“Coinbase has embraced regulation since we were founded over a decade ago,” the cryptocurrency exchange’s chief legal officer Paul Grewal told the United States Congress on June 6. “The SEC [Securities and Exchange Commission] allowed us to become a public company in April 2021, which makes us unique in the crypto industry.” Coinbase was sued
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The United States Securities and Exchange Commission (SEC) filed an emergency motion in the District of Columbia U.S. District Court for a temporary restraining order against Binance, Binance.US and CEO Changpeng Zhao (CZ) on June 6, requesting eight actions. The requested actions include the freezing of the assets of Binance.US and the repatriation of fiat and cryptocurrency
Coinbase CEO Brian Armstrong has responded publicly to the United States Securities and Exchange Commission (SEC) lawsuit against his company, stating in a tweet that the team is “confident in our facts and the law” and that it welcomes the chance “to finally get some clarity around crypto rules” in court. Regarding the SEC complaint
On-chain analytics firm Glassnode published a report hinting that investors are rotating capital toward risk-off assets like stablecoins and Bitcoin. Technicals show that altcoins are at a crucial turning point between a positive and a negative breakout. Glassnode’s analysis of Uniswap and futures trading volumes reveals that the uptrend that began in the first quarter
On June 6, decentralized finance (DeFi) lending platform Defactor Labs said that it tokenized $100 million worth of Alpha Bonds using the ERC-3643 token standard. The bonds, tokenized on the Polygon (MATIC) network, will be lent to small- and medium-sized enterprises using real-world assets, such as receivables, as collateral. Defactor Labs partnered with law firm
If there was ever such a thing as an all-star lineup of regulators, the United States House of Representatives Agricultural Committee’s June 6 hearing on digital asset regulation would probably hold the record. The current chair of the Commodity Futures Trading Commission (CFTC), Rostin Behnam, was joined by a former chair and a former acting
Venture capital firm Sequoia announced an impending split that will see the company break into three distinct partnerships serving the United States, China, and Asian markets separately. The move, announced on June 6, is intended to decentralize back office functions for the company. Citing increased global financial complexity and a growing brand confusion, per a
Bitcoin (BTC) recovered some of its lost ground after the June 6 Wall Street open despite new legal action from United States regulators. Analyst sees Coinbase marking BTC price low Data from Cointelegraph Markets Pro and TradingView tracked an ongoing rebound for BTC/USD, which reached $26,250 on Bitstamp. The pair had dipped to nearly three-month lows
When the U.S. government sanctioned coin mixer Tornado Cash, many thought it might spell the end for illicit crypto mixing services. But they’re back — and with a glossy new institutional sheen and legit use cases to help traders and funds keep their market moves a “trade” secret. Tornado Cash is what is known as
The United States Securities and Exchange Commission has filed a lawsuit against New York-based crypto exchange Coinbase for offering unregistered securities. The SEC lawsuit alleged that Coinbase has never registered as a broker, national securities exchange or clearing agency, evading the disclosure scheme for securities markets. SEC alleged that several tokens offered by the crypto exchange including
As decentralized social media becomes one of the central topics at the Buidl Asia event held in South Korea, Cointelegraph spoke with Ethereum Name Service (ENS) developer Makoto Inoue onlineto find out more about Web3 social media, its potential to replace Web2 and the roles of ENS and the metaverse in this new social media
The United States Securities and Exchange Commission (SEC) has filed charges against Binance, its U.S.-based exchange entity and its CEO, Changpeng “CZ” Zhao, for violating securities laws. On June 5, the SEC filed 13 charges against Binance in the U.S. District Court for the District of Columbia over allegations that the company misled investors and misused
Bitcoin (BTC) circled $25,800 on June 6 as the aftermath of fresh panic over the largest exchange, Binance, lingered. BTC price risks losing multimonth range Data from Cointelegraph Markets Pro and TradingView followed BTC/USD as it steadied after dropping to near three-month lows. The weakness came from a knee-jerk market reaction to the news that
The AI task force advisor to the prime minister in the United Kingdom said humans have roughly two years to control and regulate artificial intelligence (AI) before it becomes too powerful. In an interview with a local UK media outlet Matt Clifford, who also serves as the chair of the government’s Advanced Research and Invention
The SEC lawsuit against Binance on June 5, accusing the crypto exchange of violating various securities laws, had a direct impact on the crypto market as well as the balance sheet of the crypto exchange. According to data shared by crypto analytic firm Nansen, Binance saw a negative netflow of $778 million on the Ethereum
Cryptocurrency exchange Kraken said it investigated an issue with several crypto funding gateways, including major ones such as Bitcoin (BTC), Ether (ETH) and ERC-20 after it experienced delays in operations. On June 6, Kraken’s status page said, “Deposits and withdrawals are currently delayed. We will provide any updates as soon as possible.” The first notice
Developers working on artificial intelligence should be licensed and regulated similarly to the pharmaceutical, medical, or nuclear industries, according to a representative for Britain’s opposing political party. Lucy Powell, a politician and digital spokesperson for the United Kingdom’s Labour Party told The Guardian on June 5 that firms like OpenAI or Google which have created
Members of the United States Congress — Brad Sherman and Stephen Lynch — have penned a letter to the heads of the Treasury and the Internal Revenue Service (IRS), demanding the implementation of tax regulations for the crypto industry. In a letter addressed to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, Congressmen Sherman
Illicit funds gained from the $35 million Atomic Wallet hack have been moving to a crypto mixer known to be favored by North Korea’s most notorious cyber-hacking group. On June 5, blockchain compliance analytics firm Elliptic reported that its Investigations Team has traced funds from the $35 million Atomic Wallet hack to crypto mixer Sinbad.io.
Coinbase, Robinhood, and representatives from the United States commodities regulator are set to testify before Congress on June 6 to discuss a newly proposed crypto bill. The trio will be sharing their firm’s, or agency’s views on a proposed bill that could see certain crypto tokens classified as digital commodities, among other things. “Tomorrow I