#Bitcoin "Wright lied “extensively and repeatedly” in written and oral evidence. “Most of his lies related to the documents he had forged which purported to support his claim … Dr Wright’s attempts to prove he was/is Satoshi Nakamoto represent a most serious abuse of this court’s process.”" https://lnkd.in/dNJBa6qc
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🏛️ Ripple vs. SEC: What’s the Real Impact on Crypto’s Future? 🏛️ The Ripple vs. SEC lawsuit is more than just a courtroom battle—it's shaping the future of the crypto industry. Here's the crux: ⚖️ **The Context:** Ripple, the blockchain giant, is facing scrutiny for allegedly selling unregistered securities via its XRP tokens. The SEC argues that these tokens qualify as securities, thus falling under their regulatory purview. 💥 **Core Arguments:** 1. **Regulatory Clarity:** This lawsuit pushes for clear regulations in the crypto realm, essential for innovation without overstepping legal boundaries. 2. **Market Implications:** A ruling favoring the SEC may set a precedent affecting various crypto projects, potentially classifying numerous tokens as securities. 3. **Adoption & Trust:** The outcome could either boost trust in regulated crypto assets or create roadblocks for mass adoption due to perceived legal risks. 🔍 **Key Data Points:** - XRP's market cap has seen significant volatility amid this legal tussle. - Previous SEC actions have led to hefty settlements, e.g., $24 million in Telegram's case. 🚀 What can we, as a community, do? - 📢 Advocate for sensible regulations. - 💡 Innovate responsibly. - 🤝 Share insights and experiences. #Ripple #SEC #CryptoRegulation #Blockchain #XRP #CryptoFuture #Innovation #BlockchainLaw What are your thoughts on the Ripple vs. SEC saga? How do you see it impacting the broader crypto landscape? Share your insights! 💬 Read More:
Ripple vs. SEC: What’s the Real Impact on Crypto’s Future? – cryptoeaglenews.com
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Investigator, Researcher, Consultant, Educator, and Int'l Speaker in DLT Architecture, L2 contracts/DApps, Digital Assets, XR (MR: AR/VR), AI, and Alternative Payment Systems
Following up on my post last week on the COPA v. Craig Wright suit, COPA presented that Wright falsified documents to further the claim of his Satoshi persona. Wright, the self-proclaimed Satoshi Nakamoto, argued that evidence presented by the Crypto Open Patent Alliance (COPA) was misconstrued as forgery. In this second week, questions posed by COPA lawyer, Jonathon Hough, is following a line of reasoning related to early BTC transactions by Satoshi. Rational: If Craig Wright really is Satoshi Nakamoto, he should be able to remember who Satoshi’s wallet transacted with. So, Wright faced questions this week about those early BTC transaction. When Hough asked Wright about these transactions yesterday, Wright struggled to name the transaction recipients involving Satoshi Nakamoto’s wallet. Wright also failed to recall the details of early Satoshi payments he claims to have sent: “You said you transferred to hundreds of people,” Hough stated to Wright yesterday (February 7). “I don’t remember all of them now,” Wright responded. At this, Judge James Mellor interrupted to express disbelief. As well as exposing Wright’s lack of knowledge about transaction activity originating from wallets that are known to have belonged to Satoshi Nakamoto, Hough cast doubt on transactions Wright alledges to remember. Wright claims he sent BTC to the ZCash inventor Zooko Wilcox. Hough raised the issue of Wright's claim he sent BTC to Zooko Wilcox: “In reality, Satoshi never transferred to Zooko," Hough's stated. Wright then reasserted his claim, to which Hough responded: “So he’s [Zooko] wrong when he says he never received from Satoshi?” So, Wilcox will testify in court this week as one of COPA’s witnesses. It's notable that Wilcox has stated he believes Wright is “scammer scum” a that he has created “bogus evidence” to support his claim. #acfe
