FTX’s former general counsel, Can Sun, has testified in court about the events surrounding the wave of withdrawals in November 2022. He revealed that founder Sam Bankman-Fried asked him to come up with “legal justifications” for the missing billions in customer deposits. This revelation complicates Bankman-Fried’s defense that he believed the appropriation of funds in […]
Coinbase’s Chief Legal Officer, Paul Grewal, is confident that a U.S. Bitcoin exchange-traded fund (ETF) will be approved soon after the Securities and Exchange Commission (SEC) suffered a legal setback. A judge ruled that the SEC had no valid reason to reject Grayscale’s request to convert its GBTC bitcoin fund into an ETF, and the […]
Binance.US, a cryptocurrency exchange, has received support from the US Chamber of Digital Commerce in its ongoing legal battle against the US Securities and Exchange Commission (SEC). The lobbying group argues that the SEC’s claims are misplaced and that its actions are driving crypto businesses away from the US. The SEC has faced criticism for […]
The Chamber of Digital Commerce has joined forces with other digital asset companies, legal entities, and lawmakers to challenge the U.S. Securities and Exchange Commission’s (SEC) lawsuit against Binance. The Chamber argues that the SEC is overstepping its authority by attempting to regulate the crypto industry without explicit direction from Congress. In support of Binance, […]
The U.S. Chamber of Digital Commerce has filed a motion to dismiss the Securities and Exchange Commission’s (SEC) case against Binance, comparing it to suing a grocery store. The lobby group argues that the SEC’s regulatory approach has been “opaque and hostile.” The motion highlights the need for clear regulations in the cryptocurrency industry and […]
Binance, the world’s largest cryptocurrency exchange, has announced that it will be shutting down its crypto card services in the European Economic Area (EEA). This decision comes as Binance faces increasing regulatory pressure in various countries. The exchange’s Visa Debit Card Services, which allow users to convert crypto assets into local fiat currencies for purchases, […]
Coinbase, a leading cryptocurrency exchange, has announced plans to establish its EU MiCA hub in Ireland. This decision comes as Coinbase aims to expand its operations strategically across all 27 European member nations. By choosing Ireland, Coinbase hopes to optimize its current operations and uphold regulatory compliance while introducing more individuals to cryptocurrency. The company […]
In a recent blog post, Coinbase, the largest US-based crypto exchange, has expressed its concern about the flourishing of cryptocurrencies in offshore jurisdictions. The company argues that allowing digital assets to thrive in areas not subject to US laws will only facilitate illicit activities by bad actors. Coinbase emphasizes its commitment to compliance and its […]
New York Attorney General Letitia James has filed a lawsuit against cryptocurrency industry players Gemini Trust, Genesis Global Capital, and Digital Currency Group (DCG). The legal action revolves around Gemini Earn, a joint venture between Genesis and Gemini that promised high returns on cryptocurrency deposits. However, James alleges that these returns were based on misleading […]
