Tag: Exchange

How to Build a Compliant Crypto Exchange After The SEC’s Coinbase Suit

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I am not going to bore you by quoting chapter and verse on broker-dealer registration requirements. I also won’t go into a detailed Howey analysis on many of the coins mentioned in the complaint – including Solana, ADA, Matic, Filecoin, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO. The important thing here is that the SEC is seeking, as a remedy, a permanent injunction against Coinbase from operating an unlicensed exchange. If they can get one of the tokens to stick and win at trial, they may be…

After Binance, SEC Sues Coinbase over Illegal Operation of Crypto Exchange

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The Securities and Exchange Commission (SEC) has charged Coinbase, the largest cryptocurrency exchange in the United States, with operating an illegal trading platform that offered unregistered crypto asset securities. The securities watchdog also accused the platform of running a digital asset staking-as-a-service programme without authorization. In a complaint filed before a US district court in New York, SEC further alleged that Coinbase combines the functions of an exchange, brokerage and clearing agency–which are separated under US laws–without registering to engage in these activities. “All the while, Coinbase has earned billions…

Cboe Digital receives nod for margin trades on its crypto futures exchange

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Cboe Digital, a major options exchange in the United States, has had its application to offer margined futures contracts for Bitcoin (BTC) and Ether (ETH) approved by the United States commodities regulator. While Cboe has offered crypto futures contracts since December 2017, margin trades were not available to users. With the new approval, users will be able to trade Bitcoin (BTC) and Ether (ETH) futures with a fraction of what they initially had to put upfront.  The approval has also been seen as a positive step for Cboe as it…

SEC Sues Crypto Exchange Binance, CEO Changpeng Zhao, Binance.US Over Multiple Securities Violation Allegations

Binance, Binance.US and CZ offered unregistered securities to the general public in the form of the BNB token and Binance-linked BUSD stablecoin, said the suit, which also alleges that Binance’s staking service violated securities law. There are similar charges against BAM Trading – the operating company for Binance.US – and Binance itself, including failure to register as a clearing agency, failure to register as a broker and failure to register as an exchange. Source

Spheroid Universe Coin to be Listed on MEXC Exchange

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Spheroid Universe, a futuristic Metaverse that augments the real world in every part of the Earth, is announcing that their token, SPH, will officially be listed on MEXC today, on June 5th. Founded in 2018, MEXC (also known as MEXC Global) is a rapidly-growing cryptocurrency exchange with more than 6 million users in over 200 countries, including the USA, UAE, Canada and Australia. MEXC is regularly featured as one the top exchanges globally for trading volume. The exchange offers one of the widest ranges of cryptocurrencies with over 1,500+ coins…

Centralized Crypto Exchange Gate.io Denies Bankruptcy Rumors Linked to Multichain Troubles

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In response to mounting rumors of imminent bankruptcy, centralized cryptocurrency exchange Gate.io has issued a stern warning of legal action against those responsible for spreading panic among investors. The exchange has categorically denied any connection between its operations and the troubled cross-chain Multichain protocol, which has faced technical difficulties and speculation surrounding its leadership. Gate.io’s statement, initially published on Twitter in Turkish, expressed the exchange’s intention to initiate legal proceedings against individuals who rely on unsubstantiated rumors and gossip without any concrete sources. The exchange seeks to quell the growing…

Brazil’s Largest Crypto Exchange Gains Payments License

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Mercado Bitcoin, the largest cryptocurrency exchange in Brazil, received a payment institution license from the country’s central bank late last week, local media Valor Economico reported. It will enable the crypto exchange to operate as a payment institution under the status of an electronic money issuer. Under the new license, the Brazilian crypto exchange will enhance its fintech offerings under MB Pay. It can provide Brazilian users with digital banking services using held crypto assets, including digital fixed-income investments, staking, and other financial transactions. Additionally, the exchange is planning to…