The post XRP Lawsuit News: Ex-SEC Lawyer Reveals Ripple Was Discussed Weekly, Predicts Possible Dismissal of Appeal appeared first on Coinpedia Fintech News

There are rumors that Ripple and the SEC will have a closed meeting, which could lead to a significant development in the XRP case. Speculation suggests that the meeting may result in the case being closed or dropped entirely, with answers expected soon.

A user reacted to this, praising the XRP community for its unwavering perseverance. Despite being wrong many times, the community continues to stay positive and hopeful, showing up every month for updates.

Former SEC lawyer Marc Fagel weighed in, saying he has attended hundreds of these meetings, and Ripple has been a topic of discussion in almost every single one.

He wrote on X,

“I started attending in the late 1990s, and they were already talking about settling with Ripple. It’s always been a highlight of the weekly meeting.”

Fagel believes the SEC will continue on its current path for now, filing the opening brief as planned. He also pointed out that the new SEC chair could take some time to be confirmed, and it’s possible that they may vote to dismiss the appeal. Though it’s an unusual step, Fagel thinks it’s a possibility if the right people are in charge.

I think they continue on the current path (i.e. file the opening brief as scheduled) for now. It'll take time for the new Chair to be confirmed. Does the new SEC then vote to dismiss the appeal? Maybe. It's highly unprecedented, but I can see Atkins/Peirce/Uyeda taking that step.

— Marc Fagel (@Marc_Fagel) December 20, 2024

Also Read :

  SEC Commissioner Hester Peirce Signals SEC’s Shift Toward Pro-Crypto Innovation

  ,

SEC’s Shutdown, RLUSD Live and More

In other news, the SEC is preparing for a government shutdown, which could impact its operations. Government shutdowns and financial instability, like the US government’s debt issues, have added pressure on the market.

Ripple’s RLUSD launch had positive price action initially but has since been impacted by market downturns. Brad Garlinghouse, Ripple’s CEO, believes RLUSD will be big for the company’s future. With SEC’s clarity and possible case dismissal, XRP might be up for a massive rally.

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The post XRP lawsuit: Key U.S. Court Dates Revealed Amid SEC Shutdown Fears! appeared first on Coinpedia Fintech News

The U.S. Court of Appeals has just revealed key dates for the explosive lawsuit filed by Bradley Sostack against Ripple. In the meantime, the US Securities and Exchange Commission (SEC) is working to file its main brief before Chairman Gary Gensler leaves, but a potential government shutdown may cause delays. Here’s Why!

Ripple Lawsuit: Key Dates Set

The U.S. Court has ordered Plaintiff Bradley Sostack to submit a Mediation Questionnaire by December 23 similar to the US SEC appeals filing. Following that, the court expects the Appeals Transcript Order by December 31, and the full transcript by January 30. 

Meanwhile, Sostack will file his opening brief on March 6, 2025, outlining his claims against Ripple and its CEO, Brad Garlinghouse. 

Although Ripple Labs, XRP II, and Garlinghouse’s response is due by April 7, 2025. If either party fails to meet these deadlines, the appeal could be dismissed. 

Previous Court Rulings

The recent announcement follows earlier court rulings that have been favorable to Ripple. Despite this, Bradley Sostack is still pushing forward with his claims. Judge Phyllis Hamilton recently approved a motion to amend the decision about judgment and the stay in the case

Both sides proposed a new order, agreeing there was no need to postpone the judgment since the class claims were already settled.

SEC Prepares for Shutdown

In the meantime, the Securities and Exchange Commission (SEC), which is also involved in the Ripple lawsuit, faces challenges of its own. The U.S. government is approaching a potential shutdown due to budgetary issues. 

The situation could delay the SEC’s response to the appeal, with some analysts predicting that the ongoing legal battle could be paused. This delay might relieve some immediate pressure on Ripple, but it could also push back any resolution that might bring clarity to the regulatory status of XRP.

Pro-Ripple (XRP) attorney and Republican John Deaton shared a TikTok video on his X account, which featured American comedian Jon Stewart raising the alarm over the US Department of Defence’s “unmonitored” spending. Deaton quoted the video, saying it is why Elon Musk-led D.O.G.E. is “necessary.”

Stewart highlighted the disconnect between the Pentagon’s budget and the realities faced by service members. “We got out of 20 years of war, and the Pentagon got a raise,” Stewart remarked. “I can’t figure out how $850 billion to a department means that the rank and file still have to be on food stamps. To me, that’s f*cking corruption.”

Dragonchain attorney and pro-crypto Republican John Deaton quoted a TikTok video that included an interview on his X account, saying, “If you think Elon Musk and Vivek Ramaswamy’s D.O.G.E isn’t necessary, watch this.”

Deaton, who also supports XRP, seemingly suggested that the Department of Government Efficiency (D.O.G.E.) could bring much-needed accountability to departments like the Pentagon.

Legal tensions in the US SEC’s crypto cases

Deaton’s criticism extended to the ongoing legal conflict between the US Securities and Exchange Commission (SEC) and various crypto firms, including the case against Dragonchain. The SEC has accused Dragonchain of unregistered crypto asset security offerings, just like it had done to Ripple Labs and its token XRP.

