Circle's Dante Disparte takes a swipe against Tether over the latter's "unsafe, opaque" operations, while Coinbase seemingly resorts to unethical moves in an attempt to save its plummeting revenue.
In this article, ZeMing Gao looks into the amicus brief for Coinbase, why speculation drives regulators to enact securities laws, and how an asset is classified as a security.
The amici group, comprising six "law scholars," argued that for an arrangement to be an investment contract, the investor must receive a contractual undertaking to an enterprise's profits or assets.
Coinbase's Aug. 4 motion with the U.S. District Court for the Southern District of New York argued that the subject matter of the SEC's complaint "falls outside the agency's delegated authority."
Coinbase generated revenue of $707.9 million in the three months ending June 30, a 12.5% decline from the same period last year and 8.3% below the first quarter of 2023.
The SEC wants all publicly listed companies to disclose all their cybersecurity breaches unless they are deemed a national security or public safety risk.
Coinbase CEO Brian Armstrong slams the securities regulator for asking the exchange to halt trading, excluding Bitcoin, saying that doing so would "end the crypto industry in the U.S."
As a result, Dr. Craig Wright’s copyright and database rights case against the BTC partnership—which includes Core developers and entities within the ecosystem such as Coinbase—will proceed on all fronts.
Dr. Craig Wright originally brought claims against the BTC partnership, including its developers and major industry players on three grounds: infringement of Dr. Wright’s database rights over the Bitcoin database, copyright infringement of the Bitcoin white paper and copyright infringement of the Bitcoin file format.
The U.S. Securities and Exchange Commission delivered its latest filing to the federal court overseeing its civil charges against Coinbase for listing and offering unregistered securities to the public.
While the new filings may be seen as a hopeful sign of a spot BTC ETF possibly gaining an approval, a start remark from the SEC says otherwise.
The U.S. securities regulator believes the flurry of ETF applications it has received in recent weeks are “inadequate” and thus not likely to receive the regulator’s stamp of approval, the Wall Street Journal reported.
