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Submitted URL: http://xgspa.top/2024/10/03/sec-appeals-decision-that-restricted-its-crypto-oversight
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Skip to content No results * Gutenberg Blocks * Pages Physical Address 304 North Cardinal St. Dorchester Center, MA 02124 Facebook Twitter Instagram Pinterest YouTube * Partners * Press * About * Useful Facebook Twitter Instagram Pinterest YouTube Search * Gutenberg Blocks * Pages Contribute Menu SEC APPEALS DECISION THAT RESTRICTED ITS CRYPTO OVERSIGHT * admin * October 3, 2024 * News (Adds Ripple CEO comments, paragraphs 8-9) By Jonathan Stempel NEW YORK, Oct 2 (Reuters) – The U.S. Securities and Exchange Commission said on Wednesday it is appealing a court ruling that restricted its ability to regulate cryptocurrency markets. Wall Street’s main securities regulator will ask the 2nd U.S. Circuit Court of Appeals in Manhattan to review a July 2023 decision that the XRP token sold by Ripple Labs on public exchanges did not meet the legal definition of a security. The decision by U.S. District Judge Analisa Torres meant the sales of the token, totaling about $757 million, were not subject to investor protection laws that the SEC enforces. If the appeals court agreed, or defined securities narrowly, it could impede the SEC’s ability to police the cryptocurrency exchange Coinbase and other defendants selling or making markets for newer, non-traditional financial products. Torres also gave the SEC a partial victory, saying another $728 million of XRP sales to institutional investors should have complied with securities laws. She fined Ripple $125 million in August, but put the fine on hold pending an appeal. The SEC had sought $2 billion. Torres’ stay would last until the 2nd Circuit ruled, court records show. Ripple can also appeal parts of Torres’ rulings that it dislikes. Ripple CEO Brad Garlinghouse said the SEC decision to appeal was “misguided” and “infuriating,” but not a surprise. “While we’ll fight in court for as long as we need, let’s be clear: XRP’s status as a non-security is the law of the land today,” Garlinghouse said in a post on X. (Reporting by Jonathan Stempel in New York; Editing by Bill Berkrot and Jamie Freed) TRENDING NOW MRT pass registration suspended till Nov 7Viral Season 2024-2025: Try for An Ounce of PreventionAkali Dal seeks ban on Kangana Ranaut’s ‘Emergency’ fearing ‘communal tensions’Brazil’s Supreme Court confirms X suspension Facebook Twitter Instagram Pinterest YouTube * Partners * Press * About * Useful POPULAR POSTS * MRT pass registration suspended till Nov 7 November 1, 2024 * Kartik Aaryan, Vidya Balan promote Bhool Bhulaiyaa 3 on Howrah Bridge October 29, 2024 * New rules for US national security agencies balance AI’s promise with need to protect against risks October 26, 2024 ABOUT US * About Organization * Our Clients * Our Partners USEFUL INFORMATION Vim in meis verterem menandri, ea iuvaret delectus verterem qui, nec ad ferri corpora. Euismod nisi porta lorem mollis. Interdum velit euismod in pellentesque. CONTACT INFO Lorem ipsum dolor sit amet, ea has ignota putent. Ridens aliquid indoctum an est, his ad movet graece, vim ut omnes mentitum appetere. * Address: 4364 Arbutus Drive Miami Springs, FL 33166 * Phone: 305-841-0118 * Website: xgspa.top Copyright © 2024 - English English