In a recent court filing related to the SEC’s case, Deaton lashed out at the agency’s aggressive tactics, claiming that certain SEC lawyers continue to bully American entrepreneurs, especially those in the crypto sector.

“Certain lawyers at the SEC are continuing their bully tactics in non-fraud crypto cases against American entrepreneurs,” Deaton said on X. He added that Dragonchain, which originated from Disney, is “as American as it gets.” 

Certain lawyers at the @SECGov are continuing their bullying tactics in non-fraud crypto cases against American entrepreneurs. @dragonchain originated out of Disney. You don’t get more American than that. @GaryGensler and his cronies won’t do what’s right, so we fight. https://t.co/LsOT5E8WXj

— John E Deaton (@JohnEDeaton1) December 21, 2024

The court filing also raised concerns about the SEC’s current approach to litigation, citing upcoming changes in leadership that could affect the agency’s strategy. 

“There are fast-approaching changes to SEC leadership and enforcement priorities,” the filing read. “This case meets those criteria,” referencing an expected shift away from litigation that does not involve investor fraud or imminent harm.

Shifting SEC leadership

As Deaton and other legal experts continue to challenge the SEC’s enforcement strategies, the agency itself is undergoing a period of transition. The departure of SEC Chair Gary Gensler, who has been heavily involved in crypto-related enforcement, has sparked speculation about the future direction of the agency. 

Gensler’s tenure has been marked by aggressive actions against cryptocurrency firms, including high-profile lawsuits against Ripple, Coinbase, and Binance.

John Reed Stark, former chief of the SEC’s Office of Internet Enforcement, criticized Gensler’s approach, suggesting that the financial authority’s leadership has become too entrenched in aggressive enforcement tactics. Stark noted the promotion of several senior enforcement officers who have been at the forefront of the agency’s crypto crackdown.

“SEC Chair Gary Gensler is clearly attempting to pilot the SEC Enforcement Division from the grave,” Stark remarked. “Since Donald Trump’s election, Gensler has promoted five Senior Officers within the SEC Enforcement Division at SEC Headquarters. Four of these SEC enforcement staff cut their teeth as SEC crypto-enforcement superstars.”

Stark speculated that the incoming leadership, expected to follow a pro-crypto agenda, could bring about significant changes in the way the agency handles crypto enforcement cases. However, he warned that seasoned enforcement staff might face challenges in adapting to new policies.

However, the incoming pro-crypto agenda under the regulator’s chair nominee Paul Atkins may signal a shift in how the agency handles such cases moving forward. Under this new leadership, the SEC could change its approach to enforcement, particularly in cases involving companies like Ripple, Coinbase, and others embroiled in similar legal battles.

A Step-By-Step System To Launching Your Web3 Career and Landing High-Paying Crypto Jobs in 90 Days.

The U.S. Securities and Exchange Commission (SEC) is gearing up for a potential government shutdown, a move that could disrupt key financial operations and create uncertainty in the markets. While the SEC aims to prioritize its core mission of protecting investors and maintaining market integrity, non-essential activities may face suspension, leading to significant delays for companies and investors alike.

SEC’s Priorities Amid a Potential Shutdown

As the SEC braces for the possibility of a government shutdown, it plans to continue essential operations, such as maintaining the EDGAR database and protecting federal assets. However, many critical but non-essential functions, like reviewing registration filings, could be paused. This reduction in services is expected to result in slower processes for companies and heightened uncertainty for market participants.

The shutdown would limit the SEC’s capacity to respond to inquiries, process exemptions, or provide no-action letters, potentially delaying corporate actions like capital raising and public offerings. The resulting backlog could have a ripple effect, increasing costs and complicating market activities.

Ripple Effects on Companies and Investors

During the shutdown, the SEC’s Corporate Finance division would be unable to review or approve registration documents, causing delays in critical filings. For companies planning to raise new capital, this pause could derail timelines and strategies. Investors, meanwhile, may experience reduced transparency as fewer documents and reports are reviewed or processed.

Additionally, the inability to obtain timely responses from the SEC could force companies to explore alternative solutions, adding complexity to an already challenging situation.

Leadership Changes Loom

Adding to the uncertainty, SEC Chair Gary Gensler has announced his retirement effective January 20. President Donald Trump has nominated former SEC Commissioner Paul Atkins, known for his conservative views, to succeed Gensler. The incoming leadership is likely to mark a shift in the SEC’s approach, moving away from Gensler’s aggressive regulatory stance toward a more restrained framework.

According to The Bit Journal, Atkins’ appointment could usher in a new era for the SEC, with potential implications for both enforcement actions and market oversight. This leadership transition is expected to impact how the SEC addresses high-profile cases and regulatory priorities moving forward.

What Happens to XRP and Other Key Cases?

Attorney Jeremy Hogan has suggested that the SEC should prioritize ethical decision-making during this turbulent period. Hogan highlighted the need to postpone non-critical litigation, including cases like Ripple (XRP), to prevent unnecessary harm to investors. However, with the shutdown and leadership changes on the horizon, the SEC’s ability to manage these cases effectively remains uncertain.

