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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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.
The Securities and Exchange Commission ordered cryptocurrency trading platform Bittrex and its foreign affiliate Bittrex Global to pay $24 million for running an unregistered national securities exchange, broker, and clearing agency.
The Financial Crimes Enforcement Network announced a notice of proposed rulemaking to extend the deadline for companies created or registered in 2024 to file their initial beneficial ownership information reports.
The Securities and Exchange Commission adopted amendments to its rule covering fund names to ensure the regulation is appropriate to address new investment drivers, namely environmental, social, and governance matters.
The actions of companies like Amazon and new legislation passed in California prove it’s no longer a question of if companies will be required to disclose their greenhouse gas emissions—it’s a question of when, experts told attendees at CW’s virtual ESG Summit.
