regulators sued Binance and its CEO Changpeng Zhao on Monday for allegedly operating a "web of deception", piling further pressure on the world's biggest cryptocurrency exchange.
"The solution is legislation that allows fair rules for the road to be developed transparently and applied equally, not litigation. In the meantime, we'll continue to operate our business as usual," Grewal said.
(Reporting by Manya Saini and Shristi Achar A in Bengaluru, Sinéad Carew in New York; editing by Paul Simao)
Regulators allege it's been operating outside of the law through a 'web of deception'" class="blkBorder img-share" />
Binance is a crypto trading platform which allows users to buy and sell digital assets like Bitcoin. Regulators allege it's been operating outside of the law through a 'web of deception'
Regulators allege it's been operating outside of the law through a 'web of deception'" class="blkBorder img-share" style="max-width:100%" />
Satoshi Nakamoto's rebel child is invigorated by the prospect of an ETF that offers investors exposure to spot bitcoin on a regulated U.S.
stock exchange without the hassle of custody.
Coinbase also announced on Friday that it would limit its crypto staking services for retail customers in California, New Jersey, South Carolina and Wisconsin, pending proceedings several states initiated against the exchange last month, claiming that the program violated securities laws.
Bitcoin had struggled to gain traction after a series of crypto company meltdowns, including the sudden collapse of exchange FTX late last year, which authorities say was running a multi-billion dollar fraud.
Binance in August 2022 catapulted the decentralized identity debate to social media platforms after moving to launch its first soulbound token, BAB, serving as users' Know Your Customer credentials also know as KYC.
Other use cases are out there.
"It has been remarkable" said Abrdn emerging market portfolio manager Viktor Szabo. "Roughly half of last year's losses have been made back this year and it has all been in the last couple of months."
The U.S. Securities and Exchange Commission on Monday sued Binance, the world's largest cryptocurrency exchange, and its CEO Changpeng Zhao for secretly controlling Binance.US as part of a "web of deception" to evade U.S.
laws, among other charges.
On Monday, the SEC accused Binance of inflating trading volumes, diverting customer funds, improperly commingling assets, failing to restrict U.S.
customers from its platform, and misleading customers about its controls.
The world's biggest asset manager, BlackRock, filed to launch a bitcoin exchange traded fund last month and Recommended site earlier in July exchange operator Cboe refreshed its filing for a similar fund to be run by asset manager Fidelity.
"The fact that BlackRock, a well-respected and established asset management company, has filed for a Bitcoin ETF could be seen as a positive development in the quest for regulatory approval," said Joshua Chu, group chief risk officer at blockchain technology group XBE, Coinllectibles and Marvion.
The potential of decentralized identities
Managing digital identities may be a challenge, together mistake can easily lead to a breach of personal information. Centralized entities are known targets, with a recent case seeing the private data of Portugal's president stolen in a cyberattack. the utilization of decentralized identities eliminates this risk, as only the users are liable for their data.
"Customers who make payments to crypto-currency exchanges are currently facing a significantly higher risk of potentially being scammed," said James Roberts, general manager of CBA's group fraud management services in a statement accompanying the decision.
Crude oil remained on the back foot after a report that the United States and Iran were close to a nuclear deal, although denials from both parties kept it off the previous session's lows.
Tourist tax is causing irreversible damage: London landlord... MAGGIE PAGANO: Bank of England should keep rates as they are... Boss of drinks giant Diageo Sir Ivan Menezes dies aged 63...
RELATED ARTICLES
Previous
1
Next
Vodafone set to announce mega-merger with Three in move to...
Share this article
Share
HOW THIS IS MONEY CAN HELP
How to choose the best (and cheapest) stocks and shares Isa and the right DIY investing account
In a report today, the FCA found over a third of consumers regretted purchasing cryptoassets, while 46 per cent of people said their investments are now worth less than the initial purchase value.