Investors are left wondering how these developments will affect ongoing litigation and market stability. The SEC’s commitment to investor protection is unwavering, but operational disruptions could lead to heightened volatility and anxiety in the markets.

The Takeaway

The SEC’s shutdown preparations could delay essential market activities.

Companies and investors may face increased uncertainty and higher costs.

Leadership changes could signal a shift in regulatory priorities.

High-profile cases like Ripple (XRP) could see delays, raising concerns among investors.

As The Bit Journal reports, these developments highlight the critical importance of maintaining transparency and adaptability in the face of regulatory challenges. The crypto market and broader financial ecosystem will need to brace for the potential impacts of a prolonged shutdown and a changing regulatory landscape.

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SEC preparing for shutdown

According to the SEC's recentalert, it is currentlypreparing for a potential federal government shutdown. The agency has stated that it will focus on essential functions, particularly those related to market integrity and investor protection, while its internal EDGAR database system, which is used for tracking government filings, will remain operational. However, nonessential operations will be suspended during the shutdown. On Wednesday, the House of Representatives delayed a vote on a bipartisan government funding bill, which raised concerns about a potential shutdown. Such a scenario would result in government employees not receiving their pay during the holidays, while also causing disruptions to various services, including food assistance. Besides, the SEC may cease routine reviews of filings, such as ETF applications, although it will continue to pursue cases of fraud and market manipulation.

Shiba Inu (SHIB) whales selling rapidly: Details

Yesterday, Shiba Inu witnesseda significant sell-off, as a SHIB whale liquidated 250 billion SHIB, valued at approximately $6.05 million. This whale entered the Shiba Inu market back in August 2020, purchasing 15.28 trillion SHIB, which peaked at a value of $1.22 billion. The total profit realized by the investor over the course of their holdings constitutes $109 million, and they still retain 2.15 trillion SHIB, worth around $52.18 million. The recent liquidation raises concerns about changing whale behavior, which can influence retail market sentiment and increase volatility. At writing time, SHIB is changing hands at $0.00002041, down 15.94% over the past 24 hours; the asset failed to maintain both support levels at $0.00002283 and $0.00002045, which may indicate potential further declines.

Millions of RLUSD ready to hit market after recent launch

Following the launch of the much-anticipated RLUSD stablecoin earlier this week, Ripple continues minting stablecoins, withover 10 million RLUSD created over the previous two days. According todata provided by the Ripple Stablecoin Tracker, more than 10.3 million RLUSD were transferred in batches, including 1.5 million sent from the Ripple Treasury to the Lithuania-based crypto exchange Uphold. Meanwhile, Ripple President Monica Long spoke on the freshly launched RLUSD in a recent interview. She highlighted the stablecoin market's current valuation of approximately $160 billion, and it is predicted that it could grow to around $3 trillion within the next four years. Long emphasized the increasing demand for stablecoins that focus on regulatory compliance, diversification and utility, all of which RLUSD aims to provide. She believes that for Ripple, the launch of RLUSD is another big step in continuing to “bridge the gap between traditional finance and blockchain.”

The SEC announced a potential change in operational status.

Advocate Jeremy Hogan advised the SEC to file a stay on all non-fraud litigation. 

XRP has dropped to the 4th position in the market and trades at $2.28.

The lawsuit filed by the United States Securities and Exchange Commission (SEC) against Ripple regarding the sale of XRP tokens may be approaching its conclusion. The SEC recently announced changes to its operating status, which will align with federal government directives during a potential government shutdown caused by budgetary constraints.

With Donald Trump elected as the next U.S. president and his appointment of Paul Atkins as the SEC’s new Chair, the agency is set for significant changes. Pro-crypto leadership at the SEC could reshape regulatory dynamics and have substantial implications for the cryptocurrency market.

Jeremy Hogan, a partner at Hogan & Hogan, urged the SEC via X (formerly Twitter) to “file for stays on all non-fraud litigation that poses no immediate risk to investors.” Hogan argued this approach would be appropriate given the looming government shutdown and the incoming crypto-friendly administration.

Timeli…

The post Ripple vs SEC: Final Chapter for Crypto’s Biggest Case appeared first on Coin Edition.

The post XRP Lawsuit To End Soon? SEC Prepares For ‘Potential’ Shutdown appeared first on Coinpedia Fintech News

The SEC is preparing for a possible government shutdown, focusing on essential functions like market integrity and investor protection. Its EDGAR database will still be available, but some non-essential operations will be paused. Although the SEC’s operations may be affected, the agency will prioritize its main mission of overseeing market activities and protecting investors, especially during uncertain times.

Attorney Jeremy Hogan reacted to the news and wrote, “Dear SEC,Now might be a smart time to file for stays on all non-fraud litigation with no imminent investor harm. In fact, with both the looming shutdown AND incoming New administration, that might be the only ethical thing to do. Truly, Jeremy.” This news comes as cases like Ripple’s are gaining momentum, but it’s still unclear how these cases will be affected by the shutdown.

