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SEC Files Amended Suit against Justin Sun and ‘Alter Ego’ Firms

The SEC has filed an amended lawsuit against Tron founder Justin Sun, claiming that he traveled extensively throughout the US and took actions directed towards the country. The SEC argues that this gives them enough "personal jurisdiction" over Sun, Tron, and two other businesses linked to him. The amended filing also alleges that Sun spent at least 380 days in the country between 2017 and 2019 on business trips representing the Tron Foundation and his alter ego firms. Sun had previously sought to dismiss the SEC's original lawsuit in March, but the allegations remain unchanged.

SEC breaks from past policy guidelines in Uniswap crackdown

The U.S. SEC Wells notice against Uniswap raises questions about consistency in policy enforcement.
SEC breaks from past policy guidelines in Uniswap crackdown

SEC seeks to increase resources related to encryption enforcement review in fiscal year 2025 budget

the US Securities and Exchange Commission (SEC) has requested a budget increase for the 2025 fiscal year, with plans to expand its enforcement and examination division by adding more than 50 new positions. Cryptocurrency is a priority, and additional resources will strengthen the department's ability to respond to critical and constantly changing risks, such as those related to key market infrastructure resilience, network and information security, and risks related to cryptocurrency and emerging technologies. Additionally, the SEC has requested an additional position for its Office of Investor Education, which will primarily focus on handling issues and complaints related to fraud involving securities related to cryptocurrency assets.

Federal Judge Rules SEC Must Pay Legal Costs for Crypto Company After "Gross Abuse of Power"

A federal judge has ordered the U.S. Securities and Exchange Commission (SEC) to pay legal costs for DEBT Box, a Utah-based crypto company, after finding that the regulator had committed a "gross abuse of power" in its efforts to secure a temporary restraining order against the company. The SEC had sued DEBT Box last year, alleging fraud and securing a temporary asset freeze and restraining order against the company. However, Chief Judge Robert Shelby found that the SEC's attorneys had misled the court both in applying for the temporary restraining order and afterward, and ordered the regulator to pay defendants' and receivers' fees as part of the court's sanctions. The SEC is currently reviewing the decision.

Nigeria SEC seeks to increase cryptocurrency exchange registration fees

The Nigerian Securities and Exchange Commission (SEC) has proposed revising the rules for platforms that provide cryptocurrency services. The committee suggests increasing the registration fee for cryptocurrency exchanges from $18,620 (30 million naira) to $93,000 (1.5 billion naira).

TD Cowen: SEC chairman will continue to pursue cryptocurrency cases after winning Coinbase insider trading case

According to a report from investment bank TDCowen, Gary Gensler, the chairman of the US Securities and Exchange Commission, is expected to continue bringing cryptocurrency cases after winning the insider trading lawsuit against Coinbase. Last week, the Western District Court in Washington made a favorable ruling for the SEC in an insider trading case. Therefore, it is expected that Gensler will continue to file lawsuits for at least the next two years until the end of his term in June 2026.

U.S. SEC Commissioner: Regulators are considering Ethereum spot ETFs

Hester Peirce, a commissioner of the U.S. Securities and Exchange Commission (SEC), revealed at the ETH Denver event that the SEC is considering an Ethereum spot ETF, but currently "there is no information that can be disclosed." In addition, Hester Peirce believes that some of the choices made by the SEC are very strange, because when regulatory agencies drive entities out of the United States, they are actually pushing them beyond the control of U.S. regulatory agencies.

U.S. SEC accuses founder of online encryption course of committing fraud against students

The US SEC has accused 51-year-old founder of the American Bitcoin Academy, Brian Sewell, and his company, Rockwell Capital Management, of defrauding students. The defendants claimed that their hedge fund would use complex tools such as artificial intelligence to generate returns. This fraudulent scheme resulted in 15 students losing $1.2 million.

The US SEC responded to "Ripple rejected its enforcement motion" and asked Ripple to provide relevant evidence

According to CoinGape's report, the US Securities and Exchange Commission responded to "Ripple's refusal of its motion to compel," stating that its request for Ripple to provide relevant financial statements was procedurally correct. The SEC still requires Ripple to provide two years of audited financial statements, contracts for the sale or transfer of XRP to "non-employee trading counterparties" after the lawsuit was filed, and detailed amounts of "XRP institutional sales proceeds" received after the lawsuit was filed. In addition, the US Securities and Exchange Commission is seeking to penalize Ripple in the XRP lawsuit.

A U.S. federal judge expressed doubts about the SEC's claims. If he supports the SEC, he may inadvertently expand the definition of securities to collectibles and other fields.

On Wednesday local time, US District Judge Katherine Polk Failla presided over a hearing on Coinbase's request to dismiss the SEC civil lawsuit. During the five-hour hearing, Failla seemed skeptical of the SEC's views, telling the SEC's lawyers in court, "I want to know how your standards don't involve the collectibles market or commodities. I'm concerned your argument is too broad." A federal judge expressed doubts about the Securities and Exchange Commission's (SEC) claims, noting that supporting the SEC's claims could inadvertently expand the definition of securities to areas such as collectibles that are not within the SEC's regulatory scope. At the end of Wednesday's hearing, Failla did not make a ruling, but is expected to do so in the coming months. After the hearing, Citigroup raised its target price for Coinbase from $90 to $151.