Ethereum News Daily Official TheBitTimes.com

Outgoing Securities and Exchange Commission (SEC) Chairman Gary Gensler has filed a document that will probably be his organization’s final lawsuit against a crypto promoter. The document explains why a crypto industry-redefining ruling about Ripple’s XRP was supposedly a tragic error. In the SEC’s new appeal to the Second Circuit, commissioners revisit the landmark ruling by the US District Court for the Southern District of New York — concluding that it was a huge mistake. In that widely misinterpreted ruling, judge Analisa Torres decided that Ripple didn’t illegally offer $757 million worth of unregistered securities via programmatic sales of XRP to retail buyers. Within hours, that determination sparked a 60% rally of the XRP token and spread misconceptions like the belief that “no blockchain token is ever a security” or that somehow the SEC never has jurisdiction over crypto exchanges.  Fans of the decision preferred to ignore US courts’ lo...

Although the video dates back to 2018, Gensler explicitly says that “Over 70% of the crypto market is Bitcoin, Ether, Litecoin, Bitcoin Cash. Why did I name those four? They’re not securities.” advertisement According to a related report by Cointelegraph, back then, Gary Gensler held a faculty position at the esteemed Massachusetts Institute of Technology (MIT). The footage dates back nearly two years prior to his eventual ascension to the Chair of the Securities and Exchange Commission (SEC). In a stark juxtaposition to his previous stance, Gensler’s subsequent actions at the SEC paint a different picture. The recent months have witnessed the regulatory body plunge into a wave of enforcement initiatives within the cryptosphere. Last week, Gensler listed 68 cryptos as SEC urities, including Cardano (ADA), Solana (SOL), and Polygon (MATIC) in the most recent lawsuits. Moreover, the regulatory chair once declared that all cryptocurrencies ap...

Documents filed by the SEC on Wednesday reveal that two attorneys from Binance ’s law firms allege that the SEC chair offered to serve as an advisor to the exchange in several conversations in March 2019. The filing further claims that Gensler met Zhao in Japan for lunch later that month, CNBC reported. advertisement Earlier, the US SEC filed 13 charges against the world’s largest crypto exchange by trading volume. Binance-Gary Gensler relationship dates back to 2018 As per Binance ’s lawyer, the SEC chair was trying to cozy up to the company before he started going after Binance . The Wall Street Journal previously reported on Gensler and Binance ’s relationship, citing internal Binance messages and a person close to the SEC chair. Both suggested that Binance approached Gensler. The filing claims Zhao continued to stay in touch with Gensler after the March meeting. And at the future SEC chair’s request, Zhao sat down f...