SEC enforcement chief rejects criticism of crypto crackdown
Written by on July 15, 2023
Binance, which was founded by Changpeng Zhao in Shanghai in 2017, has grown to dominate the crypto industry but also faces scrutiny from regulators keen to clamp down on money-laundering.
More recently, regulatory scrutiny has weighed on the sector.
This month, Binance and Coinbase Global, two of the biggest crypto exchanges, were sued by the SEC for allegedly violating its rules, which the pair deny.
VARA was formed in March 2022 to regulate the emerging virtual asset sector in the emirate – excluding the Dubai International Financial Centre financial free zone – as the UAE pushes to become a global hub for the industry.
The moves have revived investor interest in cyptocurrencies, which have been in the doldrums after a series of crypto company meltdowns including the sudden collapse of exchange FTX late last year.
Compounding negative sentiment has been increased regulatory scrutiny, including the U.S. The pair deny the allegations. Securities and Exchange Commission’s move this month to sue crypto giants Coinbase Global and Binance, alleging violation of its rules.
Trading platform Robinhood Markets said the next day that it was delisting three cryptocurrency tokens from its platform that the SEC identified as securities in its lawsuit against Binance.
June 28 (Reuters) – Bankrupt FTX is moving ahead with efforts to revive its flagship international cryptocurrency exchange, the Wall Street Journal reported on Wednesday citing CEO John Ray.
ASIC’s investigation, first confirmed in February, concerns the misclassification of retail investors as wholesale.
The former are entitled to a higher level of regulatory protection.
“Paysafe and Binance are now working to mutually implement an orderly and fair process to terminate this service over the next few months,” Paysafe said in a email to Reuters.
Tether is the largest stablecoin that aims to maintain a 1:1 peg with the U.S.
dollar. Tron is the ninth largest cryptocurrency with a $6.3 billion market value, while ether is the largest after bitcoin, with its $210 billion market capitalization.
The bots eliminate the possibility of human errors in their executed trades.
So, there is no need to worry about executing trades manually.
NEW YORK, June 15 (Reuters) – CoinEx agreed to pay $1.8 million and 币安买帀 be banned from operating in New York to settle state Attorney General Letitia James’ lawsuit accusing the cryptocurrency exchange of operating illegally because it failed to register with the state.
June 15 (Reuters) – BlackRock is close to filing an application for a bitcoin exchange-traded fund (ETF), CoinDesk reported on Thursday, citing a person familiar with the matter.
As the price moves up or down in the grid, the filled orders will be replaced automatically with appropriate buy or sell order. Unlike other strategies which usually rely on technical indicators to create any kind of buy/sell signals, the grid trading strategy makes use of the price action of the market to buy at a low price and selling at a higher price.
And, this could be achieved by placing multiple orders on both sides.
Crude oil edged higher but gains were tempered by a report that the United States and Iran were close to a nuclear deal, although denials from both parties kept it off the previous session’s lows.
Angel investors
While there are established angel investor clubs, they differ from venture capital firms as they represent private investors rather than businesses.
Since it is customary for angel investors to receive a portion of the startup in exchange for their investments, they frequently participate in project management and bring with them valuable advice, guidance, networking opportunities, and visibility.
In a separate 177-page filing denying the SEC’s substantive claims, Coinbase said it “welcomes regulation,” but that the regulator was arbitrarily and without Congress’ permission trying to fill the “regulatory gap” over crypto assets.
June 16 (Reuters) – Cryptocurrency infrastructure provider Wyre is winding down, feeling the pinch of dwindling interest in a market that was once hailed as the next frontier of finance.
June 12 (Reuters) – Binance said in a tweet on Monday it would swap 750 million tether-tron token pairs for tether-ether in an attempt to maintain the stablecoin’s liquidity.
