Connect with us

Published

on

On Oct. 3, United States District Court Judge Analisa Torres rejected the U.S. Securities and Exchange Commission’s (SEC’s) motion to appeal its loss against Ripple Labs, the company behind the XRP (XRP) cryptocurrency. Torres denied the SEC’s motion, claiming the regulator failed to meet the burden to show that there were controlling questions of law or substantial grounds for differences of opinion on the matter. 

The regulator appealed against the court’s July decision declaring that retail sales of the XRP token did not meet the legal definition of a security. The SEC argued there was “substantial ground for differences of opinion” on the laws at hand.

Immediately after the SEC’s appeal was rejected, the XRP price surged nearly 6%. However, the decision isn’t an outright loss for the regulator, as Torres scheduled a trial for April 23, 2024, to address the remaining issues in the case.

Crypto lawyers are seemingly divided over the significance of the court order. While many lawyers and commentators chalked the decision up as a substantive win for Ripple in its case against the regulator, other legal experts have urged the public to temper their enthusiasm. Bill Hughes, a lawyer at blockchain firm ConsenSys, told Cointelegraph that the rejection of the SEC’s appeal was something he’d expected, explaining that it’s not typical for such an appeal to make it through during this part of a trial. “The court says that [Torres’] ruling is limited to this case. Frankly, that’s fine for the SEC if they don’t mind one case not telling you very much about the next,” Hughes explained.

Keeping up with the SBF trial

If you are having a hard time keeping up-to-speed with the ongoing Sam Bankman-Fried trial, Cointelegraph has got you covered. Our reporters are on the ground in New York following every day of the trial. And there is much to recap with, from the defense’s insistence on the role of Binance in the FTX’s collapse to in-depth details about how Bankman-Fried’s former crypto empire ended up with an $8 billion hole in customer assets.

Continue reading

Hong Kong forms crypto task force

The Hong Kong Police Force and the Securities and Futures Commission (SFC) have set up a crypto-focused working group to deal with illicit crypto exchange activities. The working group aims to enhance monitoring and the investigation of illegal activities carried out by virtual asset trading platforms, share information on suspicious activities, assess risks of dubious exchanges and collaborate on investigations. 

Days before the meeting, 11 people were detained for questioning over their possible role in the JPEX scandal, in which the SFC alleged the firm had been promoting its services in the region without a license.

Continue reading

Canada comes up with the rules for stablecoins

The Canadian Securities Administrators (CSA) has guided exchanges and cryptocurrency issuers on its interim approach to what it calls value-referenced crypto assets, with a particular focus on stablecoins. The CSA reaffirmed that stablecoins “may constitute securities and/or derivatives,” which Canadian crypto exchanges are prohibited from trading. However, if issuers maintain an appropriate reserve of assets with a qualified custodian and crypto exchanges offering stablecoins make “certain information related to governance, operations, and reserve of assets publicly available,” then the CSA could allow those assets to be traded.

Continue reading

U.K. adds 143 crypto companies to its warning list

The United Kingdom’s financial markets regulator, The Financial Conduct Authority (FCA), added 143 crypto exchanges to its warning list of non-authorized firms that customers “should avoid.” Among them were major exchanges, such as Huobi-owned HTX and KuCoin. The warning list doesn’t reveal much apart from the statement, “You should avoid dealing with this firm.” However, failure to comply could result in criminal charges. 

Continue reading

Continue Reading

Politics

Richard Tice defends Reform ban on local newspaper in free speech row

Published

on

By

Richard Tice defends Reform ban on local newspaper in free speech row

Reform UK’s deputy leader has defended a ban on a local newspaper handed down by a council leader in a free speech row.

Nottinghamshire County Council leader Mick Barton banned its Reform councillors, who hold 41 of 66 seats, from speaking to journalists from the Nottingham Post, its digital site Nottinghamshire Live and its local democracy reporters on Tuesday.

This came after the newspaper published an article reporting on two Reform councillors allegedly saying they could face suspension if they did not back Mr Barton’s preferred structure for the reorganisation of the council.

Richard Tice, Reform’s deputy leader, has defended the ban, telling Sky News’ presenter Jonathan Samuels that Nottinghamshire Live “distorts and completely acts in an irresponsible way” and therefore councillors were “entitled to say ‘we’re going to talk to other parts of the media, not yourselves'”.