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It would be nice if there were a clear answer in Ontario to the question of whether and how investigative summonses can be reviewed, including for compliance with the Charter. Here's a recent decision of the Ontario Securities Commission that is related to a Divisional Court decision I posted about. https://canlii.ca/t/k4fcn It's part of a long-running saga that I've been following, involving Binance, a cryptocurrency exchange. (In unrelated news, Binance's founder was just sentenced to 4 months in prison for a money-laundering violation.) The OSC is investigating Binance for securities violations in Ontario. The OSC appointed investigators and the investigators issued a s. 11 summons seeking information from Binance. Binance has been challenging the summons, saying it would infringe s. 8 of the Charter. The tricky question is whether any body actually has jurisdiction to review the summons. First Binance applied to the Capital Markets Tribunal, but the Tribunal held that it didn't have jurisdiction to review decisions of the Commission. Then Binance applied to the Divisional Court by way of judicial review, but the Divisional Court declined to decide the summons issue, holding that "a Charter challenge should be raised before the administrative decision-maker and it would come to this Court with the related evidentiary record and analysis." It then held "there remains an avenue to pursue these issues at the OSC that has not been attempted – an application to the Commission under s. 144(1) of the Securities Act." So now Binance applied to the OSC under s. 144. But the OSC held that s. 144 doesn't give it jurisdiction to review a summons, since a summons is not "a decision of the Commission" - it's a decision of an investigator appointed by the Commission. What's next - an application for judicial review from the OSC decision declining to exercise jurisdiction?? #searchandseizure #securitiesregulation #cryptolaw
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Godzilla vs Kong: Crypto Faces Off Against SEC Scrutiny 🦖🆚🤖 The battle lines are drawn! A recent Cointelegraph story https://lnkd.in/gAvuZRbz investigates the ongoing conflict between the SEC and the cryptocurrency sector. This conflict, like a blockbuster monster brawl, has the potential to have far-reaching consequences for cryptocurrency legislation. 🌐💼💥 The SEC, keen to use its authority, has imposed fines and filed legal action against many cryptocurrency businesses. Despite confronting significant legal firepower from the crypto business, the SEC has achieved several triumphs, proving its commitment to pursuing regulatory action. ⚖️💼💥 However, the cryptocurrency sector is not giving up without a fight. With its combined resources and expanding influence in politics, the business is waging a robust defense, advocating for clearer and more accommodating policies. 💼💪🏛️ So, who will be winning? The answer remains to be seen. One thing is certain: the outcome of this battle will have a long-term influence on the cryptocurrency landscape. 📉📈🌐 At Inery, we believe in blockchain's disruptive potential. We advocate for well-defined policies that promote innovation while protecting investors. A clear regulatory framework is required for widespread adoption of cryptocurrency. 🛡️💡💰 Join the discussion! What are your opinions on the SEC's approach to cryptocurrency regulation? How can we strike a balance between innovation and investor protection? 💬🤔💡 #cryptocurrency #regulation #SEC #blockchain #Inery
Godzilla vs. Kong: SEC faces fierce battle against crypto’s legal firepower
https://cointelegraph.com/magazine
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Will Ripple's Legal Battle Change Crypto Rules? 🏛️💼 In a pressing case, the SEC counters Ripple's desire to hide key financial details, deeming it illegal. This case could redefine transparency in the crypto industry. The SEC insists on full disclosure, arguing that investor protection and market integrity depend on transparency. Ripple fights back, proposing a far lesser penalty than the SEC's suggested $2 billion, asserting that such a hefty fine is excessive. Read more below: #recruitment #crypto #blockchain #web3
SEC Opposes Ripple's Redaction in Landmark Legal Dispute
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Is the SEC Overreaching in its Crypto Crackdown? 🤔💼🔍 The SEC is ramping up its legal battles against the crypto industry, with $2.89 billion in penalties in 2023 alone. Is this increased enforcement a sign of regulatory overreach or necessary oversight? Despite wrestling with resource strains from multiple fronts, the SEC requested a $2.6 billion budget to enhance its enforcement capabilities. Will this be enough to sustain its intense scrutiny over the booming crypto market? Amidst political and strategic timings, SEC Chair Gary Gensler might be accelerating enforcement actions to cement his legacy before his term ends. How will this affect the crypto landscape as elections loom? Read more below: #recruitment #crypto #blockchain #web3
The SEC's Intensified Crusade Against the Crypto Industry