Dear SEC,Now might be a smart time to file for stays on all non-fraud litigation with no imminent investor harm. In fact, with both the looming shutdown AND incoming New administration, that might be the only ethical thing to do. Truly, Jeremy pic.twitter.com/FDcSK2ejag

— Jeremy Hogan (@attorneyjeremy1) December 19, 2024

What Happens Next if The SEC is Shutdown?

If the government shuts down, the SEC will have limited activities because federal agencies can’t operate without funding, except for a few things like protecting property. Companies trying to raise money or handle securities transactions should know that the SEC’s Corporation Finance staff won’t be available to approve registration statements, offering statements, or process those filings.

The SEC won’t process filings that need review, like registration statements or tender offers. Companies won’t get feedback on their filings, and delays will happen once the shutdown ends. The SEC won’t answer questions or handle requests for exemptions or no-action letters. 

Gary Gensler previously announced he would retire from the SEC on January 20. President-elect Donald Trump has nominated Paul Atkins, a Republican and former SEC commissioner, to replace him. Atkins, a well-known conservative Washington insider, will take over from Gensler, who has been an aggressive SEC chair under President Joe Biden.

The SEC will prioritize market integrity and investor protection during a potential shutdown, pausing non-essential operations.

Essential functions like the EDGAR database will remain active, but filing reviews, approvals, and exemptions will face delays.

Gary Gensler’s SEC departure on January 20 coincides with a leadership shift to Paul Atkins amid shutdown uncertainties.

The Securities and Exchange Commission (SEC) is preparing to scale back operations in anticipation of a potential government shutdown. With federal funding in question, the agency plans to prioritize essential functions, focusing on market integrity and investor protection. 

However, non-essential activities will be paused, potentially causing significant disruptions for companies and financial entities relying on its services.

https://twitter.com/attorneyjeremy1/status/1869820640641069560 Core Operations to Continue, But Delays Are Expected

In addition, the SEC’s essential systems, including the EDGAR database, will remain operational during a shutdown. This database ensures companies and investors can still access critical filings. 

However, the agency will suspend its review of registration statements, tender offers, and similar filings. Consequently, businesses seeking to raise capital or manage securities transactions may face delays.

Moreover, companies awaiting feedback or approval from the SEC will experience interruptions, as the agency will not process exemption requests or no-action letters during this period. The shutdown could disrupt corporate finance activities, potentially affecting market participants reliant on timely SEC reviews.

Leadership Transition Adds Another Layer of Uncertainty

Gary Gensler, the SEC Chair under President Joe Biden, previously announced plans to step down on January 20. His departure coincides with President-elect Donald Trump’s nomination of Paul Atkins, a former SEC commissioner, as his replacement.

Atkins, known for his conservative approach, is expected to shape the agency’s direction significantly. As cases like Ripple’s gain momentum, the shutdown raises questions about how high-profile legal proceedings might be affected.

Legal professionals, such as attorney Jeremy Hogan, have suggested that the SEC pause non-fraud litigation cases during this uncertain period. Hogan emphasized the importance of focusing on ethical considerations during a time when the agency’s resources are stretched thin.

Consequently, the government shutdown could impact the SEC’s ability to oversee market activities comprehensively. Federal agencies cannot operate without funding, limiting their scope to essential functions like protecting property and investors.

Therefore, businesses must prepare for potential delays and interruptions, especially those requiring SEC approvals or guidance.

The post XRP Lawsuit Nears Conclusion as SEC Braces for ‘Potential’ Shutdown appeared first on Crypto News Land.

#SEC expands institutional access to Bitcoin and Ethereum by approving two crypto index ETFs holding both assets. 

Read more on: https://thecryptobasic.com/2024/12/20/sec-approves-franklin-templeton-and-hashdex-dual-bitcoin-ethereum-index-etfs/
#Cryptonews

U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce, a prominent advocate for clear and balanced cryptocurrency regulation, has shed light on a possible shift in the agency’s crypto policy. Speaking in a conversation reported by Coinage’s X account, Peirce discussed the evolving regulatory landscape, the transition period following SEC Chair Gary Gensler’s departure, and the prospects for a more pro-innovation SEC.

This potential shift signals hope for the crypto industry, which has faced scrutiny and uncertainty under the current regulatory regime.

Hester Peirce: A Voice of Reason in Crypto Regulation

Known as “Crypto Mom” within the industry, Hester Peirce has consistently advocated for pragmatic and innovation-friendly crypto policies. Her views often contrast with the SEC’s historically cautious approach to digital assets.

Peirce’s latest comments underscore the importance of fostering a regulatory environment that balances investor protection with innovation.

Peirce’s Advocacy for Clarity

Clear Guidelines: Peirce has repeatedly called for clear, transparent regulations to prevent stifling innovation.

Innovation-Friendly Stance: She emphasizes the need for policies that encourage growth in the blockchain and cryptocurrency sectors while addressing risks effectively.

Anticipated Changes in SEC Leadership

The impending departure of SEC Chair Gary Gensler is a pivotal moment for the agency. Under Gensler’s leadership, the SEC adopted a stringent approach toward cryptocurrencies, targeting major players and enforcing rules on various crypto activities.

