Binance and Coinbase have both denied the allegations and have accused the SEC of walking away from the firms' efforts to cooperate and come to a resolution. Coinbase has said the agency hardened its stance and became less willing to work with crypto firms in the wake of the FTX scandal in late 2022.
(Reporting by Chris Prentice; Editing by Nick Macfie)
The lawsuit was filed one day after the SEC sued Binance, the world's largest cryptocurrency exchange, accusing it of inflating trading volumes, mishandling customer funds and lying about its operations.
The SEC said in a statement released on Saturday that the emergency relief order secured for Binance.US customers will protect their assets and ensure that they can continue to withdraw those assets.
Binance disputes the SEC charges. customers from its platform. Binance and its CEO Changpeng Zhao were charged last week by the U.S.
Securities and Exchange Commission (SEC) with 13 offences, including operating an unregistered securities exchange and failing to restrict U.S.
In the meantime, the failure of FTX has very negative repercussions for those living in Singapore. According to a Rest of World expert, the Singaporean government invested $275 million in the FTX exchange between the autumn of 2021 and the winter of this year through the state-owned investment vehicle Temasek.
June 29 (Reuters) - Asset manager Fidelity is once again seeking to list and trade shares of its Wise Origin Bitcoin Trust spot bitcoin exchange-traded fund, according to a filing by listing exchange Cboe Global Markets with the U.S.
Securities and Exchange Commission.
BlackRock, the world's biggest asset manager, on Thursday filed for a bitcoin exchange-traded fund (ETF) that would allow investors to get exposure to the cryptocurrency, as the asset class comes under intense regulatory scrutiny.
Spooked by Washington's push, Crypto investor Derek Boirun, who founded Realio, a company mixing real estate and blockchain, posted a "Why I'm leaving the US" piece at website Medium.
U.S.
Attorney Williams said at the press conference that Cohen-Pavon is located abroad and is an Israeli citizen, but declined to comment on whether the former Celsius executive would be extradited.
However, when the supposed 'stablecoin' TerraUSD collapsed, Celsius was left with a large hole on its balance sheet and could not meet customer withdrawals and eventually declared itself bankrupt.
Binance has agreed to repatriate its US customers' assets pending a massive lawsuit against the world's largest crypto exchange, the US Securities and Exchange Commission said Saturday, adding that it will secure the funds.
(Reporting by Manya Saini in Bengaluru; Editing by Devika Syamnath)
Earlier this month, the regulator sued major exchanges Coinbase and Binance in high-profile lawsuits that reverberated through the digital assets industry.
Some market-watchers said the SEC crackdown may be good for bitcoin, which is generally considered a commodity rather than a security, and therefore beyond the SEC's remit.
While the firm lost millions of dollars as customers raced to withdraw funds, Mashinsky and Celsius continued to claim it company was financially secure and had enough funds to meet withdrawals, regulators said.
June 18 (Reuters) - Binance has issued a cease and desist order to "Binance Nigeria Limited", Binance CEO Changpeng Zhao said in a tweet on Sunday, calling the Nigerian company a "scammer entity".
The lawsuits against Binance and peer Coinbase Global underpin SEC Chair Gary Gensler's tough approach towards the industry, but a U.S.
judge recently siding with crypto firm Ripple Labs highlights that the regulator is facing an uphill battle.
LONDON, June 26 (Reuters) - BlackRock's plans for a bitcoin fund have helped push the world's largest cryptocurrency to its highest in a year, but rising interest rates and a regulatory crackdown could choke off the rally, analysts and industry insiders say.
Employees in Binance.US' legal, compliance and risk departments were among those dismissed, the people told Reuters, requesting anonymity because the matter is private.
"If we don't see that regulatory clarity emerge in the US we may have to consider investing learn more elsewhere in the world," Coinbase CEO Brian Armstrong told a conference in London.
"For anything to really get traction, it has to have bipartisan support. "It's not a perfect bill, but it's a really good starting point."
