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Coinbase has the added benefit of having survived the so-called crypto winter, while so many of its rivals disappeared or downsized. Combination showing Former FTX CEO, Sam Bankman-Fried (L) and Zhao Changpeng (R), founder and chief executive officer of Binance. With assets of more than $65 billion on the platform, Binance remains the world's largest crypto exchange globally. watch nowBoth Coinbase and Binance still face legal battles with the Securities and Exchange Commission, which was noticeably absent from the Binance settlement. Regulatory approval would open up many more avenues for people to buy bitcoin.

Persons: Brian Armstrong, Carlos Jasso, Coinbase, Sam Bankman, FTX, Changpeng Zhao, Zhao Changpeng, Binance, Zhao, CoinGecko, Mizuho, it's, CNBC's Joumanna, Armstrong, Bittrex, JPMorgan Chase, Franklin Templeton Organizations: U.S . Securities, Exchange Commission, Bloomberg, Getty, Tech, Reuters, Justice Department, CNBC, Mizuho, Securities and Exchange Commission, U.S, SEC, JPMorgan, WisdomTree Locations: U.S, Binance, Needham, BlackRock, WisdomTree

☆ Binance settlement 'somewhat of a win' for the crypto firm: Swan Bitcoin's head of private clients
▼ + stars: | 2023-11-22 | by ( Talia Kaplan | Kaan Oguz | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBinance settlement 'somewhat of a win' for the crypto firm: Swan Bitcoin's head of private clientsSteven Lubka, Swan Bitcoin's head of private clients & family offices, weighs in on the multi-billion dollar Binance settlement with U.S. government officials, the SEC's lawsuit against Kraken for allegedly operating an unregistered platform and Bittrex Global's announcement that it is shutting down.

Persons: Swan, Steven Lubka, Kraken

Just this week, the SEC sued Kraken, another crypto exchange, alleging that it is operating as an unregistered securities exchange. Binance is exiting the US as part of the agreement the crypto exchange made with law enforcement agencies. That also includes the Justice Department, the Commodity Futures Trading Commission , and the Treasury Department. There is even a National Cryptocurrency Enforcement Team within the Justice Department actively identifying and investigating criminal cases involving digital assets. That is precisely how the feds secured the first ever corporate settlement with a crypto exchange.

Persons: Sam Bankman, Zhao, Binance, Brian Armstrong, Coinbase, ” Armstrong, “, General Merrick Garland, ” Changpeng Zhao, Anthony Kwan, cryptocurrencies, ethereum, Bitcoin, ’, it’s, Ethereum, Treasury Department —, Kraken, Tiffany Hagler, ” Garland, Lisa Monaco, Tuesday’s presser, “ I’ve, Benham Organizations: New, New York CNN, Justice Department, Bloomberg, Getty, Washington DC, US Department of Justice, Department of Justice, Treasury, Securities and Exchange Commission, Treasury Department, SEC, Geard, Futures Trading Commission, Cryptocurrency, feds Locations: New York, United States, Binance, Washington, U.S, “, rulemaking

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBittrex reaches $24 million settlement with the SEC: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Crypto World explains the promises made by Worldcoin, and the growing regulatory scrutiny around the technology.

Persons: explainers Organizations: SEC, CNBC Crypto, CNBC

The seal of the U.S. Securities and Exchange Commission (SEC) is seen at their headquarters in Washington, D.C., U.S., May 12, 2021. REUTERS/Andrew Kelly/File PhotoAug 10 (Reuters) - Bittrex Inc and Bittrex Global have agreed to pay a total of $24 million to settle claims by the U.S. Securities and Exchange Commission, according to a court filing in Seattle federal court on Thursday. Reporting by Jody Godoy Editing by Chris ReeseOur Standards: The Thomson Reuters Trust Principles.

Persons: Andrew Kelly, Jody Godoy, Chris Reese Organizations: U.S . Securities, Exchange Commission, Washington , D.C, REUTERS, Bittrex, Thomson Locations: Washington ,, Seattle

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailFederal judge rules some crypto assets are securities in Do Kwon, Terraform case: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Oliver Linch, CEO and general counsel of Bittrex Global, weighs in on Worldcoin's launch sparking privacy concerns in Europe.

