Category: CryptoX News

Do Kwon to face multiple jail terms in South Korea and US

The chief prosecutor in South Korea, leading the case against Terraform Labs CEO Do Kwon, indicated that he might face multiple terms in his home country and the United States. Kwon was recently granted a bail petition by a judge in Montenegro, allowing him to remain free under house arrest while awaiting trial. As the extradition decision is pending, Kwon and Terraform Labs’ CFO Han Chang-Joon is legally obligated to reside at Chang-Joon’s designated residence in Montenegro. Dan Sunghan, speaking to Bloomberg, emphasized that extraditing Kwon to South Korea would…

New UK regulations mandate crypto ads to carry risk warnings

Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The UK’s Financial Conduct Authority (FCA) has introduced new rules requiring crypto firms to include risk warnings in ads and offer a ‘cooling off’ period for novice investors. In a move aimed at strengthening consumer protection in cryptocurrency, the Financial Conduct Authority (FCA), the UK’s financial watchdog, declared that crypto companies must incorporate clear risk warnings in their advertising starting October 8. The new regulations also dictate that these companies offer first-time investors a “cooling off”…

Meet the judges that will preside over Coinbase and Binance’s SEC lawsuits

Court filings have revealed the names of the two United States District Court Judges that will preside over the Coinbase and Binance lawsuits brought against them by the U.S. Securities and Exchange Commission. The case of SEC v Coinbase will be heard by District Court Judge Jennifer H. Rearden in the Southern District of New York, filings show. Meanwhile, District Court Judge Amy Berman Jackson will tackle the case of SEC v Binance in the District of Columbia, according to recent filings. SEC v Coinbase: Judge Jennifer H. Rearden Judge…

Solana price prediction, DeFi exchange, Tradecurve, gearing up for a rally

Solana, initially introduced as a potential competitor to Ethereum, garnered significant attention in the cryptocurrency industry as a promising blockchain platform. However, the platform’s association with the now-bankrupt cryptocurrency exchange, FTX, and network shutdowns in 2022 impacted investor confidence, subsequently influencing the price of its native token, SOL. Despite the challenges faced in the past, SOL prices have shown signs of recovery in 2023, leading the Solana community to anticipate further price gains. Concurrently, the token of Tradecurve, a new decentralized finance (DeFi) exchange, could surge in its ongoing presale.…

US Treasury Secretary Yellen wants more crypto regulation

Amid escalating legal cases against prominent cryptocurrency platforms, Coinbase and Binance, U.S. Treasury Secretary Janet Yellen emphasized the need for stronger regulation to safeguard crypto users and investors. Treasury Secretary Janet Yellen made some remarks on CNBC’s Squawk Box, publicly supporting the U.S. financial regulatory bodies, including the SEC and CFTC, in their quest to keep crypto users and investors safe. This comes in the backdrop of recent legal cases against crypto giants Coinbase and Binance. But she didn’t give any specific comments on these individual lawsuits. Interestingly, her statements…

Brian Armstrong, CEO of Coinbase, talks about SEC compliance

In an interview with Bloomberg, Coinbase CEO Brian Armstrong candidly outlined the challenges and complexities his company has faced in its compliance with regulations in the U.S. According to industry insiders, in the world of cryptocurrency, it is a task to balance the entrepreneurial spirit with the governing authorities. In a recent interview with Bloomberg, Brian Armstrong, CEO of Coinbase, highlighted his journey navigating this complex terrain while striving to get Coinbase, one of the most popular cryptocurrency exchanges, to comply with the U.S. SEC. Armstrong’s pioneering role in the…

Binance.US pauses OTC trading, removes numerous trading pairs

In a move to streamline its buy, sell & convert service, Binance.US has announced a reduction in the number of supported convert trading pairs, bringing the total to 226.  The announcement came amid the complaint filed by the U.S. Securities and Exchange Commission (SEC) on June 5. Responding to the complaint On June 7 Binance.US released a statement announcing the removal of several trading pairs, many of which are popular tokens. The new policyis set to go into effect on Thursday, June 8. However, users can still utilize buy, sell & convert…

Sequoia Capital to divide global business into multiple parts

Sequoia Capital, a venture capital firm, revealed its plans for a upcoming split, where it will divide into three separate partnerships catering to the United States, China, and Asian markets. The announcement was made on June 6 via the firm’s Twitter. A move to restructure Sequoia Capital, a venture capital firm, and supporter of cryptocurrency, has unveiled its plans for a major restructuring. The company will divide its operations into three distinct branches, with its U.S. and European divisions continuing under the existing Sequoia brand. Meanwhile, its arm serving India…

Robinhood Joins Coinbase in Saying It Tried to ‘Come In and Register’ Like U.S. SEC Wanted

“When Coinbase has attempted to do just that, to talk about how we could register as a broker-dealer or an [alternative trading system] or even as a [national securities exchange] after months and months of discussion, we’re simply dismissed with no response or any counter proposal or ideas coming back from the SEC,” said Paul Grewal, Coinbase’s chief legal officer. Source BitcoinCoinbasecryptoexchangeExchangesJoinsregisterRobinhoodSECU.SWanted CryptoX Portal