“As Coinbase’s own submissions make clear, considering the various paths it suggests is a necessarily complicated endeavor,” the SEC filing said. “Yet Coinbase filed its rulemaking petition fewer than ten months ago, supplemented aspects of the petition fewer than three months ago, and sought to supplement the record again only weeks ago.” Source CoinbaseCreatingCryptoSpecificHasntProvenRulesSEC CryptoX Portal
The U.S. The Securities Exchange Commission (SEC) has finally given a formal response in court in relation to Coinbase’s petition for clear crypto regulation, stating that any rulemaking may take years and that enforcement actions will continue in the meantime. According to court documents filed on May 15, the SEC argued that it is under no obligation to meet the requirements of Coinbase outlined in its petition, while also arguing that the firm has called for a complex set of reforms and rule-making in an unreasonably short amount of time.…
The chair of the United States Securities and Exchange Commission (SEC) Gary Gensler has hit back at Coinbase’s petition compelling the agency to provide a clear stance on crypto regulation, arguing that there are already adequate laws in place. In a May 15 keynote speech at the Financial Markets Conference, Gensler was asked about the dispute with Coinbase, the rules on crypto and why “the SEC doesn’t publish rules for that market.” In response, Gensler staunchly asserted that “the rules have already been published,” adding that: “To make it quite…
The Coinbase Global Advisory Council will work together with top executives among other regulatory council members for the same common goal. Coinbase Global Inc (NASDAQ: COIN), a leading cryptocurrency exchange that is publicly traded in the United States, has increased its international interest amid regulatory scrutiny in the country. The exchange has in recent years focused on remote-first operations, which has significantly helped counter the Securities and Exchange Commission’s (SEC) fight against crypto. Moreover, the exchange is under the radar of Gary Gensler and his team for apparently offering unregistered…
Top Stories This Week Coinbase calls Pepe a ‘hate symbol,’ prompting calls to boycott the exchange An email sent out to Coinbase customers describing the Pepe the Frog meme as a “hate symbol” co-opted by alt-right groups has drawn significant ire from the PEPE memecoin community this week. Two hours after the email was sent, the hashtag “#deletecoinbase” hit the trending sidebar on Twitter, with over 14,000 comments calling on users to boycott the exchange. Paul Grewal, the Coinbase’s chief legal officer, took to Twitter to respond to the outrage…
The U.S. Chamber of Commerce is supporting Coinbase’s efforts to secure regulatory guidance on crypto assets from the U.S. Securities and Exchange Commission (SEC). The top US crypto exchange filed a motion in court in April to compel the SEC to respond to an earlier petition from the company requesting guidance for the digital asset industry. Coinbase first submitted the petition for rulemaking last July but has yet to hear a “yes” or “no” answer to the request. This week, the Chamber of Commerce submitted a legal document known as an amicus…
Fred Ehrsam, co-founder of Coinbase and managing partner of Paradigm, has increased his stake in the crypto exchange by purchasing $48.8m of COIN shares, demonstrating steadfast confidence despite the stock’s volatile history. Coinbase co-founder buys more shares As per a United States Securities and Exchange Commission (SEC) filing, Ehrsam, who also is also the managing partner at Paradigm, bought COIN worth $48.8m in a series of trades this week. The acquisition saw Ehrsam secure an additional 810,000 Coinbase shares at prices ranging from $59.30 to $63.20 per share. These recent…
Following some of its leadership team visiting the United Arab Emirates, crypto exchange Coinbase has announced the formation of an advisory council staffed with many former United States lawmakers and industry leaders In a May 12 blog post, Coinbase said its Global Advisory Council would aim to navigate the “increasingly complex and evolving” crypto landscape globally. Former Pennsylvania Senator Patrick Toomey, former Ohio Representative Tim Ryan, former New York Representative Sean Patrick Maloney, and other industry insiders will sit on the council and advise the company on crypto policies. According…
On May 9th, 2023, a federal judge in the United States District Court for the Southern District of New York sentenced Ishan Wahi, a former product manager at Coinbase Global, to 24 months in prison for insider trading. Wahi had used confidential information he obtained during his time working at Coinbase to profit off new listings of tokens, totaling up to $1.5 million. The judge, Loretta Preska, sentenced Wahi to two years in prison and ordered him to surrender by June 21st at 2:00 PM ET to serve his sentence…
Paradigm, the crypto investment firm led by Coinbase co-founder Fred Ehrsam, has petitioned to file an amicus brief in support of Coinbase’s case against the United States Securities and Exchange Commission (SEC). In March, Coinbase received a Wells notice from the SEC, potentially leading to the financial regulator taking enforcement action against the U.S.-based crypto exchange. In response, Coinbase filed a complaint against the SEC in April seeking to compel the commission to provide clear regulatory guidelines for crypto firms operating in the country. The May 10 filing from Paradigm…