SEC Financial News

The Securities and Exchange Commission announced Tuesday that it will almost double its staff responsible for protecting investors in cryptocurrency markets.

XRP opened May with a decent price rebound after falling 28% in April, its worst monthly performance since June 2021. Furthermore, the XRP/USD pair shows prospects of continuing its recovery trend in the coming weeks.

Judge Analisa Torres brought forward the SEC v Ripple calendar to expedite proceedings. The SEC has made several extensions to address one key issue that continues to weaken its case against Ripple. As new developments emerge, further delays could come into play.

LONDON — Barclays on Thursday said had suspended its planned share buyback program on the back of a costly trading error in the U.S.

WASHINGTON—A Securities and Exchange Commission proposal intended to make Treasury markets more resilient has sparked a backlash from cryptocurrency companies, which say it could increase legal risks for so-called decentralized finance, or DeFi, platforms.

In a recent episode of the “All-In” podcast, Coinbase CEO, Brian Armstrong, gave his opinion on issues related to the irregularity around the cryptocurrency regulatory landscape, his thoughts on how viewing cryptocurrency as one big ocean is outright incorrect, and his way of moving forward with the regulatory bodies in the future.

Every few days or so, a new case update from the U.S. Securities and Exchange Commission’s lawsuit against Ripple can trigger dramatic changes in the price of the highly-contested crypto asset XRP. That seems to have been the case once again as the coin noted significant losses in the past day and week.

The Securities and Exchange’s (SEC) relationship withspot Bitcoin ETF applicants continues to take interesting turns with this new development. But, the result remains constant: indefinite delay. An ETF is an investment vehicle that tracks the performance of a particular asset or group of assets. ETFs allow investors to efficiently diversify their portfolios without directly owning the assets.

The ever-lasting lawsuit between the Securities and Exchange (SEC) and the fintech firm, Ripple began in December 2020. Since then, the lawsuit witnessed allegations of constant delays, the case hasn’t come close to a conclusion yet. The SEC time and again doing everything it can to delay. This time is no different as there are talks of further delays.

Ripple, the San Francisco-based blockchain company, has admittedly seen more success and received warmer welcomes abroad than within the USA. So naturally, many investors and XRP-holders want to know where the company is looking at next to launch new projects and partnerships. And to that end, a statement by the company published on 20 April suggests where Ripple might be focusing in the near future.

Things are looking up for the United States’ largest institutional Bitcoin (BTC) product by asset holdings as pressure mounts on regulators.

Asset manager Simplify has filed a registration statement with the United States Securities and Exchange Commission to list shares of an exchange-traded fund linked to Bitcoin futures, Treasury securities, and options.

Ripple Labs, the San Francisco-based fintech firm, has maintained its offensive attacks against the SEC amidst the ongoing lawsuit. However, it might be time for its supporters to put some hard brakes on that “winning” sentiment. 

The United States Securities Exchange Commission (SEC) and its Chairman Gary Gensler have received a slew of letters from pressure groups and parliamentarians voicing their concerns about proposed amendments to the Exchange Act, established in the 1930s. The agency plans to expand the legal definition of what an exchange is.

Ranking member of the United States House Financial Services Committee Patrick McHenry and ranking member of the Subcommittee on Investor Protection, Entrepreneurship and Capital Markets Bill Huizenga sent a letter Monday to Securities Exchange Commission (SEC) Chairman Gary Gensler to express their concerns about proposed SEC amendments to the Exchange Act of 1934 that would expand the definition of an exchange and the phrase “as a part of regular business.” The congressmen said the changes could stifle innovation in the digital asset ecosystem.

Several bitcoin futures exchange-traded funds are now trading in the U.S, with more to come. For example, SEC approved the Teucrium Bitcoin Futures ETF earlier this month, filed under the Securities Act of 1933. Also, otherBitcoin Futures ETFs approved over the last year were approved under the Investment Company Act of 1940.

Last week was the Paris Blockchain Week, and the epicenter of crypto policy and regulatory conversation moved to the French capital accordingly. Cointelegraph reported extensively from the ground and ran a series of interviews with some of the crypto industry’s captains who shared their thoughts on the state of regulatory affairs. For one, Binance’s Changpeng Zhao said that he was excited to see regulators embracing financial innovation and introducing crypto-friendly policies, calling it a major trend of 2022. Bertrand Perez, chief operating officer of the Web3 Foundation, opined that many policymakers, including some in the European Union, still tend to act too fast on crypto regulation without getting properly educated on the subject first. Ripple’s Brad Garlinghouse even filled in the Blockchain Week crowd on the latest developments in the company’s court struggle against the United States Securities and Exchange Commission, which indeed saw some upside for the issuer of Ripple’s XRP.

As the adoption of crypto takes off, the industry is exerting increasing influence on American society. This can be seen in its lobbying efforts and political action committees, for example, and in its own organizational efforts, such as business associations that promote it at the state, regional and national levels. Another way crypto is influencing society is through self-regulation. 

In a recent conversation with ThinkingCrypto host Tony Edward, Ripple CTO, David Schwartz spoke about the ongoing SEC lawsuit, Ripple’s vision of development for the future, and his views about President Biden’s latest executive order.

The SEC VS XRP lawsuit just keeps getting interesting with every passing day. In the latest turn of events, SEC has requested for an extension of time to file its Objection to Magistrate Judge Netburn’s Ruling on the motion for reconsideration of the DPP ruling.

The fight to protect consumers from bad investment advice has been a multi-year saga.