When challenged that this was going against the principle of democracy, Reform UK’s deputy leader replied: “That’s the whole point of a democracy. You pick and choose who you speak to, and sometimes you speak to friends, sometimes you don’t.

“But it is equally that a media organisation does have a responsibility also to present some things in a sensible way, presenting both sides of a debate or an argument. And that was the issue.”

Natalie Fahy, senior editor at Nottinghamshire Live, told Sky News she was “absolutely gobsmacked” by Mr Tice’s comments, as he “knows absolutely nothing about what the Nottingham Post publishes day in day out”.

More on Reform Uk

She said: “As a newspaper regulated by IPSO (Independent Press Standards Organisation), we are actually allowed to be biased if we want to be, but we try to maintain an overall balance on our coverage (…) We’ve not distorted any facts whatsoever.”

Mr Tice said he wants to be held to account by people "who are not completely distorted and biased"
Image:
Mr Tice said he wants to be held to account by people “who are not completely distorted and biased”

Mr Tice was asked whether he only wanted to be held to account by people that he likes and agrees with. He replied: “I want to be held to account by people who are going to be rational, sensible and not completely distorted and biased.”

“That’s not a democratic society, that’s not free press. Sometimes there is going to be negative stuff, and sometimes we will be going to have to criticise stuff. It’s very dangerous what he (Mr Tice) said – you can’t just have a positive, unquestioning press,” Ms Fahy warned.

She added that the Nottingham Post was not an anti-Reform publication and that its journalists appreciate that many of their readers vote for Reform. “We just want to find out on behalf of our readers what they voted for,” Ms Fahy said.

‘Rehearsal for Nigel Farage’s government’

Ms Fahy, who alerted Mr Tice to the ban before he spoke to Sky News on Friday, urged Nigel Farage to get involved.

“This is a rehearsal for Nigel Farage’s government – he needs to step in and say that this is not acceptable behaviour if he wants to be taken seriously,” the senior editor warned.

But Mr Tice indicated that Mr Farage would not wade into the row, saying: “It’s a local row and I’m sure they’ll sort it out.”

The ban might not end with the Nottingham Post, as Mr Barton, the Nottinghamshire County Council leader, warned his party would also “not be engaging with any other media outlet we consider to be consistently misrepresenting our politics, actions, or intentions”.

Nigel Farage
Image:
Nigel Farage

As part of the ban, the authority will also stop sending press releases to the outlet and won’t invite them to council events, although it cannot prevent them from attending public meetings.

Ms Fahy published an opinion piece after the ban was announced, telling readers: “Reform UK makes huge noises about respecting free speech, transparency, honesty and being straight-talking. This boycott flies in the face of all of that. When the press is not welcome, you know democracy itself is in danger.

“If we’re heading for a Reform government, you’ll see this echoed on the national stage. And maybe at some point, people will look back and wonder where it all started. If we don’t fight back against this authoritarian edict, we’re heading down a very dark and dangerous path for everyone in this country.

“Grow up Mick Barton, and start accepting a free press is there to hold you and your councillors to account. You’ve got my number and I am waiting for your call.”

‘Not just press being shut out’

The leader of the opposition at Nottinghamshire County Council, Conservative councillor Sam Smith, said on X: “The free press play a key role in keeping residents informed of actions being taken by decision makers and in return the press express the views of residents to the politicians and public in publishing balanced articles.

“As a leader of the county council, I welcomed that scrutiny. Sometimes it was tough reading, but it helped ensure my team and I were always focused on delivering on the priorities of local residents.

“It’s not just the press Reform are shutting out in Nottinghamshire. It’s the voice and views of residents.”

Mr Barton said the decision had not been made “lightly”, adding: “It is not about silencing journalism, it is about upholding the principle that freedom of speech must be paired with responsibility and honesty.”

Continue Reading

Politics

Agentic AI project Eliza Labs sues Elon Musk’s xAI

Published

on

By

<div>Agentic AI project Eliza Labs sues Elon Musk's xAI</div>

<div>Agentic AI project Eliza Labs sues Elon Musk's xAI</div>

Eliza Labs founder Shaw Walters said that xAI demanded more licensing fees from the agentic AI platform or face possible legal action.

