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Web3 Sector Wins Court Ruling Against SEC
#Binance #RIpple #SEC $BNB $XRP
The Web3 community is celebrating a major court victory against the U.S. Securities and Exchange Commission (SEC). This ruling impacts the SEC's efforts to classify cryptocurrencies as securities.
Key Court Ruling
On June 28, Judge Amy Berman Jackson of the District Court for the District of Columbia dismissed SEC charges against Binance. The SEC had alleged that secondary sales of Binance’s BNB token and BUSD stablecoin were unregistered digital asset securities. Charges related to Binance’s Simple Earn product were also dismissed.
Judge's Perspective
Judge Jackson clarified that the SEC's view that the token itself is an investment contract muddied the issues. She emphasized that this case does not determine whether crypto assets are securities.
Reference to Ripple’s XRP Case
The judge cited an October 2023 ruling on Ripple’s XRP. This ruling stated that digital tokens alone do not constitute securities investment contracts, even if distributed through such contracts. Jackson noted that the SEC’s stance was inconsistent with Supreme Court rules.
Ongoing Charges Against Binance
Despite this victory, the court allowed many of the SEC’s charges against Binance to proceed. These include allegations that Binance’s initial coin offering for Binance Coin (BNB), ongoing BNB sales, staking services, and BNB Vault products were unlicensed securities offerings.
Binance also faces charges for allegedly failing to restrict U.S. investors, failing to register as an exchange, broker, or clearing agency, and misleading customers about market surveillance controls.
Market Reaction
The price of BNB is up 1% over the past 24 hours, reflecting positive market sentiment following the ruling.
Web3 Sector Wins Court Ruling Against SEC
#Binance #RIpple #SEC $BNB $XRP
The Web3 community is celebrating a major court victory against the U.S. Securities and Exchange Commission (SEC). This ruling impacts the SEC's efforts to classify cryptocurrencies as securities.
Key Court Ruling
On June 28, Judge Amy Berman Jackson of the District Court for the District of Columbia dismissed SEC charges against Binance. The SEC had alleged that secondary sales of Binance’s BNB token and BUSD stablecoin were unregistered digital asset securities. Charges related to Binance’s Simple Earn product were also dismissed.
Judge's Perspective
Judge Jackson clarified that the SEC's view that the token itself is an investment contract muddied the issues. She emphasized that this case does not determine whether crypto assets are securities.
Reference to Ripple’s XRP Case
The judge cited an October 2023 ruling on Ripple’s XRP. This ruling stated that digital tokens alone do not constitute securities investment contracts, even if distributed through such contracts. Jackson noted that the SEC’s stance was inconsistent with Supreme Court rules.
Ongoing Charges Against Binance
Despite this victory, the court allowed many of the SEC’s charges against Binance to proceed. These include allegations that Binance’s initial coin offering for Binance Coin (BNB), ongoing BNB sales, staking services, and BNB Vault products were unlicensed securities offerings.
Binance also faces charges for allegedly failing to restrict U.S. investors, failing to register as an exchange, broker, or clearing agency, and misleading customers about market surveillance controls.
Market Reaction
The price of BNB is up 1% over the past 24 hours, reflecting positive market sentiment following the ruling.
🚨 Important News Alert 🚨
🛑 Court Decision 🛑
Breaking News: Ripple Triumphs in Landmark Legal Battle Against SEC
In a decisive turn of events, Ripple has emerged victorious in its protracted legal struggle with the U.S. Securities and Exchange Commission (SEC). The court's ruling marks a significant milestone in the cryptocurrency landscape, setting a precedent that could influence future regulatory decisions.
The court found that Ripple's $XRP tokens, when sold on exchanges and through algorithms, do not constitute investment contracts and thus fall outside the purview of federal securities laws. This partial victory for Ripple underscores the ongoing debate surrounding the classification of digital assets and the need for clear regulatory frameworks.
However, the court also determined that the institutional sale of $XRP tokens did violate federal securities laws, highlighting the nuanced nature of this landmark case. Ripple's Chief Legal Officer has expressed satisfaction with the court's dismissal of all class action claims, emphasizing the company's readiness to address the remaining individual state law claim at trial.
As the crypto community reacts with a mixture of relief and optimism, the implications of this ruling are expected to ripple across the industry, potentially shaping the future of crypto regulation and enforcement.
Stay tuned for further updates as we continue to monitor the aftermath of this groundbreaking legal decision.
#Ripple #SEC #Cryptocurrency
#Regulation #LegalVictory
🛑 Court Decision 🛑
Breaking News: Ripple Triumphs in Landmark Legal Battle Against SEC
In a decisive turn of events, Ripple has emerged victorious in its protracted legal struggle with the U.S. Securities and Exchange Commission (SEC). The court's ruling marks a significant milestone in the cryptocurrency landscape, setting a precedent that could influence future regulatory decisions.
