In a filing with the U.S. District Court for the Southern District of New York, Coinbase blasted the Securities and Exchange Commission for what it claimed is a broad interpretation of a security when it comes to digital assets.
Digital asset exchange Coinbase issued a blog post on October 17 emphasizing its commitment to “rooting out bad actors seeking to use crypto for illicit purposes.”
The U.S. Bankruptcy Court for the Southern District of New York was informed that Celsius's rank-and-file creditors had voted in favor of a plan, but the vote still needs the approval of the Court.
The U.S. securities regulator has until October 11, 2023, to respond to Coinbase's petition on proposed crypto-specific rules before the Third Circuit move ahead with the ruling.
The Wall Street Journal recently released a video interview with Brian Armstrong the day after the U.S. Securities and Exchange Commission filed a lawsuit accusing Coinbase of operating an unregistered securities exchange, broker and clearing agency.
The new bill aims to carve out clearly defined roles for both the CFTC and the SEC and stop the fight between these two agencies on who takes the lead in regulating digital assets.
The SEC’s response to a U.S. Third Circuit Court of Appeals stated that Coinbase failed to demonstrate that it’s owed “a clear and indisputable right” to a speedier response than normal.
Coinbase filed an official protest of plans by the U.S. SEC to expand the Investment Advisers Act of 1940 custody rules in order to “protect a broader array of client assets and advisory activities.”
The digital asset company has taken legal action against the SEC, asking a federal judge to force the U.S. financial markets regulator to respond to a previous petition for digital asset specific rules.
Vishal Gupta said he would pursue an undisclosed new blockchain-based project, stating in a Twitter thread that it was “time for me to move on” but played coy on his future plans.
U.S. SEC believes it has identified securities violations relating to "aspects of the Company's spot market, staking service Coinbase Earn, Coinbase Prime and Coinbase Wallet" products.
