According to CryptoPotato, the legal battle between Ripple and the US Securities and Exchange Commission (SEC) is nearing its trial phase, scheduled for April 23. Prior to the trial, both parties must comply with necessary court requirements. American lawyer James Filan revealed that the regulator filed its opening remedies-related brief and supporting documents under seal. The redacted version of the data will be presented no later than March 26. Initially, the SEC had to file its brief with respect to remedies by March 13, but it was granted an extension on the deadline. Ripple’s opposition letter should come no later than April 22, according to the magistrates’ latest ruling. Despite their differences, Ripple and the SEC recently filed a joint letter seeking the authorities’ approval to govern sealing issues relating to the upcoming remedies-related briefing. The document proposes a schedule for redactions soon after the reply briefs are filed, allowing sufficient time for the parties to meet and confer. The possible resolution of the case is one factor that could propel a price rally for XRP, in the event of a Ripple victory. The outcome of the trial will be closely watched by investors and the cryptocurrency community.

Richard Teng, the CEO of Binance, led a delegation from Binance that met with Chief Prosecutor Chang, Tou-Hui of Taiwan's High Prosecutor's Office on March 22. The parties engaged in profound discussions, specifically centered around crime prevention in the digital assets space and potential expansion of collaboration in this area. A track record of successful cooperation already exists between Binance and Taiwan's law enforcement agencies. As part of its comprehensive global law enforcement training program, Binance has so far rolled out training courses to over 10 various units across Taiwan, having in excess of 1,000 law enforcement officers participate. During this meeting, both Binance representatives and Taiwanese officials considered methodologies to further deepen cooperation combating illegal activities to maintain the integrity of the financial environment. Binance CEO, Richard Teng, emphasized one of his top three commitments, endured since his appointment to the role, was to perpetually work alongside regulators. He showed appreciation towards Taiwan's law enforcement agencies for their substantial support and emphasized his fulfillment of that commitment. In response to the meeting, Chief Prosecutor Chang, Tou-Hui expressed gratitude towards Binance for their ongoing support and assistance towards Taiwan's law enforcement agencies. Damien Ho, a member of Binance's APAC regional team, underscored the primary role of collaboration between the public and private sectors in preventing and battling illicit activities in Web3. Ho expressed his optimistic outlook towards fortifying cooperation with Taiwan's law enforcement agencies in the future. Binance remains committed to not only continuing its contributions to secure user assets but also to establish a safer and more dependable virtual assets ecosystem.

According to Foresight News, LayerZero Labs CEO Bryan Pellegrino has accused 3AC co-founder Kyle Davies of offering higher interest rates to entice LayerZero to invest all its funds in 3AC, despite 3AC being insolvent at the time of the transaction. Pellegrino made these allegations in a tweet, raising concerns about the business practices of 3AC and its co-founder.

According to PANews, the Estonian government has approved a bill to regulate cryptocurrency service providers, which now requires a parliamentary vote. Under the proposed legislation, crypto service providers will be regulated by the Financial Supervisory Authority (FSA). Currently, these providers are registered with the Financial Intelligence Unit (FIU) and must comply with anti-money laundering (AML) rules. The FSA will begin issuing licenses in 2025, and FIU license holders must apply for an FSA license before the end of that year. The new bill will bring Estonia in line with the European Union's crypto asset market (MiCA) regulations.

According to CoinDesk, Terra co-founder Do Kwon's extradition to South Korea has been halted following a legal challenge from the top prosecutor of Montenegro. Kwon has been in Montenegrin custody since March 2023, when he was arrested and jailed for using fake Costa Rican documents in traveling to Dubai. Montenegrin authorities are weighing competing extradition requests for Kwon from his native South Korea and the U.S., where he also faces criminal charges. Kwon had allegedly been on the run for months following the $40 billion implosion of Terraform Labs and the Terra ecosystem in May 2022. Terraform Labs co-founder Do Kwon's pending extradition to South Korea has apparently been put on ice following a legal challenge issued Thursday by Montenegro's top prosecutor. Montenegro's Office of the Supreme State Prosecutor said that the High Court's decision to extradite Kwon to his native South Korea instead of to the U.S. – as well as the appellate court's subsequent confirmation – was done via 'abbreviated proceedings' that exceeded the limits of its powers, according to a translated statement published Thursday. A decision on permission for Kwon's extradition is to be made solely by the country's minister of justice, according to the statement. Kwon was not directly named in the statement, which simply refers to 'a citizen of the Republic of South Korea.' Montenegro was inadvertently placed at the center of a tug-of-war between the U.S. and South Korea a year ago, when Kwon and his colleague, Han Chang-joon, were arrested and jailed for attempting to use fake Costa Rican passports en route to Dubai. Kwon's arrest came six months after Interpol issued a 'red notice' for his arrest and 10 months after the $40 billion implosion of his company, Terraform Labs, and the Terra ecosystem. Kwon faces criminal charges in both the U.S. and South Korea, but he's fought extradition since his arrest, appealing several court decisions with varying degrees of success. Han was extradited to South Korea in February, and Kwon looked poised to follow. His Montenegrin lawyer, Goran Rodic, told CoinDesk Kwon was likely to be extradited to South Korea after March 23, but that timeline – as well as Kwon's ultimate destination – is once again hazy. This is a developing story and will be updated.

