XRP holders ask court to stop the SEC from calling their holdings securities
XRP investors don't want to have their holdings lumped in with Ripple's. Several investors in XRP have filed with a Rhode Island court, looking to change the course of the Securities and Exchange Commission's case against Ripple. In response to what it calls "the most significant SEC enforcement action in modern history," the Friday filing is a petition for a "writ of mandamous." A "mandamus" is effectively just an order that a public official — in this case, the chairman of the SEC — does their job. The filers are calling upon new Acting Chairman Elad Roisman to alter the course that his....
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In the SEC v. Ripple lawsuit, the court has rejected the SEC’s attempt to block XRP holders’ Motion to Intervene and has set submission deadlines for the motion to be filed as well as for responses from the SEC and Ripple. Judge Dismissed SEC’s Attempt to Stop XRP Holders From Intervening in Ripple Lawsuit In the U.S. Securities and Exchange Commission (SEC) v. Ripple Labs case, the district court of the Southern District of New York “has reviewed the parties’ and proposed intervenors’ letters dated March 19 and 26, 2021,” according to the court....
The U.S. Securities and Exchange Commission (SEC) attempts to stop XRP holders from joining the on-going lawsuit as third parties. In a letter to Judge Analisa Torres, the SEC’s Senior Trial Attorney Jorge Tenreiro argued that XRP holders had not clarified their actions. What’s more, Tenreiro states consolidation/coordination of claims is statute-barred without the SEC’s […]
A committee of unsecured creditors stemming from the Celsius bankruptcy case has filed a motion with the court to stop the now-defunct crypto lender from selling the company’s stablecoin holdings. The written protest by the group of creditors against the sale follows objections from a slew of securities regulators filed on Sept. 29. Creditors Object to Celsius Selling $23 Million in Stablecoins On Sept. 15, the embattled cryptocurrency lending firm Celsius filed a motion with the bankruptcy court to get permission to sell $23 million in stablecoins. The court filing attempting to gain....
Coinbase was recently in news for introducing Stop Loss feature on its exchange platform. Read further to know more about Stop Loss. Coinbase recently announced the integration of ‘Stop Order’ function which allows its users to trade bitcoin in a convenient fashion without having to deal with drastic price fluctuations. What Is a Stop Order and Why Is It Important? To begin with, a stop order is a feature that allows users to buy or sell any asset on a trading platform when the target asset’s value reaches a particular price point of choice. Stop orders are also known as stop-loss orders.....