Democrats Criticize SEC After It Drops Ripple Lawsuit

Published at 2026-01-16 19:31:23

Democratic lawmakers have stepped up criticism of the Securities and Exchange Commission after it quietly dropped its high-profile lawsuit against Ripple and several associated firms. The case, which helped shape market views on whether XRP and similar tokens qualify as securities, had been closely watched by crypto companies, investors and legal observers for years. Critics in Congress say the sudden withdrawal demands answers about the agency’s enforcement process and decision-making, and some are calling for hearings or an inspector-general review. The episode could accelerate legislative pressure for clearer crypto rules and leave market participants looking for a formal SEC explanation to restore regulatory certainty and investor confidence.

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Circle’s CEO defended the company’s authority to freeze USDC after the $270 million Drift Protocol exploit and urged faster legal frameworks to enable rapid, lawful responses to crypto hacks.

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Published at 2026-04-10 12:45:08

Russia to Ban Cash-for-Crypto Trades, Require Bank-Mediated Transactions

Russia will prohibit cash-for-crypto transactions and require trades to go through cashless, bank-mediated channels, a senior central bank official said. The measure is meant to increase oversight of crypto-related flows and clamp down on informal peer-to-peer markets.

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Published at 2026-04-10 11:30:09

Kraken's Federal Reserve master account raises U.S. financial risk concerns

Kraken has secured a master account with the Federal Reserve, but the risk-mitigation conditions tied to the account — and similar approvals that may follow — could introduce new vulnerabilities in the U.S. financial system.

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Published at 2026-04-10 10:15:08

HSBC, Standard Chartered Secure Hong Kong's First Stablecoin Licenses

The Hong Kong Monetary Authority has granted HSBC and Standard Chartered Group the first licenses under the territory’s Stablecoins Ordinance, which took effect in August 2025. The approvals mark a regulatory milestone that could accelerate bank-led stablecoin activity in the region.

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Published at 2026-04-10 09:30:09

Japan Reclassifies Crypto as Financial Instruments, Tightens Rules

Japan’s cabinet has reclassified cryptocurrencies as financial instruments and will introduce bans on insider trading plus annual disclosure requirements for token issuers. The measures aim to strengthen investor protection and bring crypto closer to regulated markets.