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SEC-regulated firm INX only lists five cryptocurrencies on its platform, considering them as non-securities. Amid lawsuits against United States-based exchange s like Coinbase and Binance.US, an exec at a domestic digital asset firm has noted the legal implications of these recent enforcement actions for the industry. The era of trading cryptocurrencies as non-securities is coming to an end, according to Itai Avneri, chief operating officer at the blockchain trading firm INX. Avneri believes that a massive amount of coins offered for trading on crypto exchanges is among core reasons for legal issues. “You cannot continue to trade cryptocurrencies as if they are not securities. Those days are over,” Avneri said in an interview with Cointelegraph on June 19. According to the COO, INX outlined this exact idea in its prospectus five years ago. “It's like we had this crystal ball in our hands,” he added. According to data from CoinGecko, Coinbase has as many as 241 cryptocurrencies lis...

Police and financial regulators in several European countries are collaborating with the US Securities and Exchange Commission (SEC) to unravel more information on Binance, sources close to the matter told Protos. The SEC has been soliciting information on Binance’s activities from several European nation-states for some time and a number of them have been spurred into action after the exchange was indicted by the SEC and accused of commingling funds earlier this month. Other Europe an authorities are still in the process of assessing the complexity of Binance ’s case and are yet to comply with the SEC ’s requests for information. Binance’s opaque European network Like FTX, Binance has dozens if not hundreds of companies registered across the world, many of them in Europe. Apart from having a license to serve as a crypto exchange in countries like France and Cyprus, and in Spain through its subsidiary MoonPay, it has or had other companies registered in the...

According to Chinese reporter, Wu Blockchain “With the recent plummet of altcoins and the relative stability of Bitcoin, the market share of Bitcoin has been close to 50% recently, setting a new high since April 2021.” Historical data shows that the bear markets of 2018 and 2022 saw the BTC market share rise above 50% for an extended period, to the extent of reaching 69%. According to Tradingview, with the recent plummet of altcoins and the relative stability of Bitcoin, the market share of Bitcoin has been close to 50% recently, setting a new high since April 2021. During the bear market period from 2018 to 2022, the Bitcoin market share has… Recommended Articles Crypto Presale Projects For 2023 To Invest; Updated List Must Read Best Crypto Exchange Affiliate Programs In 2023 Must Read ...

According to the release from the SEC, in addition to preventing fraud, the new rules help ward off every form of manipulation and deception in connection with security-based swap transactions. The commission also adopted a “rule to prohibit undue influence over chief compliance officers at certain security-based swap entities.” advertisement With so much responsibility lying on the shoulders of SBS entities’ Chief Compliance Officers, the new rules from the market regulator frowns at any action targeted at coercing or manipulating these officials in the discharge of their duties in line with the extant SEC urities laws. “Any misconduct in the security-based swaps market not only harms direct counter-parties but also can affect reference entities and investors in those reference entities,” said SEC Chair Gary Gensler, “Given these markets’ size, scale, and importance, it is critical that the Commission protect investors an...

This week’s BTC options expiry could play a decisive role in Bitcoin price potentially trading below the $26,000 level. Bitcoin (BTC) price lost steam after a failed rupture of the $27,500 resistance on May 15, putting bears in a better position for the May 19 expiry. The regulatory newsflow likely played a key role in trimming investors’ risk appetite as governments seek more control over the sector. In a memo circulated among committee members, Democrats in the United States legislature sought to cement the SEC’s authority over crypto. The document was made public on May 10, including the argument that nearly all digital assets constitute securities. Moreover, according to Gensler’s view, even network nodes are in violation of securities laws. The United Kingdom’s Treasury Committee “strongly recommended” on May 17 regulating retail crypto trading and investment activity as gambling, consistent with the principle of “same risk, same regulatory outcome.” Treasury Committee Chair Harr...

Notably, the SEC plans to employ this strategy to broaden the market participation in Nigeria. At the same time, the regulator plans to maintain the Central Bank of Nigeria’s stance to not offer cryptocurrency trading to citizens of the nation. advertisement Abdulkadir Abbas, head of SEC urities and investment services at the SEC confirmed the plans of the regulator, saying the commission will “…like to start, as a regulator, with a very simple clear proposal before we go into the complex ones.” As it stands, the watchdog has begun to process applications for digital exchanges on a trial basis. According to the set-out blueprints, these crypto exchanges will go under a one-year regulatory incubation period during which they would be under the close supervision of the SEC. In the course of the one-year regulatory incubation, only a limited range of services would be offered by these entities. In the end, the Nigerian regulator would ...