Tag: Exchange

‘Institutions Have Entered the Chat’ As CFTC Approves Chicago Board Options Exchange for Leveraged Crypto Products

boss

The Commodity Futures Trading Commission (CFTC) has approved leveraged crypto derivatives products for the Chicago Board Options Exchange (CBOE). According to a press release, the CFTC has given approval to Cboe Clear Digital to provide clearing services for digital asset futures on a margined basis. “The Commodity Futures Trading Commission today approved an amended order of registration for Cboe Clear Digital, LLC (Cboe Clear) to clear additional products, subject to the terms and conditions specified in the order, as a derivatives clearing organization (DCO) under the Commodity Exchange Act. The…

Coinbase Sued By SEC, Regulator Says Crypto Exchange Is Offering Unregistered Securities

boss

A day after suing Binance, the U.S. Securities and Exchange Commission (SEC) has targeted Coinbase in its latest offensive on the crypto industry. In a new press release, the SEC says it’s charging Coinbase for “operating as an unregistered securities exchange, broker, and clearing agency.” The regulator is also charging Coinbase for “failing to register the offer and sale of its crypto asset staking-as-a-service program.” In its 101-page complaint, the SEC says that the crypto assets offered on the  Coinbase Platform, Coinbase Prime, and Coinbase Wallet services are all “crypto…

US SEC Indicts Coinbase over Unregistered Exchange and Broker Platform

The new lawsuit against Coinbase is coming only a few hours after the SEC sued Binance for violation of the same US securities rules. American publicly listed crypto trading platform Coinbase Global Inc (NASDAQ: COIN) has come under the radar of the United States Securities and Exchange Commission (SEC) once again. This time around, Coinbase was indicted in a New York Federal Court earlier today for operating as an unregistered national securities exchange and broker according to the regulator. The lawsuit stated that Coinbase has been operating in this manner…

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

boss

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

boss

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

boss

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

boss

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…