Regulation
Ripple CTO Defends Craig Wright In Satoshi Trial But With A Twist

In a surprising twist amid the ongoing legal battles involving Craig Steven Wright, Ripple’s Chief Technology Officer, David Schwartz, has defended his legal team’s arguments. Schwartz recently offered a shocking take on Wright’s controversial claims of being Bitcoin’s pseudonymous creator, Satoshi Nakamoto. The latest statement is poles apart from the Ripple CTO’s previous statements wherein he vehemently criticized Wright.
Ripple CTO On Craig Wright’s Arguments In Satoshi Trial
The conversation began when Hodlonaut, a prominent figure in the crypto community, took to X to highlight a peculiar argument from Wright’s legal team. He stated, “Craig Wright’s lawyers fight for his ‘human right’ to continue ‘identifying’ as Satoshi and asserting that he is.” Moreover, this statement sparked a range of reactions, including a notable response from Schwartz.
Schwartz acknowledged the legal complexity of Wright’s assertions. The Ripple CTO stated, “I hate to say this, but I think they’re right. Craig’s claims that he is Satoshi in conversations don’t fall into any category of speech that the government can prohibit or punish. They’re not fraud. They’re not defamatory.”
This perspective emphasizes the legal distinction between casual claims and fraudulent actions. Furthermore, it suggests that mere assertions of identity in informal contexts may not constitute illegal behavior. However, Schwartz’s defense was not without its caution.
A user questioned whether Wright’s claims amounted to fraud if he sought financial benefit by impersonating Satoshi. Hence, Schwartz clarified his stance stating, “That is fraud.” Nevertheless, the Ripple CTO continued defending the arguments made by Wright’s defense.
Schwartz added, “But him claiming to be Satoshi in casual conversations where he’s not specifically trying to get something of monetary value is not fraud. An injunction preventing him from using any claim to be Satoshi to obtain something of value would be fine.”
In addition, the Ripple CTO further elaborated on the limitations of judicial intervention in such cases. He emphasized that courts are not arbiters of historical truth. Schwartz stated, “Courts don’t get to decide historical questions and then prohibit people from disagreeing with the court’s conclusions.”
The Ripple CTO added, “However, they can issue injunctions prohibiting defamation, fraud, jury tampering, and so on. Claims in conversations don’t fall into any of those categories.”
Also Read: Craig Steven Wright’s Attorney Denies COPA Injunction In Satoshi Nakamoto Case
Update On June 7 Hearing In COPA Vs. CSW Case
COPA’s draft order proposes that Wright “shall not pursue proceedings.” The order aims to prevent him from claiming to be Satoshi Nakamoto in any global legal setting. However, Wright’s legal team, led by Craig Orr KC, sought to change “pursue” to “commence” to allow Wright to defend himself.
Nevertheless, COPA’s Hough KC argued this amendment could create a loophole, allowing friendly parties to sue Wright and revisit the issue. Orr KC invoked Wright’s free speech rights under Article 10 of the Human Rights Act, stating that Wright should be able to claim he is Satoshi. Thereafter, Hough KC countered that the court had found Wright lied about being Satoshi.
The draft order wouldn’t prevent Wright from making such claims privately but restricts public assertions. COPA also seeks to compel Wright to post the court’s findings on various platforms (Twitter, Slack, etc.) for six months. They also suggested referring Wright and others for potential criminal proceedings due to alleged perjury and document forgery.
Orr KC argued that the court’s findings were already widely publicized and accused COPA of seeking revenge and humiliation, claiming COPA had not suffered direct harm. He described COPA’s relief requests as “very wide-ranging, novel, and unprecedented.”
Also Read: Ripple Sparks Speculations With 150M XRP Transfer, What’s Next For XRP Price?
The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Regulation
USDC Issuer Circle Set To File IPO In April, Here’s All

USDC issuer Circle is reportedly set to file its initial public offering (IPO) in April as part of the firm’s plans to finally go public. The stablecoin issuer is allegedly already working with top financial institutions to achieve this move.
Circle To File IPO In Late April
According to a Fortune report, Circle is looking to file its IPO in late April, although the listing period remains uncertain. The report noted that when a company files to go public, its shares usually begin trading four weeks later, indicating that the listing could occur in May. However, there is also a scenario where the IPO process could drag on for months.
The stablecoin issuer is reportedly working with investment banks JPMorgan Chase and Citi to achieve its long-anticipated IPO. The firm had previously tried to go public in 2021 under a SPAC arrangement with a shell company.
The US SEC failed to sign off on this arrangement back then, and the company eventually scrapped these IPO plans by the end of 2022 when the crypto exchange FTX collapsed and the broader crypto market experienced a downturn.
Revelation about Circle’s IPO plans comes just days after the stablecoin issuer partnered with NYSE’s parent company to explore USDC’s use in traditional finance (TradFi). Meanwhile, the USDC stablecoin recently launched in Japan following approval from the country’s regulator. Notably, USDC is the first and only global dollar stablecoin approved under Japan’s stablecoin framework.
An Easier Path Now For The Stablecoin Issuer
Circle will likely face less resistance for its IPO plans under the current SEC administration. Under acting Chair Mark Uyeda, the Commission has shown its willingness to work hand in hand with crypto firms, which was missing under Gary Gensler’s administration.
US SEC Chair nominee Paul Atkins has also shown his willingness to change the approach that Gensler’s administration adopted towards crypto firms. During his nomination hearing, the SEC Chair nominee promised to prioritize providing regulatory clarity for the industry.
Circle’s IPO listing would be the biggest since the top crypto exchange Coinbase went public in 2021. Interestingly, Coinbase owns an equity stake in the crypto firm.
The firm’s USDC is currently the second-largest stablecoin by market cap, only behind Tether’s USDT. The stablecoin industry is heating up as more financial institutions look to develop their own stablecoin.
Donald Trump’s World Liberty Financial recently revealed plans to launch its USD1 stablecoin, while asset manager Fidelity is also considering doing so.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Regulation
Japan Set To Classify Cryptocurrencies As Financial Products, Here’s All

