Binance.US to halt dollar deposits after SEC crackdown

Crypto companies started out in a regulatory gray area, but the SEC under Chair Gary Gensler has steadily asserted its jurisdiction over the industry, arguing most tokens are securities and should be subject to the same disclosure rules.

“The SEC has not said that BTC, ETH, or stablecoins generally are unregistered securities, and those assets account for at least 75% of crypto’s total market cap,” said Alex Thorn, Head of Firmwide Research at Galaxy Digital.

Binance disputes the SEC charges. It is the latest in a string of setbacks for Binance including the June 5 decision by the U.S.

Securities and Exchange Commission (SEC) to charge the company with evading securities laws.

However, he noted that the SEC ‘has not previously taken on such major crypto players’, adding that if the regulator is successful ‘the cryptocurrency industry will be transformed’.

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.

OKX plans to hire 30 staff, Byun said, after opening an office last month in the Dubai World Trade Center in the business and financial hub of the United Arab Emirates.

Griffith said: ‘Fantastic news that Andreessen Horowitz – one of the world’s most successful tech investment firms – has decided to open their first international office in the UK.

There is no more amber.”

And while previously CoinShares tiered marketplaces as red, amber or green, the system is “very simple now,” said Mognetti.

“It’s like red or green.

U.S.

financial regulators this week cracked down on the crypto industry with legal action against Binance, the world’s largest cryptocurrency exchange, and cryptocurrency platform Coinbase.

Whether U.S.

courts accept the SEC’s classification remains to be seen, but the impacts are already being felt – Robinhood Markets has already said it will remove solana, cardano and polygon from its platform. Market participants say other exchanges may follow suit.

Brent crude futures fell by as much as 0.9% at one point, before reversing course to last trade up 0.5% at $76.35 a barrel.

West Texas Intermediate crude was up 0.36% at $71.53 a barrel.

The move comes at a time when the global cryptocurrency industry has been caught in the crosshairs of the U.S.

securities regulator on alleged violations of securities laws.

LONDON, 交易手续费 June 7 (Reuters) – Merit Peak, an offshore trading company controlled by Binance CEO Changpeng Zhao, received around $11 billion of client assets through a Seychelles-based firm set up to take customer deposits, a U.S.

Securities and Exchange Commission filing shows.

Last July, Coinbase disclosed an SEC probe into its asset listing processes, staking programs and yield-generating products.

In the first quarter of this year, Coinbase lawyers had been discussing a potential settlement with the SEC that would involve the company paying a penalty, and provide a path to registering with the agency, a source with knowledge of the discussions said.

Zhao, a billionaire who is one of crypto’s most powerful figures, tweeted on Friday in response to a news story on the French investigation, “FUD” – crypto jargon for news perceived as negative.

“It’s not ‘news’,” Zhao wrote.

“If territories are willing to come up with a balanced clear transparent approach, OKX would like to be regulated and licensed and operate in that jurisdiction,” Byun said.

PARIS, June 16 (Reuters) – Binance, the largest cryptocurrency exchange, is under preliminary investigation by the Paris prosecutors office for both illegal canvassing of clients and aggravated money-laundering, French daily Le Monde reported on Friday.

Major US clampdown on crypto firms

The top US securities regulator sued cryptocurrency platform Coinbase on Tuesday, marking the second lawsuit in two days against a major exchange.

Crypto companies, including Coinbase and Binance, dispute the SEC’s authority, saying many tokens are more akin to commodities, and have repeatedly called for regulators to create clear rules rather than assert their jurisdiction via enforcement actions.

BEUC in its complaint filed on Thursday said the proliferation of misleading advertisements of crypto assets on the social media platforms is an unfair commercial practice as it exposes consumers to serious harm such as the loss of significant amounts of money.