Persons: Kwon, explainers, Oliver Linch Organizations: CNBC Crypto, CNBC, Bittrex Locations: Europe

And, in that same earnings call earlier this year, Novogratz said Galaxy hired some traders based in Hong Kong. Just this week, Societe General 's crypto arm received approval by France's financial regulator to offer crypto services, including crypto assets. The next month, Hong Kong implemented a new licensing regime so crypto exchanges can serve retail customers. Hong Kong, in particular, has tried to position itself as an international hub for crypto. Galaxy Chief Investment Officer Chris Ferraro echoed that sentiment in a recent "Crypto World" interview.

Persons: –, Mike Novogratz, Brian Armstrong, Novogratz, Cantor Fitzgerald's Elliot Han, Dean Sovolos, Lily King, Cobo, Owen Lau, Chris Ferraro, Kraken –, Binance, Han, we're Organizations: BlackRock, SEC, Washington, Galaxy, United, Gemini, Payment, Societe, European Union, Crypto, Assets Regulatory Authority, Financial, Oppenheimer, U.S, Coinbase, Huobi, BTC Locations: U.S, Europe, Hong Kong, Abu Dhabi, Dubai, Bermuda, United Arab Emirates, Asia, Gurgaon, India, Singapore, United States, East, VARA, B2C2, Silicon, London, Berlin, China

The crypto industry is in a tug-of-war with the SEC and its Democratic chair Gary Gensler, who has described the crypto market as a "Wild West" riddled with fraud. Saying most crypto tokens are securities, the SEC has cracked down on crypto trading platforms, including the top U.S. exchange Coinbase, in an effort to bring the industry under its oversight. Crypto firms have long disputed the SEC's jurisdiction but until Thursday no court had supported that view. The two sources, for example, said firms are considering ways to use the Judge's ruling for their defense. However, she also ruled Ripple's direct sales of XRP to investors should have been registered as securities, handing the SEC a partial victory.

Persons: Coinbase, Gary Gensler, Robert Frenchman, Mukasey Frenchman, Analisa Torres, XRP, Crypto, Teresa Goody Guillén, Spokespeople, Binance, Carol Goforth, Stuart Alderoty, Philip Moustakis, Jody Godoy, Chris Prentice, Hannah Lang, Tom Hals, Michelle Price, David Gregorio Our Organizations: U.S . Securities, Exchange Commission, SEC, Ripple Labs, Democratic, Mukasey Frenchman LLP, San Francisco, U.S, District, Baker, Hostetler, University of Arkansas, Reuters, Circuit, Seward, Washington , D.C, Thomson Locations: Mukasey, New York, Washington, New York , Connecticut, Vermont, Washington ,

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBitcoin moves higher after Fed decision, and Binance addresses emergency fund: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Bittrex Global CEO Oliver Linch weighs in on the recent SEC charges against several crypto companies, including Bittrex, and what the regulatory crackdown means for the industry as a whole.

Persons: explainers, Oliver Linch Organizations: CNBC Crypto, CNBC, Bittrex, SEC

The U.S. Securities and Exchange Commission (SEC) on Monday took aim at Binance, the world's largest cryptocurrency exchange. The SEC accuses Binance and its CEO Changpeng Zhao of operating a "web of deception". The SEC said Coinbase traded at least 13 crypto assets that are securities that should have been registered, including tokens such as Solana, Cardano and Polygon. Reuters GraphicsFounded in 2012, Coinbase recently served more than 108 million customers and ended March with $130 billion of customer crypto assets and funds on its balance sheet. Tuesday's SEC lawsuit seeks civil fines, the recouping of ill-gotten gains and injunctive relief.

