• Judge rules Ripple’s XRP programmatic sales ‘not securities’; XRP up 28%
• Binance appoints new general counsel amid intensifying legal troubles
• Crypto crime is down 65% in 2023, though ransomware is still prevalent
Judge Analisa Torres has ruled that Ripple’s Programmatic sales and XRP distributions did not constitute securities sales, though institutional sales could meet that definition. XRP surged 28% following the ruling.
Binance Legal Troubles
Binance has appointed a new general counsel as it faces intensifying legal troubles. Rumors have arisen that senior executives are resigning due to ongoing regulatory challenges, which CZ denies.
Crypto Crime Down
Cryptocurrency crime is down 65% in 2023 compared to prior years, likely due to stricter regulations and enforcement from government agencies. Despite this trend, ransomware remains a prevalent issue for digital assets.
IRS Investigating Crypto Exodus
The IRS is taking steps to investigate the American crypto exodus to Puerto Rico due to its favorable tax policies for digital asset holders. This move could help further legitimize cryptocurrency use within the US by making sure users are compliant with their taxes and payment of penalties if necessary.
Bullish Market Sentiment
Overall market sentiment appears bullish after these recent events, with Bitcoin breaking the $31k barrier and Ethereum reaching over $2000. These developments indicate a continued surge in prices across the board as more people become aware of the potential behind cryptocurrencies and blockchain technology.