$XRPUSD and Shiba Inu Coin more Great Legal News! Cheers!
Coinbase v. SEC: Crypto Exchange Makes Big Step Toward Victory
News
Sun, 08/13/2023 - 13:42
Gamza Khanzadaev
Crypto giant Coinbase gains momentum as legal scholars challenge SEC's argument
Cover image via stock.adobe.com
Read U.TODAY on
Google News
Renowned legal expert and advocate for digital assets James "MetaLawMan" Murphy has shared his insights on the recent progress in the legal feud between the SEC and crypto exchange giant Coinbase. The contentious battle, which centers around the classification of crypto tokens, has witnessed a pivotal moment with a compelling amicus brief presented by six esteemed securities law scholars.
Related
Unending Crypto Oversight Predicted by Former SEC Official
Legal scholars hailing from esteemed institutions such as Yale, the University of Chicago, UCLA, Fordham, Boston University and Widener have collaboratively submitted a potent amicus brief. This brief dismantles the SEC's "investment contract" proposition and tactfully traces the historical evolution of the term, dissecting its meaning both before and after the enactment of the federal Securities Act in 1933.
The scholars' analysis culminates in three resolute conclusions. Firstly, by 1933, the interpretation of an "investment contract" had congealed in state courts, denoting a contractual agreement entitling investors to a proportionate share of the seller's ensuing income, profits, or assets. Secondly, post the landmark Howey decision in 1946, a consistent thread linking investment contracts remains — an investor's involvement necessitates an enduring contractual claim on the enterprise's income, profits, or assets.
Lastly, the Supreme Court's identification of every "investment contract" invariably hinges on a contractual commitment that ensures an enduring stake within the enterprise.
Murphy enthusiastically champions this amicus brief, asserting that it could potentially prove to be the decisive blow to the SEC's contention that crypto tokens traded on secondary markets inherently constitute investment contracts. With this well-crafted legal argument, Coinbase appears to be making significant strides toward emerging victorious in its ongoing legal bout with the SEC.
About the author
Gamza Khanzadaev
Financial analyst, trader and crypto enthusiast.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management.
He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.
News
08/14/2023 - 15:14
SHIB on Verge of Golden Cross, XRP Briefly Jumps to $50 on Gemini, Cardano Successfully Mints BTC: Crypto News Digest by U.Today
Valeria Blokhina
News
08/14/2023 - 14:45
SHIB Trillionaire Moves Whopping 750 Billion Shiba Inu Tokens, Here's What's Happening
Gamza Khanzadaev
News
08/14/2023 - 14:30
Hedera (HBAR) 17% Spike Amid Falling Market, Here's What's Behind It
Tomiwabold Olajide
Like
utoday.en
Follow
@utoday_en
Subscribe
utoday
Join
@utoday_en
SHIB on Verge of Golden Cross, XRP Briefly Jumps to $50 on Gemini, Cardano Successfully Mints BTC: Crypto News Digest by U.Today
News
Mon, 08/14/2023 - 15:14
Valeria Blokhina
The latest crypto news and updates over the weekend in the U.Today news digest!
Cover image via www.freepik.com
Read U.TODAY on
Google News
Contents
Shiba Inu (SHIB) is on verge of golden cross
XRP briefly skyrockets to $50 on Gemini after listing
Cardano successfully mints BTC as big phase unfurled by network
Shibarium release countdown: Top exchange teases Shiba Inu token listing
U.Today provides you with an overview of the past weekend's crypto events with the top four news stories.
Shiba Inu (SHIB) is on verge of golden cross
After adding 28% to its price over the last eight days, Shiba Inu found itself on the verge of a "golden cross" pattern. This has historically been a positive sign, pointing to the possible beginning of a strong upward trend. The rise of Shiba Inu was backed by a substantial increase in trading volume, as well as increased liquidity and market depth, which gave the meme coin the much-needed momentum. Together, these factors have opened the door for a potential golden cross, which could attract a new wave of investors and traders looking to capitalize on a possible upward trend.
Related
Shiba Inu (SHIB) Rockets to Record Highs Ahead of Thrilling Shibarium Debut
XRP briefly skyrockets to $50 on Gemini after listing
In an unexpected turn of events, XRP saw its price briefly surging to $50 on Gemini shortly after being listed on the exchange. However, the sudden price jump was just a glitch in Gemini's system, which could be caused by a range of factors: from order book imbalances to technical issues like latency and user interface errors. As previously reported by U.Today, XRP was added to the exchange on Thursday after multiple teasing posts on X social media platform. From now on, Gemini's customers can trade XRP for multiple currency pairs, including USD, GBP, EUR and more.
Cardano successfully mints BTC as big phase unfurled by network
On Aug. 8, Cardano saw the mainnet launch of the anetaBTC protocol, which brings on-chain wrapped BTC to blockchains. This marks a major milestone for Cardano, as it brings Bitcoin to the Cardano ecosystem, allowing users to effortlessly interact with both coins. This is not the only good news for Cardano enthusiasts; according to anetaBTC's official X account, on Aug. 12, Bitcoin was successfully minted on the Cardano mainnet. Per the post, the amount minted equals 1.706 cBTC, with cBTC standing for Bitcoin wrapped through the anetaBTC protocol. In total, 6.19 cBTC have been minted on the Cardano mainnet so far.
Shibarium release countdown: Top exchange teases Shiba Inu token listing
In a recent X post, KuCoin crypto exchange hinted at the possibility of listing Shiba Inu ecosystem tokens. The post shows a picture resembling a calendar, with a Shiba Inu dog placed under the date of Aug. 12. The community also spotted an icon of a dog bone positioned under the dates of Aug. 15-16, which coincides with the release window of highly anticipated Shibarium Layer 2 solution. This made SHIB fans suggest that KuCoin could be set to list the BONE token in conjunction with the Shibarium launch. However, the cells referring to Aug. 13 and 14 remained empty, which raised another round of speculation. Some argued that the exchange may also add LEASH token to its list of supported cryptos on one of the remaining dates.
About the author
Valeria Blokhina
Valeria is the community manager at U.Today. She is a crypto enthusiast and believes that cryptocurrency is the future of finance. Currently, Valeria covers the latest news in the world of crypto and blockchain
News
08/14/2023 - 14:45
SHIB Trillionaire Moves Whopping 750 Billion Shiba Inu Tokens, Here's What's Happening
Gamza Khanzadaev
News
08/14/2023 - 14:30
Hedera (HBAR) 17% Spike Amid Falling Market, Here's What's Behind It
Tomiwabold Olajide
News
08/14/2023 - 14:05
Coinbase Launches Trading Services in Canada
Godfrey Benjamin
Follow us and get all crypto news 24/7
Disclaimer: The opinions expressed here are not investment advice; they are provided for informational purposes only. The opinions expressed by our writers are their own and do not represent the views of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. We do not recommend investing money you cannot afford to lose.
U.Today website is operated by Golden Axis Advertising L.L.C Level 41, Emirates Tower, Sheikh Zayed Road, Dubai, UAE
Protected by copyright laws of the international treaties. This website may only be used pursuant to the subscription agreement and any reproduction, copying, or redistribution (electronic or otherwise, including on the World Wide Web), in whole or in part, is strictly prohibited without the express written permission of Golden Axis Advertising L.L.C
© 2017-2022 Golden Axis Advertising L.L.C. All rights reserved.
Terms and conditionsPrivacy Policy
News 
Market Data 
Discover 
