Seeking class action status, the petitioners have asked the court to force the SEC to place any funds it receives from its own lawsuit against Ripple and two top executives in a trust for individual retail investors harmed by the agency's action.
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Will Bitcoin ETF applications fare any better under the crypto-skeptical Treasury Secretary nominee Janet Yellen? (Photo: Wikimedia Commons)VanEck makes another Bitcoin ETF run
Will the investment management firm’s latest proposal fare any better with an SEC under the control of crypto-skeptic and Treasury Secretary nominee Janet Yellen?
Investment management firm VanEck has filed with the U.S. Securities and Exchange Commission to launch a Bitcoin exchange-traded fund. VanEck is clearly hoping that the departure of SEC chairman Jay Clayton will give its latest ETF application a chance.
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The SEC gets a new chairman… for now
While it comes at a critical time, the appointment of crypto-friendly Commissioner Elad Roisman to replace Chairman Jay Clayton at the Securities and Exchange Commission will likely last no more than a month or two
That means Roisman is unlikely to make any big, precedent-setting decisions, like approving a Bitcoin exchange traded fund (ETF). Clayton was a strong opponent of crypto ETFs, arguing that price manipulation and fraud remains rampant.
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Ripple, Garlinghouse come out swinging at SEC’s XRP lawsuit
Saying it is fighting for the entire crypto industry, Ripple and its CEO responded aggressively to the Securities and Exchange Commission’s claim that XRP is an unregistered security they sold illegally
Rather than the accommodating tone most companies take when sued by the SEC, Ripple, Garlinghouse, and Larsen have come out the door swinging, accusing the agency of legislating by litigation and promising to fight the charges vigorously on behalf of both themselves and the larger cryptocurrency industry.
