Law & Policy

What happened in the crypto industry last week?

1/ A court required Ripple Labs to provide the SEC with financial statements for 2022-2023, despite Ripple's claim of confidentiality and the regulator's request being untimely. The SEC requested the reports in early January 2024.

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3/ Paradigm filed an amicus brief in support of Kalshi's lawsuit against the CFTC over the Commission's refusal to approve election outcome predictions listings for Congress this year, specifically regarding which party controls each chamber.

4/ DCG protested Genesis bankruptcy plan. 
5/ SEC postponed review of Invesco and Galaxy Digital's Ethereum ETF application.
6/ Ex-CFO of Terraform Labs extradited to South Korea.

7/ Montenegrin court approved Do Kwon's appeal.
8/ China introduced new restrictions for mining companies.
9/ South Korea's regulator to consult with Gary Gensler on spot Bitcoin ETFs.
10/ Uzbekistan's regulator sues Binance.

2/ The SEC adopted new rules regarding liquidity providers, redefining the terms "dealer" and "government securities dealer." The rules apply to market participants who play a significant role in providing liquidity, stating that investors providing over $50 million to automated market makers fall under SEC regulation.