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Aug 13, 2024 | 
jdsupra.com | Daniel Davis |Gary DeWaal |Alexander Kim
In a setback to the Securities and Exchange Commission’s (SEC) crypto enforcement efforts, a federal court has denied the agency’s request for disgorgement of profits in its case against Ripple Labs. The ruling, issued by Judge Analisa Torres of the US District Court for the Southern District of New York on August 7, deals a blow to the SEC’s strategy of seeking large disgorgement penalties in cases based solely on registration violations.
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Aug 13, 2024 | 
mondaq.com | Gary DeWaal |Alexander Kim |Daniel Davis
In a setback to the Securities and Exchange Commission's
(SEC) crypto enforcement efforts, a federal court has denied the
agency's request for disgorgement of profits in its case
against Ripple Labs. The ruling, issued by Judge Analisa Torres of the
US District Court for the Southern District of New York on August
7, deals a blow to the SEC's strategy of seeking large
disgorgement penalties in cases based solely on registration
violations.
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Aug 12, 2024 | 
lexology.com | Daniel Davis |Gary DeWaal |Alexander Kim
In a setback to the Securities and Exchange Commission’s (SEC) crypto enforcement efforts, a federal court has denied the agency’s request for disgorgement of profits in its case against Ripple Labs. The ruling, issued by Judge Analisa Torres of the US District Court for the Southern District of New York on August 7, deals a blow to the SEC’s strategy of seeking large disgorgement penalties in cases based solely on registration violations.
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Aug 5, 2024 | 
jdsupra.com | Gary DeWaal |Alexander Kim
Two artists have filed a lawsuit against the Securities and Exchange Commission (SEC), contesting the agency’s assertion of authority over non-fungible tokens (NFTs). Jonathan Mann, a musician renowned for his daily songwriting, and Brian L. Frye, a conceptual artist and law professor, are seeking declaratory judgments that their planned NFT projects do not constitute securities offerings.
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Aug 5, 2024 | 
mondaq.com | Alexander Kim |Gary DeWaal
Two artists have filed a lawsuit against the Securities and Exchange
Commission (SEC), contesting the agency's assertion of
authority over non-fungible tokens (NFTs). Jonathan Mann, a
musician renowned for his daily songwriting, and Brian L. Frye, a
conceptual artist and law professor, are seeking declaratory
judgments that their planned NFT projects do not constitute
securities offerings.
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Jul 10, 2024 | 
jdsupra.com | Daniel Davis |Gary DeWaal |Alexander Kim
In a victory for the Commodity Futures Trading Commission (CFTC), a federal court has granted summary judgment in favor of the agency in its case against Sam Ikkurty and his company Ikkurty Capital LLC. The ruling, issued by Judge Mary M. Rowland of the US District Court for the Northern District of Illinois on July 1, 2024, affirms the CFTC’s broad authority to combat fraud in cryptocurrency markets and explicitly declares Ether to be a commodity subject to CFTC oversight.
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Jul 10, 2024 | 
mondaq.com | Daniel Davis |Gary DeWaal |Alexander Kim
In a victory for the Commodity Futures Trading Commission
(CFTC), a federal court has granted summary judgment in favor of
the agency in its case against Sam Ikkurty and his company Ikkurty
Capital LLC. The ruling, issued by Judge Mary M. Rowland of the US
District Court for the Northern District of Illinois on July 1,
2024, affirms the CFTC's broad authority to combat fraud in
cryptocurrency markets and explicitly declares Ether to be a
commodity subject to CFTC oversight.
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Jul 4, 2024 | 
mondaq.com | Gary DeWaal |Alexander Kim |Daniel Davis
In a significant escalation of its crypto enforcement efforts,
the Securities and Exchange Commission (SEC) has filed charges
against Consensys Software Inc., the developer of the popular
MetaMask crypto wallet and suite of services. The complaint, filed
on June 28, alleges that Consensys has operated and continues to
operate as an unregistered broker and has engaged and continues to
engage in the unregistered offer and sale of securities through two
MetaMask staking programs.
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Jul 3, 2024 | 
jdsupra.com | Daniel Davis |Gary DeWaal |Alexander Kim
In a significant escalation of its crypto enforcement efforts, the Securities and Exchange Commission (SEC) has filed charges against Consensys Software Inc., the developer of the popular MetaMask crypto wallet and suite of services. The complaint, filed on June 28, alleges that Consensys has operated and continues to operate as an unregistered broker and has engaged and continues to engage in the unregistered offer and sale of securities through two MetaMask staking programs.
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Apr 24, 2024 | 
mondaq.com | Farzad F. Damania |Ryan Lilley |Daniel Davis |Gary DeWaal
By Farzad Damania, Ryan Lilley
On April 4, the SEC issued an order staying the implementation of the
recently finalized climate disclosure rules (Final Rules) in
response to the consolidated legal challenges in the US Court of
Appeals for the Eighth Circuit.
