Seeds of Wisdom RV and Economic Updates Tuesday Morning 3-25-25
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CRYPTO NEWS: ACTING CHAIR STANDS ALONE, VOTES AGAINST SUING MUSK FOR STOCK DISCLOSURE DELAY
▪️SEC lawsuit against Elon Musk faces internal divisions, with acting chair Mark Uyeda opposing legal action over Musk's Twitter stock purchase.
▪️Musk’s SEC lawsuit sparks debate on securities laws for tech executives amid shifting crypto enforcement and regulatory priorities.
The U.S. Securities and Exchange Commission (SEC) has faced internal divisions regarding its decision to pursue legal action against Elon Musk. Mark Uyeda, the acting SEC chair, was reportedly the only commissioner who opposed suing Musk over his delayed disclosure of his stock purchase in Twitter, now rebranded as X.
According to a report by Reuters, this decision comes at a time when the SEC is dealing with shifting priorities and challenges within the agency. The vote to determine whether Musk should face a lawsuit took place behind closed doors, with Uyeda breaking from the other commissioners who favored legal action.
The SEC had formally filed a lawsuit against Musk in January 2025, alleging that he violated federal securities laws by failing to disclose his acquisition of more than 5% of Twitter’s stock in 2022. This failure to file the necessary report allowed Musk to purchase additional shares at artificially low prices, potentially saving him millions of dollars.
SEC’s Changing Stance
The SEC has been adjusting its approach to regulating cryptocurrency, easing enforcement actions against companies such as Ripple, OpenSea, and Coinbase. This more lenient stance has sparked discussions about the agency’s evolving priorities.
Musk’s involvement in the Trump administration has also generated attention. He was appointed by former President Donald Trump to lead the newly established Department of Government Efficiency, a role designed to streamline regulatory practices. Musk’s relationship with Trump continues to raise speculation about potential influence on regulatory decisions.
The SEC’s case against Musk brings to attention the ongoing debate about how securities laws apply to tech executives, particularly in the changing digital asset space. The outcome of this lawsuit could have significant implications for future regulatory actions in the U.S.
@ Newshounds News™
Source: Coinpedia
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RIPPLE CEO BRAD GARLINGHOUSE PREDICTS ‘TRUMP EFFECT’ WILL SPARK CRYPTO ADOPTION WAVE IN 2025
Ripple CEO Brad Garlinghouse is predicting crypto adoption will soar this year as US President Donald Trump embraces the industry.
In a new interview with Fox Business, Garlinghouse says that since the United States is no longer stifling the crypto industry with unnecessary lawsuits and regulation by enforcement, the growth of the digital assets sector is poised to skyrocket.
“Once the United States government filed suit, we really were kind of frozen in the US market, and so about 95% of our customers today, Ripple’s customers, are non-US financial institutions, and those are some of the largest financial institutions, ranging from HSBC and BBVA to payment providers you wouldn’t necessarily have heard of. Markets like Japan, I think are still unlocking.
The market opportunity here is massive. You have trillions of dollars flowing cross-border globally. It’s still largely dominated by the Swift network, if you will. That’s a technology architecture that was developed 50 years ago. There’s an opportunity to modernize.
That takes time, particularly when you have a government in the US kind of combating that innovation. But that’s changing now. The Trump effect, if you will, is profound. You’re seeing that in asset prices, but you’re also going to see that in the adoption of these technologies.”
The Ripple CEO also says that blockchain technology may be adopted for a number of uses, including the trading of stocks and the selling and buying of real estate.
“We’re definitely already seeing a change in the domestic interest. These six weeks after President Trump was elected, we signed more deals in the United States than we had in the previous six months. So these are very innovative technologies.
I think they’re going to play out over 10, even 20 years, in terms of how they integrate and rewire the financial infrastructure of the United States. That’s across payments, that’s across even the settlement of maybe real estate transactions, securities transactions.
So I think we’re going to see this play out over a long arc, but the United States is finally unlocked, and I think people are underestimating how big that change is, and you’ll see that continue to play out this year.”
@ Newshounds News™
Source: DailyHodl
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