Jay Clayton

Digital Assets: Clayton’s Parting Shot At Crypto – SEC To Sue Ripple

The SEC will likely sue Ripple, CEO Brad Garlinghouse, and co-founder Chris Larsen, according to Fortune. The SEC will charge the defendants for selling XRP tokens, which it alleges are unlicensed securities. XRP ranks third in the pecking order of cryptocurrencies with a market cap of $23 billion. The SEC would make the case that XRP is a security and it needed to be registered as an investment contract prior to its sale.

Alternative Investments: SEC Revamps Definition of “Accredited Investor” For Private Capital Markets

The SEC on Wednesday amended its definition of “accredited investor,” a term that drew a line between high-earning, deep-pocketed investors and retail investors for access to often lucrative opportunities in the private capital markets. Also known as “alternative investments,” these markets include, for example, venture capital, hedge funds, private equity, and real estate.