The Securities and Exchange Commission (SEC) continues to take a keen interest in digital assets, with several cases currently underway.
The Securities and Exchange Commission (SEC) continues to take a keen interest in digital assets, with several cases currently underway. In this article, we will delve into some of the most notable updates from the SEC‘s ongoing investigations and resolutions.
The Securities and Exchange Commission (SEC) is a US government agency responsible for protecting investors, maintaining fair capital markets, and facilitating corporate transparency.
Established in 1934, the SEC oversees the registration of companies, enforcement of securities laws, and regulation of financial institutions.
Its primary goals include promoting investor confidence, preventing market manipulation, and ensuring accurate disclosure of financial information.
The Binance-SEC Case
A joint status report was filed by attorneys representing the ‘We request an extension of the 60-day pause in the case until another 60 days have passed.’ SEC and Binance, requesting an extension of the 60-day pause in the case until another 60 days have passed. This move comes as part of the agency’s efforts to understand how its new crypto task force might address digital assets and securities laws.
The Binance-SEC case refers to the regulatory scrutiny faced by Binance, one of the world's largest cryptocurrency exchanges.
In 2021, the US Securities and Exchange Commission (SEC) launched an investigation into Binance's operations, alleging unregistered securities offerings and potential market manipulation.
Key events include a 2022 cease-and-desist order from the SEC, followed by Binance's decision to suspend US dollar deposits and withdrawals.
The case highlights regulatory challenges for cryptocurrency exchanges and underscores the need for clear guidelines on digital asset regulation.
Nova Labs Settlement
In a separate development, Nova Labs has reached a settlement agreement with the ‘The company will pay $200,000 without admitting or denying any allegations.’ SEC. According to the proposal, Nova Labs will pay $200,000 without admitting or denying any allegations. The company was first sued by the SEC in January 2025.
Ripple-SEC Case Update
Ripple and the ‘The parties came to an agreement to resolve the case entirely.’ SEC have filed a joint motion to pause their ongoing appeals, following an announcement last month that the parties came to an agreement to resolve the case entirely.
The Ripple vs. SEC case has been ongoing since December 2020, with the SEC accusing Ripple of conducting an unregistered securities offering.
In May 2022, Judge Torres ruled that the SEC's argument for a broad interpretation of 'security' was too narrow, allowing the case to proceed.
The trial is expected to begin in September 2023.
Ripple has raised $23 billion on its XRP ledger, with over 40% held by institutional investors.
Block and New York Settlement
Block has agreed to a $40 million settlement with the ‘The allegations were of faulty money-laundering controls in its Cash App.’ New York Attorney General’s office over allegations of faulty money-laundering controls in its Cash App.
DCG Motion Dismissed
A New York state judge has tossed out two of the claims against Digital Currency Group and its executives, but allowed most of the case to proceed.
- coindesk.com | More SEC Case Updates
