17:37:24 EDT Sat 27 Apr 2024
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Globe/wire say SEC likely to have another go at Ripple

2024-01-02 07:55 ET - In the News

Also In the News (U-*SEC) U S Securities and Exchange Commission

The Globe and Mail reports in its Saturday edition that U.S. courts have some big rulings to make in 2024. A Reuters dispatch to The Globe says that key rulings are likely in the coming year in the Securities and Exchange Commission cases against major cryptocurrency exchanges Binance and Coinbase. Both have argued that Congress did not empower the SEC to police crypto, an argument judges have rejected in other digital-asset cases. Meanwhile, the SEC is likely to appeal its first loss in the crypto arena in the Ripple Labs case. The judge on the case ruled in July that the blockchain company's sales of digital assets on public cryptocurrency exchanges were not offers of securities. Also scheduled for trial are financial crime cases brought by U.S. Attorney Damian Williams. Bill Hwang, the founder of Archegos Capital Management, is scheduled to face trial on fraud charges over the collapse of his private investment firm which saddled big banks with $10-billion (U.S.) in losses. Mr. Hwang and former Archegos executive, Patrick Halligan, are accused of lying to banks in order to increase Archegos's credit lines and use the borrowed money to manipulate the stock prices of companies including Viacom, Discovery and Tencent.

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