What to Expect Post-Gensler

Shift Toward Pro-Innovation Policies: Peirce’s comments suggest that the new leadership might adopt a more balanced approach, focusing on fostering innovation while ensuring compliance.

Regulatory Modernization: The SEC could streamline outdated regulations to address the unique aspects of blockchain and digital assets.

Industry Engagement: A more collaborative relationship between regulators and the crypto industry may emerge, paving the way for mutually beneficial policies.

Key Topics Discussed by Peirce

Peirce touched on several critical issues that could shape the SEC’s crypto policy going forward:

1. The Pace of Change

The regulatory landscape for crypto has been evolving rapidly, often leaving market participants uncertain about compliance requirements. Peirce acknowledged the need for the SEC to adapt more quickly to emerging technologies.

2. Transition Challenges

With new leadership on the horizon, Peirce highlighted the importance of ensuring a smooth transition period. This includes aligning the SEC’s goals with the broader push for U.S. leadership in blockchain innovation.

3. Balancing Risks and Opportunities

Peirce emphasized that while protecting investors remains a priority, excessive regulation could drive innovation overseas. Striking the right balance will be crucial for maintaining the U.S.’s competitive edge.

A More Pro-Innovation SEC: What It Means for Crypto

A shift toward pro-innovation policies could have far-reaching implications for the cryptocurrency market:

Boosting Institutional Confidence: Clearer regulations would encourage institutional investors to participate in the crypto market.

Encouraging Startups: A supportive regulatory environment could attract blockchain startups, fostering economic growth.

Global Leadership: The U.S. could solidify its position as a leader in blockchain technology and cryptocurrency innovation.

Challenges Ahead

While optimism surrounds the potential policy shift, challenges remain:

Legislative Coordination: The SEC’s policies must align with broader legislative efforts to create a cohesive framework.

Fraud and Misuse Risks: Regulators must address concerns about fraud and misuse without overburdening legitimate actors.

Global Competition: As other nations adopt crypto-friendly policies, the U.S. must act decisively to remain competitive.

The Crypto Industry’s Response

The crypto community has welcomed Peirce’s comments as a sign of potential relief from the SEC’s stringent stance. Many industry leaders are hopeful that the SEC will engage more collaboratively with blockchain innovators and prioritize clarity in its regulatory agenda.

Conclusion

Commissioner Hester Peirce’s discussion of a potential shift in the SEC’s crypto policy offers a glimmer of hope for the industry. Her emphasis on pro-innovation strategies and the transition to new leadership could herald a new era for cryptocurrency regulation in the U.S.

As the regulatory landscape evolves, the crypto industry and policymakers must work together to foster innovation while addressing risks effectively. The potential for a more balanced, innovation-friendly SEC could pave the way for sustainable growth in the blockchain sector.

To learn more about the innovative startups shaping the future of the crypto industry, explore our article on latest news, where we delve into the most promising ventures and their potential to disrupt traditional industries.

The U.S. Securities and Exchange Commission (SEC) has imposed a $123 million fine on Tai Mo Shan Limited, a subsidiary of Jump Crypto Holdings, for its role in misleading investors about the stability of TerraUSD. 

The firm also faced charges of conducting unregistered securities transactions linked to the sale of LUNA, a token issued by Terraform Labs.

Allegations of fraud and investor deception

According to the SEC, Tai Mo Shan used deceptive practices to stabilize TerraUSD, a so-called algorithmic stablecoin developed by Terraform Labs. When TerraUSD lost its $1 peg in May 2021, Tai Mo Shan purchased over $20 million of the token to restore its value artificially. This gave investors the false impression that the algorithm maintaining TerraUSD’s stability was functioning properly. SEC Chair Gary Gensler emphasized that these actions misled the public and resulted in widespread financial losses in the crypto market.

The SEC also found that Tai Mo Shan acted as a statutory underwriter by participating in the sale of LUNA, which the regulator has classified as a security. These activities were conducted without proper registration, violating federal securities laws.

Settlement details

Tai Mo Shan agreed to pay a total settlement of $123 million without admitting or denying the allegations. This includes $73.45 million in disgorgement, $12.91 million in prejudgment interest, and a $36.72 million civil penalty. The firm has also agreed to cease from further violations of securities laws.

The SEC’s investigation revealed that Jump Crypto profited significantly from its involvement with Terraform Labs, reportedly earning up to $1 billion. This financial relationship contributed to Terraform’s efforts to maintain TerraUSD’s stability, which eventually collapsed, triggering a broader crisis in the cryptocurrency market.

Impact of the TerraUSD collapse

The failure of TerraUSD and its associated ecosystem had far-reaching consequences, wiping out $40 billion in investor assets. Terraform Labs faced separate SEC litigation, ultimately agreeing to pay $4.5 billion to settle claims related to its role in the collapse. Jump Crypto’s intern-turned-president, Kanav Kariya, was also linked to the project through his involvement with the Luna Foundation Guard, which managed TerraUSD’s reserves.

The case against Jump Trading highlights the ongoing challenges in regulating the cryptocurrency industry. It reminds us of the risks posed by unregulated practices and the importance of transparency to protect investors in digital asset markets.

