Wednesday, October 4, 2023
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The United States Securities and Exchange Commission (SEC) was unsuccessful in its attempt to have its recent courtroom loss to crypto firm Ripple Labs overturned, as per a court ruling issued on Tuesday.
U.S. District Court Judge Analisa Torres, who had previously ruled in July that Ripple's sale of a cryptocurrency token to consumers did not violate securities regulations, stated in her ruling that the SEC had not demonstrated that the initial decision was significantly flawed or problematic. The SEC had sought to reverse the ruling before a final judgment is made in the case next spring.
In today's news, we have Ripple obtaining a digital asset license in Singapore, Friend.tech users getting SIM swapped, and Orbiter Finance Bridge having difficulties.
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The team behind the decentralized cross-bridge rollup, Orbiter Finance, assured users that customer funds are safe and explained its temporary disappearance from Discord.
Orbiter clarified that certain transactions were delayed, causing concern among some users who suspected a rug pull.
The Block | | Increasingly Common
Some users of Friend.Tech reported falling victim to SIM swap attacks over the weekend, where attackers successfully drained thousands of dollars worth of tokens.
SIM swap attacks involve criminals taking control of a mobile phone by tricking service providers into connecting the phone number to a SIM card in the hacker's possession, allowing them to engage in fraudulent activities.
Cointelegraph | | Causing Ripples in Singapore
Blockchain payments firm Ripple has been granted a digital asset license by the Monetary Authority of Singapore.
This newly acquired Major Payments Institution (MPI) license permits Ripple to provide regulated digital asset token services within Singapore. The license specifically covers Ripple's Singapore subsidiary, Ripple Markets APAC Pte Ltd.
CoinDesk
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