Bitnomial Sues SEC Over XRP Security Claim
Bitnomial has sued the SEC, alleging it overstepped by classifying XRP as a security. Bitnomial, a cryptocurrency exchange, has filed a lawsuit against the United States Securities and Exchange Commission and its five commissioners, alleging that the agency has “overextended its jurisdiction over digital assets” by asserting that XRP is a security. In the lawsuit […]
SEC Sues Cumberland DRW for Unregistered Securities Dealer
Cumberland DRW LLC is facing allegations from the U.S. Securities and Exchange Commission for engaging in unregistered dealer activities. According to the SEC, Cumberland, a market maker for cryptocurrencies in Chicago, purchased and sold over $2 billion worth of cryptocurrency assets—including those classified as securities—without first registering as required by federal securities laws. According to […]
SEC Enforcement Director Gurbir Grewal Resigns
Gurbir Grewal left the SEC after working there for three years and completing over a hundred enforcement cases pertaining to cryptocurrencies. The director of enforcement for the U.S. Securities and Exchange Commission, Gurbir Grewal, will leave the federal regulator on October 11th, according to a statement from the agency. Grewal oversaw more than 2,400 lawsuits […]
Lejilex Accuses SEC of Exceeding Regulatory Authority
Texas-based crypto startup Lejilex has accused the United States Securities and Exchange Commission of exceeding its regulatory authority. Lejilex, a crypto startup, and the United States Securities and Exchange Commission have submitted opposing briefs for summary judgment in a federal court in Texas, which has significantly escalated their legal dispute regarding the classification of cryptocurrency. […]
US, SEC Support Crypto Sales Lawsuit Against Nvidia in Supreme Court
The U.S. Justice Department and SEC urged the Supreme Court to allow a class action lawsuit against Nvidia, alleging the company misled investors about sales to crypto miners. The United States Justice Department and the Securities and Exchange Commission have informed the Supreme Court that an investor class suit against Nvidia, which alleges that the […]