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US Securities and Exchange Commission (SEC) has requested judge to reject Coinbase's appeal for more clarity on cryptocurrency regulations.
#SECNews
#Coinbase
#crypto
#crypto2023
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A Friday press release shows that Donald Trump will host the first-ever crypto summit in the White House, further deepening his ties with the industry. Prominent FOX Business journalist Eleanor Terrett confirmed this development, marking a new dispensation for cryptocurrency and blockchain technology in the United States. Terrett’s X post stated that the maiden White House congregation would happen on Friday, March 7. Notably, Donald Trump will preside over and deliver remarks at the pro-crypto gathering, a showing of his commitment to the digital asset industry. Also, key industry players, including CEOs, prominent crypto founders, and the White House crypto working group, will attend. Donald Trump to Host Industry Leaders In his first week in office, Trump signed an executive order to make America the crypto capital of the world. While he has delivered some of his campaign promises to the nascent industry, the March 7 gathering further stomps his renewed commitment to seeing the sector thrive in the United States. The White House crypto summit is the first of its kind and will draw the crypto industry closer to the presidency. Trump’s crypto and AI czar, David Sacks, and the working group executive director, Bo Hines, will also lead the star-studded gathering. Meanwhile, the summit’s theme was unannounced, leaving the community to speculate. Nonetheless, industry enthusiasts expect crucial discussions on crypto regulation, institutional adoption, stablecoins, and the creation of a US Bitcoin stockpile. #CryptoNewsFlash
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FOX Business Journalist Eleanor Terrett rejects speculation that the U.S. #SEC recently discussed the imminent dismissal of its appeal against Ripple. On February 24, the SEC Crypto Task Force met with legal experts to address issues relating to crypto regulation. Ripple Ruling Highlighted in SEC Meeting During the meeting, legal experts Jason Gottlieb, Andrew Hinkes, and J.W. Verret submitted a document analyzing certain crypto regulatory issues facing the SEC. The document highlighted the Ripple case to analyze how the commission had alleged that certain cryptos are securities without judicial confirmation that the tokens are securities themselves or used as part of investment contracts. Notably, it emphasized that courts have not universally accepted the SEC’s position on crypto-related secondary market transactions, as observed in the Ripple lawsuit. “Indeed, when the SEC’s theory was tested in the Ripple case, Judge Torres found that such transactions do not constitute investment contracts because the purchasers could not ascertain whether their payment went to Ripple or other XRP sellers,” an excerpt from the document read. FOX Business Journalist Refutes Speculation About Ripple Case Dismissal With the document highlighting the Ripple case, some XRP community members speculated that the SEC’s crypto task force met with lawyers to discuss the potential dismissal of the multi-year lawsuit. Responding, Terrett refuted this speculation with an emphatic “no.” This indicates that the rumor about the SEC considering dropping the Ripple case is false. The FOX Business journalist attached a facepalm emoji to her response, indicating her frustration with the rumor, which she finds baseless. #Crypto
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