Investors pull $780 MILLION from Binance after SEC charges
por Edmund Odonnell (19/07/2023)
U.S.regulators sued Binance and its CEO Changpeng Zhao on Monday for allegedly operating a "web of deception", piling further pressure on the world's biggest cryptocurrency exchange.
"The solution is legislation that allows fair rules for the road to be developed transparently and applied equally, not litigation. In the meantime, we'll continue to operate our business as usual," Grewal said.
(Reporting by Manya Saini and Shristi Achar A in Bengaluru, Sinéad Carew in New York; editing by Paul Simao)
Regulators allege it's been operating outside of the law through a 'web of deception'" class="blkBorder img-share" />
Binance is a crypto trading platform which allows users to buy and sell digital assets like Bitcoin. Regulators allege it's been operating outside of the law through a 'web of deception'
Regulators allege it's been operating outside of the law through a 'web of deception'" class="blkBorder img-share" style="max-width:100%" />
Satoshi Nakamoto's rebel child is invigorated by the prospect of an ETF that offers investors exposure to spot bitcoin on a regulated U.S.
stock exchange without the hassle of custody.
Coinbase also announced on Friday that it would limit its crypto staking services for retail customers in California, New Jersey, South Carolina and Wisconsin, pending proceedings several states initiated against the exchange last month, claiming that the program violated securities laws.
Bitcoin had struggled to gain traction after a series of crypto company meltdowns, including the sudden collapse of exchange FTX late last year, which authorities say was running a multi-billion dollar fraud.
Binance in August 2022 catapulted the decentralized identity debate to social media platforms after moving to launch its first soulbound token, BAB, serving as users' Know Your Customer credentials also know as KYC.
Other use cases are out there.
"It has been remarkable" said Abrdn emerging market portfolio manager Viktor Szabo. "Roughly half of last year's losses have been made back this year and it has all been in the last couple of months."
The U.S. Securities and Exchange Commission on Monday sued Binance, the world's largest cryptocurrency exchange, and its CEO Changpeng Zhao for secretly controlling Binance.US as part of a "web of deception" to evade U.S.
laws, among other charges.
On Monday, the SEC accused Binance of inflating trading volumes, diverting customer funds, improperly commingling assets, failing to restrict U.S.
customers from its platform, and misleading customers about its controls.
The world's biggest asset manager, BlackRock, filed to launch a bitcoin exchange traded fund last month and Recommended site earlier in July exchange operator Cboe refreshed its filing for a similar fund to be run by asset manager Fidelity.
"The fact that BlackRock, a well-respected and established asset management company, has filed for a Bitcoin ETF could be seen as a positive development in the quest for regulatory approval," said Joshua Chu, group chief risk officer at blockchain technology group XBE, Coinllectibles and Marvion.
The potential of decentralized identities
Managing digital identities may be a challenge, together mistake can easily lead to a breach of personal information. Centralized entities are known targets, with a recent case seeing the private data of Portugal's president stolen in a cyberattack. the utilization of decentralized identities eliminates this risk, as only the users are liable for their data.
"Customers who make payments to crypto-currency exchanges are currently facing a significantly higher risk of potentially being scammed," said James Roberts, general manager of CBA's group fraud management services in a statement accompanying the decision.
Crude oil remained on the back foot after a report that the United States and Iran were close to a nuclear deal, although denials from both parties kept it off the previous session's lows.
Tourist tax is causing irreversible damage: London landlord... MAGGIE PAGANO: Bank of England should keep rates as they are... Boss of drinks giant Diageo Sir Ivan Menezes dies aged 63...
RELATED ARTICLES
Previous
1
Next
Vodafone set to announce mega-merger with Three in move to...
Share this article
Share
HOW THIS IS MONEY CAN HELP
How to choose the best (and cheapest) stocks and shares Isa and the right DIY investing account
In a report today, the FCA found over a third of consumers regretted purchasing cryptoassets, while 46 per cent of people said their investments are now worth less than the initial purchase value.