US House hearing pumps CFTC, dumps SEC, achieves little
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 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 also alleges that Binance and founder Changpeng Zhao commingled customer assets while moving billions of dollars from its accounts and into various bank accounts ultimately controlled by Zhao.
Charges filed by the SEC against Binance and Coinbase spell trouble for the 'crypto' industry dominated by exchanges that offer assets that amount to securities without proper authorization.
The SEC's charges against Coinbase put the company at a high risk, with Berenberg analyst Mark Palmer projecting that "at least 37%" of the exchange's revenue could be wiped out.
SEC Chairperson Emilio Aquino said that the rules could be launched before the end of 2023, hinging on the addition of proper safeguards for investors.
Republican lawmakers have revealed a proposed digital asset bill that intends to clarify the responsibilities of the SEC and the CFTC in regulating the digital asset industry.
The U.S. Securities and Exchange Commission (SEC) filed 13 charges against Cayman-registered Binance Holdings Ltd, Delaware-registered BAM Trading Services—which operates the U.S.-facing Binance.US digital assets exchange—and Changpeng Zhao.
Genesis and Gemini argued that the alleged ‘securities’ in this case are mere lone agreements being incorrectly characterized by the SEC as securities offerings.
Coinbase has again attacked the U.S. securities regulator for failing to respond to its petition, this time using SEC chair Gary Gensler's recent public speech to convince the court to force the SEC's hand.
Coinbase accuses the SEC of simultaneously claiming that it hasn’t made up its mind on the exchange’s demands while SEC chairman Gary Gensler publicly states that “the rules have already been published.”
The Philippines SEC has issued a warning over ‘Gemini Derivatives,’ a product available on Gemini’s new Foundation platform, which the regulator alleges is violating Filipino securities law.
The nearly $35 million disgorgement was tied to the defendants' role in a Ponzi scheme that took an estimated $100 million from victims before it was busted in early 2022.