Blockchain Association CEO Kristin Smith said that while the SEC’s approach to regulation is expected due to its anti-crypto stance, it’s still “unacceptable.“ Update (June 7, 12:05 PM UTC): This article has been updated to add comments from BitMEX CEO Stephan Lutz Professionals across the crypto sector have responded to...
SEC lawsuit against Binance stalls Gopax acquisition deal in South Korea
The country’s financial watchdog claimed it was very difficult to accept the acquisition requests amid accusations of securities laws violations. The United States Securities and Exchange Commission’s (SEC) lawsuit against Binance could damage the crypto exchange’s business opportunities in South Korea.A report published in a South Korean daily suggests that the...
SEC lawsuit claims Binance.US, Changpeng Zhao put customer funds ‘at significant risk’
One of the latest SEC filings in its lawsuit against Binance claims billions of customer funds are at the “mercy” of Binance CEO Changpeng Zhao. The United States Securities and Exchange Commission (SEC) has filed another document in its lawsuit against Binance.US, claiming investors’ funds are at risk.In the filing...
The Philippines delays publishing crypto framework
Despite a tumultuous year, the Philippines’ financial regulator decided not to rush a legal framework on the crypto industry, which was initially planned for late 2022. Despite the wave of market failures in 2022, the Philippines’ financial regulator has decided not to rush a legal framework on the crypto industry,...
Jack Dorsey courts controversy by claiming ETH is a security
Since Binance and Coinbase were sued for offering unregistered securities, Dorsey has tweeted posts promoting a focus on Bitcoin development. Long-time Bitcoin (BTC) advocate Jack Dorsey has found himself in a Twitter war with several crypto industry pundits after he responded with “yes” to a question asking if Ether (ETH)...
SEC’s Gensler claims ‘parallels’ between Binance and FTX, yet one wasn’t sued
“Every major player has been sued by the SEC except for FTX,” several members of the crypto community have noted. The United States securities chair has hinted at “parallels” between crypto exchange Binance and collapsed exchange FTX — namely their alleged use of sister firms to move funds. Speaking to Bloomberg...
SEC, Gensler-themed memecoins surge amid Binance and Coinbase lawsuits
Memecoins that draw their likeness from Gary Gensler and the SEC have rallied significantly since the regulator sued Binance and Coinbase. A number of memecoins drawing their likeness from the United States Securities Exchange Commission (SEC) and its chair Gary Gensler have seen a sharp spike in price following the...
SEC crackdown on Binance and Coinbase surge DeFi trading volumes 444%
Total daily trading volumes on decentralized exchanges have surged by nearly $800 million over the past two days. The median trading volume across the top three decentralized exchanges (DEX) jumped 444% in the past 48 hours as crypto investors reeled from the United States securities regulator's recent legal actions against...
SEC lawsuits squeeze net worths of Coinbase and Binance CEOs
Brian Armstrong and CZ have seen respective net worth losses of 11.8% and 5.1% since the SEC sued Coinbase and Binance. The net worths of Coinbase CEO Brian Armstrong and Binance CEO Changpeng Zhao (CZ) have suffered heavy blows due to recent lawsuits by the United States securities regulator. Armstrong’s...
Binance.US says user funds ‘remain safe’ amid SEC attempt to freeze assets
The U.S.-based exchange said it is “fully operational” and called the Securities and Exchange Commission’s motion “unwarranted.” Crypto exchange Binance.US has attempted to quell possible unrest from its users following a motion from the United States securities regulator seeking to freeze its assets “on an expedited basis.”In a June 6...