Persons: Binance, Changpeng Zhao, Kevin O'Brien, Ford O'Brien Landy, Coinbase, Nansen, Paul Grewal, Coinbase's, Ed Moya, bitcoin, Oanda's Moya, Dado Ruvic, Gary Gensler, Gensler, Kristin Smith, Jonathan Stempel, Hannah Lang, Michelle Price, Kevin Buckland, Leslie Adler, Christopher Cushing Organizations: YORK, U.S . Securities, Exchange Commission, SEC, Global Inc, Exchange, REUTERS, Securities, Supreme, Beaxy Digital, Bittrex Global, CNBC, Blockchain Association, Reuters Graphics, U.S, Binance's U.S, Thomson Locations: Manhattan, Solana, Cardano, bitcoin, Binance, Binance.US, Binance's, Cayman Islands, New York, Washington, Tokyo

☆ Crypto Firms Start Looking Abroad as U.S. Cracks Down
▼ + stars: | 2023-06-07 | by ( David Yaffe-Bellany | ) www.nytimes.com time to read: +1 min

Coinbase, the largest crypto exchange in the United States, has opened a business in Bermuda. After years of trying to shape federal regulation in the United States, a growing number of American crypto companies — particularly the exchanges where customers buy and sell digital tokens — are exploring plans to build their businesses abroad. The moves are a response to a growing law enforcement crackdown that has made the United States one of the strictest regulators of crypto in the world. On Tuesday, the Securities and Exchange Commission filed a long-anticipated lawsuit against Coinbase, arguing that the exchange was marketing securities without the proper registration. sued the international crypto exchange Binance, seeking to bar its founder from the U.S. securities market.

Persons: Coinbase Organizations: Gemini, United, Securities and Exchange Commission Locations: United States, Bermuda, New York, United Arab Emirates, Seattle

The U.S. Securities and Exchange Commission on Monday took aim at Binance, the world's largest cryptocurrency exchange. The SEC said Coinbase traded at least 13 crypto assets that are securities that should have been registered, including tokens such as Solana, Cardano and Polygon. More recently, it has taken aim at unregistered crypto broker dealer, exchange trading and clearing activity. Reuters GraphicsFounded in 2012, Coinbase recently served more than 108 million customers and ended March with $130 billion of customer crypto assets and funds on its balance sheet. Tuesday's SEC lawsuit seeks civil fines, the recouping of ill-gotten gains and injunctive relief.

Persons: Binance, Changpeng Zhao, Kevin O’Brien, Ford O’Brien Landy, Coinbase, Nansen, Paul Grewal, Coinbase's, Gary Gensler, Dado Ruvic, Gensler, Kristin Smith, Jonathan Stempel, Hannah Lang, Michelle Price, Lisa Shumaker, Leslie Adler Organizations: YORK, U.S . Securities, Exchange Commission, SEC, Global, Securities, Supreme, Exchange, REUTERS, Beaxy Digital, Bittrex Global, CNBC, Blockchain Association, Reuters Graphics, U.S, Thomson Locations: Manhattan, Solana, Cardano, U.S, Binance, New York, Washington

June 5 (Reuters) - Cryptocurrencies and shares in crypto and blockchain-related companies tumbled on Monday after the U.S. securities regulator sued crypto exchange Binance, another blow to the industry. The SEC crackdown has prompted some crypto companies to increase compliance, spike products, and expand overseas, moves that some marketwatchers said would likely be accelerated by this latest action against the world's largest crypto exchange. In April, the SEC charged crypto exchange Bittrex Inc with operating an unregistered securities exchange, broker and clearing agency, and settled with Kraken in February for $30 million over the exchange's U.S. crypto staking service. Shares of Coinbase (COIN.O) were down 9.1% on the news of the SEC's charges against Binance. Both Coinbase and crypto exchange Gemini launched international exchanges for crypto derivatives in May.

Persons: Binance, Changpeng Zhao, Binance's cryptocurrency, Gary Gensler, marketwatchers, John Reed Stark, Kraken, Bittrex, James Angel, Gemini, Rajeev Bamra, Sinéad Carew, John McCrank, Manya Saini, Hannah Lang, Michelle Price, Leslie Adler, Lisa Shumaker Organizations: U.S . Securities, Exchange Commission, Reuters, SEC, Washington , D.C, Internet, Coinbase Global Inc, Georgetown University, Binance, Inc, Marathon, Mining, Moody’s Investors Service, Thomson Locations: Washington ,, U.S, New York, Bengaluru, Washington

Two crypto platforms, Voyager and Bittrex, have recently declared bankruptcy, and investors no longer have access to their crypto. To keep your crypto safe with other platforms, consider "cold storage," which refers to keeping your crypto offline. The Voyager and Bittrex bankruptcies are part of a prolonged "crypto winter" along with other crypto company bankruptcies of the past year, including FTX, Celsius, and more. Globally, countries are evaluating Central Bank Digital Currencies, the development of which you can track via the Atlantic Council's website. Regardless of the crypto winter and continuing cascade of crypto platform bankruptcies, digital currencies aren't going anywhere anytime soon.

