'Customers' Funds Are Safe': Coinbase CEO Brian Armstrong Responds To US SEC Lawsuit
1 year, 6 months ago

'Customers' Funds Are Safe': Coinbase CEO Brian Armstrong Responds To US SEC Lawsuit

ABP News  

Coinbase CEO Brian Armstrong responded to US Securities & Exchange Commission Chair Gary Gensler's lawsuit against the crypto exchange, referring to him as an "exception" and reassuring customers about the safety of their funds. In a separate lawsuit, the SEC sued Binance, the largest cryptocurrency exchange globally, accusing it of selling unregistered cryptocurrency products, inflating trading volumes, and failing to restrict US customers from its platform. Coinbase has been urging the SEC to establish specific crypto regulations since last year and sought a response from the regulator through legal channels in April. Grewal expressed Coinbase's willingness to engage in a dialogue with the SEC to bring cryptocurrency within the regulatory framework while also emphasising the company's commitment to defending itself in court.

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History of this topic

Trump's SEC pick offers stark new reality for Wall Street: easier oversight
2 weeks, 5 days ago

Trump's SEC pick offers stark new reality for Wall Street: easier oversight

Politico  

“Paul knows the SEC better than anyone, and now, he’ll have the opportunity to implement his vision,” said Justin Daly, a former SEC official and congressional staffer who has known Atkins for two decades. “He will hit the ground running.” The SEC’s looming pullback underscores the stark new reality that awaits Wall Street, crypto and the broader business world when …

SEC Chair Gary Gensler, who took aim at crypto industry, to step down in January
Trending News
1 month ago

SEC Chair Gary Gensler, who took aim at crypto industry, to step down in January

NPR  

SEC Chair Gary Gensler, who took aim at crypto industry, to step down in January Gary Gensler, the U.S. financial regulator who crypto investors loved to hate, will leave the Securities and Exchange Commission on Jan. 20, the agency announced on Thursday. "The SEC has met our mission and enforced the law without fear or favor," Gensler said in a …

SEC Chair Gary Gensler stepping down as crypto industry pushes for friendlier agency
1 month ago

SEC Chair Gary Gensler stepping down as crypto industry pushes for friendlier agency

Salon  

Securities and Exchange Commission Chair Gary Gensler plans to resign on Jan. 20, a decision that paves the way for President-elect Donald Trump to reshape the agency into a more favorable environment for crypto and Wall Street. Candidates under consideration have included Daniel Gallagher, a former SEC official now at financial services firm Robinhood, and current Republican SEC commissioners Hester …

SEC's crypto regulations to see significant cuts under Trump as commission’s top boss looks at exit
1 month, 2 weeks ago

SEC's crypto regulations to see significant cuts under Trump as commission’s top boss looks at exit

Firstpost  

Trump has made his position on Gary Gensler crystal clear. During a Bitcoin event in Nashville, he promised to dismiss the SEC Chair on his first day back in office A new SEC Chair under Trump’s administration could aim to simplify rules for digital assets, moving away from outdated laws and toward more practical regulations that acknowledge the unique aspects …

U.S. crypto exchange Coinbase adds three board members, including OpenAI executive
4 months, 4 weeks ago

U.S. crypto exchange Coinbase adds three board members, including OpenAI executive

The Hindu  

U.S. cryptocurrency exchange Coinbase has added three new members to its board of directors, including an executive from ChatGPT-maker OpenAI, as the company steps up its efforts to sway U.S. crypto policy, Coinbase told Reuters on Thursday. Coinbase's move to expand its board comes as the company and cryptocurrency industry more broadly aims to make the industry a major political …

The Crypto Bros Are Back—and They Have a Dangerous Political Goal
7 months, 3 weeks ago

The Crypto Bros Are Back—and They Have a Dangerous Political Goal

Slate  

After the spectacular fall of FTX CEO Sam Bankman-Fried, you might have expected the embattled cryptocurrency sector, and its sophisticated lobbying operations, to have ground to a halt. The then-nascent Biden administration had already turned its attention to crypto regulation, with the SEC lodging its securities charges against Ripple in February of that year—while also approving crypto exchange Coinbase’s request …

The Last Man Standing in Crypto
11 months, 1 week ago

The Last Man Standing in Crypto

Live Mint  

Coinbase Global, the cryptocurrency exchange he co-founded in 2012, is one of the last big digital-asset companies standing after a string of high-profile collapses and government crackdowns. Assuming the judge allows the SEC’s suit to go forward, the company could litigate it into 2025 or longer before any trial is held, Paul Grewal, Coinbase’s chief legal officer, said in an …

