’s shakedowns leave consumers holding the bag
The response comes as Ripple Labs and other critics believe the SEC has overstepped its mark on the enforcement of the crypto space.
Gillibrand and Lummis state that most altcoins are securities
“Most cryptocurrencies go to the SEC […] Bitcoin and Ether would be certainly commodities, and that’s agreed upon,” said the U.S. Senator from New York Kirsten Gillibrand.
SEC’s ‘Crypto Mom’ warns selling fractionalized NFTs could break the law
Fractionalized NFTs and baskets of non-fungible tokens could easily be considered investment contracts under U.S. securities law, warns SEC Commissioner, Hester Peirce.
ICO SoluTech to Cease and Desist Under Terms of SEC Settlement; Co-Founder Fined
SoluTech, which violated securities laws and misrepresented its revenue during the token sale, now must destroy all its tokens.
The Novel Legal Strategy Bringing This ICO-Backed ‘Micro-Mobility’ Startup to Court
Lawyers have filed suit in a “highly unusual” case against flamboyant Italian e-scooter entrepreneur Salvator Palella, over a troubled ICO back in 2018.
California Assembly Considers Exempting Some Digital Assets From State Securities Law
A key lawmaker in the California Assembly has proposed exempting some digital assets from the state’s definition of corporate securities.
Telegram Ruling Closes Another Door to Legally-Compliant Token Sales
A recent ruling stopping Telegram from distributing its cryptocurrency creates new legal peril for public blockchains, argues lawyer Josh Lawler.
SEC Blasts Kik’s ‘Void for Vagueness’ Defense of 2017 ICO
Kik wants to depose top SEC officials, and expose that they were making it up as they went. But the SEC is having none of it.
Howey Schmowey – The Real Answer is to Update Securities Regulations
The SEC should focus more on fraud prevention than if an asset is a security, as fraud can be committed with securities too, argues David Weisberger.