Bitnomial, a Crypto exchange sued the United States Securities and Exchange Commission and its five commissioners, accusing them of “overextending its jurisdiction over digital assets” by claiming that XRP is a security.
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Bitnomial, a Crypto exchange sued the United States Securities and Exchange Commission and its five commissioners, accusing them of “overextending its jurisdiction over digital assets” by claiming that XRP is a security.
Bitnomial also claimed in a suit filed in an Illinois federal court on Oct 10 that XRP XRP$0.5388 is already regulated as a commodity, and the SEC “asserts jurisdiction over a product that is already regulated by and subject to the exclusive jurisdiction of the Commodity Futures Trading Commission.”
The exchange added; “In doing so, the SEC inappropriately duplicates and compounds the regulatory burden on Bitnomial.”
The exchange stated that the SEC reached out, claiming that XRP futures are considered securities and mandated Bitnomial to register as a securities exchange prior to listing the products.
Bitnomial said it “cannot possibly comply” with the legal requirements to list XRP futures because the token’s issuer, Ripple Labs, must register it as a security, which it hasn’t.
“The SEC has effectively blocked Bitnomial from listing XRP futures,” it claimed.
CattleProof’s “Verified”, a Decentralized cow verification service has become the United States Department of Agriculture’s first blockchain-based Process Verified Program.
CattleProof, a company located in Wyoming, employs a decentralized digital ledger to document details about individual cows. Their technology integrates data from electronic identification tags attached to each animal with updates regarding their condition, location, and other characteristics on an unchangeable blockchain record.
According to a company post, CattleProof now has the distinction of being the first US firm to receive USDA approval as a Process Verified Program (PVP) for putting cows on the blockchain.
Stripe, a leading payments provider, saw users from 70 countries embrace its newly launched stablecoin payment option on the first day, indicating a strong global demand for alternative payment solutions. Stripe was the first major payment provider to adopt Bitcoin in 2014.
However, the company reversed this decision in 2018, citing slow confirmation times and high fees as reasons for abandoning Bitcoin as a payment method. On Oct. 9, Stripe introduced USD Coin stablecoin payment options for its users after years of planning. In 2021, three years after discontinuing BTC payments, Stripe hired a new blockchain team to work on various aspects including web/mobile UIs, backend, payments, and identity systems.