SEC lawsuits against cryptocurrency companies raise questions about industry's future
1 year, 6 months ago

SEC lawsuits against cryptocurrency companies raise questions about industry's future

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. SEC Chair Gary Gensler told …

Regulators put the future of America’s crypto industry in doubt
1 year, 6 months ago

Regulators put the future of America’s crypto industry in doubt

Hindustan Times  

Taylor Swift’s record-smashing “Eras” tour could end up being one of the most lucrative in musical history, possibly even minting the world’s newest billionaire. When courted to invest in FTX, a now-defunct crypto exchange, she reportedly balked: “Can you tell me that these are not unregistered securities?” American regulators are asking similar questions. On June 6th the Securities and Exchange …

U.S. steps up crypto crackdown with Coinbase suit
1 year, 6 months ago

U.S. steps up crypto crackdown with Coinbase suit

The Hindu  

In their second major action against a big crypto player in two days, U.S. regulators sued Coinbase on Tuesday, alleging its failure to register as a securities exchange venue exposed investors to risk. The Securities and Exchange Commission charged that the largest digital currency trading platform in the United States had made billions of dollars by "unlawfully facilitating the buying …

Coinbase and Binance SEC lawsuits: How the feds are strangling crypto.
1 year, 6 months ago

Coinbase and Binance SEC lawsuits: How the feds are strangling crypto.

Slate  

Another day, another crackdown from the federal government on the cryptocurrency industry. Also on Tuesday, Coinbase chief legal officer Paul Singh Grewal testified in front of the House Agriculture Committee on “the future of digital assets” as well as a pending Republican-backed bill that, if passed, would allow certain digital currencies to be defined as commodities instead of securities, thus …

Coinbase targeted by SEC in latest shot at crypto firms for allegedly skirting securities laws
1 year, 6 months ago

Coinbase targeted by SEC in latest shot at crypto firms for allegedly skirting securities laws

Associated Press  

NEW YORK — Coinbase has been targeted by U.S. regulators in a new lawsuit Tuesday that alleges the cryptocurrency platform is operating as an unregistered securities platform and brokerage service. The lawsuit from the Securities and Exchange Commission comes only a day after it filed charges against Binance, the world’s largest crypto exchange, and its founder Changpeng Zhao are accused …

SEC brings charges against cryptocurrency trading platform Coinbase
1 year, 6 months ago

SEC brings charges against cryptocurrency trading platform Coinbase

LA Times  

The Securities and Exchange Commission is charging Coinbase for operating its crypto asset trading platform as an unregistered national securities broker and failing to register its crypto asset staking-as-a-service program. “Coinbase has for years defied the regulatory structures and evaded the disclosure requirements that Congress and the SEC have constructed for the protection of the national securities markets and investors,” …

The SEC sues Binance, unveils 13 charges against crypto exchange in sweeping lawsuit
1 year, 6 months ago

The SEC sues Binance, unveils 13 charges against crypto exchange in sweeping lawsuit

NPR  

The SEC sues Binance, unveils 13 charges against crypto exchange in sweeping lawsuit Enlarge this image toggle caption Patricia De Melo Moreira/AFP via Getty Images Patricia De Melo Moreira/AFP via Getty Images U.S. regulators are targeting more giants in the world of crypto. On Monday, it filed 13 charges against Binance, which operates the world's top crypto exchange, as well …

Binance and Coinbase Have Been Sucked Into a Regulatory Turf War
1 year, 8 months ago

Binance and Coinbase Have Been Sucked Into a Regulatory Turf War

Wired  

On March 22, Coinbase, one of the world’s largest crypto exchanges, was sent a notice by the US Securities and Exchange Commission warning that the regulator planned to sue, alleging the company had violated securities laws. But on March 27, Binance, the world’s biggest crypto exchange, and its founder Changpeng Zhao were charged by a different regulator, the Commodities and …

Coinbase tumbles after SEC warns of securities violations
1 year, 9 months ago

Coinbase tumbles after SEC warns of securities violations

Associated Press  

Shares of Coinbase tumbled 15% Thursday after the cryptocurrency trading platform received a warning from the Securities and Exchange Commission that it could face securities charges. The cryptocurrency trading platform said in an SEC filing late Wednesday that it had received a Wells Notice from the agency, which indicates that regulators believe laws protecting investors were violated. “We continue to …