The post SEC Fines Jump Trading $123 Million Over TerraUSD and Luna Misconduct first appeared on Coinfea.

In a recent interview with Coinage, U.S. Securities and Exchange Commission (SEC) Commissioner Hester Peirce expressed optimism about potential regulatory changes under incoming SEC Chair Paul Atkins, President Trump’s nominee. Peirce highlighted the possibility of revisiting key crypto-related initiatives, including Ethereum ETF staking and in-kind redemptions for ETFs, which faced resistance under outgoing Chair Gary Gensler.Transitioning to a Pro-Crypto LeadershipPeirce described the SEC as being in a transitional period and expressed hope that Atkins' pro-crypto stance would create a more favorable regulatory environment. She stated, “If it changes from a majority of Commissioners who don’t want things to go through to a majority who do, then yeah, it’s easier.”She noted that Atkins, set to replace Gensler on January 20, is expected to prioritize crypto regulations from day one. “The acting Chair can start working on things that are a priority, and one of those issues is going to be crypto,” Peirce explained.Revisiting Ethereum ETF Staking and In-Kind RedemptionsPeirce emphasized her hopes for enabling Ethereum ETFs to participate in staking and reconsidering in-kind redemption mechanisms for ETFs. She acknowledged that these initiatives would require support from other commissioners who previously opposed such reforms but noted the new leadership may shift the dynamics in favor of approval.While uncertainty remains, Peirce suggested initial steps toward approval could begin soon, aligning with the broader optimism surrounding Atkins’ leadership. His pro-crypto reputation has sparked anticipation within the industry for a more supportive regulatory framework.A New Era for Crypto RegulationPresident Trump announced Atkins’ nomination on December 4, signaling a potential pivot in U.S. crypto policy. Known for his favorable stance on digital assets, Atkins’ appointment has generated excitement among crypto advocates who view this as an opportunity to foster innovation and adoption in the sector.With Peirce’s optimistic outlook and the arrival of a pro-crypto Chair, the SEC could take significant strides in advancing cryptocurrency regulation, including Ethereum ETFs and staking.

According to Foresight News, Tai Mo Shan Ltd., the cryptocurrency division of Jump Trading, has agreed to pay $123 million to settle allegations by U.S. regulators that it misled investors about the stability of the TerraUSD algorithmic stablecoin. The U.S. Securities and Exchange Commission (SEC) announced on Friday that the company also resolved accusations of violating securities laws while underwriting TerraUSD's sister token, Luna. Tai Mo Shan neither admitted nor denied the SEC's allegations as part of the settlement.

TerraUSD was designed to maintain a constant value of $1 through a complex algorithm involving Luna and trader incentives. However, the SEC stated that Tai Mo Shan's substantial purchasing activities artificially stabilized the coin, misleading the market into believing the algorithmic mechanism was effective.

The U.S. Securities and Exchange Commission (SEC) has approved two innovative exchange-traded funds (ETFs) that could change the landscape of…

For the full story, head over to TheCurrencyAnalytics.com.

Prominent market analysts predict significant XRP price movement, with many tipping the Ripple token to hit the $10 mark. This milestone has been the subject of debate within the crypto community for years.

This projection comes amid Ripple’s partial legal triumphs against the SEC and its expanding partnerships with global financial institutions. With the XRP price poised to capitalize on the growing adoption of blockchain-based payment solutions, the forecast underscores investors’ renewed optimism.

Meanwhile, attention is shifting toward a lesser-known real-world asset (RWA) altcoin, PropiChain (PCHAIN), described as an emerging rival of Ripple. Leading market experts are projecting an astonishing 42,039% price surge for this PCHAIN. This emerging asset bridges the gap between the $600 trillion real estate market and the blockchain.

The timing of the XRP price steady climb and the potential explosion of its rival, PropiChain, underscores the dynamic and unpredictable nature of the crypto market. As investors weigh their options, these forecasts highlight the critical role of thorough research and market timing in maximizing gains during the next wave of crypto growth.

The XRP Price Path to $10 and the Ripple Rival Eyeing 42,039% Gains

The XRP price movement has been a central discussion in the crypto market, thanks to Ripple’s ongoing efforts to revolutionize cross-border payments and its high-profile legal battle with the U.S. Securities and Exchange Commission (SEC).

The recent XRP price movement has witnessed massive upward pressure despite market volatility and regulatory issues. Over the past month, the Ripple token has appreciated by more than 124%. The XRP price chart indicates the formation of a bullish pattern, another major breakout.

From a fundamental perspective, Ripple’s partial legal victory against the SEC has boosted investor confidence. In a landmark ruling earlier this year, a U.S. judge determined that the Ripple token was not a security when sold on exchanges, effectively removing a major cloud of uncertainty and opening the doors for broader adoption.

While the XRP price journey to $10 is impressive, the analyst’s prediction for one of Ripple’s rivals has generated more waves in the crypto market. This Ripple rival, PCHAIN, is poised for up to 42,039% gains. Such exponential growth would outpace even the wildest crypto bull runs and have a transformative impact on the market.

