The SEC’s lawsuit against Coinbase named thirteen altcoins as securities. Source
Altcoins Dip Following Second SEC Lawsuit Against Crypto Exchange
Day: June 6, 2023
EU ‘Crypto Security’ Debate Turns New MiCA Law on Its Head
An EU study published last week has reopened a debate over whether digital assets should be regulated as securities – though lawmakers appear to favor a tailored approach. Source
Can blockchain games really offer a sustainable income?
Blockchain games are mostly played for entertainment, but some developers within the industry think the games could eventually evolve into a form of employment where players can grind out a living wage. Video games using blockchain tech allow players to earn native crypto or nonfungible tokens (NFTs) by playing and participating in activities within the virtual world. Users can then trade or sell their rewards to others and convert them to fiat currency or other crypto, such as Bitcoin (BTC) and Ether (ETH). Known as GameFi and play-to-earn (P2E), these…
SEC Deletes Former Director Hinman’s Biography amidst Ripple vs SEC Case
The US SEC has mysteriously deleted Hinman’s biography from its website ahead of the court’s imminent order to disclose unredacted emails from Hinman’s communications. The United States Securities and Exchange Commission (SEC) erased the biography of former commissioner William Hinman from its website eight days before the court demanded the financial watchdog to provide unedited copies of all of Hinman’s emails in its case against Ripple Labs. Before now, the SEC’s website contained important information about Hinman’s employment history, roles, and advisory contributions to the Commission. However, the updated biography…
SEC Sues Crypto Exchange Coinbase on Unregistered Securities Exchange Allegations
The SEC identified solana (SOL), cardano (ADA), polygon (MATIC), sandbox (SAND), filecoin (FIL), Axie Infinity (AXS), Chiliz (CHZ), flow (FLOW), internet computer (ICP), near (NEAR), voyager (VGX), dash (DASH) and nexo (NEXO) as securities in the suit. Source
SEC sues Coinbase in NY federal court for offering unregistered securities
The United States Securities and Exchange Commission has filed a lawsuit against New York-based crypto exchange Coinbase for offering unregistered securities. The SEC lawsuit alleged that Coinbase has never registered as a broker, national securities exchange or clearing agency, evading the disclosure scheme for securities markets. SEC alleged that several tokens offered by the crypto exchange including Solana (SOL), Cardano (ADA), Polygon (MATIC) Filecoin (FIL), Sandbox (SAND), Axie Infinity (AXS), Chiliz (CHZ), FLOW, ICP, NEAR, VGX, DASH, and NEXO qualify as securities. Today we charged Coinbase, Inc. with operating its crypto asset…
Crypto Markets Stay Down Following SEC Suing Binance
U.S. Bankruptcy Court Judge Sean Lane extended a mediation period between crypto lender Genesis and its creditors at a Monday hearing as tensions flared over the role Genesis’ parent company, Digital Currency Group (DCG), would play in the lender’s restructuring. The period, slated to end last month, will now conclude on June 16. Judge Lane appointed a mediator to steer talks between the insolvent lender and its creditors on May 1 after discussions between the parties broke down earlier this year. “There’s lots of different kinds of conversations that have…
Turbos Finance Launches Smart Routing for Stablecoins on Layer 1 Sui
Turbos is offering a smart routing system on Sui to offer multiple USDC variant liquidity pools, the press release said. “This advancement unlocks the untapped potential of all USDC variants on Sui, irrespective of their origin networks,” said the release. Source
SEC complaint sparks questions on former Binance.US CEO’s sudden departure
The US SEC’s complaint against Binance has unveiled intriguing details surrounding the sudden departure of former Binance.US CEO Brian Brooks in August 2021, merely three months into his tenure. The complaint references an undisclosed source who briefly oversaw Binance.US operations during the same period, coinciding with Brooks’ tenure. Renowned cryptocurrency lawyer James Murphy, popularly known as MetaLawMan on Twitter, shared this revelation in a tweet on June 5. The dates outlined in the complaint align precisely with Brooks’ leadership at Binance.US following his appointment on May 1, 2021, succeeding former…
Cboe Digital Bags CFTC Approval to Trade Bitcoin and Ether Futures
The CFTC has officially given Cboe Digital the approval it needs to offer margined futures contracts trading to clients. Cboe Global Markets’ digital asset exchange has received approval to allow users to trade crypto futures contracts. Customers of the Cboe Digital platform will now trade Ether (ETH) and Bitcoin (BTC) futures contracts later this year following the CFTC’s approval for an amended order of registration. The Commodity Futures Trading Commission (CFTC) gave Cboe Digital approval to financially and physically settle margin contracts from the second half of the year. The…