Tag Archives: sec

Ongoing regulatory pressure has created a difficult working terrain for the banking partners of Binance.US. Binance.US has told its customers that they may not be able to buy crypto with their US dollars from June 13. The Thursday announcement follows after the Securities and Exchange Commission (SEC) filed a lawsuit against the exchange and its founder Changpeng Zhao (CZ) on Monday. SEC insists that Binance had violated the country’s securities laws. The exchange, on the other hand, says...

Binance announced the launch of a new batch of Cloud Mining products for BTC mining in a statement on Wednesday. The exchange’s cloud mining service was released last November and enabled users without mining equipment to earn mining rewards from Binance Pool. Subscriptions, on the other hand, are required to buy hash rates and Bitcoin mining on Binance’s cloud. According to the official blog post, the subscription of the new batch will begin on June 8 and will follow a...

Bittrex’s attempt to return customer funds has met with a significant roadblock from the United States, sparking concerns about the proposed resolution for the crypto exchange’s bankruptcy case. The firm filed for Chapter 11 bankruptcy protection in Delaware in May, less than a month after the US Securities and Exchange Commission (SEC) charged it with operating an unregistered exchange. Two other divisions – Bittrex Malta Ltd. and Bittrex Malta Holdings Ltd. – also filed for...

The overall market cap fell to $1.07 trillion – a level last seen three months ago – before a modest recovery to the press time figure of $1.1 trillion. Bitcoin, for one, dumped close to a two-month-low after weeks of trading largely rangebound in recent months. Several top altcoins posted higher losses prompting concerns about additional market stress. Despite this, on-chain data reflected a bullish picture as investors remained resilient in the face of severe regulatory...

During the winter of 2020, the United States Securities and Exchange Commission fired the first bullet in what would eventually become a dragged-out legal battle against the entire cryptocurrency industry. On December 22nd, 2020, the SEC charged Ripple with conducting a $1.3 billion unregistered security offering, essentially alleging that their native cryptocurrency – XRP – is a security. Two and a half years later, the battle is still raging on, but the proportions are now...

Earn Your First Bitcoin Sign up and get $12 Bonus Referral bonus up to $3,000 Sign up Coinbase is a very large organization. As one of the biggest digital currency trading platforms out there, it didn’t reach its present size and scope by sitting around doing nothing, and now, the company is taking even further action by filing a lawsuit against the Securities and Exchange Commission (SEC) and...

At the time Gensler was offered to be an advisor to Binance, he was teaching at Massachusetts Institute of Technology’s Sloan School of Management. According to the lawyers of Binance and its CEO Changpeng Zhao, SEC chair Gary Gensler was offered to be an advisor to Binance’s parent company in 2019. Interestingly, Gensler has been spearheading the crackdown against the crypto industry over the past year. Binance and other crypto companies are currently under the radar of the US regulator...

The filing by the SEC cites Binance’s operations in Malta with CZ noting that he won’t have to appear in person. As per the lawsuit filed by the US Securities and Exchange Commission (SEC), Binance chief Changpeng Zhao has been summoned to Malta. The SEC has accused the exchange of indulging in shady activities in Malta between 2018 and 2019. Binance chief Zhao cleared the air stating that he won’t need to appear in person to address the summons. “I was told this is just part of the...

Binance is also pausing its OTC Trading Portal services in the US. The exchange said that it will notify users if and when the portal opens in the coming weeks and months.  The US arm of top crypto exchange Binance has removed 10 advanced trading pairs from its platform. In an announcement, the exchange said it would let go of select BTC and BUSD Advanced Trading pairs by 9 am PDT on June 8, 2023. Notably, the company earlier planned to eliminate over 100 crypto assets. The initial...

Coinbase CEO Brian Armstrong spoke at length on Wednesday about his initial reaction to the Securities and Exchange Commission (SEC)’s lawsuit against his exchange. The executive responded to SEC Chairman Gary Gensler’s claims about the market not needing more “digital currency,” and debated whether the SEC is acting in good faith.  An Avalanche of Currencies In an interview with CNBC’s Squawk Box, Armstrong argued that Gensler was in no position to be “picking and choosing”...