Coinbase warns of ‘legal threats’ amid crypto crackdown fears
1 year, 9 months ago

Coinbase warns of ‘legal threats’ amid crypto crackdown fears

The Independent  

Sign up to our free weekly IndyTech newsletter delivered straight to your inbox Sign up to our free IndyTech newsletter Sign up to our free IndyTech newsletter SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Leading crypto exchange Coinbase has said it received “legal threats” after asking US …

US regulator threatens Coinbase of a potential lawsuit
1 year, 9 months ago

US regulator threatens Coinbase of a potential lawsuit

India TV News  

The Securities and Exchange Commission is reportedly planning to sue Coinbase, one of the largest cryptocurrency exchanges in the world. The company received Well’s notice from SEC, which is an indication that the regulator believes the company has violated investor protection laws and an alert for a potential action from SEC. Following the Federal Reserve's decision on Wednesday to raise …

Securities And Exchange Commission Thor Technologies Unregistered Coins Gig Economy
1 year, 11 months ago

Securities And Exchange Commission Thor Technologies Unregistered Coins Gig Economy

ABP News  

The US Securities and Exchange Commission has framed charges against Thor Technologies and its founders for indulging in an unregistered securities offering on December 26. The media reported that the company's co-founder and CEO David Chin, and other co-founder and former CTO, Mathew Moravec, were found to be conducting an unregistered offering of securities through an initial coin offering. It …

Explained | Why did the U.S. SEC charge Kim Kardashian for ‘touting’ cryptocurrency?
2 years, 2 months ago

Explained | Why did the U.S. SEC charge Kim Kardashian for ‘touting’ cryptocurrency?

The Hindu  

The story so far: North American TV star Kim Kardashian on Monday agreed to pay $1.26 million as fees and penalties to settle charges levelled by the United States’ Securities and Exchange Commission. “This case is a reminder that, when celebrities or influencers endorse investment opportunities, including crypto asset securities, it doesn’t mean that those investment products are right for …

Coinbase faces SEC investigation on crypto listings; shares fall
2 years, 4 months ago

Coinbase faces SEC investigation on crypto listings; shares fall

Al Jazeera  

The drumbeat in Washington for US regulators to do more to oversee crypto has grown louder as digital currencies have tumbled from all-time highs. The probe by the SEC’s enforcement unit predates the agency’s investigation into an alleged insider trading scheme that led the regulator last week to sue a former Coinbase manager and two other people. While the agency …

Coinbase faces SEC probe over unregistered securities
2 years, 4 months ago

Coinbase faces SEC probe over unregistered securities

LA Times  

The U.S. Securities and Exchange Commission headquarters. The investigation by the SEC’s enforcement unit predates the agency’s inquiry into an alleged insider trading scheme that led the regulator last week to sue a former Coinbase manager and two other people. Although the agency didn’t allege wrongdoing by Coinbase, the SEC said it had determined that nine of the dozens of …

Former Coinbase employee charged in first crypto insider trading case
2 years, 5 months ago

Former Coinbase employee charged in first crypto insider trading case

The Hindu  

A former Coinbase product manager and his brother, along with a Houston man, were charged Thursday in what federal authorities described as the U.S. government’s first cryptocurrency insider trading case. Ishan Wahi bought a one-way airline ticket to India in an “unsuccessful attempt to flee from the United States” after agreeing to be interviewed for an internal probe by Coinbase, …

The crypto security debate goes to court
2 years, 6 months ago

The crypto security debate goes to court

Live Mint  

Investors are asking the courts to decide an existential question for the cryptocurrency industry: whether digital tokens are, for legal purposes, more similar to stocks or to gold. Attorneys for cryptocurrency-trading platform Coinbase Global Inc. filed a motion this month to dismiss a class-action lawsuit arguing that 79 of the tokens listed on the firm’s platform are unregistered securities. Because …

SEC’s Gensler says crypto investors need more protection
3 years, 4 months ago

SEC’s Gensler says crypto investors need more protection

Associated Press  

— The chairman of the Securities and Exchange Commission said that investors need more protection in the cryptocurrency market, which he said is “rife with fraud, scams and abuse.” Gary Gensler, appointed by President Joe Biden to lead the body that regulates securities markets, listed several areas where crypto needed to be reigned in or regulated, particularly with regard to …

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