Includes news and discussions about regulatory measures, legal challenges, and the legal environment affecting cryptocurrencies.
Iowa AG Brenna Bird, backed by six states, challenges SEC over crypto regulation, claiming it stifles innovation and oversteps state laws. The coalition demands clear congressional authorization for such vast oversight. #Cryptocurrency #Update
Crypto leaders foresee major regulatory shifts if Trump wins in 2024. Under Biden, the SEC, led by Gary Gensler, tightened crypto oversight, especially post-FTX collapse. A Trump administration could ease pressures on key players like $XRP, $COIN, and $BNB. #Crypto #Update
The SEC rescheduled its closed meeting to July 25, raising hopes for a Ripple ($XRP) case resolution. However, XRP lawyer Bill Morgan clarifies that the meeting is unrelated to Ripple v SEC. The case, significant for crypto regulations, continues with no current settlement. #CryptoNews
The SEC has formed the Interagency Securities Council (ISC) to tackle securities and crypto fraud, involving 100+ federal, state, and local agencies. Led by Chair Gurbir S. Grewal, the ISC aims to boost collaboration and fight scams using social media and deepfake tech. #InvestorProtection
Ripple is contesting the SEC’s $2B fine, offering a $10M settlement instead. Ripple argues there were no findings of fraud and claims the demand is excessive. The outcome could reshape U.S. crypto regulations. #CryptoNews #Update
The Enterprise Ethereum Alliance launches DeFi Risk Assessment Guidelines to address regulatory ambiguities and improve compliance. It influences licensing in Abu Dhabi and the EU, aiding financial giants like @BlackRock, @jpmorgan, and @GoldmanSachs. #DeFi
South Korea issues arrest warrant for Jon Bur Kim, aka “Coin King,” for allegedly embezzling $14.5M and manipulating altcoin prices. Accusations include bribery and creating a fake token, Podocoin. #CryptoFraud #Update
Ripple CEO Brad Garlinghouse expects a resolution soon in the SEC v. XRP case, critical for U.S. crypto regulation. Despite a partial win last year, XRP’s status as a security for institutions remains unsettled. Garlinghouse urges clear rules, citing the EU’s MiCA as a model. #CryptoRegulation
SEC’s @HesterPeirce hints at reconsidering staking for spot $ETH ETFs, potentially boosting investor returns. This could reshape the regulatory landscape and investor strategies. Ethereum’s price surged above $3,500 following the news. #Crypto #Update
Judge Katherine Polk Failla delayed Tornado Cash co-founder Roman Storm’s trial to Dec. 2 from Sep. 23 due to complex legal issues. The case, involving $7B laundered since 2019, could redefine #DeFi developer responsibilities. #Update
OKX to cease operations in Nigeria by August 16 due to regulatory changes. Users advised to close positions and withdraw funds. This follows a trend of crypto firms exiting Nigeria amid rising regulatory challenges. #CryptoNews
Pixelverse partners with Notcoin (NOT) to reward communities via staking, quests, and marketing, with a $250K prize pool. PIXFI token lists on Bybit and Bitrue, with trading starting July 18. Bybit supports ETH deposits, while Bitrue offers zero trading fees for seven days. #Update
FTX agrees to a $12.7B settlement with the CFTC over fraud allegations, aiming to expedite Chapter 11 proceedings and compensate creditors. $4B is for disgorgement and $8.7B for damages. Court review on Aug 6, 2024. #CryptoRegulation #Update
#Update Empower Oversight seeks transparency from the US SEC over conflicts of interest in crypto regulation. FOIA requests target ex-SEC officials William Hinman and Jay Clayton’s roles with $BTC, $ETH, and $XRP. Delays spark lawsuits, highlighting SEC’s alleged lack of transparency. #CryptoNews
