SEC

Coinbase Legal Triumph Over XRP Sparks Speculation: SEC May Hesitate on Appeals in Ripple Case The ongoing legal battle between the U.S. Securities and Exchange Commission (SEC) and Ripple, the company behind the XRP cryptocurrency, may take a new turn depending on the outcome of another case involving Coinbase, the largest crypto exchange in the U.S. Coinbase is facing a lawsuit from the SEC over its proposed lending product, which would allow users to earn interest on their crypto holdings. The SEC claims…

GM's driverless Cruise division is under investigation by both the Department of Justice (DoJ) and Securities and Exchange Commission (SEC), The Washington Post has reported. The probes follow an incident last year in which a jaywalking pedestrian was struck by a Cruise autonomous vehicle and then dragged 20 feet, worsening her injuries.At the same time, yesterday Cruise released its own third-party findings regarding the accident, which took place on October 2 and involved another vehicle (a Nissan). The company said it…

Cruise, the GM self-driving subsidiary, said Thursday that federal prosecutors and securities regulators have opened investigations into the October 2 incident that left a pedestrian stuck under and then dragged by one of its robotaxis. The probes by the Department of Justice and the Securities and Exchange Commission, which were revealed as part of an internal report conducted by law firm Quinn Emanuel Urquhart & Sullivan and released Thursday, join numerous other investigations at nearly every level of…

Autonomous vehicle operator Cruise said Thursday that federal regulators are looking into its handling of an October 2 pedestrian collision in San Francisco.“We are fully cooperating with the state and federal regulatory and enforcement agencies which have opened investigations or inquiries in connection with the incident, including the California DMV, the California Public Utilities Commission, the National Highway Traffic Safety Administration, the U.S. Department of Justice, and the U.S. Securities and Exchange…

The Securities and Exchange Commission has provided more details about how its official X account was compromised earlier this month. In , the regulator confirmed that it had been the victim of a SIM swapping attack and that its X account was not secured with multi-factor authentication (MFA) at the time it was accessed.“The SEC determined that the unauthorized party obtained control of the SEC cell phone number associated with the account in an apparent 'SIM swap' attack," it said, referring to a common scam in which…

A federal judge in Washington, D.C., on Monday pressed lawyers for Binance, the world's largest cryptocurrency exchange, to defend its request that she dismiss a high-profile case brought against it by the U.S. Securities and Exchange Commission (SEC).Binance has asked federal Judge Amy Berman Jackson to toss out a lawsuit the SEC filed alleging Binance broke its rules and committed fraud. The lawsuit is one of Binance's last major legal challenges in the U.S.Elevate Your Tech Prowess with High-Value Skill CoursesOffering…

The U.S. Securities and Exchange Commission (SEC) on Monday defended its authority to oversee certain cryptocurrency assets in court, as Binance urged a federal judge to dismiss the regulator's case against the world's largest crypto exchange.Monday's hearing over Binance's request marked the second closely-watched courtroom battle in less than a week that could help define the U.S. securities regulator's jurisdiction over the crypto sector. Last week, Coinbase and the SEC clashed over similar questions.Elevate Your Tech…

After years of a long bearish winter, many can’t wait for the bull market. The SEC decision on Bitcoin ETFs, approving the investment product, has led to a collective sigh of relief. After all, it has been years of waiting, and it is expected to play a significant part in the next bull run. Worth mentioning is the next Bitcoin halving, which is just a few months away. The combination of these factors has resulted in a venture capitalist predicting two years of Bitcoin (BTC) volatility. Meanwhile, Gala (GALA)…

Securities and Exchange Commission (SEC) Chair Gary Gensler said Wednesday that a centralized artificial intelligence (AI) market with just a handful of models that financial actors rely on could lead to a fragile financial system.   Gensler, speaking in a virtual fireside chat hosted by Public Citizen, said he expects AI to tend toward centralization, likening it to the cloud provider and search engine markets.  “Count up on the fingers of one hand how many cloud providers we have in the US, and in even…

Securities and Exchange Commission (SEC) Chair Gary Gensler is facing bipartisan political backlash after the agency’s social media account was hacked last week and falsely claimed it had approved several highly anticipated bitcoin investment funds.  While the SEC ultimately approved the exchange-traded funds (ETFs) holding bitcoin about 24 hours later, the high-profile blunder for the agency puts Gensler in a tough spot as an already unpopular figure in the cryptocurrency world and among Republican lawmakers.…