SEC Financial News

However, Ripple's victory in the case brought by the SEC was only partial, with US district judge Analisa Torres also ruling that institutional sale of XRP did violate federal securities law.Nevertheless, the news sent XRP's price soaring 75% late on Thursday, with Ripple CEO Brad Garlinghouse telling Reuters that the ruling is a “a huge win for Ripple but more importantly for the industry overall in the US”.Crypto exchange Coinbase quickly said it will add XRP back to its platform and saw its own share price jump by over 20%.The SEC filed suit against Ripple, Garlinghouse and co-founder Christian Larsen in 2020, alleging that they "raised over $1.3 billion through an unregistered, ongoing digital asset securities offering".The judge has ruled that "programmatic" sales - through exchanges and algorithms - were not offers of securities under the law because it could not be said with certainty that buyers had “a reasonable expectation of profits to be derived from the entrepreneurial or managerial efforts of others".

A U.S. District Judge has set the bail for the former CEO of Celsius Alex Mashinsky at $40 million. 

US Congressman Ritchie Torres recently requested for two separate independent investigations into the US SEC. 

On July 13, 2023, Ripple Labs, a cryptocurrency-based software company, secured victory in its legal battle against United States (US) Securities and Exchange Commission (SEC). Experts believe that this development can help create the long-awaited regulatory landscape around the cryptocurrency industry. 

Keeping on the right side of regulators is the life blood of investment advisor firms’ compliance officers, but what specifically is on their minds right now?

Cryptocurrency markets were trading higher, with the total global crypto market cap rising 6.3% to $1.26 trillion in Friday's trade. Bitcoin (BTC) rose 3% to $31,341, whereas Ethereum (ETH) was above the 2,000 level. Meanwhile, Ripple's XRP token rallied over 68% to $0.7949. A US District Judge ruled on Thursday that Ripple Labs did not violate federal securities law by selling its XRP token on public exchanges, a decision that sent the value of the token soaring by as much as 68% in the last 24 hours. «Crypto coins experienced a rise in value following a federal judge's decision in the SEC's lawsuit against Ripple Labs, which was seen as a victory for the industry in terms of defining securities,» said ZebPay Trade Desk.

Ripple CTO David Schwartz has issued a warning regarding a new wave of scams targeting investors amid the recent court ruling in favor of Ripple Labs. 

Disclaimer: The text below is a press release that is not part of  Cryptonews.com  editorial content.

In a surprising development, a ruling by US District Judge Analisa Torres may significantly impact the regulatory landscape for cryptocurrencies. In a lawsuit filed by the Securities and Exchange Commission (SEC) against Ripple Labs, Judge Torres concluded that a substantial portion of Ripple’s digital tokens, known as XRP, were not subject to securities registration requirements.

The United States Securities and Exchange Commission (SEC) could be investigated for a “haphazard and heavy-handed approach to digital assets” or, more specifically, for its “sweetheart deal” with crypto platform Prometheum. 

Bitcoin, the leading cryptocurrency, is currently trading at $31,449, marking a notable surge of over 3.5% on Friday. 

US crypto exchanges Coinbase, Kraken, Gemini, Crypto.com and Bitstamp have announced to relist XRP after a US federal court ruled that selling the token on exchanges did not constitute an investment contract. 

The SEC revealed it would not be pursuing a controversial 'swing pricing' rule, which was opposed by many asset managers.

Polygon (MATIC) has experienced a significant price increase on July 13, driven by several key factors. These include a recent positive court ruling for XRP, increased activity of decentralized applications (Dapps) on the Polygon Network, and the highly anticipated launch of Polygon 2.0.

Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges, a US judge ruled on Thursday, a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring. XRP was up 75% by late afternoon on Thursday, according to Refinitiv Eikon data. The ruling by US District Judge Analisa Torres was the first win for a cryptocurrency company in a case brought by the US Securities and Exchange Commission — though it did also give the SEC a partial victory.

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 or the firm y

Alex Mashinsky, founder and former CEO of bankrupt cryptocurrency lender Celsius Network, pleaded not guilty Thursday to U.S. fraud charges that he misled customers and artificially inflated the value of his company's propriety crypto token. Three federal regulatory agencies also sued Mashinsky and Celsius in connection with the case.

Ripple (XRP) has now become the fourth largest cryptocurrency by market capitalization after Ripple Labs’ partial victory over the Securities and Exchange Commission (SEC) on July 13. 

Coinbase's legal team argued in a recent legal filing that a recent U.S. Supreme Court judgment on student debt cancellation supports their fight against SEC charges of operating an unregistered securities venue. 

Despite concerns reports that one of the largest SHIB holding wallet moved nearly $30 million to eight different wallets on Thursday, which could signal that the wallet’s owner intends to dump these tokens onto the market, Shiba Inu (SHIB) pumped 6.5% on the day.

This July 14 Bitcoin weekly options expiry holds the potential to be a significant turning point for market sentiment, potentially leading to a breach below the crucial $30,000 support level.