According to PANews, the US Securities and Exchange Commission (SEC) is taking legal action to classify Ethereum as a security. This action involves issuing subpoenas to US companies, requiring them to provide all documents and financial records related to the Ethereum Foundation. The investigation began in September 2022 when the Ethereum blockchain transitioned to a new governance model called 'Proof of Stake'. Although the SEC has not commented on the matter, this move appears to be a significant review of the Switzerland-based Ethereum Foundation. This action could have far-reaching implications for the cryptocurrency industry, particularly in discussions about whether crypto assets are considered securities.

According to PANews, Federal Reserve Chairman Jerome Powell stated that the risks of achieving employment and inflation targets are being better balanced as the tense supply-demand relationship in the labor market eases. Inflation has significantly eased in the past year but remains above the Fed's set 2% long-term target, and long-term inflation expectations are still unstable. If appropriate, the Fed will maintain the federal funds rate target range at its current level for a longer period. Powell said that the Federal Open Market Committee believes it is 'inappropriate' to lower the target range before having confidence in inflation consistently moving towards 2%. However, the Fed has not yet gained the confidence to begin cutting interest rates from various data. Powell also mentioned that discussions took place during the meeting about slowing down the reduction of the balance sheet, and that it would be appropriate to slow down the pace of the reduction soon. Slowing down the reduction will ensure a smooth transition, alleviate pressure on the money market, and limit the risk of fluctuations in the money market.

According to Odaily: Recovery in the stock market and boost in risk assets, sparked by Federal Reserve Chairman Powell's stance on inflation, continued when he suggested that a rate cut in May or June hasn't been ruled out yet. The statement came on March 21, and has instilled further confidence in the market anticipating potential monetary relaxation. Earlier worries in the market, spurred by January and February's inflation reports, hinted at possible delays in the Federal Reserve's interest rate reductions. However, Powell's inflation perspective, along with his open stance about potential rate cuts in the coming months, has played a key role in recent stock market upturns, as gains continue to accelerate.

According to CoinDesk, US Rep. Patrick McHenry and Sen. Cynthia Lummis have stated that there is a potential path for a stablecoin bill in Congress this year, although they could not provide a specific timeline. The US Senate has been lagging on the stablecoin issue, with no committee work on a bill yet. McHenry, the chairman of the House Financial Services Committee, said that a stablecoin bill is largely worked out in the House of Representatives and just needs a scheduled floor vote. He has been working with Rep. Maxine Waters, the panel's top Democrat, on a stablecoin bill for nearly two years. Sen. Cynthia Lummis also spoke at the event, saying those working on the stablecoin bill in the Senate are speaking 'daily' with their House counterparts. She predicted that a compromise bill is the most likely crypto legislation to make it in 2024. Lummis noted that Sen. Chuck Schumer, the majority leader of the Senate, has said he is willing to consider such a bill. McHenry's committee has previously passed a stablecoin bill in his committee with a bipartisan vote that saw several Democrats supporting the Republican-driven version despite Waters' opposition.

According to Odaily: Federal Reserve Chairman, Powell, on March 21, weighed in on the issue of the Central Bank Digital Currency (CBDC), stating that it is premature for the Federal Reserve to investigate it. He affirmed that for a digital dollar to be launched, legislative authorization is mandatory. It was made clear that the Federal Reserve is far from launching a Central Bank Digital Currency of its own. This stance by the Chairman emphasizes the complexity and regulatory challenges the potential adoption of digital currencies presents to financial establishments globally.