Coinbase, the largest cryptocurrency exchange in the United States, has dropped its plans to launch its high-yield-generating “Lend” product following the U.S. Securities and Exchange Commission’s threat to sue the exchange if they did. Fast facts Coinbase Chief Legal Officer Paul Grewal disclosed in a blog post earlier this month that the company had received…
In his testimony before the Senate Banking Committee, Gary Gensler, chairman of the U.S. Securities and Exchange Commission, said that Coinbase lists “dozens of tokens that may be securities.” Fast facts In response to Senator Pat Toomey’s questions about whether cryptocurrencies classify as securities, Gensler said “very many” of the cryptocurrencies, including stablecoins, are in…
Ahead of the U.S. Banking Committee’s hearing on the “Oversight of the U.S. Securities and Exchange Commission” today, SEC Chairman Gary Gensler reiterated his call for crypto platforms and projects that have securities to register with the agency. Fast facts In prepared remarks, Gensler emphasized the concerns he sees over the lack of investor protection…
Payments giant Mastercard announced it is extending its reach into the realm of cryptocurrency with the acquisition of CipherTrace, a blockchain analytics startup, for “greater security, transparency and trust to digital assets across the ecosystem.” Fast facts CipherTrace, which calls itself the world’s first blockchain forensics team, provides cryptocurrency tracking and investigation services. It launched an…
Billionaire investor Mark Cuban says Coinbase should “go on the offensive” against the U.S. Securities and Exchange Commission in its feud over high-yield savings account Lend. Brad Garlinghouse, CEO of Ripple — which is itself embroiled in ongoing litigation with the SEC — quipped “Welcome to the party” in a GIF tweet. Fast facts In…
Ripple wants to know how SEC regards Bitcoin, Ether and XRP, but SEC says Ripple is repeating the same questions as ‘they do not like the answers they received.’
Crypto platform CEO claims regulators use ‘intimidation tactics behind closed doors’ by refusing to provide clarity.
In another sign of increasing regulatory pressure on the crypto industry, the U.S. Securities and Exchange Commission is investigating Uniswap Labs, the developer behind the decentralized exchange of the same name, the Wall Street Journal reported on Friday. Fast facts Citing people familiar with the matter, the report said the SEC is seeking information on…
Overruling Ripple’s objections over cost, a judge gives the SEC a green light to review more XRP-related Slack communications.
Singapore-based digital securities exchange ADDX today announced it had reached a US$200 million agreement that will give accredited investors in China access to digital securities covering various asset types, the company said. Fast facts According to a company statement, ADDX has reached an agreement with ICHAM, a Singapore-regulated wealth and fund management company, to be…