Ripple CEO Brad Garlinghouse cautions that if the SEC's appeal succeeds, US crypto firms may relocate offshore. The appeal addresses the requirement of an explicit "investment contract" under the Securities Act, highlighting the industry's regulatory challenges.
Ripple proposes a $10 million fine to settle its lawsuit with the SEC, countering the latter's request for almost $2 billion in penalties. Ripple's lawyers argue against the SEC's calculation error and injunction request, highlighting a lack of future violation risks and policy adjustments made by Ripple.
Terraform Labs and CEO Do Kwon were penalized $5.2B by the SEC for misleading crypto investors, violating the Securities Act by selling unregistered crypto assets.
DraftKings shuts down its NFT business following a federal ruling that NFTs could be securities under the Securities Act and Exchange Act.
