Crypto Weekly: CLARITY Setbacks, Kraken’s On-Chain Perps, and Major Market Moves

SEC Loses Bid to Regulate All Token Sales The Supreme Court delivered a decisive blow to the SEC’s sweeping enforcement strategy on June 27, 2024, ruling that not every digital asset sale qualifies as an investment contract under federal securities law. The decision immediately narrows the agency’s power to label tokens as securities and forces…

Court Stuns SEC With Crypto Ruling — Limits Agency Power The Fifth Circuit just handed the SEC a stinging defeat in its bid to expand regulatory reach over crypto. In a 2-1 decision released November 26, the appeals court blocked the agency from using a sweeping theory of liability that would have turned most crypto…

Tether’s U.S.-focused stablecoin grows over 500% in a month, but still lags main rivals Details were not provided in the source material beyond the headline. The available information indicates that Tether’s U.S.-focused stablecoin expanded by more than 500% over the past month, while still remaining behind its primary competitors in overall scale. Without additional context—such…

Coinbase Smacks Down SEC in Landmark Crypto Win Coinbase just torched an SEC enforcement order in federal court, with the Third Circuit ruling the agency overreached by demanding the exchange hand over zero-fee customer rewards data without proving its case. This precedential smackdown weakens the SEC’s grip on crypto platforms and signals regulators can’t shotgun-blast…

Robinhood CEO says companies shouldn’t get veto over stock tokens in AMC feud Robinhood’s chief executive has argued that companies should not have the power to veto the creation or distribution of stock tokens, a position that has emerged amid a dispute involving AMC. Stock tokens are digital assets designed to represent exposure to shares…

CFTC WINS: COURTS RECLASSIFY CRYPTO AS COMMODITY The Seventh Circuit just handed the Commodity Futures Trading Commission a decisive win in its long-running campaign to police crypto. By upholding the lower court’s ruling against James Donelson, the appellate panel confirmed that the CFTC has statutory authority to pursue unregistered crypto promoters under the Commodity Exchange…