Yalla Crypto: Rain ADGM's Regulatory Milestone, Ripple Appeal Outlook, Binance's Legal Move, Worldcoin's WLD Token, Celsius Settlements
GLOBAL NEWS
Crypto Lawyer: Ripple Appeal Won't Derail XRP! Expect Two-Year Timeline
In response to concerns that an appeal from the U.S. Securities and Exchange Commission (SEC) in the Ripple Labs case could adversely affect XRP, prominent crypto lawyer John E. Deaton has confidently stated that "an appeal is not even close to a setback." Deaton, the founder of Crypto Law, elaborated on his belief, explaining that if an appeal is filed, it would likely take around two years for the Second Circuit Court of Appeals to issue a decision. Until then, Deaton emphasizes that the "Torres Decision" remains the law in the Second Circuit.
Ripple CEO Slams SEC's Crypto Jurisdiction, Calls for Retail Protection
Ripple CEO Brad Garlinghouse took to Twitter to respond to the ongoing legal battle between Ripple Labs and the U.S. Securities and Exchange Commission (SEC). Garlinghouse accused the SEC of creating a mess by claiming authority over the crypto industry without legal jurisdiction, leaving consumers in distress while the agency holds press conferences. His comments come in the wake of SEC lawyers' plans to appeal last week's split decision against Ripple Labs, which they contend was "wrongly decided."?
Binance to File Motion for Dismissal of CFTC Complaint
Binance entities and its CEO, Changpeng Zhao, are set to submit a motion to dismiss the complaint filed by the CFTC in a Chicago federal court. The allegations include running an illegal digital asset derivatives exchange in the U.S. Former Chief Compliance Officer, Samuel Lim, also plans to seek dismissal of the lawsuit.
Controversial Crypto Project Worldcoin Launches WLD Token
Worldcoin, co-founded by Sam Altman, unveils its WLD token, set to be distributed to over two million individuals worldwide. The project's aim is to help users verify their identity online through iris-scanning orbs. Despite being divisive, with most participants from the Global South, the distribution of the WLD token marks a significant milestone for the project. Excitement surrounds the appearance of these orbs in various cities worldwide.
领英推荐
Celsius Network Reaches Settlements to Facilitate Customer Asset Returns
Crypto lender Celsius Network has reportedly reached agreements that may pave the way for court approval to return customer assets. The settlements aim to address fraud allegations and could increase recoveries by 5%. A significant number of claims seeking $78 billion are potentially set to be resolved, benefitting around 30,000 customers. The court is expected to grant approval for the settlements during a hearing scheduled for August 10.
U.S. Department of Justice Strengthens Crypto Crime Pursuit
To enhance efforts against cryptocurrency-related crimes, the U.S. Department of Justice (DOJ) is integrating the National Cryptocurrency Enforcement Team (NCET) into the Computer Crime and Intellectual Property Section (CCIPS). This strategic move signifies a dedicated focus on combating digital offenses. Nicole Argentieri, the DOJ's principal deputy assistant attorney general, stated that the merger aims to take NCET to new heights by providing the necessary resources for even greater success. The initiative commences this week, bolstering the DOJ's commitment to tackling crypto-related criminal activities.
RAIN NEWS
Rain granted Financial Services Permission by Abu Dhabi Global Market’s Financial Services Regulatory Authority
We are proud to announce that Rain Trading Limited (Rain ADGM)? is the first virtual assets brokerage to receive a Financial Services Permission (FSP) from ADGM’s Financial Services Regulatory Authority (FSRA) to operate a regulated virtual assets brokerage and custody service. Our FSP unlocks a new era for virtual assets adoption in the region. Through the FSP, Rain ADGM will be able to offer institutional and retail clients in the UAE the ability to buy, sell, and store virtual assets through our platform.?
Spotlight article:
Rain granted Financial Services Permission by Abu Dhabi Global Market’s Financial Services Regulatory Authority