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In Monday's filing, Binance.US's attorneys wrote that freezing its funds would "primarily harm BAM’s customers, effectively put BAM out of business, and prevent BAM from defending itself in this litigation," as it could no longer pay its employees, vendors or other parties or even maintain its technology. Source
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The SEC thinks most cryptocurrencies should be classed as securities, and therefore, most crypto companies and trading should fall under its supervision and comply with regulatory frameworks that are currently applied to other securities, the report said. Original Source
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied The Solana Foundation and Polygon Labs are among the latest entities to push back against the U.S. Securities and Exchange Commission’s (SEC) classification of their respective tokens as securities. Solana Foundation and Polygon Labs push back against
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Share Share on Twitter Share on LinkedIn Share on Telegram Copy Link Link copied In a recent Twitter statement, Marc Cuban highlighted the discrepancy in the Securities and Exchange Commission’s (SEC) approach towards the stock loan industry compared to crypto assets. Cuban pointed out that while the SEC labels the stock
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After a period of relative calm, the United States Securities and Exchange Commission (SEC) kicked off its summer crypto crackdown by targeting two major exchanges, Binance and Coinbase.A total of 13 charges have been filed against Binance. One of the allegations in the suit claims that funds from Binance and
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Ongoing regulatory pressure has created a difficult working terrain for the banking partners of Binance.US. Binance.US has told its customers that they may not be able to buy crypto with their US dollars from June 13. The Thursday announcement follows after the Securities and Exchange Commission (SEC) filed a lawsuit against
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Crypto venture capital firm Paradigm has slammed the U.S. Securities and Exchange Commission’s attempt to redefine the term “exchange” — which would if accepted, bring decentralized exchanges under its purview. On June 8, the firm sent a lengthy 14-page letter to the SEC Secretary, Vanessa Countryman, regarding the regulator’s proposed redefinition
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And so, the question is whether Binance can continue business as usual, and whether it can really be – in the long term – a going concern. It’s an odd question, in a way, at least in my limited perspective, given the seriousness of the allegations in the SEC’s suit.
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“Some additional utility does not remove a crypto asset security from the definition of an investment contract,” Gensler said, though he added that tokens built for exclusive use in their blockchain ecosystems can be exempted from such accusations. “The investing public generally buys these crypto assets, at least in part,
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The SEC, in its lawsuit against Coinbase, mentioned Solana (SOL), Cardano (ADA), Polygon (MATIC), Filecoin (FIL), Sandbox (SAND), Axie Infinity (AXS), Chiliz (CHZ), Internet Computer (ICP), Voyager Token (VGX), NEAR protocol (NEAR), NEXO, FLOW and DASH, driving their prices lower. Source
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