Tag Archives: coinbase

The firm also conducted a survey recently to asses the constructive stance of policymakers towards crypto and Web3 in Singapore. Crypto exchange Coinbase is looking into relocating to Singapore as the United States Securities and Exchange Commission rejects the company’s requests for regulatory clarity. The US SEC recently asked the judge to deny Coinbase’s bid to coerce the agency to answer Coinbase’s rulemaking petition. The petition was submitted last year asking for clarity on how...

Late last month, Coinbase – who had previously been hit with a Wells notice, an informal warning from the SEC usually followed by a lawsuit – asked the courts to force the agency to clearly explain what actions they should take in order to remain compliant. The SEC, on the other hand, remains tight-lipped. Amicable Discussion Preferred According to Brian Armstrong – the CEO of Coinbase – his firm intends to fight the current trend of regulation by enforcement and seeks to...

The regulator argues that it is under no obligation to meet the requirements outlined in Coinbase’s recent petition. The United States Securities Exchange Commission (SEC) has finally replied to Coinbase’s demand for regulatory clarity. Recall that the American exchange recently filed a petition asking the regulator to make clear crypto regulations. In a formal response issued to the court, the SEC insists that it will take its time to come up with regulations. But while the rules may take...

Amidst regulatory tussle, an SEC disclosure revealed an expensive bill for Coinbase CEO Brian Armstrong’s security benefits. The exec was granted security benefits of $6.3 million last year, representing more than triple the amount his security cost Coinbase the previous year. According to the public document, Armstrong’s total compensation for the whole of 2022 was $7.5 million, and received a flat salary of $1 million, while the remaining can be characterized as security...

Pepecoin (PEPE) made quite a significant upheaval in the sluggish crypto market. From less than $1 million at the launch, its market cap swelled close to $2 billion in just weeks. The frog-themed memecoin in the crypto universe dominated by dog-themed coins is bound to trigger funny memes. And one such meme attempt by Coinbase doesn’t seem to have landed well, and the crypto exchange is at the receiving end of a “well-deserved” backlash from PEPE fans and holders. PEPE as a...

The exit of Jane Street and Jump Crypto will contribute to the liquidity crunch in the market segment and this outlook is unhealthy for the industry. Market-making firms Jane Street Group and Jump Crypto are retreating from crypto trading in the United States due to regulatory uncertainty in the country. According to a report from Bloomberg, people familiar with the situation stated that Jane Street is taking a step further by lowering its global cryptocurrency ambitions. On the other...

After pleading guilty earlier this year, former Coinbase Product Manager Ishan Wahi has been sentenced to 2 years in prison in a landmark case for insider trading with cryptocurrencies.  The sentence exceeds the 10-month prison sentence of Ishan’s brother – Nikhil Wahi – with whom he conspired for the crime.  Two Years for Crypto Insider Trading According to a report from Reuters, Ishan Wahi was sentenced by U.S. District Judge Loretta Preska in a Manhattan Federal court on...

Coinbase has called for certain modifications to the proposed rule regarding registered investment advisers’ (RIA) obligations to hold client assets at qualified custodians. Even as the United States Securities and Exchange Commission (SEC) deemed Coinbase Custody as a “qualified custodian,” the crypto exchange believes the revised RIA rule makes “unwarranted assumptions about custodial practice.” Revisions Needed The chief legal officer of the San Francisco-based company,...

America’s largest cryptocurrency exchange Coinbase is considering the United Arab Emirates (UAE) as a potential strategic hub for its international operations. In a Monday blog post, Coinbase’s vice president for international and business development Nana Murugesan disclosed that the exchange is currently in talks with Abu Dhabi Global Market (ADGM) regulators to expand the licensing for the just-launched Coinbase International Exchange. Coinbase to Make UAE a Hub The...

Brian Armstrong, the co-founder and CEO of leading American cryptocurrency exchange Coinbase, believes the U.S. Securities and Exchange Commission (SEC) is on a lone crusade in the push for regulatory clarity in the country, as the agency’s stance on the matter is different from that of Congress and other federal regulators. During a Monday interview with CNBC, the CEO insisted that SEC chair Gary Gensler is attempting to regulate the American digital asset industry from an...