Coinbase violates securities law, Binance US attacked by SEC too and Cboe received approval for leverage crypto derivatives
Coinbase violated securities laws with staking program
A task force of 10 U.S. state regulators are coming after crypto exchange Coinbase (COIN), alleging it violated state securities laws by offering its staking program to residents.
Coinbase has 28 days to explain to the Alabama Securities Commission (ASC) how it is not violating state securities laws with its staking program, the regulator said on Tuesday. The California Department of Financial Protection and Innovation (DFPI) has meanwhile filed for an order for Coinbase to “desist and refrain from the further offer and sale of securities in California,” while Maryland ordered Coinbase to cease and desist the offering.
The DFPI said it “has issued no permit or other form of qualification authorizing Coinbase to offer or sell securities, including the Coinbase Staking Offerings, in California. Nor are the offers and sales of these securities excepted, exempt, or otherwise not subject to qualification.”
Source: CoinDesk
Binance.US pauses OTC trading, says deposits and withdrawals functioning as normal
Crypto exchange Binance.US said on Wednesday it has decided to pause its over-the-counter trading portal, adding that deposits and withdrawals continue to function as normal.
U.S. regulators sued Binance and its CEO Changpeng Zhao on Monday for allegedly operating a “web of deception”. They claim that Binance is mixing customer funds and urge to freeze this money through a TRO in court.
Source: MSN
Cboe Receives CFTC Approval to Launch Leveraged Crypto Derivatives
Crypto exchange and clearinghouse Cboe Digital will be able to offer margined bitcoin and ether futures contracts with the approval of the U.S. derivatives markets regulator. This will allow its clients to trade cryptocurrency futures with less collateralized capital upfront.
U.S. exchange operator Cboe Global Markets said on Monday that it has been granted regulatory approval by the United States Commodity Futures Trading Commission (CFTC) to offer leveraged derivative products on its Cboe Digital trading platform.
The authorization will permit Cboe to launch physically and financially settled bitcoin and ether margined futures contracts on Cboe Digital in the second half of the year, according to a statement quoted by Reuters and Bloomberg.
Source: Bitcoin.com
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