Fun

News Feed - 2023-07-23 03:07:48

Amaka Nwaokocha2 hours agoSEC’s appeal won’t be a setback for XRP holders — Pro XRP lawyerJohn Deaton elaborated on the possible scenarios and intricacies of enforcing the summary judgment.2012 Total views17 Total sharesListen to article 0:00NewsJoin us on social networksAmid speculations that a potential appeal by the United States Securities and Exchange Commission (SEC) could negatively impact the crypto market, Pro-XRP lawyer John Deaton has made it clear that even in the event of an appeal by the agency, it would not significantly affect XRP (XRP) holders.


After the judge’s ruling that the programmatic sale of XRP tokens through exchanges does not classify them as securities, a new question emerges regarding the potential legal implications if the SEC decides to appeal against the ruling. Deaton, who represents more than 75,000 XRP tokenholders, elaborated on the possible scenarios and intricacies of enforcing the summary judgment.


On July 21, the SEC stated in its filing regarding the case against Terraform Labs CEO Do Kwon that it plans to request a review of the decision made in the Ripple lawsuit. This decision came after Kwon expressed his intention to utilize the XRP lawsuit verdict as a precedent to argue that digital assets should not be classified as securities.An appeal is not even close to be a setback. First, it will be two years from now before a decision is issued by the 2nd Circuit, if it’s appealed. The Torres Decision is the law until then - at least in the 2nd Circuit. Second, even if the 2nd Circuit said Torres was wrong… https://t.co/GzW31D9edQ— John E Deaton (@JohnEDeaton1) July 22, 2023


Deaton’s explanation suggests that the appeal decision could extend over two years, during which the summary judgment will remain the governing law. It remains uncertain when the SEC will initiate the appeal process in response to the ruling.“An appeal is not even close to be a setback. Don’t let anyone underestimate how significant this win is for XRP and XRPHolders and Ripple.”


In response to the ongoing discussion about the SEC’s authority over tokens, Stuart Alderoty, chief legal officer at Ripple, tweeted that the agency’s jurisdiction is limited to securities. He said if a token isn’t classified as a security, then the SEC should not have a role in its regulation. Claiming jurisdiction where none exists is merely a political power move, which ultimately benefits no one and harms everyone involved.A securities agency only has jurisdiction over securities. No security, no role for the SEC.

Pretending to have jurisdiction when there is none, is simply a political power play. It helps no one; it hurts everyone. https://t.co/OhNSaDuJ26— Stuart Alderoty (@s_alderoty) July 22, 2023


Related:Terra interim CEO says any "little progress" made gets derailed by accusations


Judge Analisa Torres’ July 13 ruling stated that XRP tokens are not securities when sold on retail digital asset exchanges. However, the decision was not entirely in the company’s favor because Ripple was found to have broken the securities laws when it offered XRP to hedge funds and other institutional buyers.


Magazine:Crypto regulation: Does SEC Chair Gary Gensler have the final say?# Cryptocurrencies# SEC# Adoption# XRP# Cryptocurrency Exchange# RegulationAdd reactionAdd reactionRelated NewsHow to check an Ethereum transactionThe last Bitcoin: What will happen once all BTC are mined?How do DeFi projects generate profit?Crypto firms won’t leave US despite apparent hostility: Merkle Science CEOXRP ruling a ‘watershed moment,’ but we’re not out of the woods yet — LawyersChair Gensler says SEC reaction to Ripple decision is mixed, still under consideration

News Feed

Martin Young4 hours agoCircle CEO: 70% of USDC adoption comes from outside the USMajor stablecoin issuers Tether and Circle are focusing on markets outside the United States, where adoption is growing.1544 Total views72
65% of Global Bitcoin Hashrate Concentrated in China
65% of Global Bitcoin Hashrate Concentrated in ChinaA new bitcoin mining map by the University of Cambridge shows that China accounts for 65% of the world’s hash power. About
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 (
Top US Food Co-Op to Track Seafood Using Mastercard’s Blockchain Tech
A food provenance platform utilizing blockchain technology from Mastercard is see real-world use by a U.S. food co-operative giant. Announced Sunday, Envisible – a firm providing
How to generate passive crypto income with masternodes
Dilip Kumar Patairya1 hour agoHow to generate passive crypto income with masternodesMasternodes enable investors to earn a steady passive income by contributing a vast amount of computing power to a blockchain network.56
Time for altseason? Analysts say altcoin market is near ‘momentum bottom’
Nancy Lubale3 hours agoTime for altseason? Analysts say altcoin market is near ‘momentum bottom’Altcoin prices have been in a rut, but a key alteason indicator hints that the “strongest wave” is yet to come.985 T
3 Stablecoins Command Positions in the Crypto Economy’s Top 10, Another Fiat-Pegged Token Is Close to Joining
3 Stablecoins Command Positions in the Crypto Economy’s Top 10, Another Fiat-Pegged Token Is Close to Joining The last five weeks has been brutal for digital currencies as more t
$1.2B In Ethereum Withdrawn From CEXs – Strong Accumulation Signal
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
UK Government Seizes $185 Million From Dormant Bank Accounts for Crisis Relief
UK Government Seizes $185 Million From Dormant Bank Accounts for Crisis ReliefThe UK government is seizing funds in dormant bank accounts worth approximately $185 million to fund it
3AC’s creditors must file dividend claims by March, says Teneo
Ana Paula Pereira6 hours ago3AC’s creditors must file dividend claims by March, says TeneoThree Arrows Capital’s liquidators intend to pay interim dividends to creditors on or around March 31, 2024. Claims must be su
Analysts Suspect Banking Crisis Triggered ‘Resting Bull Market’ in Gold, Silver Could Print Much Higher Gains
Analysts Suspect Banking Crisis Triggered "Resting Bull Market" in Gold, Silver Could Print Much Higher Gains At the start of the week, a troy ounce of .999 fine gold was trading a
Stephen Katte9 hours agoMainstream approval critical for blockchain games — Gaming execsThree gaming executives believe mainstream audiences will play a factor in the overall success and future of Web3 games.465 Total