There will be a lot of developments in cryptocurrency court cases in the coming months. Each ruling has the potential to have an impact on other pending cases. Here are some key cases with developments and upcoming deadlines…
1. SEC v. Ripple: Awaiting Judge Torres’ key ruling on opposition to summary judgment motion. It is uncertain whether the judge will deliberate on the issue of secondary sales of $XRP.
2. SEC v. Bittrex: (June 30) Deadline for Bittrex to file a motion to dismiss.
3. SEC v. Genesis and Gemini: (July 21) The SEC responded to Genesis and Gemini’s motion to dismiss, arguing that the “Earn Project” was not properly classified as a security.
4. SEC v. Coinbase: (August 7) Deadline for Coinbase to file a motion to dismiss.
5. SEC v. Binance: (September 21) Deadline for Binance to submit motion to dismiss; consensus order signed to protect U.S. customer assets; investigation and evidence collection expedited.
6. FTX bankruptcy case: (September 29) Deadline for submitting evidence of customer claims; more than $200 million in expenses have been incurred.
7. Coinbase v. SEC (3rd Cir.): (Oct. 11) Deadline for SEC to report to the Court on progress in considering Coinbase’s petition for rulemaking.
8. NYAG v. KuCoin: New York Attorney General claims $ETH is a security; no progress on this case has been reported.
9. Hodl Law v. SEC (seeking a court ruling that $ETH is not a security): awaiting court ruling on the SEC’s motion to dismiss.
10. Grayscale v. SEC (litigation to turn $GBTC into an ETF): Awaiting decision from the DC Court of Appeals — the judge asked tough questions of the SEC during oral arguments.
11. Voyager bankruptcy: Plan confirmed; Voyager customers can now reportedly withdraw about 35% of their account assets, but problems are also reported.
12. Celsius bankruptcy: Fahrenheit announced as the successful bidder for Celsius assets; revised plan requires court approval.
13. U.S. Trustee v. FTX (3rd Cir.): The trustee is appealing the bankruptcy court’s decision to deny the appointment of an independent examiner. Both FTX and the Committee of Unsecured Claims oppose the appointment of an independent examiner.