Binance and Coinbase: Experts Weigh What’s Coming Next Source
Binance and Coinbase: Experts Weigh What’s Coming Next
Tag: Coinbase
Kraken NFT exits beta, Coinbase ‘Stand with Crypto’ gains support, and more
Kraken NFT marketplace exits its beta phase Crypto exchange Kraken has announced that its nonfungible token (NFT) marketplace has exited its beta phase. Along with the launch, the NFT platform highlighted that it has expanded its number of NFT collections. The platform noted that it went from supporting 70 collections to over 250. According to Kraken, it will continue adding even more collections into its marketplace. We are launching out of BETA! #KrakenNFT is your gateway to buying, selling & learning about NFTs! Browse 250+ collections⛓️ Polygon blockchain IntegrationReddit Collectible…
Regulatory Shockwaves: SEC Charges Against Binance US and Coinbase Explained
In an increasingly digital world, cryptocurrencies have taken center stage, sparking global conversations about their role in financial markets, their potential for innovation, and their regulatory conundrums. Amid this burgeoning industry, two major cryptocurrency platforms, Binance US and Coinbase, have found themselves under intense scrutiny from one of the United States’ top regulatory authorities. The U.S. Securities and Exchange Commission (SEC), a federal agency responsible for enforcing securities laws and regulating the securities industry, has filed a series of charges against both entities. The allegations bring to light significant questions…
Ripple losing SEC case can affect Coinbase and Binance, lawyer says
Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The SEC’s arguments against Coinbase and most of Binance’s litigation would be severely weakened if Judge Torres ruled that XRP tokens purchased on secondary marketplaces are not securities, according to lawyer James Murphy. The SEC claims that Coinbase is acting as an unregistered securities exchange, broker-dealer, and clearing broker because 13 tokens exchanged on the platform constitute securities. However, the SEC’s case against Coinbase would fall apart if these 13 coins were not considered securities. 2/…
Ripple case more crucial than ever amid Coinbase, Binance SEC crackdown: Lawyers
The judges presiding over Coinbase and Binance’s lawsuits will likely watch the results of the SEC v Ripple case closely, crypto lawyers told Cointelegraph. Ripple has been in a legal battle with the SEC since December 2020. The regulator alleges it was offering unregistered securities via XRP (XRP) since 2013. On June 6 the SEC filed a lawsuit against Coinbase also alleging that it has been offering unregistered securities. A day before it filed a lawsuit against Binance containing some similar allegations. Lawyer James Murphy, known as “MetaLawMan” on Twitter,…
Moody’s downgrades Coinbase citing ‘uncertain magnitude’ of SEC charges
Credit ratings agency Moody’s has downgraded its rating of Coinbase from “stable” to “negative” following the SEC’s legal action against the crypto exchange for allegedly operating as an unregistered securities broker. In a June 8 statement, Moody’s said the downgrade was due to concerns about the impact of the SEC action on Coinbase’s day-to-day operations. “The change in outlook to negative from stable reflects the uncertain magnitude of impact the SEC’s charges will have on Coinbase’s business model and cash flows.” Despite the downgrade, Moody’s noted that Coinbase maintains a…
First Mover Asia: Bitcoin Remains Resilient Near $26.5K, Despite Ongoing Binance, Coinbase Fallout
ALSO: Valkyrie’s chief investment officer expects the U.S. central bank to suspend its nearly year-long diet of interest rate increases. That might please digital and other asset markets, but Steven McClurg said that the monetary dovishness is unlikely to continue later this year. Original
Coinbase chief legal officer faces congressional committee following SEC charges against the company
Coinbase Chief Legal Officer, Paul Grewal, wasted no time addressing concerns related to his employer’s recent charges by the Securities and Exchange Commission (SEC). Just hours after the SEC’s allegations of securities law violations against Coinbase, Grewal appeared before the House Agriculture Committee to field questions about cryptocurrency market regulations. Intense scrutiny On June 6, committee members gathered to engage in a session of rigorous questioning, with Grewal being part of a five-witness panel that included other industry representatives and former regulators. Earlier in the day, lawmakers had already subjected…
Coinbase CEO’s stock sale was probably not planned to occur a day ahead of SEC suit
Coinbase CEO and co-founder Brian Armstrong sold company shares the day before the United States Securities and Exchange Commission (SEC) filed a complaint against the exchange for securities law violations. The transaction caused a minor stir in the Twitter cryptoverse, as Armstrong avoided a sharp loss by doing so. SEC records show that Armstrong sold 29,730 shares of the company on June 5, the day before the SEC suit. Coinbase’s share price plummeted the day of the suit, with an initial dip of 20%. Armstrong has been selling Coinbase stock…
SEC’s Gensler Rebuffs Crypto Complaints, Says Gave Ample Warning Before Hitting Binance, Coinbase
“Some additional utility does not remove a crypto asset security from the definition of an investment contract,” Gensler said, though he added that tokens built for exclusive use in their blockchain ecosystems can be exempted from such accusations. “The investing public generally buys these crypto assets, at least in part, anticipating profit based on the efforts of those token issuers.” Source