- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-07-18T21:06:00
A federal judge ruled the digital asset token XRP does not intrinsically possess the characteristics of a security that must be registered with the Securities and Exchange Commission (SEC), a blow to the agency’s argument regarding the regulation of digital assets.
But experts believe the decision has not cleared the uncertainty that remains around the regulation of digital assets.
On Thursday, U.S. District Court Judge Analisa Torres ruled roughly half of the sale of approximately $1.3 billion worth of XRP by issuer Ripple Labs from 2012-20 did not violate securities law. She allowed the SEC to continue to pursue its allegation the sale of $728 million of XRP during that same period did violate the law.
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The Securities and Exchange Commission’s approval of spot bitcoin exchange-traded funds will provide investors with the same access to bitcoin, bought for cash on the spot market, as they currently have to other investments—for better or worse.
Commissioner Caroline Pham of the Commodity Futures Trading Commission proposed the agency develop a regulatory pilot program for digital asset markets where new initiatives could be introduced and refined.
The Securities and Exchange Commission’s two Republican commissioners dissented from an agency order against transfer agent DST Asset Manager Solutions they deemed to be an example of regulation by enforcement.
Mobile health applications and similar technologies must notify customers following a data breach or risk violating the Federal Trade Commission’s health breach notification rule.
Kristin Johnson of the Commodity Futures Trading Commission called for the agency to launch initiatives addressing the use—and misuse—of artificial intelligence tools in commodities markets.
Tens of millions of noncompete clauses included in employee contracts nationwide will be null and void by about Labor Day under a final rule issued by the Federal Trade Commission.
