Brian Armstrong, the CEO of Coinbase, has spoken out against the Securities and Exchange Commission’s (SEC) decision to file a lawsuit against the exchange. The SEC’s charges were filed on allegations that Coinbase was listing securities without registering with the regulatory body. This has led to additional actions from Alabama and New Jersey, which has
Regulation
The U.S. Securities and Exchange Commission (SEC) has filed a motion requesting a restraining order against Binance.US on June 6. The SEC’s request specifically asks the court to freeze the assets of Binance.US’s parent companies, which are collectively operating under the name BAM. The regulator’s motion also seeks to have Binance.US funds returned to customers
SEC Chair Gary Gensler spoke at the Piper Sandler Global Exchange & Fintech Conference on June 8 about the ongoing regulatory issues concerning the cryptocurrency industry. He argued that the crypto community’s insistence on “regulatory clarity” lacks merit and defended his agency’s enforcement actions. Gensler has been straightforward in his approach, rejecting once again the
The U.S. House Committee on Agriculture recently held a meeting to discuss a draft discussion bill on cryptocurrency, which was advanced by Republican lawmakers. The meeting was intended to discuss the bill with Democratic members, and the goal was to create a bipartisan, joint committee legislative proposal. Testimony from Industry Leaders During the meeting, industry
Hong Kong-based Animoca Brands remains unfazed by the Securities and Exchange Commission’s (SEC) recent characterization of the SAND cryptocurrency as a security in its complaints against Binance.US and Coinbase, according to South China Morning Post. Animoca co-founder and chairman Yat Siu stated that the company operates globally and is not overly concerned with what happens
Binance, one of the largest cryptocurrency exchanges, has received charges of securities violations from the US Securities and Exchange Commission (SEC). The charges were filed against Binance CEO Changpeng Zhao and various associated companies on June 5. Support from Huobi Advisor and Former TRON CEO Following the news of the charges, Huobi advisor and former
The Blockchain Association has shown its support for the coin mixer Tornado Cash by filing an amicus brief to support a CoinCenter case that defends the coin mixer. The CEO of the Blockchain Association, Kristin Smith, has stated that Tornado Cash is simply a tool and punishing the tool itself simply because it can be
Rosbank, one of Russia’s leading financial institutions, has announced its plans to become the first major bank to provide cross-border cryptocurrency transactions. The move comes as Rosbank collaborates with B-Crypto, a Russian fintech service that offers a technical solution for customers to participate in digital currency transactions across borders. Rosbank has emphasized that these transactions
On June 2, Republican House members released a draft bill that aims to establish clear roles for regulators in the cryptocurrency industry. The bill is designed to separate the regulation of cryptocurrencies as securities from the regulation of cryptocurrencies as commodities. The Proposed Rules The bill proposes that the U.S. Securities and Exchange Commission (SEC)
Silvergate Bank, which is known for being crypto-friendly, has been instructed to wind down its operations. The Federal Reserve Board issued a consent order to Silvergate Capital Corporation and Silvergate Bank on June 1, 2022. The company had initially announced voluntary self-liquidation on March 8, 2022. Shutdown Plan The order requires Silvergate Bank to submit