PCHAIN is the utility token of PropiChain, a blockchain-powered real estate platform set to redefine and revolutionize the future of the $600 trillion global real estate market. By using cutting-edge technologies, PropiChain aims to solve the inefficiencies in the world’s number one asset-class market.

One key advantage for this rival is its lower market capitalization and low entry price, which provides more room for exponential growth compared to more established projects like the XRP price. Additionally, early-stage projects often attract speculative investors seeking outsized returns, further fueling price momentum.

With PropiChain set to capture just 1% of the $600 trillion global real estate market, the gains could surpass the projected 42,039%. Additionally, as a RWA token bridging the gap between real estate assets and the blockchain, PCHAIN is poised to take a larger share of the $16 trillion RWA tokenization market.

Broader Implications for the Crypto and Real Estate Market

The bullish outlook for the XRP price and its rival, PCHAIN, underscores the growing interest in real-world applications of blockchain-based solutions. A potential rally to $10 would not only benefit Ripple and its investors but also signal broader acceptance of crypto assets in mainstream finance.

For PropiChain, achieving a historical 42,039% gain will send a strong signal to investors about PCHAIN’s revolutionary power in the real estate market.

The Revolutionary Power of PropiChain to Redefine the Future of Global Real Estate

PropiChain is transforming the global real estate industry, a market valued at over $600 trillion, by integrating cutting-edge technologies. The platform incorporates artificial intelligence (AI), the Metaverse, Real World Asset (RWA) tokenization, and smart contracts to redefine how real estate is accessed and managed.

PCHAIN deploys AI-powered virtual assistants and chatbots to always provide users with personalized support. Its advanced predictive AI tool analyzes market trends, offering data-driven insights that enable investors to anticipate opportunities and strategize to capitalize on them.

Integrating the Metaverse allows real estate investors to conduct virtual tours of properties worldwide. This feature eliminates the need for physical visits, overcomes geographical limitations, and provides a more convenient way to explore properties.

Another one of PropiChain’s standout features is its RWA tokenization technology. By digitizing real estate assets on the blockchain, the platform enables fractional ownership, allowing individuals with smaller budgets to invest in portions of high-value properties.

This democratization of real estate creates new opportunities for a broader audience to participate in the market. In addition, PropiChain utilizes smart contract technology to simplify property management. Tasks such as drafting and renewing lease agreements are automated, reducing the need for intermediaries.

PropiChain is reshaping the real estate landscape by combining these advanced technologies, making it more inclusive, streamlined, and adaptable to the needs of a globalized, tech-driven world.

Conclusion

The $10 target for the XRP price is only a 293.7% increase from its current price of $2.54, while PCHAIN presents a bigger profit potential of 42,039% and a low entry point of $0.011 for its ongoing second presale round. If you invest $1000 now in PCHAIN, your potential gain will be a mouth-watering $420,390.

If you invest the same amount in the XRP price at $2.54, and it hits $10, you will only earn $2,937 in profit. Join the PCHAIN presale now to enjoy massive mouth-watering gains. If you miss this presale now, the price will rise by over 109% for the third and final presale round.

PCHAIN is listed on CoinMarketCap, increasing its visibility and accessibility to potential investors. BlockAudit, a globally renowned blockchain security firm, has audited the project’s smart contract and found zero vulnerabilities.

For more information about PropiChain presale:

Website: PropiChain

Join Community: https://linktr.ee/propicha

The post XRP Price Closer to $10 Than You Think, Says Analyst While Pointing at Ripple Rival Set for 42,039% Gains appeared first on Blockonomi.

The US Securities and Exchange Commission (SEC) is preparing for a possible federal government shutdown, as shown in its recent notice.

The agency put up an “SEC Operational Status” notice on its website, noting it’s preparing for a potential shutdown. 

“In the event of a federal government shutdown due to a lapse in appropriations, the SEC’s operating status will change concurrently with the rest of the federal government, in accordance with the agency’s plan for operating during a shutdown,” the notice reads. “As that plan contemplates, we are currently preparing for a potential shutdown, with a focus on the market integrity and investor protection components of our mission.”

Key operations to continue

The SEC has stated that the EDGAR database system that helps in tracking government filings will not be affected by the shutdown. However, routine reviews like those involving the ETF applications will likely be put on hold for now.

Nonetheless, the SEC will still be able to take action against fraud and market manipulation; thus, there will be no complete absence of enforcement. The House of Representatives’ failure to vote on a bipartisan government funding bill has only increased the chances of a shutdown. 

As Congress fails to come up with a solution, services such as emergency services may be greatly affected, and non-essential federal employees may not be paid during the holiday season. Other essential services that are likely to be affected include food aid programs.

Crypto advocacy group urges SEC reset 

In a related development, the Digital Chamber of Commerce has called on the SEC to change its approach to digital assets. The organization claims that the relationship should be rebuilt as Donald Trump is expected to become the president and may adopt a more positive approach to cryptocurrencies.

They noted that the new administration may promise to adopt a relatively less stringent regulatory stance than the current chair of the SEC, Gary Gensler.

Recently the Token Alliance Leadership Committee of the Chamber met with the SEC commissioners to discuss its 2025 Digital Asset Policy Priorities. 

