Tag: SEC

SEC, CPI and a ‘strong rebound’ — 5 things to know in Bitcoin this week

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Bitcoin (BTC) starts a “massive” week in a precarious position as key support stays out of reach for bulls. After fresh losses across crypto markets over the weekend, BTC/USD closed the week below $26,000 for the first time in three months. Both Bitcoin and altcoins continue to struggle thanks to legal battles raging in the United States and their impact on market sentiment. Fragile markets will now encounter a slew of volatility triggers, however, as U.S. macro data releases accompany the next steps in the crypto legal debacle. In what…

Onchain Data Points to Billions in Outflows from Binance Following SEC Lawsuit, CEO CZ Responds

Following reports of increased outflows after news of the lawsuit broke, Binance CEO CZ argued that there was potential for on-chain data to be misinterpreted. Crypto exchange Binance has experienced billions of dollars in outflows over the past week. This is according to on-chain data from various data analytics platforms. The exchange’s CEO Changpeng ‘CZ’ Zhao has argued that such data can be misinterpreted and the situation may not be as dire as it appears. Analytics Data Points to Large Outflows from Binance Following SEC Lawsuit According to major blockchain…

Latin American Crypto Holders Find Alternative in Bitget amid SEC Lawsuit against Binance, Coinbase

The exchange saw a 43% jump in its number of new users from the Latin America region in just three days. Crypto exchange Bitget appears to be gaining a whole lot from the ongoing lawsuits against crypto giants Binance and Coinbase. The fierce rivals are currently in court over allegations by the United State securities and exchange commission (SEC). According to the regulator, the duo might have violated US securities laws while doing their business. Crypto Exchange Bitget Gets Bigger In all of this, however, Bitget has recorded quite a…

SEC can’t keep Western financial system going forever

Crypto.news’ editor Nicholas Ross Say shares his opinion on the US SEC’s recent crusade against crypto that cost the industry millions of dollars. He opines that innovation oppression won’t last forever. Disclosure: The views and opinions expressed here belong solely to the author and do not represent the views and opinions of crypto.news’ editorial. The most valuable asset in the world is innovation. New ideas that create positive results are worth more than anything else to an economy. Today, the United States Securities and Exchange Commission (SEC) is using an…

‘Near impossible to know’ what is and isn’t a security: Mark Cuban on SEC

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Billionaire investor Mark Cuban has become one of the latest industry figures to call out the United States securities regulator for purportedly failing to provide cryptocurrency firms with a clear registration process. The Shark Tank investor claimed in a June 11 Twitter post that no registration exists in the SEC’s “Framework for “Investment Contract” Analysis of Digital Assets” document, making it “near impossible to know” what constitutes a security in the “crypto universe.” “Unfortunately none of the elements presented in this page are part of the registration process. Which makes…

ALGO, FLOW rebound from all-time lows, others rebuff SEC securities label

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The United States securities regulator designated a slate of cryptocurrencies as securities in recent lawsuits including Algorand (ALGO) and Flow (FLOW) which hit all-time price lows following the declaration. On June 10, ALGO and FLOW hit their respective historic lows of $0.098 and $0.46, having dropped around 30% in the past seven days according to CoinGecko data. Both have slightly rebounded since, with ALGO up over 12.5% and FLOW recovering just over 10.5% since June 10. ALGO’s seven-day price chart shows a drop to its all-time low with a slight…

Bitcoin and global crypto market falls after US SEC sued Binance and Coinbase

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During a week marked by heightened regulatory scrutiny, the cryptocurrency industry experienced a significant milestone as the United States Securities and Exchange Commission (SEC) filed charges against Binance and Coinbase. Against the backdrop of a broader regulatory push, the SEC categorized numerous crypto assets as securities in these lawsuits. The market responded to this development with a notable impact, as altcoins posted significant declines, with some retesting 2022 lows.  SEC sues Binance, Changpeng Zhao This week, the United States Securities and Exchange Commission (SEC) took legal action against Binance, one of the…

U.S. Senator Lummis revamps efforts for crypto regulations amid SEC lawsuits

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With the rapid evolution and increasing adoption of cryptocurrencies, the need for regulatory clarity has become paramount. U.S. Senator Cynthia Lummis has said that her efforts to push for a positive regulatory framework are still in motion.  Senator Lummis garnered praise from the crypto community on Twitter as she shared her commitment to developing a regulatory framework that would facilitate digital asset ownership and trading within the United States. Her tweet serves as a reminder of the anticipated bill that was supposed to be released in April. In collaboration with…

US senator revamps efforts for crypto regulations amid SEC lawsuits

With the rapid evolution and increasing adoption of cryptocurrencies, the need for regulatory clarity has become paramount. U.S. Senator Cynthia Lummis has said that her efforts to push for a positive regulatory framework are still in motion.  Senator Lummis garnered praise from the crypto community on Twitter as she shared her commitment to developing a regulatory framework that would facilitate digital asset ownership and trading within the United States. Her tweet serves as a reminder of the anticipated bill that was supposed to be released in April. In collaboration with…

Hong Kong legislator invites Coinbase to the region amid SEC scrutiny

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With its progressive stance on cryptocurrencies, Hong Kong’s legislator invites Coinbase and other crypto exchanges to establish operations in the region, fostering a favorable environment for the industry’s growth. Legislative Council member Johnny Ng took to Twitter, expressing support and offering assistance to crypto trading operators like Coinbase. He also hinted at potential stock listing opportunities. This comes in the wake of the recent SEC lawsuits against major players like Binance and Coinbase. Contrary to the cautious stance adopted by several Western countries towards cryptocurrencies, Hong Kong has embraced a…