Fun

News Feed - 2023-07-17 10:07:56

Brayden Lindrea7 hours agoRipple case: SEC appeal unlikely as agency gains from ‘current confusion’ — Haun Ventures CEOAn immediate appeal could potentially jeopardize the SEC’s “entire enforcement agenda” if it ends up losing, said Katie Haun of Haun Ventures.6203 Total views18 Total sharesListen to article 0:00NewsJoin us on social networksA former federal prosecutor turned chief executive of a crypto-focused venture capital fund says she would be “surprised” if the United States securities regulator lodges an immediate appeal against the Ripple case ruling, as it currently benefits from lack of “legal clarity.”


On July 13, Judge Analisa Torres granted a partial summary judgmentin favor of Ripple Labs regarding XRP’s status as a security. At the time, a few commentators warned that an appeal from the SEC would be a possibility.


However, in a July 15 Twitter thread, Haun Ventures CEO Katie Haun explained that the securities regulator will likely stay quiet as it benefits from the “current confusion” and that losing an appeal could jeopardize its future enforcement actions.Some non-legal advice musings on the Ripple decision, including two main takeaways:

1/ The Court drew a reasonable line and overall it's a good outcome for the industry. For other suits w/ the SEC, we believe the Supreme Court’s “major questions doctrine” will play a larger…— Kathryn Haun (@katie_haun) July 15, 2023


“Anything is possible, but an immediate appeal seems unlikely both because the agency would have to ask the court to split this decision from the portion going to trial and because I’m skeptical the SEC actually wants legal clarity,” said Haun.“The Commission benefits from the current confusion and losing these issues on appeal would jeopardize its entire enforcement agenda. So I’d be surprised if the SEC tried to appeal now.”


Haun is but the latest commentator to share the view.


On July 15, Ripple Labs CEO Brad Garlinghouse also believes it may “take years” before the SEC lodges an appeal. He added that an appeal by the SEC would only reinforce Judge Torres’ decision that XRP is not a security.


In a video posted on YouTube on the same day, U.S. lawyer and Ripple commentator Jeremy Hogan said he believes the SEC will launch an appeal after the trial between SEC and Ripple ends, which is scheduled for early 2024.


The SEC is currently suing crypto exchanges Binance and Coinbase over alleged violations of securities laws. Some believe the recent Ripple case ruling, while not a binding precedent, could have an impact on the outcome of the cases. 


Related:Ripple decision is "troublesome on multiple fronts", says former SEC official


Meanwhile, many crypto commentators and lawmakers have called for Congress to take action and give legal clarity to crypto in light of the recent ruling.


Brian Quintenz, a former commissioner of the Commodity Futures Trading Commission who is now head of policy for crypto venture capital fund a16z, stated that the recent Ripple court ruling “only results in more uncertainty for entrepreneurs and builders.”


U.S. Senator Cynthia Lummis said the ruling underscores the urgent need for Congress to establish a clear and comprehensive regulatory framework for the cryptocurrency industry.


Collect this article as an NFTto preserve this moment in history and show your support for independent journalism in the crypto space.


Magazine:Crypto regulation: Does SEC Chair Gary Gensler have the final say?# Altcoin# Law# Business# Congress# Security# Ripple# SEC# XRP# US Government# Court# RegulationAdd reactionAdd reactionRelated NewsWho invented NFTs?: A brief history of nonfungible tokensHow to use index funds and ETFs for passive crypto incomeIt’s time for the SEC to settle with Coinbase and RippleCoinbase blasts SEC for ‘no straight answers’ following court orderRipple gets in-principle nod for digital asset services in SingaporeBad news for Ripple? LBRY judge passes ruling on if secondary crypto sales are securities

News Feed

US Lawmaker Says ‘Too Much Money and Power’ Behind Crypto to Ban It
US Lawmaker Says "Too Much Money and Power" Behind Crypto to Ban It U.S. Representative Brad Sherman says Congress has not banned crypto because “there’s too much mon
Dogecoin, Shiba Inu, Dogelon Mars Lead the Pack of 45 Doge-Like Tokens Capturing Astronomical Gains
Dogecoin, Shiba Inu, Dogelon Mars Lead the Pack of 45 Doge-Like Tokens Capturing Astronomical Gains 2021 has been the year of decentralized finance (defi), non-fungible tokens (NFT
South Korean Officials Notice a Sudden Rise in Crypto Mining Rigs Imports- Over 41 Shipments Intercepted in 3 Months
South Korean Officials Notice a Sudden Rise in Crypto Mining Rigs Imports- Over 41 Shipments Intercepted in 3 Months Crypto adoption is a hot topic in South Kore
Best Presales to Invest in as Trump Ally Bill Ackman Calls for 90-Day Pause on US Tariffs
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Dogecoin Breaks Above Falling Wedge Pattern – Analyst Sets $0.43 Target
Este artículo también está disponible en español. Dogecoin is trading below key levels after dropping over 10% following last night’s bullish price action. The meme coi
Solana (SOL) Path To New Highs: Analyst Eyes $160 As Critical Breakpoint
Este artículo también está disponible en español. Solana is testing a crucial level after weeks of volatile price action and market uncertainty. Following the Federal Res
Quantum-Resistant Token, Crown Sovereign (CSOV) Will Be Listed on Bitcoin.com Exchange
Quantum-Resistant Token, Crown Sovereign (CSOV) Will Be Listed on Bitcoin.com Exchange press release PRESS RELEASE. Crown Sterling’s Crown Sovereign token (
Tron (TRX) Leads The Crypto Market With 100% Rally To New ATH, $0.5 Next?
Este artículo también está disponible en español. Tron (TRX) joined the crypto market’s rally by jumping over 100% in 24 hours to a new all-time high (ATH). Its surge i
Fidelity files S-1 application with US SEC for spot ETH EFT with staking
Derek Andersen6 hours agoFidelity files S-1 application with US SEC for spot ETH EFT with stakingStaking rewards could create a taxable event for shareholders and introduce new risks associated with the fund.2709 Total v
XRP Could Hit $9 In Euphoric Fifth Wave, Elliott Wave Analyst Predicts
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
Bitcoin And Ethereum Coinbase Premium Remains Positive For 7 Weeks — Here’s Why
Reason to trust Strict editorial policy that focuses on accuracy, relevance, and impartiality Created by industry experts and meticulously reviewed The highest standards in reporting and pu
As the Fed Turns 109 Years Old, the US Dollar’s Purchasing Power Eroded by More Than 96% Since It Was Created
As the Fed Turns 109 Years Old, the US Dollar"s Purchasing Power Eroded by More Than 96% Since It Was Created 109 years ago, the U.S. Federal Reserve was created and ever since tha