- Chief Compliance Officer and VP of Legal Affairs, Arrow Electronics
By 
Aaron Nicodemus2023-07-18T21:06:00
A federal judge ruled the digital asset token XRP does not intrinsically possess the characteristics of a security that must be registered with the Securities and Exchange Commission (SEC), a blow to the agency’s argument regarding the regulation of digital assets.
But experts believe the decision has not cleared the uncertainty that remains around the regulation of digital assets.
On Thursday, U.S. District Court Judge Analisa Torres ruled roughly half of the sale of approximately $1.3 billion worth of XRP by issuer Ripple Labs from 2012-20 did not violate securities law. She allowed the SEC to continue to pursue its allegation the sale of $728 million of XRP during that same period did violate the law.
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The Securities and Exchange Commission’s approval of spot bitcoin exchange-traded funds will provide investors with the same access to bitcoin, bought for cash on the spot market, as they currently have to other investments—for better or worse.
Commissioner Caroline Pham of the Commodity Futures Trading Commission proposed the agency develop a regulatory pilot program for digital asset markets where new initiatives could be introduced and refined.
The Securities and Exchange Commission’s two Republican commissioners dissented from an agency order against transfer agent DST Asset Manager Solutions they deemed to be an example of regulation by enforcement.
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Securities and Exchange Commission Chair Gary Gensler will step down from his position as the top U.S. regulator of Wall Street when Donald Trump is sworn in as president on Jan. 20, ending weeks of speculation about his future.
President-elect Donald Trump announced he plans to appoint Cantor Fitzgerald President and CEO Howard Lutnick to lead the U.S. Commerce Department, as the incoming administration is expected to charge import tariffs against friends and foes.
