6/30/2023 0 Comments Crypto alt binance news march 019He noted, “There is no path to ‘come in and register’-we tried, repeatedly-so we don’t list securities. Despite the SEC’s allegations, Armstrong alleged that Coinbase has always strived to comply with the law. He pointed out that the SEC had reviewed Coinbase’s operations and permitted it to become a public company in 2021. In a recent Twitter thread, he countered the SEC’s allegations, expressing his pride in representing the industry in court to clarify crypto rules.Īrmstrong cited a series of key points to back up his confidence in the face of regulatory headwinds. The legal drama saw traders withdraw approximately $600 million in assets from the platform.Īs the legal pressure on Coinbase mounts, the company’s Founder and CEO, Brian Armstrong, has stood his ground. Coinbase didn’t escape unscathed, either. Despite this, a surge of outflows from Binance took place, with a staggering $US700 million in assets moving out of the exchange in the 24 hours following the lawsuit’s announcement. Interestingly, the crypto market has shown signs of steadfastness amid the regulatory scrutiny. In a financial world where the lines are clearly delineated, the SEC alleges that Coinbase was overstepping these boundaries. This second round from the SEC accused Coinbase of operating as an unregistered broker, exchange, and clearing agency. While the market was still digesting the accusations around Binance, the SEC launched a similar attack against Coinbase. The lawsuit claims the accused entities offered unregistered securities to the public through the BNB token and Binance-linked BUSD stablecoin. The US Securities and Exchange Commission (SEC) threw a barrage of allegations against the exchange, its US counterpart Binance.US, and the founder Changpeng “CZ” Zhao. Crypto News: Regulatory Scrutiny Prompts Withdrawalsīinance, a household name among crypto investors, was in the eye of the storm earlier this week. Forbes Advisor Australia accepts no responsibility to update any person regarding any inaccuracy, omission or change in information in our stories or any other information made available to a person, nor any obligation to furnish the person with any further information. However, Forbes Advisor Australia cannot guarantee the accuracy, completeness or timeliness of this website. We make every effort to provide accurate and up-to-date information. While we do go to great lengths to ensure our ranking criteria matches the concerns of consumers, we cannot guarantee that every relevant feature of a financial product will be reviewed. In comparing various financial products and services, we are unable to compare every provider in the market so our rankings do not constitute a comprehensive review of a particular sector. Providing access to our stories should not be construed as investment advice or a solicitation to buy or sell any security or product, or to engage in or refrain from engaging in any transaction by Forbes Advisor Australia. Readers of our stories should not act on any recommendation without first takingĪppropriate steps to verify the information in the stories consulting their independent financial adviser in order to ascertain whether the recommendation (if any) is appropriate, having regard to their investment objectives, financial situation and particular needs. As such, any recommendations or statements do not take into account the financial circumstances, investment objectives, tax implications, or any specific requirements of readers. To the extent any recommendations or statements of opinion or fact made in a story may constitute financial advice, they constitute general information and not personal financial advice in any form. While we may highlight certain positives of a financial product or asset class, there is no guarantee that readers will benefit from the product or investment approach and may, in fact, make a loss if they acquire the product or adopt the approach. When covering investment and personal finance stories, we aim to inform our readers rather than recommend specific financial product or asset classes. The journalists on the editorial team at Forbes Advisor Australia base their research and opinions on objective, independent information-gathering.
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