The court found that Ripple's $XRP tokens, when sold on exchanges and through algorithms, do not constitute investment contracts and thus fall outside the purview of federal securities laws. This partial victory for Ripple underscores the ongoing debate surrounding the classification of digital assets and the need for clear regulatory frameworks.
However, the court also determined that the institutional sale of $XRP tokens did violate federal securities laws, highlighting the nuanced nature of this landmark case. Ripple's Chief Legal Officer has expressed satisfaction with the court's dismissal of all class action claims, emphasizing the company's readiness to address the remaining individual state law claim at trial.
As the crypto community reacts with a mixture of relief and optimism, the implications of this ruling are expected to ripple across the industry, potentially shaping the future of crypto regulation and enforcement.
Stay tuned for further updates as we continue to monitor the aftermath of this groundbreaking legal decision.
#Ripple #SEC #Cryptocurrency
#Regulation #LegalVictory
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Major altcoins are unlocking $755 million in July!
$ARB $APT $ALT
In July, more than 40 projects will unlock $755 million worth of cryptocurrency tokens.
The largest amount of crypto assets to be unlocked in July 2024 is AltLayer (ALT), Xai (XAI), Aptos (APT), Arbitrum (ARB), Optimism (OP), Sui (SUI), Immutable (IMX) and Starknet ( STRK) will be.
Decentralized protocol AltLayer will unlock its largest token in July. The project will release 684 million ALT on July 25, worth approximately $125 million. Tokens will be allocated to the team, investors, advisors, protocol development, treasury ecosystem and the community.
Gaming-focused project Xai is set to release the second-largest amount, with approximately $93 million in tokens scheduled to unlock on July 9. Like AltLayer, crypto assets are for its team, investors, and ecosystem. Approximately 2 million dollars of tokens were allocated to its reserves.
The ALT price is currently around $0.17 while XAI is worth $0.435.
Aptos, which unlocked $101 million worth of tokens in May and $102 million in June, will unlock some more tokens in July. The project will release 11.31 million APT tokens worth $77 million in July. These will be allocated to the foundation, the community, core participants and investors.
Meanwhile, Arbitrum, which unlocked $95 million in May and $105 million in June, is scheduled to unlock $75 million for its advisors and investors on July 16. The project launched 1.1 billion ARB tokens worth $2.32 billion on March 16.
Since the big unlock, ARB prices have fallen by 63 percent, from $2.27 on March 8 to $0.79 at the time of writing.
Apart from these also
Optimism, Sui, Immutable, and Starknet will also unlock similar amounts in July.
#Binance #Bitcoin #SEC
$ARB $APT $ALT
In July, more than 40 projects will unlock $755 million worth of cryptocurrency tokens.
The largest amount of crypto assets to be unlocked in July 2024 is AltLayer (ALT), Xai (XAI), Aptos (APT), Arbitrum (ARB), Optimism (OP), Sui (SUI), Immutable (IMX) and Starknet ( STRK) will be.
Decentralized protocol AltLayer will unlock its largest token in July. The project will release 684 million ALT on July 25, worth approximately $125 million. Tokens will be allocated to the team, investors, advisors, protocol development, treasury ecosystem and the community.
Gaming-focused project Xai is set to release the second-largest amount, with approximately $93 million in tokens scheduled to unlock on July 9. Like AltLayer, crypto assets are for its team, investors, and ecosystem. Approximately 2 million dollars of tokens were allocated to its reserves.
The ALT price is currently around $0.17 while XAI is worth $0.435.
Aptos, which unlocked $101 million worth of tokens in May and $102 million in June, will unlock some more tokens in July. The project will release 11.31 million APT tokens worth $77 million in July. These will be allocated to the foundation, the community, core participants and investors.
Meanwhile, Arbitrum, which unlocked $95 million in May and $105 million in June, is scheduled to unlock $75 million for its advisors and investors on July 16. The project launched 1.1 billion ARB tokens worth $2.32 billion on March 16.
Since the big unlock, ARB prices have fallen by 63 percent, from $2.27 on March 8 to $0.79 at the time of writing.
Apart from these also
Optimism, Sui, Immutable, and Starknet will also unlock similar amounts in July.
#Binance #Bitcoin #SEC
😱 SEC Doesn't Allow Launch Ethereum ETF July 4th
The SEC returned Forms S-1 to potential issuers of Ethereum-based ETFs with minor comments, asking them to correct the problems and resubmit applications.
🗣 The forms were returned with little comment, the source said . Issuers were asked to respond to the comments and resubmit them by July 8.
🏠 While there have been reports that ETFs could launch as early as July 4, that has now been ruled out. We don't yet know when the ETFs will launch and will only get a clearer picture once the SEC sets a deadline for final filings. However, the chances of launching in July still remain.