Continue Reading

Politics

Appeals court overturns injunction that blocked asylum seekers from Epping hotel

Published

on

By

Appeals court overturns injunction that blocked asylum seekers from Epping hotel

A temporary injunction that would have blocked asylum seekers from being housed at the Bell Hotel in Essex has been overturned at the Court of Appeal.

The Home Office and Somani Hotels, which owns the Bell Hotel in Epping, have successfully challenged a High Court ruling. Today’s hearing saw both parties win the right to appeal, before also winning the appeals themselves.

Lord Justice Bean, sitting with Lady Justice Nicola Davies and Lord Justice Cobb, quashed an earlier injunction granted to Epping Forest District Council, saying: “We allow the appeals and we set aside the injunction imposed on 19 August 2025.”

This means asylum seekers will stay in the accommodation in Essex past 12 September. There are currently 138 asylum seekers being housed at the hotel.

Lord Justice Bean delivering the ruling. Pic: PA
Image:
Lord Justice Bean delivering the ruling. Pic: PA

Last week, the initial court ruling centred on the change in use of the premises without consent from the local authority.

But after the Home Office argued its case – which involved stating it had the right to appeal – judges have backed the government’s side.

The decision avoids a precedent for other councils to appeal against asylum hotels in their areas.

Council ‘will continue the fight’

A councillor for Epping said the “battle is not over” after the Court of Appeal ruling and vowed the council would “continue the fight”.

Councillor Ken Williamson. Pic: PA
Image:
Councillor Ken Williamson. Pic: PA

Speaking outside the London court, Ken Williamson, said: “We are deeply disappointed by the outcome of today’s hearing.

“The concern and motivation of Epping Forest District Council throughout has been the wellbeing of our local residents, where we had clarity and resolution, we now have doubt and confusion.”

The council could still be granted an injunction following a full hearing of the legal claim, which is due to be heard in October.

Please use Chrome browser for a more accessible video player

Reform UK’s deputy leader Richard Tice: Epping residents should feel ‘angry and frustrated’

Reform UK leader Nigel Farage also criticised the ruling, claiming that “illegal migrants have more rights than the British people under (Keir) Starmer”.

Tory leader Kemi Badenoch echoed this in her own statement, saying: “Keir Starmer has shown that he puts the rights of illegal immigrants above the rights of British people who just want to feel safe in their towns and communities.”

She also urged Conservative councillors seeking similar injunctions against asylum hotels to “keep going” despite the ruling.

Focal point of protests

Epping Forest District Council had asked for the injunction after the Bell Hotel became the focal point of several protests and counter-protests. It claimed its owner, Somani Hotels, had breached planning rules.

Lord Justice Stephen Eyre, who gave the original High Court decision, had said that while the council had not “definitively established” that the company had breached planning rules, “the strength of the claimant’s case is such that it weighs in favour” of granting the injunction.

Anti-migration protesters in Epping in July
Image:
Anti-migration protesters in Epping in July

Regular protests have been held outside the Bell Hotel since an asylum seeker housed there was accused of sexually assaulting a 14-year-old girl in July.

Hadush Gerberslasie Kebatu, 38, denies two counts of sexual assault, one count of attempted sexual assault, one count of inciting a girl to engage in sexual activity, and one count of harassment without violence.

His trial has been taking place this week and verdicts are expected at Chelmsford Magistrates’ Court on 4 September.

A view of an England flag outside the Bell Hotel in Epping, Essex, after a temporary injunction that would have blocked asylum seekers from being housed at the Bell Hotel in Epping, Essex, was overturned at the Court of Appeal. Picture date: Friday A
Image:
A view of an England flag outside the Bell Hotel in Epping, Essex, after a temporary injunction that would have blocked asylum seekers from being housed at the Bell Hotel in Epping, Essex, was overturned at the Court of Appeal. Picture date: Friday A

After the Court of Appeal ruling, a small number of protesters gathered outside the Bell Hotel carrying England and Union flags, with police officers guarding the entrance to the hotel, which is gated off with metal fencing.

An England flag has been attached to a drainpipe outside the hotel, while England flags have also been painted onto signs and a speed camera outside the hotel.

Continue Reading

Trending