The proposal outlines how the new administration should address crypto issues in the first 90 days of Trump’s administration. The Chamber also pointed out that SAB121 and other available regulatory guidance were inadequate and adverse.

Gensler, who announced his resignation recently, was accused of adopting enforcement-focused approaches. According to reports, Paul Atkins will succeed Gary Gensler as the SEC Chair in early 2025.

Land a High-Paying Web3 Job in 90 Days: The Ultimate Roadmap

The U.S. Securities and Exchange Commission (SEC) is currentlypreparing for a potential federal government shutdown, according to its recent alert.

The agency has announced that it will prioritize crucial functions such as market integrity and investor protection.

The agency has clarified that its internal EDGAR database system, which is used for tracking government filings, will remain operational.

However, the agency will be forced to pause some non-essential operations during a potential government shutdown.

On Wednesday, the House of Representatives delayed a vote on a bipartisan government funding bill, prompting concerns about a potential shutdown.

With Congress plunging into chaos, it looks like another government shutdown is likely. It would leave government workers unpaid during the holidays while also disrupting various services such as food assistance.

Only essential services, such as emergency operations, will continue in case of government shutdown. However, they might also face significant challenges.

The SEC will likely cease performing routine reviews of various filings, including ETF applications. However, it will still be able to prosecute cases involving fraud and market manipulation.

In other news, anti-crypto SEC Commissioner Caroline Crenshaw is highly likelypreparing to leave the agency after senators failed to vote on her renomination earlier this week.

The agency will be left with three Republican commissioners. As reported by U.Today, crypto-friendy libertarian Paul Atkins is on track to replace Gary Gensler in early 2025.

Two Democratic commissioners will have to be appointed to make sure that the agency remains bipartisan, but Crenshaw is extremely unlikely to be one of them.

The lawsuit may have slowed Ripple’s growth to allow for thorough regulatory vetting.

The legal battle forced Ripple executives to disclose critical information to the public.

Ripple’s lawsuit helped create strategic partnerships while accumulating XRP from retail.

The legal dispute between Ripple and the U.S. Securities and Exchange Commission (SEC) has sparked widespread discussion, with many viewing it as a crucial event for the crypto sector. Some believe the lawsuit aimed to block Ripple’s efforts to challenge established financial systems or compete with Ethereum, while others see it as a calculated move by Ripple to achieve broader objectives.

A Different Perspective

Vincent Van Code, a blockchain analyst, suggests that Ripple’s legal battle with the SEC may have been part of a carefully planned global strategy. According to him, the lawsuit might have been initiated to accomplish specific objectives, such as slowing Ripple’s rapid expansion and allowing for a detailed examination of its operations. He argues that this approach helped Ripple strengthen its credibility and position within a regulated environment.

Slowing Down Ripple’s Grow…

The post Why Ripple’s SEC Lawsuit Might Be a Strategic Masterstroke appeared first on Coin Edition.

CyberKongz, a gaming-based NFT project, announced on December 16 that it has received a Wells Notice from the U.S. Securities and Exchange Commission (SEC).

The notice raises concerns about the platform’s integration of its ERC-20 token with blockchain games and questions aspects of its activities, including its 2021 contract migration.

The SEC’s Argument

In a post on X, the CyberKongz team expressed their dismay with the agency’s handling of the situation, saying:

“We are extremely disappointed at the approach the SEC has taken towards us, but we are going to stand up and fight for a brighter future that holds more clarity for NFT projects.”

They disclosed that the issue began two years ago when the regulator first contacted them, during which time they operated quietly and under a lot of pressure.

The post highlighted that the SEC’s main concern appears to center on whether ERC-20 tokens can function alongside blockchain games without being classified as securities.

CyberKongz argued that this implication could have wide-ranging consequences for the Web3 gaming industry. They also said they are determined to contest the financial watchdog’s position and advocate for a clearer regulatory framework.

Another point of contention involves the Genesis Kongz contract migration in April 2021, which the regulator reportedly interpreted as a token sale. The NFT project clarified that the migration was not a primary sale and criticized the SEC’s inability to differentiate between the two, stating:

“If they cannot distinguish between a primary sale and a contract migration, what hope do we currently have for a clear regulatory pathway going forward?”

The Wells Notice gives the platform 30 days to respond before the SEC decides whether to pursue enforcement action. While not a formal allegation of wrongdoing, such a notice shows that the agency is considering further legal steps.

Broader Industry Issue

This latest development adds CyberKongz to a growing list of blockchain and NFT entities under SEC scrutiny, including Coinbase, Consensys, Ripple, OpenSea, Uniswap Labs, and Bittrex, which have faced similar notices in recent years.

Last month, Australian-based gaming company Immutable also reported receiving such a warning. At the time, they expressed frustrations over vague allegations and unclear regulatory guidelines. However, no further action has been taken since then.

Meanwhile, CyberKongz has reassured its community that it remains committed to advancing its work without the burden of silence. It stated that the situation marks a turning point as it continues to advocate for clearer guidelines within the NFT and blockchain industries.

The post NFT Gaming Project CyberKongz Receives Wells Notice from SEC appeared first on CryptoPotato.