🔺 Also Read: LISTA DAO makes the world of defi easier and wants to give a lot of percentage to their holders
$ETH #ETH #ETF #SEC
The SEC returned Forms S-1 to potential issuers of Ethereum-based ETFs with minor comments, asking them to correct the problems and resubmit applications.
🗣 The forms were returned with little comment, the source said . Issuers were asked to respond to the comments and resubmit them by July 8.
🏠 While there have been reports that ETFs could launch as early as July 4, that has now been ruled out. We don't yet know when the ETFs will launch and will only get a clearer picture once the SEC sets a deadline for final filings. However, the chances of launching in July still remain.
🔺 Also Read: LISTA DAO makes the world of defi easier and wants to give a lot of percentage to their holders
$ETH #ETH #ETF #SEC
SEC Sues Consensys over MetaMask staking service
The #SEC has filed a lawsuit against #Consensys , accusing the #Ethereum software firm of acting as an unregistered broker for crypto asset securities through its #MetaMask Staking service. Consensys allegedly collected over $250 million in fees since January 2023 from unregistered staking programs. The legal action follows recent regulatory developments and a Supreme Court decision affecting federal agency powers. Consensys has contested the SEC's jurisdiction, arguing against its authority to regulate interfaces like MetaMask.
The #SEC has filed a lawsuit against #Consensys , accusing the #Ethereum software firm of acting as an unregistered broker for crypto asset securities through its #MetaMask Staking service. Consensys allegedly collected over $250 million in fees since January 2023 from unregistered staking programs. The legal action follows recent regulatory developments and a Supreme Court decision affecting federal agency powers. Consensys has contested the SEC's jurisdiction, arguing against its authority to regulate interfaces like MetaMask.
See original
$LDO has dropped sharply to $1.88 (-21%) in the past 24 hours, and is currently trading at $1.99.
📌 Data from AI Chat from iCrypto.ai shows the analysis:
Onchain: A very large 24-hour outflow from Whales 🐳, equivalent to the outflow over the past 7 days.
Technical: Candlestick Charts across 1H, 4H, 1D and 3D timeframes are all displaying a Bearish Sentiment.
A more in-depth analysis will be updated soon
----------
12 hours ago, the #SEC posted allegations against #Metamask regarding the Stake feature of Lido (LDO) and Rocket Pool (RPL).
The SEC claims that #Consensys (the parent company of MetaMask) has sold Staked (st) tokens through unregistered transactions on the MetaMask Stake platform.
Otherwise, Consensys has also emphasized that the SEC currently does not have sufficient regulatory authority over interface software like MetaMask. Consensys will pursue the lawsuit to the end because it could impact the future of their #Web3 plans.
#LidoDAO
📌 Data from AI Chat from iCrypto.ai shows the analysis:
Onchain: A very large 24-hour outflow from Whales 🐳, equivalent to the outflow over the past 7 days.
Technical: Candlestick Charts across 1H, 4H, 1D and 3D timeframes are all displaying a Bearish Sentiment.
A more in-depth analysis will be updated soon
----------
12 hours ago, the #SEC posted allegations against #Metamask regarding the Stake feature of Lido (LDO) and Rocket Pool (RPL).
The SEC claims that #Consensys (the parent company of MetaMask) has sold Staked (st) tokens through unregistered transactions on the MetaMask Stake platform.
Otherwise, Consensys has also emphasized that the SEC currently does not have sufficient regulatory authority over interface software like MetaMask. Consensys will pursue the lawsuit to the end because it could impact the future of their #Web3 plans.
#LidoDAO
LIVEiCrypto - Sentiment and Onchain Analysis
--
When we talk about combining #Onchain and #Technical Analysis in one message, iCrypto is your priority !! $PEPE $ONDO $STRK $LISTA
Gary Gensler is ready to throw a towel!
Picture from @Book of Meme Official Gary Gensler has been keeping whole crypto scene and industry on its knees since his appointment as a chairman of SEC in 2021.
Genslers rulemaking agenda, as the SEC adjusts to legal setbacks and braces for US Supreme Court decisions that could fundamentally alter how the agency is run.
Gensler has pursued ambitious reforms across financial markets ranging from US Treasury bonds to climate disclosures. Some pillars of his agenda have been stymied by legal challenges as judges accused the SEC of regulatory over reaching
And what Gensler sayed excactly? 🫠🤗🙄🥹👌🚀💸🥰
“If the courts adjust, we adjust,” Gensler told Financial Times.
“courts had a different view . . . I dust myself off and move forward”
“I’m also a guy that grew up in markets . . . You still try to move forward in a down market,” he said, citing the 18 years he spent at Goldman Sachs before joining the public sector.
#GaryGensler #SEC #US_Inflation_Easing_Alert #bome @Book of Meme Official $BOME
Genslers rulemaking agenda, as the SEC adjusts to legal setbacks and braces for US Supreme Court decisions that could fundamentally alter how the agency is run.
