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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
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Crypto lawyer Collins Belton had tweeted on Monday that “the SEC is alleging that Binance, like Trex, Beaxy, Coinbase, and every other crypto trading platform is essentially operating an unregistered exchange, but also provides clearing services and acts as a [broker-dealer]for its customers, and hasn't registered as any of those.” Source
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Traders have withdrawn funds from Coinbase in two waves, data shows. On Monday, net outflows reached $450 million within an hour following the lawsuit against Binance before stabilizing, according to Nansen data. Withdrawals rose again on Tuesday following the suit against Coinbase, then subsided. At the time of publication, net
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Bitcoin (BTC) recovered some of its lost ground after the June 6 Wall Street open despite new legal action from United States regulators.BTC/USD 1-day candle chart on Bitstamp. Source: TradingViewAnalyst sees Coinbase news marking BTC price lowData from Cointelegraph Markets Pro and TradingView tracked an ongoing rebound for BTC/USD, which reached
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The new lawsuit against Coinbase is coming only a few hours after the SEC sued Binance for violation of the same US securities rules. American publicly listed crypto trading platform Coinbase Global Inc (NASDAQ: COIN) has come under the radar of the United States Securities and Exchange Commission (SEC) once again. This
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I am not going to bore you by quoting chapter and verse on broker-dealer registration requirements. I also won’t go into a detailed Howey analysis on many of the coins mentioned in the complaint – including Solana, ADA, Matic, Filecoin, SAND, AXS, CHZ, FLOW, ICP, NEAR, VGX, DASH, and NEXO.
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The stock of cryptocurrency exchange Coinbase plunged more than 20% at the open on June 6. At the time of publication, shares have pared some losses and are currently trading at $50.14, compared to an intra-day low of $46.43. The company’s market capitalization currently stands at $13.7 billion. The same day, the
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“The legal fight will be long and costly for Coinbase, but it might be difficult to argue and prove that they didn't commingle and unlawfully offer exchange, broker-dealer, and clearinghouse functions,” Edward Moya, a senior markets analyst at Oanda, said. Source
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Representatives from Coinbase, Robinhood, and the Commodity Futures Trading Commission, among others, will speak at a House Agriculture Committee hearing on digital asset regulation about the recently released draft crypto bill. United States legislators put forth a crypto bill to provide clear regulations for cryptocurrency, its users, and companies. The 162-page
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According to the SEC, Coinbase has operated as an unregistered broker, exchange and clearing agency simultaneously, arguing that it solicited customers, handled orders, allowed for bids and acted as an intermediary all at once. The suit named Coinbase, Inc. and Coinbase Global, Inc. as defendants, but did not name founder
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