Coinbase met with the SEC 30 times in 2022 seeking regulatory guidance and now it will “vigorously defend” itself, it says. “Coinbase has embraced regulation since we were founded over a decade ago,” the cryptocurrency exchange’s chief legal officer, Paul Grewal, told the United States Congress on June 6. “The SEC [Securities and Exchange Commission] allowed…
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In a social media post, Brian Armstrong said he thinks the SEC’s rules are unclear and that the courts need to make rulings to clarify them. Coinbase CEO Brian Armstrong has responded publicly to the United States Securities and Exchange Commission (SEC) lawsuit against his company, stating in a tweet that the team is “confident…
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The upgrade is part of a series of reforms meant to increase modularity in the OP Stack, allowing developers to spin up their own networks using the software. The Optimism network concluded its “Bedrock” upgrade on June 7, reducing deposit times, lowering layer-1 fees and enacting additional security features, according to an announcement from network…
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Dogecoin was one of the biggest losers in crypto markets on Tuesday, as markets continued to react to the United States Securities and Exchange Commission (SEC) suing Binance and Coinbase. The global cryptocurrency market lost nearly 4% of its value in today’s session. Solana was another notable mover, falling by 9% today. Dogecoin (DOGE) Dogecoin…
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In the aftermath of the U.S. Securities and Exchange Commission’s (SEC) enforcement actions against Coinbase and Binance, chairman Gary Gensler engaged in a conversation, maintaining that further digital currencies are unnecessary. “We already have digital currency. It’s called the U.S. dollar. It’s called the euro or it’s called the yen, they’re all digital right now,”…
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The cryptocurrency exchange faces scrutiny from state regulators simultaneous to the SEC litigation. The stock of cryptocurrency exchange Coinbase plunged more than 20% at the open on June 6. At the time of publication, shares have pared some losses and are currently trading at $50.14, compared to an intra-day low of $46.43. The company’s market capitalization…
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The SEC is suing the cryptocurrency exchange for alleged unregistered securities offerings. According to a statement published by the Alabama Securities Commission on June 6, a multistate task force comprising state regulators from Alabama, California, Illinois, Kentucky, Maryland, New Jersey, South Carolina, Vermont, Washington and Wisconsin have issued a Show Cause Order against cryptocurrency exchange…
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After the U.S. Securities and Exchange Commission (SEC) sued Binance, it has now filed a legal case against the San Francisco-based exchange, Coinbase. The SEC alleges that Coinbase breached multiple securities regulations and has been functioning as an unregistered broker since 2019. SEC Alleges Coinbase Operated an Unregistered Brokerage and Committed Multiple Securities Offenses The…
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After Coinbase was sued by the U.S. Securities and Exchange Commission (SEC), the Alabama Securities Commission (ASC) filed a show cause order against Coinbase and directed the company to show cause on why the firm should not cease and desist from selling unregistered securities in the state. Furthermore, the ASC order discloses that the enforcement…
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On June 1, Coinbase revealed its plans to extend bitcoin and ether futures contracts to institutional investors through its derivatives exchange. The firm mentioned that the Coinbase Bitcoin (BTI) and Ether (ETI) futures contracts would be accessible via third-party institutional futures commission merchants (FCMs) and brokerage firms. Coinbase to Launch New Bitcoin and Ether Futures…
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