☆ Bittrex approved to borrow $7 mln bankruptcy loan in bitcoin
▼ + stars: | 2023-05-10 | by ( Dietrich Knauth | ) www.reuters.com time to read: +3 min

Seattle-based Bittrex filed for bankruptcy Monday, saying it intended to return customer funds and wind down its U.S. operations. Before filing for bankruptcy, Bittrex stopped accepting new deposits from U.S. customers and told its existing users to withdraw their crypto from the platform. Shannon approved the loan on an interim basis, allowing Bittrex to borrow 250 bitcoin from its parent company Aquila Holdings, which is not filing for bankruptcy. Bittrex will seek permission to borrow an additional 450 bitcoin at a hearing in June, and the total value of its proposed loan is $19.7 million, based on bitcoin prices when it filed for bankruptcy. The case is Bittrex Inc, U.S. Bankruptcy Court for the District of Delaware, No.

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailBittrex files for bankruptcy, and Irish official equates crypto to 'Ponzi schemes': CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Timothy Tully, the CEO of ZelCore, warns the current heavy-handed regulatory approach might force most blockchain innovation overseas.

☆ Crypto exchange Bittrex files for bankruptcy after SEC complaint
▼ + stars: | 2023-05-08 | by ( Dietrich Knauth | ) www.reuters.com time to read: +2 min

May 8 (Reuters) - Cryptocurrency exchange Bittrex Inc filed for bankruptcy protection on Monday, three weeks after the U.S. Securities and Exchange Commission (SEC) accused it of operating an unregistered securities exchange. Seattle-based Bittrex ceased operations in the United States on April 30, and it said the bankruptcy filing would not impact Bittrex Global, which serves customers outside the United States. Bittrex said that it was still holding crypto assets of U.S. customers who did not withdraw funds before April 30. Bittrex has denied the SEC's allegations, saying the crypto assets on its platform were not securities or investment contracts. Bittrex's other largest creditors were mostly customers of the crypto exchange.

☆ Bittrex Files for Bankruptcy After SEC Sues the Crypto Platform
▼ + stars: | 2023-05-08 | by ( Mengqi Sun | Becky Yerak | ) www.wsj.com time to read: 1 min

Bittrex Inc., once among the country’s biggest crypto trading platforms, filed for bankruptcy Monday after being sued by federal securities regulators and winding down its U.S. operations. The Securities and Exchange Commission sued Bittrex last month as the Seattle-based crypto exchange was preparing to exit the American market, citing what it called the difficulty of working with U.S. regulators, The Wall Street Journal reported. Bittrex told its U.S. customers they should withdraw their funds by April 30, when the company shut down its American operations, according to its website.

SEC Chairman Gary Gensler has a message for Coinbase and other crypto exchanges: The rules are clear, and they must be obeyed. In a video posted on Twitter on Thursday, Gensler said that crypto exchanges must treat cryptocurrencies like securities and stop acting as if the regulations are ambiguous. "If you're a securities exchange, clearinghouse, broker, or dealer, you must come into compliance, register with us, and deal with conflicts of interest and disclose important information. Since January, the SEC has taken action against crypto exchanges Bittrex & Gemini, crypto lender Genesis, and a number of individual actors accused of manipulating crypto assets, including crypto entrepreneur Justin Sun and disgraced Terraform Labs founder Do Kwon. "Intermediaries for investment contracts, whether they're exchanges, brokers, dealers, clearinghouses, they need to comply with the securities laws and register with the Securities and Exchange Commission."

☆ 'Crypto is dead in America,' says longtime bitcoin bull Chamath Palihapitiya
▼ + stars: | 2023-04-24 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

"Crypto is dead in America," Palihapitiya said in the latest episode of the All-In podcast. Securities and Exchange Commission Chairman Gary Gensler has said crypto trading platforms should abide by strict U.S. securities laws. "You had Gensler even blaming the banking crisis on crypto," Palihapitiya said. The SEC has ramped up its enforcement of the crypto industry, bearing down on companies and projects that the regulator alleges were selling unregistered securities. In early 2021, Palihapitiya predicted on CNBC that bitcoin would rise from $39,000 at the time to $100,000 and then up to $200,000.

