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December 8th - The Reserve Bank of Australia (RBA) will announce its final interest rate decision of the year on Tuesday, with the market expecting no rate adjustment. Nevertheless, this will remain one of the most closely watched meetings of the year. A wealth of data from the RBA indicates strong demand, rising inflation risks, and the economy nearing its capacity limits, making a hawkish signal highly likely. Economists from some major banks have already begun calculating that the RBA may tighten monetary policy in February next year after receiving fourth-quarter inflation data.On December 8th, the Election Committee of the 8th Legislative Council of the Hong Kong Special Administrative Region (HKSAR) announced the results of the functional constituency elections. Thirty seats were elected from 28 functional constituencies, and 30 members were elected as new Legislative Council members from these constituencies. The new Legislative Council will consist of 90 members, including 40 elected by the Election Committee, 30 elected from functional constituencies, and 20 elected by geographical constituencies. Earlier on the 8th, the list of the 40 newly elected Legislative Council members from the Election Committee had already been published. The list of the 20 members elected by geographical constituencies is expected to be announced on the same day. The term of the 8th Legislative Council of the HKSAR will begin on January 1, 2026, and will be four years.December 8th - Market speculation persists that the Bank of Japan (BOJ) may raise interest rates this month, but participants remain betting on a continued weakening of the yen. Traders at Bank of America, Nomura Holdings, and RBC Capital Markets say investor positioning reflects this bet. Citigroups "pain index" for the yen remains deep in negative territory, indicating continued negative sentiment towards the yen. Even with BOJ Governor Kazuo Ueda hinting at a possible imminent rate hike and the BOJ reportedly preparing to raise rates in December unless there is a major shock to the economy or financial markets, investors remain bearish on the yen. This is because even if the BOJ takes action, Japanese yields are still expected to be significantly lower than those in the US, which is more favorable for the dollar. Ivan Stamenovich, head of G-10 currency trading for Asia Pacific at Bank of America, said, "Positioning remains geared towards betting on the dollar to continue rising against the yen until the end of the year, and this trend is unlikely to change unless the BOJ delivers a real surprise." He added that Uedas hawkish comments sparked discussion about the currency pair, but market sentiment has not fundamentally changed.On December 8th, Israel Defense Forces Chief of Staff Zamir stated on the 7th that the withdrawal line drawn by the Israeli military under the first phase of the Gaza ceasefire agreement, known as the "Yellow Line," is the "new border" of the Gaza Strip. During an inspection of the Gaza Strip that day, Zamir said that the "Yellow Line" is the "new border" of the Gaza Strip, serving as both Israels forward defensive line and the boundary for Israeli military operations. Israel maintains operational control over large areas of the Gaza Strip and will continue to hold these lines. According to the first phase of the Gaza ceasefire agreement, the area outside the "Yellow Line" remains under Israeli control, and Israeli troops will no longer be stationed or conducting operations within the "Yellow Line."Anson Resources of Australia and Nusano of the United States have signed a lithium supply agreement.

Is the XLM Crypto Next in Line for a Big SEC Lawsuit?

Skylar Shaw

Aug 30, 2022 14:47

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A number of businesses have been the target of investigations as the Securities and Exchange Commission continues to plod along with its investigation into the cryptocurrency industry. As lawmakers enact relevant legislation, the government body is probing the industry for regulatory gaps and dubious practices that it will look to remedy in the next years. The SEC is now scrutinizing one of the newest projects, Stellar (XLM-USD) and the XLM cryptocurrency.


The SEC's first nascent interest in cryptocurrencies has grown tremendously over the last two years. It launched its first significant legal action against a cryptocurrency project in 2020 and currently has a hand in some of the largest businesses supporting the mostly unregulated sector. The agency is becoming a real pain in the neck for both exchanges and dapp developers.


The SEC launched numerous additional investigations throughout the course of the summer that focused on some of the most recognized cryptocurrency businesses. Most noteworthy are its several investigations into Coinbase (NASDAQ:COIN); it is looking into the validity of Coinbase's staking feature, whether it made unlawful securities offerings, and the involvement of a former employee in the first-ever crypto insider trading inquiry.


These inquiries all follow the SEC's first inquiry into the cryptocurrency market, which is still active today and is being pursued via litigation. The SEC accused Ripple (XRP-USD) of selling its XRP cryptocurrency in violation of securities laws in December 2020.


The legal dispute is approaching its second anniversary. The two bodies have gone back and forth with victories and losses, and it doesn't seem any more probable that it will stop than it did when it first began. This might also be advantageous. It is in the best interests of investors to take the time to present a strong case since the lawsuit will undoubtedly create a precedent for how the SEC will handle future crypto offers.

Crypto News XLM: SEC News Suggests Stellar Is in Trouble

All of the SEC's actions to far have shown that anybody may become the subject of a lawsuit. And now that it's known that the SEC is showing interest in Stellar's XLM cryptocurrency, it's possible that it may become the next big initiative.


Of course, the connection between Stellar and Ripple is important to note. After all, the initiatives' origins and goals are quite similar. Therefore, the Ripple lawsuit's verdict may have the greatest direct impact on Stellar. Jed McCaleb, who left Ripple in 2013 to start Stellar, is a co-founder of both projects. Stellar even used the Ripple technology to settle transactions at first. Similar to its peer, the initiative aims to reduce the administrative burden of wire transfers that are bank-centric.


Institutional cryptocurrency investor Grayscale is raising doubts about an SEC investigation today, which is bad news for the XLM cryptocurrency. In order to learn more about multiple crypto trusts, including one that contains XLM, the government organization reportedly got in touch with Grayscale. It wants more information on the "securities law study" Grayscale did of its token holdings.


Grayscale has previously maintained its position that several of its other assets, including XLM, were not securities. While conceding for the first time that these tokens could qualify as securities under present rules, as CoinDesk notes. Although there is no concrete indication the SEC will investigate Stellar, it is a scary time for holders. Given its recent position shift and how closely XLM resembles the Ripple model, Grayscale may find itself in a same bind as XRP.

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