"Crypto will be regulated soon with the new Market in Crypto Assets Regulation but this legislation does not apply to the social media companies benefiting from the advertising of crypto at the expense of consumers," BEUC Director General Monique Goyens said in a statement.
The lawsuits against Binance and Coinbase Global have increased fears the crypto market's ordeal could be prolonged further after the sector was battered by a string of meltdowns including the bankruptcy of FTX, Binance's biggest competitor, last year.
Nigeria's young, tech-savvy population has eagerly adopted cryptocurrencies, for example using peer-to-peer trading offered by crypto exchanges to avoid the financial sector ban. (Reporting by MacDonald Dzirutwe Editing by Helen Popper )
The U.S.
Securities and Exchange Commission (SEC) on Monday took aim at Binance, the world's largest cryptocurrency exchange. The SEC accuses Binance and its CEO Changpeng Zhao of operating a "web of deception".
The SEC sued Binance and Zhao earlier this month alleging that the company artificially inflated its trading volumes, diverted customer funds, and misled investors about its market surveillance controls.
Binance disputes the SEC charges.
Crypto companies, including Coinbase and Binance, dispute the SEC's authority, saying many tokens are more akin to commodities, and have repeatedly called for regulators to create clear rules rather than assert their jurisdiction via enforcement actions.
U.S.
financial regulators this week cracked down on the crypto industry with legal action against Binance, 币安注册方法 the world's largest cryptocurrency exchange, and cryptocurrency platform Coinbase
>Coinbase Chief Executive Brian Armstrong, an outspoken SEC critic who has led a push in Washington for clearer crypto rules, on Wednesday hit back at Gensler, calling him an "outlier" among Washington policymakers and accusing him of being "icy" when the company approached him about registration
>"Customers who make payments to crypto-currency exchanges are currently facing a significantly higher risk of potentially being scammed," said James Roberts, general manager of CBA's group fraud management services in a statement accompanying the decision
>Shares of Coinbase tumbled on news of the lawsuit, which comes on the heels of charges unveiled Monday against cryptocurrency exchange Binance and founder Changpeng Zhao for numerous alleged securities law violations
>Crude oil edged higher but gains were tempered by a report that the United States and Iran were close to a nuclear deal, although denials from both parties kept it off the previous session's lows
>Fed Chair Jerome Powell said on May 19 it was still unclear if U.S
>interest rates will need to rise further, and the risks of overtightening or undertightening had become more balanced
>A Binance UK unit, Binance Markets Limited, also asked to be removed from the UK's equivalent Financial Conduct Authority (FCA) register
>It was removed on May 30, leaving Binance with no authorised entities in the UK, the FCA's website said
>WASHINGTON, June 8 (Reuters) - The U.S
>Department of Justice should investigate whether cryptocurrency exchange Binance made false statements to Congress in a written response to lawmakers this year, two Democratic U.S. senators said in a letter released on Thursday
>Last week, Binance was sued by the U.S
>Securities and Exchange Commission, which listed 13 charges against the company, Zhao and the operator of its purportedly independent U.S
>Employees in Binance.US' legal, compliance and risk departments were among those dismissed, the people told Reuters, requesting anonymity because the matter is private
>Altana now prioritizes exchanges that allow it to settle and hold its assets with independent third-party custodians such as the UK's Copper and U.S.-based Fireblocks
>Because Binance does not give Altana that option, the hedge fund rarely leaves balances at Binance overnight, said Bouaynaya
>But whether the SEC wins or loses, the suits send a strong signal to the industry that the agency is not going to let up, said executives
>While big crypto companies can afford to fight the SEC, smaller companies have filed for bankruptcy following SEC enforcement actions, including crypto exchange Beaxy
>Elsewhere, the Turkish lira hit a new record low overnight of 23.54 per dollar, even as President Tayyip Erdogan's appointment of a U.S
>banker as central bank chief sent a strong signal for a return to more orthodox policy.
The lawsuits against Binance and Coinbase Global have increased fears the crypto market's ordeal could be prolonged further after the sector was battered by a string of meltdowns including the bankruptcy of FTX, Binance's biggest competitor, last year.
Nigeria's young, tech-savvy population has eagerly adopted cryptocurrencies, for example using peer-to-peer trading offered by crypto exchanges to avoid the financial sector ban. (Reporting by MacDonald Dzirutwe Editing by Helen Popper )The U.S.
Securities and Exchange Commission (SEC) on Monday took aim at Binance, the world's largest cryptocurrency exchange. The SEC accuses Binance and its CEO Changpeng Zhao of operating a "web of deception".
The SEC sued Binance and Zhao earlier this month alleging that the company artificially inflated its trading volumes, diverted customer funds, and misled investors about its market surveillance controls.
Binance disputes the SEC charges.
Crypto companies, including Coinbase and Binance, dispute the SEC's authority, saying many tokens are more akin to commodities, and have repeatedly called for regulators to create clear rules rather than assert their jurisdiction via enforcement actions.
U.S.
financial regulators this week cracked down on the crypto industry with legal action against Binance, 币安注册方法 the world's largest cryptocurrency exchange, and cryptocurrency platform Coinbase
>Coinbase Chief Executive Brian Armstrong, an outspoken SEC critic who has led a push in Washington for clearer crypto rules, on Wednesday hit back at Gensler, calling him an "outlier" among Washington policymakers and accusing him of being "icy" when the company approached him about registration
>"Customers who make payments to crypto-currency exchanges are currently facing a significantly higher risk of potentially being scammed," said James Roberts, general manager of CBA's group fraud management services in a statement accompanying the decision
>Shares of Coinbase tumbled on news of the lawsuit, which comes on the heels of charges unveiled Monday against cryptocurrency exchange Binance and founder Changpeng Zhao for numerous alleged securities law violations
>Crude oil edged higher but gains were tempered by a report that the United States and Iran were close to a nuclear deal, although denials from both parties kept it off the previous session's lows
>Fed Chair Jerome Powell said on May 19 it was still unclear if U.S
>interest rates will need to rise further, and the risks of overtightening or undertightening had become more balanced
>A Binance UK unit, Binance Markets Limited, also asked to be removed from the UK's equivalent Financial Conduct Authority (FCA) register
>It was removed on May 30, leaving Binance with no authorised entities in the UK, the FCA's website said
>WASHINGTON, June 8 (Reuters) - The U.S
>Department of Justice should investigate whether cryptocurrency exchange Binance made false statements to Congress in a written response to lawmakers this year, two Democratic U.S. senators said in a letter released on Thursday
>Last week, Binance was sued by the U.S
>Securities and Exchange Commission, which listed 13 charges against the company, Zhao and the operator of its purportedly independent U.S
>Employees in Binance.US' legal, compliance and risk departments were among those dismissed, the people told Reuters, requesting anonymity because the matter is private
>Altana now prioritizes exchanges that allow it to settle and hold its assets with independent third-party custodians such as the UK's Copper and U.S.-based Fireblocks
>Because Binance does not give Altana that option, the hedge fund rarely leaves balances at Binance overnight, said Bouaynaya
>But whether the SEC wins or loses, the suits send a strong signal to the industry that the agency is not going to let up, said executives
>While big crypto companies can afford to fight the SEC, smaller companies have filed for bankruptcy following SEC enforcement actions, including crypto exchange Beaxy
>Elsewhere, the Turkish lira hit a new record low overnight of 23.54 per dollar, even as President Tayyip Erdogan's appointment of a U.S
>banker as central bank chief sent a strong signal for a return to more orthodox policy.