, accusing the largest U.S. cryptocurrency platform of operating illegally because it failed to register as an exchange, in another blow to the crypto industry.case against BinanceBoth civil cases are part of SEC Chair Gary Gensler's push to assert jurisdiction over the crypto industry, which he on Tuesday again labeled a "Wild West" that has undermined investor trust in the U.S. capital markets.
Paul Grewal, Coinbase's general counsel, in a statement said the company will continue operating as usual and has "demonstrated commitment to compliance."also on Tuesday accused Coinbase of securities law violations concerning its staking rewards program. 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.
In the staking rewards program, which has about 3.5 million customers, Coinbase pools crypto assets and uses them to support activity on the blockchain network, in exchange for "rewards" it provides customers after taking a commission for itself. Gensler's crypto crackdown has prompted the industry to boost compliance, shelve products and expand outside the country.
Coin Coin Latest News, Coin Coin Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: BTCTN - 🏆 531. / 51 Read more »
Source: YahooNews - 🏆 380. / 59 Read more »