SEC

The SEC seems to be dedicating the year 2023 to cryptocurrencies and has rolled up its sleeves to multiply the approximately 100 lawsuits it has opened so far. This week, we heard about the SEC's second crypto-focused lawsuit. This lawsuit is a bit different from the others because it targets a former police officer. What did this police officer do to earn the SEC's wrath? Here are the details.

Despite anticipation for a verdict in the Grayscale case on Friday, no decision was made. Speculation then turned to Tuesday for the announcement. The Chief Legal Officer of Grayscale made the expected statement on August 22nd, the second predicted date for the verdict.

As the cryptocurrency industry grows, investors are becoming more familiar with the intricacies of the US legal system. The ongoing lawsuit between Ripple Labs and the United States Securities and Exchange Commission (SEC) is a case in point.

The SEC's crackdown on crypto companies has intensified, following a series of financial mishaps in the sector, including the collapse of FTX. Gemini, a prominent crypto exchange, has accused the SEC of acting inconsistently and without transparency, which it believes underlines the regulator's unfairness.

Post SEC lawsuits, 19 tokens see a significant drop in value but an increase in trading volume, with some maintaining high volumes despite delisting by major platforms.

Binance.US, the American branch of Binance, has requested court protection against what it claims to be an overreaching investigation by the Securities and Exchange Commission (SEC). The exchange alleges that the SEC's demands for information have crossed the line and that the regulator has yet to provide evidence of misuse of customer assets.

Senator Cynthia Lummis has challenged the SEC's lawsuit against Coinbase, arguing that it contradicts current legislative efforts and that the SEC has exceeded its authority in regulating cryptocurrencies.

In the ongoing lawsuit between Coinbase, a leading cryptocurrency exchange, and the U.S. Securities and Exchange Commission (SEC), a group of legal scholars from top American universities have submitted an amicus brief in support of Coinbase. The scholars argue that the definition of an "investment contract" is key in deciding whether tokens traded on Coinbase are unregistered "securities". Additionally, several other organizations have also submitted amicus briefs backing Coinbase.