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Is Lejilex a Victim of SEC Overreach in Crypto Regulation or Just Trying to Evade Compliance?" Join us as we delve into recent news about blockchain technology company, Lejilex. Lejilex has recently made headlines by challenging SEC regulations, embarking on the battleground of crypto vs securities. The core argument? They facilitate crypto transactions, not securities sales and ultimately they are seeking court protection against SEC enforcement overreach. This marks yet another chapter in the continuously evolving landscape of cryptocurrency regulation — an issue steeped in controversy and divided opinions. Notably, this conflict brings to light a crucial question: Can financial systems fully incorporate digital currencies while striking a balance with necessary controls? Recall that blockchain enterprises have often found themselves at odds with regulatory bodies due to the novel nature of cryptocurrency operations. Lejilex's defense presents us with some food for thought — can traditional compliance measures really apply coherently to decentralized technologies? Or is there an urgent need for regulators worldwide to re-examine their strategies? The direction this case turns can significantly impact – for better or worse – how other firms navigate the complex crossroads between maintaining regulatory compliance and innovating through blockchain technology. Are you curious where this will lead and what it means for companies operating within the same sphere? Follow us as we monitor this unfolding legal drama within the crypto world. Intrigued? Join our discussion here on [link] (https://lnkd.in/epWSmUw2) #LejilexCrypto #SECRegulation #CryptoTransactions #SecuritiesSalesOnce #BlockchainTech #CryptoComplianceWar #DigitalCurrencyRegulation #DecentralizedTechIssues #CryptocurrencyControversy #FinanceAndInnovation
Lejilex Seeks Legal Protection against SEC Overreach in Crypto Regulation
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Binance to SEC: stop using our admissions of guilt to prove we’re guilty #crypto #blockchain #cryptocurrency #cryptonews #cryptotrading #nft #btc #eth Binance says its admissions of guilt regarding its long history of noncompliance shouldn’t be used by America’s securities regulator to illustrate the digital asset exchange’s refusal to comply. This week, Binance submitted a flurry of new briefs with the U.S. District Court for the District of Columbia, addressing the civil complaint filed by the Securities and Exchange Commission (SEC) against Binance and its founder Changpeng ‘CZ’ Zhao. Binance/CZ stand accused of offering unregistered securities to U.S. citizens and misleading investors for profit. The SEC filed a brief on December 8 asking the court to allow the SEC to introduce evidence from the record $4.3 billion settlement reached last month between Binance/CZ and the U.S. Department of Justice, asserting that the facts presented and admissions of guilt within that settlement complement the SEC’s case against Binance. Binance’s defense against the SEC complaint is that the exchange never received “fair notice” from the SEC that it was violating America’s securities laws. However, the SEC argues that Binance was “aware of and deliberat...
Binance to SEC: stop using our admissions of guilt to prove we’re guilty • Cointacted
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SEC Faces Major Scrutiny Over Crypto Regulation ⚖️ This year, a significant hearing wi...https://lnkd.in/dpipikRG #Crypto #CryptoMarket #CryptoRegulations #CryptoSecurity #Ethereum #Financial #crypto #cryptonews #lolacoin #cryptomarket #finance
Regulatory Failures of Gary Gensler Exposed at Crypto Hearing 🔍💼
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Not a crypto specific ruling but one that will likely change the dynamics of regulation by enforcement relied upon by the SEC in regulating crypto. This recent ruling by the US Supreme Court has shut down "In-House Tribunals" so I'm wondering if this means whether the SEC will hire more lawyers and law firms and sue more companies or perhaps utilize the option of working with the industry to create a framework that both protects and at the same time allows innovation to take place. These seem the only two avenues currently available until modern laws are created that update archaic laws from the last century. This past month saw some partisan support for various related bills but alas the current administration's veto blocked the repeal of SEC Staff Accounting Bulletin #121 relating to crypto assets which may indicate that only veto proof legislation will be successful in making new laws.
U.S. Supreme Court Says No More In-House Tribunals for the SEC, Other Federal Regulators
coindesk.com
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