Cryptocurrency investors in Japan are bracing for impact following a plan to reclassify digital assets as financial products. While the plan has elicited excitement from cryptocurrency enthusiasts in the Far East, the ambitious plan will have to scale several legislative hurdles.
Japan Targets Reclassification Of Cryptocurrencies As Financial Products
According to a report by Nikkei, Japan’s Financial Services Agency (FSA) is inching toward classifying cryptocurrencies as financial products. Per the report, the FSA intends to achieve the reclassification via an amendment to the Financial Instruments and Exchange Act.
Currently, digital assets in Japan are considered crypto assets conferred with property rights and seen as payment means. Under the FSA’s plans, cryptocurrencies in Japan will be treated as financial products in the same manner as traditional financial products.
The FSA says it will adopt a slow and steady approach toward the reclassification, carrying out “a private expert study group” to test the waters. If everything goes according to plan, the FSA will submit the amended bill to Parliament in early 2026.
The classification of cryptocurrencies as financial products will have far-reaching consequences for the local ecosystem. Experts say treating cryptocurrencies as financial products will bring Japan closer to a crypto ETF launch amid a changing regulatory landscape.
Furthermore, the move may lower current cryptocurrency taxation for local investors since existing capital market rules will apply to the asset class.
A Fresh Bill For Crypto Insider Trading Is Underway
Apart from the reclassification, the FSA disclosed plans for new legislation against insider trading. The move flows treating cryptocurrencies as financial products and will strengthen existing investor protection rules.
“It is a direction to establish a new insider trading regulation that prohibits trading based on unpublished internal information,” said the FSA. “We will develop laws to prevent unfair transactions.”
However, Japan’s cryptocurrency scene is heating up to a boil, driven by local and international players. Last week, stablecoin issuer Circle secured approval from the FSA for USDC with top exchanges set to list the stablecoin.
Japan’s Metaplanet has tapped Eric Trump to join its Strategic Board of Advisors as it continues to load up Bitcoin.
Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.
Regulation
Kentucky Governor Signs Off On ‘Bitcoin Rights’ Bill, Strengthening Crypto Protections


In what is being dubbed a major development in the crypto regulation space, the Governor of the US state of Kentucky, Andy Beshear, has signed the ‘Bitcoin Rights’ bill into law. The law promises to safeguard protections for Bitcoin (BTC) users.
Bitcoin Rights Bill Comes Into Effect
Crypto regulations continue to evolve under pro-crypto US President Donald Trump’s administration. In the latest development, Kentucky has become the newest state to enshrine protections for digital asset users.
In an X post published on March 24, crypto advocacy group Satoshi Action Fund announced that Governor Beshear had signed the much-anticipated Bitcoin Rights bill into law. The post stated:
The right to self-custody, run a node, and use of digital assets is now protected for millions of Americans without fear of discrimination.
The bill was first introduced to the Kentucky House by Rep. Adam Bowling on February 19. According to the bill’s description, it seeks to safeguard users’ rights to use digital assets and self-custody wallets. Additionally, it aims to prohibit local zoning changes that discriminate against crypto mining operations.
The legislation outlines guidelines for running a digital asset node and excludes digital asset mining from money transmitter license requirements. It also clarifies that crypto mining or staking is not considered an offer or sale of securities.
On February 28, the bill passed Kentucky’s House of Representatives with a unanimous vote of all 91 representatives in favor. It later passed the Kentucky Senate on March 13, receiving backing from all 37 senators.
Kentucky’s proactive stance toward cryptocurrencies isn’t new. Earlier this year, the state became the 16th US state to introduce legislation seeking to create a Bitcoin strategic reserve.
Meanwhile, neighboring state Arizona is also joining the crypto movement. A recent X post by Bitcoin Laws revealed that Arizona’s House Rules Committee has passed two Bitcoin reserve bills — SB1373 and SB1025. These bills will now head to a full floor vote.
Renewed Optimism Under Trump Administration
Following Trump’s victory in the November presidential election, cryptocurrency regulations in the US are evolving rapidly, with many states introducing legislation aimed at strengthening their digital asset ecosystems and attracting crypto businesses.
Positive changes in crypto regulations are encouraging industry businesses to expand. For instance, leading crypto trading platform Coinbase recently announced plans to hire 1,000 employees in the US.
The Trump administration has also witnessed several lawsuits being dropped against major crypto entities, including Kraken, Coinbase, Gemini, and others. At press time, Bitcoin trades at $87,399, down 0.2% in the past 24 hours.

Featured Image from Unsplash.com, chart from TradingView.com

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