Gensler has pursued ambitious reforms across financial markets ranging from US Treasury bonds to climate disclosures. Some pillars of his agenda have been stymied by legal challenges as judges accused the SEC of regulatory over reaching
And what Gensler sayed excactly? 🫠🤗🙄🥹👌🚀💸🥰
“If the courts adjust, we adjust,” Gensler told Financial Times.
“courts had a different view . . . I dust myself off and move forward”
“I’m also a guy that grew up in markets . . . You still try to move forward in a down market,” he said, citing the 18 years he spent at Goldman Sachs before joining the public sector.
#GaryGensler #SEC #US_Inflation_Easing_Alert #bome @Book of Meme Official $BOME
The SEC has filed a lawsuit against Consensys, the parent company of the popular cryptocurrency wallet MetaMask. The SEC alleges that Consensys has been operating as an unregistered broker and engaging in the unregistered offer and sale of securities through MetaMask Swaps, collecting fees.
The SEC claims that Consensys facilitated crypto asset swapping and offered staking services through MetaMask, acting as an unregistered broker in these transactions and denying investors essential protections. The regulator also alleges that Consensys acted as an underwriter by facilitating investments in Lido and Rocket Pool's staking programs, which the SEC considers unregistered securities.
This lawsuit is the latest in the SEC's ongoing crackdown on the crypto industry, following previous actions against Kraken and Coinbase over their staking services. While the SEC did not classify Ethereum as a security in this complaint, the outcome of this case could have significant implications for the broader crypto ecosystem.
#SEC #Crypto #MetaMask #Consensys #Regulation
The SEC claims that Consensys facilitated crypto asset swapping and offered staking services through MetaMask, acting as an unregistered broker in these transactions and denying investors essential protections. The regulator also alleges that Consensys acted as an underwriter by facilitating investments in Lido and Rocket Pool's staking programs, which the SEC considers unregistered securities.
This lawsuit is the latest in the SEC's ongoing crackdown on the crypto industry, following previous actions against Kraken and Coinbase over their staking services. While the SEC did not classify Ethereum as a security in this complaint, the outcome of this case could have significant implications for the broader crypto ecosystem.
#SEC #Crypto #MetaMask #Consensys #Regulation
See original
Gary Gensler and #SEC just made a big play when suing Consensys, specifically the#Metamasksubsidiary that provides staking brokerage services via the#LDOand Rocket Pool platforms
That means the SEC is accusing:
- Metamask is a stock broker
- $LDO $RPL is a stock
- ConsenSys:
- Facilitated over 36 million crypto transactions.
- Collected more than $250M in fees.
- At least 5 million transactions involving crypto asset securities
Under Biden, the SEC has repeatedly hit the council with projects:
- Uniswap
- Kraken
- Coinbase
- Metamask
- Robinhood
- Lido
- Rocketpool
- $MATIC, $MANA, $CHZ, $SAND - identified as securities
I watched the fight yesterday morning between Bai Dan and Mr. Trump and was bored. Bai Dan was sitting there, but in fact it was his administrative apparatus that was running. They have a way of expanding and controlling everything. Especially the SEC guy who always pokes other guys' asses to make money.
Perhaps the SEC is trying to get Biden out of the presidency so that by acting so recklessly, the Democratic Party will seriously lose points with important voters.
Let's go there every morning Ae, I'm going to run Grap to earn DCA money next! #ldo #rpl #SEC
That means the SEC is accusing:
- Metamask is a stock broker
- $LDO $RPL is a stock
- ConsenSys:
- Facilitated over 36 million crypto transactions.
- Collected more than $250M in fees.
- At least 5 million transactions involving crypto asset securities
Under Biden, the SEC has repeatedly hit the council with projects:
- Uniswap
- Kraken
- Coinbase
- Metamask
- Robinhood
- Lido
- Rocketpool
- $MATIC, $MANA, $CHZ, $SAND - identified as securities
I watched the fight yesterday morning between Bai Dan and Mr. Trump and was bored. Bai Dan was sitting there, but in fact it was his administrative apparatus that was running. They have a way of expanding and controlling everything. Especially the SEC guy who always pokes other guys' asses to make money.
Perhaps the SEC is trying to get Biden out of the presidency so that by acting so recklessly, the Democratic Party will seriously lose points with important voters.
Let's go there every morning Ae, I'm going to run Grap to earn DCA money next! #ldo #rpl #SEC
See original
Friends, your main money is your mother, I have seen this movie before, those who follow it know that I switched to cash 3 months ago, wait, do not buy, if there is a rising trend that will reach 50, I say buy it, follow it, do not give up what you have, they will give it to the greedy ones#Binance #btc #Bitcoin #SEC #web3
