The crypto exchange claimed that none of its listed assets were considered securities, and any potential targeting of its wallet was based on a “misunderstanding” by United States Securities and Exchange Commission officials.
Coinbase could face SEC enforcement action for 'potential violations of securities law' SEC files lawsuit against Tron’s Justin Sun and celebrities over crypto securities offering
Among the celebrities who settled with the Securities and Exchange Commission for their role in promoting TRX and BTT were actress Lindsay Lohan, YouTuber Jake Paul and singer Akon.
US lawmakers reiterate concerns about ‘sham’ crypto firm audits to PCAOB
Two U.S. senators cited the collapse of FTX when writing to Public Company Accounting Oversight Board chair Erica Williams in January, but now suggest improper auditing could have affected three banks as well.
‘No shortage of passion in the Parisian people’ for PBW amid protests — Animoca Brands CEO
As it hosts Paris Blockchain Week, France’s capital city has seen protests following the government pushing through a bill raising the national retirement age from 62 to 64.
Celsius custody account holders can receive 72.5% of their crypto, says bankruptcy judge
Should they opt in to the deal, Celsius customers cannot “pursue any litigation, including seeking relief from the automatic stay, turnover, or other claims or causes of action.”
Texas lawmaker introduces resolution to protect Bitcoin miners and HODLers
The Lone Star State is already home to many crypto and blockchain firms as well as miners taking advantage of the regulatory-friendly environment.
CryptoUK calls on regulators to address de-banking of digital asset firms
The trade association said many banks in the U.K. had begun imposing blanket bans on dealing with crypto firms “instead of taking a risk-based and case-by-case approach.”
IRS calls for public feedback on taxing NFTs as collectibles
Those wishing to offer feedback to the IRS on having NFTs treated as collectibles, such as coins or works of art, have until June 19 to submit comments.
Coinbase pauses support for Signature Bank’s Signet: Report
The U.S. crypto exchange was reportedly looking for another payment network provider and waiting on the outcome of the situation with Signature.
State governor and US presidential hopeful calls for CBDC ban in Florida
“What the central bank digital currency is all about is surveilling Americans and controlling behavior of Americans," said Ron DeSantis at a “Big Brother’s Digital Dollar” podium.
FTX debtors file lawsuit against exchange’s Bahamian arm on ownership of property
The lawsuit claims FTX Digital Markets was an “economic nullity” within the FTX Group “created as a front to facilitate a conspiracy to defraud the Debtors’ customers.”
Congress announces March 29 hearing into failures of SVB and Signature Bank
According to the House Financial Services Committee, it expects to hold multiple hearings on “getting to the bottom” of the banks’ failures.
FTX debtors report $11.6B in claims, $4.8B in assets, with many crypto holdings ‘undetermined’
The presentation reported $25 million in donations — political and otherwise — from three of the FTX silos, but added “limited information” was available on crypto donations.
Coinbase is planning to set up crypto trading platform outside US: Report
The reported move came amid many U.S. lawmakers and regulators taking aim at crypto firms for their perceived role in the failure of three major banks.
‘If a government bans drugs, it should also ban crypto’ — Belgium’s former finance minister
Members of the European Parliament have been discussing the impact of the failure of Silicon Valley Bank, Signature Bank and Silvergate Bank on markets in their jurisdictions.
US lawmaker suggests Signature’s collapse was tied to instability of crypto
Senator Michael Bennet said crypto was not “even as stable as the marijuana industry,” questioning Signature Bank’s ability to service digital asset firms but not dispensaries.
Blockchain Association seeks info from Fed, FDIC and OCC on ‘de-banking’ crypto firms
The association submitted Freedom of Information Act requests as part of an investigation into how regulators’ actions “improperly contributed” to the collapse of three banks.
Crypto firms may turn to ‘shadow banks’ following major collapses — Molly White
Speaking at the SXSW conference in Austin, Molly White compared crypto companies' current predicament to those in 2017 and 2018, when they had “trouble accessing banking.”
Senator Warren says Fed chair 'has to recuse himself' from reviewing regulatory failures
Jerome Powell called for a “thorough, transparent, and swift review” of the Federal Reserve's supervision and regulatory activities following Silicon Valley Bank's closure.
ETHDenver 2023: Cointelegraph afterparty delivers a ‘packed house’ and other notable events
Cointelegraph’s Turner Wright and Rudy Takala discussed the recent events at ETHDenver on the Decentralize with Cointelegraph podcast.
US lawmaker accuses FDIC of using banking instability to attack crypto
The collapse of Signature Bank, Silicon Valley Bank and Silvergate Bank has had many in the space reeling — but is the U.S. government trying to “choke off digital assets”?
Recent contagion was ‘TradFi to crypto’ and not vice versa — Circle policy director
“What happened over the last several days was a bit of an ironic black swan situation where the contagion was not from crypto to TradFi,” said Caroline Hill.
US regulators shut down Signature Bank despite ‘no insolvency’: Report
“Regulators wanted to send a very strong anti-crypto message,” said former House of Representatives member and Signature Bank board member Barney Frank.
Shareholders file lawsuit against Silicon Valley Bank, alleging fraud: Report
The class-action suit was filed against Silicon Valley Bank, CEO Greg Becker and chief financial officer Daniel Beck.
South Dakota gov vetoes bill excluding crypto from definition of ‘money’
The bill, criticized by many conservatives, proposed amending the state’s Uniform Commercial Code to specifically exclude digital assets — with the possible exception of CBDCs.
Investors might have avoided FTX if the SEC had addressed Bitcoin ETFs, says BitGo CEO
According to Mike Belshe, the United States Securities and Exchange Commission’s reluctance to address a “basic” regulatory issue like the issuance of a BTC ETF could have paved the way for FTX’s alleged illicit activities.
House Republicans directly criticize Biden administration for digital asset policies
"Because of actions taken by this Administration, the United States is at risk of pushing the digital asset ecosystem overseas," said Republican Financial Services Committee members.
US REPO task force names crypto as target in efforts involving $58B in sanctioned assets
Members of the task force have worked to “counter Russian sanctions evasion,” which included illicit crypto transactions and money laundering schemes.
Silvergate Capital Corporation will ‘voluntarily liquidate’ Silvergate Bank
The company claimed that the bank's voluntary liquidation is its best path forward due to recent industry and regulatory developments.
Crypto bill draft will be released in April, says Senator Gillibrand
The Lummis-Gillibrand bill is expected to offer regulatory clarity for many crypto projects and determine whether they fall under the purview of the SEC or CFTC.