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With the lawsuit against cryptocurrency trading platform Kraken becoming the newest instance of the United States Securities and Exchange Commission (SEC) exercising its regulatory enforcement in the cryptocurrency industry, a legal expert has observed a curious detail – XRP was not there. Specifically, Jeremy Hogan, a lawyer who has kept a close eye on the SEC’s case against blockchain company Ripple, accused of illegally selling the XRP token as unregistered securities , noted that XRP was missing from the list of alleged securities in the lawsuit text he shared in an X post on November 21. Guess which crypto is NOT included on the list of alleged securities ? pic.twitter.com/2qWcDwNt9A — Jeremy Hogan (@attorneyjeremy1) November 20, 2023 Indeed, the listed cryptocurrencies included Cardano (ADA), Axie Infinity (AXS), Algorand (ALGO), Cosmos Hub (ATOM), Chiliz (CHZ), COTI (COTI), Dash (DASH), Filecoin (FIL), Flow (FLOW), Internet Computer (ICP), Decentraland (MANA...

Hong Kong’s Securities and Futures Commission (SFC), the independent statutory body tasked with regulating the securities and futures markets, has released two circulars aimed at overseeing the token ization of digital assets. These circulars provide guidance for intermediaries engaged in tokenized securities activities and delineate the criteria for tokenizing investment products authorized by the SFC. Retaining responsibility In the announcement dated Nov. 2, the SFC states that when intermediaries, such as fund managers overseeing token ized funds, issue or have substantial involvement in the issuance of Tokenized Securities they intend to handle or advise on, they retain responsibility for the overall management of the token ization process, even if they outsource components to third-party vendors or service providers. The circular also states that Virtual Asset Trading Platform Operators (VATPs) are mandated to establish an SFC-approved compensation arrangement to ...

In January, lawyer John Deaton persuaded the Judge in the SEC vs LBRY case that secondary LBC token sales don’t constitute a securities offering. Ripple may be holding its breath a bit longer after a United States District Judge refused to rule on if the secondary sale of LBRY Credits (LBC) constitutes a security. On July 11, New Hampshire District Court Judge Paul Barbadoro made the ruling in the case the United States Securities and Exchange Commission (SEC) brought against the decentralized content platform LBRY. The ruling may have offered legal precedent to fellow District Court Judge Analisa Torres, who is set to make a decision on the SEC’s case against Ripple in the coming months. In his ruling, Judge Barbadoro said: “Accordingly, I take no position on whether the registration requirement applies to secondary market offerings of LBC.” A secondary market is where traders buy and sell securities, while a primary market involves trading from the company issuing the security direc...