Fenwick & West’s Post

The Fourth of July holiday wouldn't be complete without our overview of the epic 90-page SEC v. Binance decision.   Here's some key takeaways:   ⚖️Most of the SEC's claims survive the MTD, including registration and fraud claims. ⚖️The Court dismissed claims based on secondary market transactions and those involving Binance's stablecoin BUSD. ⚖️But, even as to surviving claims, the Court was skeptical about how the SEC is applying Howey to crypto and how its theories would fare on summary judgment.   Check out the full analysis in our latest alert below.   #crypto #sec #cryptocurrency #litigation #regulation

We find the involvement of XRP attorneys representing Coinbase users in the SEC clash intriguing. It highlights the need for legal representation amidst regulatory challenges, especially regarding the classification of digital assets like XRP. This underscores the complexities of navigating the regulatory landscape and the importance of protecting the interests of crypto investors. We're eager to see how this legal battle unfolds and its potential impact on cryptocurrency regulations. https://lnkd.in/g5ZG47EF #crypto #web3

📣 Landmark Victory for Ripple and the Cryptocurrency Industry! 🎉 The U.S. Securities and Exchange Commission's legal battle with Ripple Labs has concluded, and it's a victory for Ripple! This ruling has significant implications for the crypto world, providing much-needed regulatory clarity. The court has declared that Ripple's XRP token sales on public exchanges are not securities offerings, a decision that challenges the SEC's stance on crypto tokens. This victory could pave the way for a more balanced and transparent regulatory environment for cryptocurrencies. Want to know more about the case and its impact on the crypto world? Read the full article here: https://lnkd.in/dp_uptYV #Ripple #Cryptocurrency #Regulation #SEC #XRP

Check out our article in the Futures and Derivatives Law Report on Grayscale's successful challenge of the SEC's rejection of an application to create a spot bitcoin ETF.

Yesterday, the Senate voted to overturn the SEC's SAB 121, which prevents regulated financial institutions from custodying #Bitcoin and other #crypto assets. It now goes to President Biden to either sign or veto, though he has already indicated he plans to veto the bill. Regardless of his actions, this is a huge signal that the momentum for bitcoin and cryptocurrency has shifted. #Bitcoin #btc #SEC #SAB121

Eversheds Sutherland attorneys Owen Pinkerton, Eric Simanek, Raymond Ramirez and John Coffron authored an article titled, “Grayscale’s successful challenge of SEC denial and its potential implications,” in the Futures and Derivatives Law Report, where they discuss the state of crypto regulation, the bitcoin ETP market and the implications of the related Grayscale decision. #Bitcoin #Cryptocurrency #CryptoRegulation https://lnkd.in/g8W8PQUS

JUST IN: Ripple's legal battle with the SEC takes an unexpected turn, causing volatility in XRP's value. Judge Torres ruled in favor of Ripple, triggering a price surge, followed by a sharp decline. Meanwhile, the SEC challenges the ruling. However, a recent court decision doesn't mean approval of the appeal. XRP's value remains influenced by various factors amid the broader crypto market dynamics. Stay tuned for updates! #Ripple #SEC #cryptocurrency To learn more and read the complete story, click on this link. https://lnkd.in/gXFRnvtJ

Ripple v. SEC case update as of May 10, 2024 ➡️ Read All : https://lnkd.in/eTiWfBT4 With the cryptocurrency community still at the edge of its seat, waiting for the closure of the protracted courtroom battle between Ripple and the United... [...] #RippleVsSEC, #CryptocurrencyNews, #CryptoRegulation, #XRP, #CryptoCourtCase, #Crypto, #Legal, #NBTC

🧾🧾 IRS Steps Back Crypto Tax Rules The US Internal Revenue Service delays enforcing the requirement to report cryptocurrency transactions exceeding $10,000, postponing the release of detailed regulations to gather public feedback and improve the law. The move is met with support from the crypto community, who see it as a way to avoid accidental misreporting and penalties. #cryptocurrency #taxlaw #IRS #regulation #fintech 📑📑資料來源： ➡️ https://lnkd.in/gpDsjGcP -選智慧勝金銀，隨洰苙看潛力- 📍Rich Fish Community：https://lnkd.in/gyVfytJq