So we're very focused on how we as an organization, and as the industry, can help facilitate that," said Brett Quick, head of government affairs at the Crypto Council for Innovation.
(Reporting by Chris Prentice; Editing by Nick Macfie)
The lawsuit was filed one day after the SEC sued Binance, the world's largest cryptocurrency exchange, accusing it of inflating trading volumes, mishandling customer funds and lying about its operations.
The SEC said in a statement released on Saturday that the emergency relief order secured for Binance.US customers will protect their assets and ensure that they can continue to withdraw those assets.
Binance disputes the SEC charges. customers from its platform. Binance and its CEO Changpeng Zhao were charged last week by the U.S.
Securities and Exchange Commission (SEC) with 13 offences, including operating an unregistered securities exchange and failing to restrict U.S.
In the meantime, the failure of FTX has very negative repercussions for those living in Singapore. According to a Rest of World expert, the Singaporean government invested $275 million in the FTX exchange between the autumn of 2021 and the winter of this year through the state-owned investment vehicle Temasek.
June 29 (Reuters) - Asset manager Fidelity is once again seeking to list and trade shares of its Wise Origin Bitcoin Trust spot bitcoin exchange-traded fund, according to a filing by listing exchange Cboe Global Markets with the U.S.
Securities and Exchange Commission.
BlackRock, the world's biggest asset manager, on Thursday filed for a bitcoin exchange-traded fund (ETF) that would allow investors to get exposure to the cryptocurrency, as the asset class comes under intense regulatory scrutiny.
Spooked by Washington's push, Crypto investor Derek Boirun, who founded Realio, a company mixing real estate and blockchain, posted a "Why I'm leaving the US" piece at website Medium.
U.S.
Attorney Williams said at the press conference that Cohen-Pavon is located abroad and is an Israeli citizen, but declined to comment on whether the former Celsius executive would be extradited.
However, when the supposed 'stablecoin' TerraUSD collapsed, Celsius was left with a large hole on its balance sheet and could not meet customer withdrawals and eventually declared itself bankrupt.
Binance has agreed to repatriate its US customers' assets pending a massive lawsuit against the world's largest crypto exchange, the US Securities and Exchange Commission said Saturday, adding that it will secure the funds.
(Reporting by Manya Saini in Bengaluru; Editing by Devika Syamnath)
Earlier this month, the regulator sued major exchanges Coinbase and Binance in high-profile lawsuits that reverberated through the digital assets industry.
Some market-watchers said the SEC crackdown may be good for bitcoin, which is generally considered a commodity rather than a security, and therefore beyond the SEC's remit.
While the firm lost millions of dollars as customers raced to withdraw funds, Mashinsky and Celsius continued to claim it company was financially secure and had enough funds to meet withdrawals, regulators said.
June 18 (Reuters) - Binance has issued a cease and desist order to "Binance Nigeria Limited", Binance CEO Changpeng Zhao said in a tweet on Sunday, calling the Nigerian company a "scammer entity".
The lawsuits against Binance and peer Coinbase Global underpin SEC Chair Gary Gensler's tough approach towards the industry, but a U.S.
judge recently siding with crypto firm Ripple Labs highlights that the regulator is facing an uphill battle.
LONDON, June 26 (Reuters) - BlackRock's plans for a bitcoin fund have helped push the world's largest cryptocurrency to its highest in a year, but rising interest rates and a regulatory crackdown could choke off the rally, analysts and industry insiders say.
Employees in Binance.US' legal, compliance and risk departments were among those dismissed, the people told Reuters, requesting anonymity because the matter is private.
"If we don't see that regulatory clarity emerge in the US we may have to consider investing learn more elsewhere in the world," Coinbase CEO Brian Armstrong told a conference in London.
"For anything to really get traction, it has to have bipartisan support. "It's not a perfect bill, but it's a really good starting point."
So we're very focused on how we as an organization, and as the industry, can help facilitate that," said Brett Quick, head of government affairs at the Crypto Council for Innovation.