☆ 'Crypto is dead in America' as US regulators target the sector for threatening the establishment, Chamath Palihapitiya says
▼ + stars: | 2023-04-24 | by ( Filip De Mott | ) www.businessinsider.com time to read: +3 min

Crypto is paying the price for challenging the establishment, Chamath Palihapitiya said. "Crypto is dead in America," the so-called SPAC King said recently on the All-In podcast. "Crypto is dead in America," Palihapitiya said. Recent examples of the SEC's enforcement efforts include a February proposal to stop investment advisors from trading in crypto, and the threat of legal action against a number of Coinbase products. Meanwhile, Palihapitiya also lamented the SEC's enforcement rationale, claiming that it is excessively targeting a company that has a history of being regulation-friendly.

☆ Coinbase sues SEC after months of silence from federal regulator
▼ + stars: | 2023-04-24 | by ( Rohan Goswami | In Rohangoswamicnbc | ) www.cnbc.com time to read: +2 min

Crypto exchange Coinbase filed suit against the Securities and Exchange Commission on Monday, asking that the regulator be forced to publicly share its answer to a months-old petition on whether it would allow the crypto industry to be regulated using existing SEC frameworks. The SEC did not offer a specific public response to Coinbase's petition, but in recent months has aggressively ramped up enforcement actions and warnings against crypto exchanges, including Coinbase. "From the SEC's public statements and enforcement activity in the crypto industry, it seems like the SEC has already made up its mind to deny our petition. So the action Coinbase filed today simply asks the court to ask the SEC to share its decision," Coinbase chief legal officer Paul Grewal said in a blog post. "Yet Coinbase and other crypto companies are facing potential regulatory enforcement actions from the SEC, even though we have not been told how the SEC believes the law applies to our business."

☆ SEC Sues Bittrex Crypto Exchange and Former CEO
▼ + stars: | 2023-04-17 | by ( Dave Michaels | ) www.wsj.com time to read: 1 min

Photo: Farrah Skeiky for The Wall Street JournalThe Securities and Exchange Commission’s lawsuit accused Bittrex of operating an illegal securities exchangeWASHINGTON—Securities regulators on Monday sued Bittrex, a crypto exchange that once ranked as the biggest U.S.-based platform for trading digital assets. The Securities and Exchange Commission’s lawsuit, filed in Seattle federal court, accuses Bittrex Inc. of operating an illegal securities exchange, broker-dealer and clearinghouse. The lawsuit hinges on the claim that Bittrex listed digital assets that qualified as securities, which would have required the company to register with the SEC and follow its rules.

April 17 (Reuters) - The U.S. Securities and Exchange Commission on Monday charged cryptocurrency exchange Bittrex Inc and its former CEO William Shihara with operating an unregistered national securities exchange, broker and clearing agency. The SEC also charged Bittrex's foreign affiliate, Bittrex Global GmbH, for failing to register as a national securities exchange in connection with its operation of a single shared order book along with Bittrex. Shihara and a representative for Bittrex did not immediately respond to requests for comment. Seattle-based Bittrex had previously announced it would shutter its U.S. operations effective April 30 due to "continued regulatory uncertainty." Gensler has previously said that companies that help facilitate transactions in the cryptocurrency market should register with the SEC like other market intermediaries.

☆ SEC Targets Bittrex, Fallen Giant of U.S. Crypto Exchanges
▼ + stars: | 2023-04-14 | by ( Dave Michaels | Mengqi Sun | ) www.wsj.com time to read: 1 min

WASHINGTON—Bittrex Inc. once ranked as the country’s biggest platform for trading digital assets. Its rocky history at home is coming to an end with a regulatory threat and a decision to leave the U.S. for good. The Securities and Exchange Commission’s enforcement staff told Bittrex in March it would recommend that the agency sue the company over alleged violations of investor-protection laws, according to David Maria , the company’s general counsel.

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