DeFi News Daily Official TheBitTimes.com

The United States Commodity Futures Trading Commission (CFTC) had its emergency motion for a stay and immediate interim relief in its case against prediction market Kalshi thrown out. After Kalshi’s successful lawsuit against the CFTC, in preparation for its appeal, the commission filed the motion seeking a delay in Kalshi’s ability to resume offering prediction markets in elections. According to the opinion that accompanies the rejection of the motion, the CFTC “has failed at this time to demonstrate that it or the public will be irreparably injured” absent the stay or immediate relief. However, the opinion does also note that “the question on the merits is close and difficult.” In a separate aside, the opinion also raises the question of whether or not Polymarket has complied with its obligation to block access to US persons . US presidential election markets are legal. Officially. Finally. Kalshi prevails. pic.twitter.com/jvObcQDczz — ...

Former SEC Chair Jay Clayton does not think litigation carves the path forward for crypto regulation, a belief that seems to differ from the SEC’s current stance, with multiple open court cases against crypto companies.  “These lawsuits are unlikely to address questions of whether existing laws need to be adjusted to deal with particular features of digital tokens,” Clayton and former CFTC Chair Timothy Massad wrote in the Wall Street Journal on Friday, June 7 — the second piece the duo has penned specifically on the regulation of digital assets. Furthermore, they argue, a judge should not “address the board and technical questions of a market structure and operation in the context of a case that hives on the classification of a particular token.” Clayton has previously spoken out against the current regulation-by-enforcement approach that the SEC is taking.  In December of last year, Clayton and Massad explained how to start regulating crypto markets following the collapse of ...

The Delaware Court of Chancery has granted a motion by Galaxy Digital, resulting in the dismiss al of BitGo’s case following the abandoned acquisition. Vice chancellor J. Travis Laster affirmed that Galaxy Digital had the right to terminate the acquisition of BitGo, asserting a “clean termination right” in their decision announced in 2022. Complaint dismissed According to official court documents filed on June 9, vice chancellor J. Travis Laster dismissed BitGo’s complaint against Galaxy Digital, imposing a dismissal with prejudice. This decision comes after Galaxy Digital withdrew its intent to acquire BitGo in August 2022 as part of a substantial $1.2 billion deal.  We’re pleased with the court’s decision to dismiss BitGo’s claims. Now is the time for all of us to work together and focus on the task at hand: Upgrading the global financial system in a manner that promotes innovation and protects investors and consumers alike. pic.twitter.com/xPrMP8AghW ...