In August, the Treasury Department published its nearly 300-page proposed rule, meant to finally comply with the 2021 Infrastructure Investment and Jobs Act. It sets out reporting obligations for centralized crypto exchanges, payment processors, some hosted wallet providers, some decentralized exchanges and people or entities that redeem crypto tokens. Source
The spot trading volume of Coinbase, one of the largest crypto exchanges in the United States, has dropped by more than half, highlighting a shift in interest in crypto trading. Citing analysis from digital asset data provider CCData, mainstream media outlet Bloomberg reported on Oct. 11 that Coinbase registered around $76 billion in spot trading volume. Compared to its quarterly record for the third quarter of 2022, the new data shows a 52% drop in spot trading for Q3 2023. According to the report, the new numbers are the lowest they’ve…
Digital assets should not be seen as “somehow special,” nor should action against Coinbase be seen as “novel or extraordinary,” argues an association of North American securities regulators. In an Oct. 10 filing in the United States District Court for the Southern District of New York supporting the U.S. Securities and Exchange Commission (SEC), the North American Securities Administrators Association (NASAA) argued that digital assets need not be given any special treatment when it comes to applying securities laws. TradFi grey hairs file Amicus Curiae on behalf *drum roll* the…
Crypto data aggregator CoinGecko released a study on Oct. 10 about the most active cryptocurrency firms, with Coinbase Ventures emerging as the most active. Data in the study showed that the Coinbase Ventures made 144 investments in pre-seed or seed stage and an additional 199 investments at the early stages of Series A or B. Primary backers of the crypto industry The study goes on to show that, in total, the top 23 most active cryptocurrency venture capitalists have been involved in a range of 149 to 372 deals each. …
Blockchain data flagged by Coinbase director Conor Grogan indicates that Alameda Research redeemed over $38 billion for Tether (USDT) tokens in 2021 despite not having the equivalent assets under management. Onchain data shows that Alameda was responsible for minting $39.55B of USDT, a number that is 47% of Tether’s circulating supply today A previous report by Protoss estimated the number at around $36.7B; I was able to update these figures with additional wallets I found pic.twitter.com/fYBvGAYlFd — Conor (@jconorgrogan) October 9, 2023 According to Grogan, the total value of USDT…
Prominent crypto exchange Coinbase has emerged as the second largest ETH staking entity based on a recent scoop by Chinese reporter Colin Wu. This development comes amidst growing concerns about network centralization in regard to Lido’s dominance in the ETH staking market. Coinbase Accounts For 14.1% Of ETH Staking Activity – Report According to Wu, a report from Dragonfly data scientist hildobby, using data from Dune analytics, reveals that Coinbase presently has 3.873 million staked ETH, representing 14.1% of all staked ETH. Coinbase dominance in the ETH staking sphere is only…
Top US crypto exchange Coinbase has been upping its focus on international markets amid regulatory uncertainty stateside, according to the company’s vice president of international policy. While speaking during a recent interview at Zebu Live, Tom Duff Gordon notes that scaling internationally is becoming “more and more important” to the exchange. “We want to work with everybody because we think the US is a really important market. We need to get that [regulatory] clarity. It may not come tomorrow, but I think we are on a good path to kind…
Coinbase is the latest crypto company to secure full regulatory approval in Singapore. The U.S. exchange’s Singaporean arm announced it had received a Major Payment Institution (MPI) license issued by the Monetary Authority of Singapore (MAS), becoming a fully authorized player in Singapore. The platform had secured a temporary licensing exemption from the Singaporean central bank in March 2020. Two years later, in October 2022, Coinbase received an “In Principle” license to operate in the city-state. Moreover, the Republic of Singapore, often viewed as a crypto haven, is no stranger…
With the license approval, Coinbase has now joined the ranks of other crypto companies with full licenses, demonstrating the country’s commitment to fostering a vibrant and well-regulated digital assets ecosystem. Leading American cryptocurrency exchange Coinbase has been granted an operational license in Singapore through its subsidiary to service its customers in the region legally. On October 1, Coinbase announce it received a regulatory nod from the country’s central bank, the Monetary Authority of Singapore (MAS), to operate as a Major Payment Institution (MPI) company. This regulatory milestone allows the US-based…
CryptoX – Cryptocurrency Analysis and News Portal Last week the company attained regulatory approval in Bermuda and registered with Spains central bank. Source The post Coinbase Obtains Payment License in Singapore appeared first on CryptoX. CryptoX Portal