NFTs In Legal Crossroads: SEC Lawsuit Questions Securities Status
In a significant move underscoring the evolving regulatory landscape surrounding cryptocurrencies, the US Securities and Exchange Commission (SEC) has turned its attention to the Non-Fungible Tokens (NFTs) market, initiating legal action against media and entertainment company Impact Theory. The SEC alleges that Impact Theory conducted an unregistered offering of crypto asset securities as Non-Fungible Tokens, […]
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The Securities and Exchange Commission (SEC) has admitted that before instigating legal proceedings against Ripple, it never informed inquiring third parties that it considers XRP a security. “…the Commission admits that before the filing of this case certain third parties inquired about the legal status of XRP. However, the Commission did not state a view […]
A US Judge has rejected DraftKings’ motion to dismiss the class action lawsuit filed by the company’s Non-Fungible Token (NFT) buyers. The lawsuit accuses DraftKings, its CEO, CFO, and president of allegedly violating federal securities laws with its NFTs. Related Reading: New Crypto Regulation: Firms In Hawaii Now Exempt From MT License Requirement DraftKings Accused […]
Binance US is preparing for a legal battle against the Securities and Exchange Commission (SEC) after the District Court for the District of Columbia determined the SEC’s lawsuit would continue. The exchange remains confident in its case after Judge Amy Berman Jackson dismissed several “key claims” in the lawsuit. Related Reading: Germany Shakes Up Crypto […]
The SEC’s case against Ripple for selling XRP as an unlicensed security will begin with a pretrial in February 2021. The United States District Court of the Southern District of New York has fixed Feb. 22, 2021 as the date for the pretrial of the lawsuit filed by the Securities and Exchange Commission against Ripple Labs and its principal actors.According to a court document filed on Tuesday, counsel representing all parties on the matter will hold a telephone pretrial conference. As part of preparations for the preliminary hearing, the parties in the case will submit a joint letter a week....
Ripple’s chief executive has shared his views on possible outcomes of the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) over the sale of xrp, which the regulator claims to be an unregistered securities offering. Ripple’s CEO Discusses Implications of SEC Winning the Lawsuit Ripple CEO Brad Garlinghouse discussed the lawsuit brought by the U.S. Securities and Exchange Commission (SEC) over XRP earlier this month in an interview with Axios at the Collision 2022 event. The SEC sued Ripple Labs, Garlinghouse, and co-founder Chris Larsen in December 2020,....