The SEC has filed litigation against Consensys, claiming Terra Luna Classic ($LUNC), Polygon ($MATIC), The Sandbox ($SAND), Chiliz ($CHZ), and Decentraland ($MANA) are securities. The SEC says these tokens were marketed with profit promises and facilitated trading via MetaMask Swaps. #Update
FATF report: Only 42% of jurisdictions fully comply with the “travel rule” for virtual assets, while 58% regulate VASPs. Developing countries lag in compliance. International cooperation is crucial to combat financial crime. #CryptoRegulation #Update
The European Union’s Markets in Crypto-Assets Regulation (MiCA) aims to standardize crypto regulations, balancing innovation and investor protection. However, it restricts non-Euro stablecoins and lacks support for interoperability, potentially limiting liquidity and growth. #CryptoRegulation
SCOTUS limits SEC’s power in a landmark ruling, benefiting crypto platforms like $XRP and $TON. Galaxy Fox (@GalaxyFoxCrypto) raises $6M in presale, set to thrive as a $1 meme coin in 2024. #CryptoNews
SEC grants exceptions to big banks & brokerages from SAB 121 rules on crypto assets. These entities can exclude customers’ crypto holdings from balance sheets, provided they manage risks. This move favors larger financial firms, sparking industry backlash. #CryptoRegulation
Ripple vs. SEC lawsuit nears conclusion. With key legal wins, Ripple’s $XRP sees a 17% price surge, reclaiming $0.50. Judge Torres’ pending judgment could set a precedent for U.S. crypto regulation. Total XRP futures open interest rises by 19% to $1.18B. #CryptoNews
The renomination of anti-crypto SEC Commissioner Caroline Crenshaw may be delayed until post-2024 Elections due to Senate scheduling. Crenshaw, known for opposing Bitcoin ETFs, could impact SEC’s stance on crypto. Senate changes could shift SEC power balance. #Crypto #SEC
SEC remains silent on spot Ethereum ETF approval, leaving market participants in suspense. $ETH holders and major players are accumulating in anticipation. Approval could attract $1B monthly and push $ETH past $3,200, potentially sparking a bull run to $4,000. #Ethereum #Update
Ripple CEO Brad Garlinghouse and CLO Stuart Alderoty mark the first anniversary of Judge Torres’ ruling declaring $XRP not a security. This decision curbed SEC overreach and boosted $XRP’s market cap by 6% and trading volume by 46%. #CryptoNews
US Rep. Tom Emmer accuses SEC Chair Gary Gensler of “regulation-by-harassment,” demanding his dismissal. Mark Cuban echoes the call, citing harm to crypto growth. Crypto leaders warn current SEC practices may hurt Biden’s re-election. #CryptoRegulation
Stacks ($STX) surged 9% after the SEC concluded a three-year investigation into Hiro Systems, formerly Blockstack, without recommending enforcement action. This decision, following a similar outcome for Paxos, boosted market sentiment. $STX reached $1.71, marking a significant regulatory win for the crypto sector. #CryptoNews
The SEC has closed its investigation into Paxos’ $BUSD stablecoin, opting not to pursue enforcement actions. The NYDFS had earlier classified BUSD as a security, but Paxos continued supporting withdrawals. Former CFTC Chairman Giancarlo joins Paxos’ board. #CryptoRegulation
Judge denies Coinbase’s request to subpoena SEC Chair Gensler for testimony in ongoing legal case. Coinbase sought Gensler’s 2017-2024 correspondence, calling it crucial for SEC’s crypto stance. Judge Failla criticized the move as time-wasting, urging better dialogue. #CryptoRegulation #Update
SEC eases crypto reporting rules for banks, mitigating risk measures. This update, post-FTX bankruptcy, reduces capital requirements, enabling banks to offer crypto custody services. Balance investor risk and financial stability. #CryptoRegulation #Update
