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Search resuls for: "Teresa Goody Guillén"


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The crypto industry is in a tug-of-war with the SEC and its Democratic chair Gary Gensler, who has described the crypto market as a "Wild West" riddled with fraud. Saying most crypto tokens are securities, the SEC has cracked down on crypto trading platforms, including the top U.S. exchange Coinbase, in an effort to bring the industry under its oversight. Crypto firms have long disputed the SEC's jurisdiction but until Thursday no court had supported that view. The two sources, for example, said firms are considering ways to use the Judge's ruling for their defense. However, she also ruled Ripple's direct sales of XRP to investors should have been registered as securities, handing the SEC a partial victory.
Persons: Coinbase, Gary Gensler, Robert Frenchman, Mukasey Frenchman, Analisa Torres, XRP, Crypto, Teresa Goody Guillén, Spokespeople, Binance, Carol Goforth, Stuart Alderoty, Philip Moustakis, Jody Godoy, Chris Prentice, Hannah Lang, Tom Hals, Michelle Price, David Gregorio Our Organizations: U.S . Securities, Exchange Commission, SEC, Ripple Labs, Democratic, Mukasey Frenchman LLP, San Francisco, U.S, District, Baker, Hostetler, University of Arkansas, Reuters, Circuit, Seward, Washington , D.C, Thomson Locations: Mukasey, New York, Washington, New York , Connecticut, Vermont, Washington ,
The news sent the price of XRP, a token designed for cross-border payments, up some 70% to about 92 cents. Torres’ ruling did fall partly in the SEC’s favor, as she found that some of Ripple’s sales — to hedge funds and other sophisticated buyers — did violate securities laws. Gensler has said that most crypto tokens — with bitcoin as a notable exception — are securities that fall under the SEC’s jurisdiction. ‘Some much needed sunlight’Despite the nuance of Torres’ ruling, crypto investors are cheering it as a long overdue win. “This ruling, although nuanced, provides some much needed sunlight and cheer into the altcoin space, those non-Bitcoin tokens.”
Persons: Analisa Torres, XRP, Gary Gensler, Torres ’, Stuart Alderoty, , “ XRP, “ We’ll, Gensler, Teresa Goody Guillén, Coinbase, Torres, Sam Bankman, Alex Mashinsky, Mashinsky, Antoni Trenchev Organizations: New, New York CNN, Securities and Exchange Commission, Southern, of, SEC Locations: New York, of New York, United States
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