🏦 #Binance, the world's largest crypto exchange, faces a lawsuit from the U.S. #CFTC for offering illegal trading products to U.S. residents.
💼 Binance and CZ filed a motion on Thursday, stating the regulator overreached, used inconsistent theories, and made unsound claims.
🌐 Binance argues that they don't operate in the U.S. and their CEO is based in the UAE, challenging the CFTC's jurisdiction.
⚖️ The legal dispute highlights complexities of #cryptocurrency regulations and jurisdiction matters.
🔒 Binance also faces legal challenges from the SEC and increasing regulatory pressure worldwide.
💼 Binance and CZ filed a motion on Thursday, stating the regulator overreached, used inconsistent theories, and made unsound claims.
🌐 Binance argues that they don't operate in the U.S. and their CEO is based in the UAE, challenging the CFTC's jurisdiction.
⚖️ The legal dispute highlights complexities of #cryptocurrency regulations and jurisdiction matters.
🔒 Binance also faces legal challenges from the SEC and increasing regulatory pressure worldwide.
🚨 BREAKING: #Coinbase just got the GREEN LIGHT for #Bitcoin and #Crypto futures trading in the US
1️⃣ Coinbase gains approval from the NFA and #CFTC, becoming a Futures Commission Merchant (FCM), allowing them to offer crypto futures trading to eligible U.S. customers.
2️⃣ This makes Coinbase the first #crypto-native platform to provide both traditional spot crypto trading and regulated leveraged crypto futures within a single integrated solution, promoting regulation and transparency in the industry.
3️⃣ Coinbase's approval showcases its commitment to high consumer protection standards and its effort to drive growth and participation in the crypto derivatives market, potentially impacting global #cryptotrading volume.
4️⃣ The milestone not only establishes a precedent for regulatory compliance in cryptocurrency trading but also boosts Coinbase's standing as a potential partner for spot #Bitcoin #ETF applications.
1️⃣ Coinbase gains approval from the NFA and #CFTC, becoming a Futures Commission Merchant (FCM), allowing them to offer crypto futures trading to eligible U.S. customers.
2️⃣ This makes Coinbase the first #crypto-native platform to provide both traditional spot crypto trading and regulated leveraged crypto futures within a single integrated solution, promoting regulation and transparency in the industry.
3️⃣ Coinbase's approval showcases its commitment to high consumer protection standards and its effort to drive growth and participation in the crypto derivatives market, potentially impacting global #cryptotrading volume.
4️⃣ The milestone not only establishes a precedent for regulatory compliance in cryptocurrency trading but also boosts Coinbase's standing as a potential partner for spot #Bitcoin #ETF applications.
Want to Know How does the ongoing legal battle between #Binance.US and the SEC affect the broader #cryptocurrency industry?🤔
#Binance.US disputes SEC's deposition requests, citing lack of evidence. Legal battles continue, with court awaiting #CFTC responses. Leadership changes raise concerns.
🔥Want to Know More? 🔥Click Below Read This Interesting Article👇
https://coinpedia.org/news/binance-labels-secs-deposition-request-as-excessive-and-unreasonable/
#Binance.US disputes SEC's deposition requests, citing lack of evidence. Legal battles continue, with court awaiting #CFTC responses. Leadership changes raise concerns.
🔥Want to Know More? 🔥Click Below Read This Interesting Article👇
https://coinpedia.org/news/binance-labels-secs-deposition-request-as-excessive-and-unreasonable/
CoinPedia
What Next in Binance vs. SEC Lawsuit: Court Approval, CFTC Response, and More
Binance.US (BAM) has responded to the Securities and Exchange Commission's (SEC) requests for depositions and further discovery with a strong assertion
#CFTC Chairman Behnam warns of #cryptocurrency market risks and regulatory gaps, emphasizing the need for a comprehensive #regulatory strategy.🔥👇
https://coinpedia.org/news/cftc-chair-warns-of-potential-for-another-crypto-market-crash/
https://coinpedia.org/news/cftc-chair-warns-of-potential-for-another-crypto-market-crash/
CoinPedia
FTX-Like Crypto Market Crash Headed Our Way, Warns CFTC Chair
In a recent talk at Georgetown University's Financial Markets Quality Conference 2023, Commodity Futures Trading Commission (CFTC) Chairman Rostin Behnam
#CFTC fines #Binance $10 million, CEO CZ steps down. Analyst Thielen sees positive industry impact, potential for stricter compliance, and #Bitcoin #ETF approval in the US.
https://coinpedia.org/news/cftc-settlement-signals-positive-shift-for-binance-and-crypto-industry-reports/
https://coinpedia.org/news/cftc-settlement-signals-positive-shift-for-binance-and-crypto-industry-reports/
CoinPedia
Binance Settles With CFTC for $60 Million; Good News for the Industry?
In a groundbreaking move, the Commodity Futures Trading Commission (CFTC) and Binance's CEO (CZ) have made a deal that's making waves in the
#Binance settles $4.3 billion with #CFTC for unregistered trading, leading to Zhao's resignation.
CFTC warns globally, signaling a transformative era for U.S. #crypto #regulations with zero tolerance. #cryptonews? https://coinpedia.org/news/crypto-crackdown-cftcs-strong-stance-on-crypto-exchanges/
CFTC warns globally, signaling a transformative era for U.S. #crypto #regulations with zero tolerance. #cryptonews? https://coinpedia.org/news/crypto-crackdown-cftcs-strong-stance-on-crypto-exchanges/
CoinPedia
CFTC’s Crackdown on Crypto Exchanges Is About to Get Stronger; Here’s How
In a major move, the U.S. Commodity Futures Trading Commission (CFTC) has put the spotlight on Binance, the top digital asset trading platform globally.
#Binance, world's largest #cryptoexchange, faces multi-billion penalty from #CFTC for #regulatory non-compliance.
US CFTC's heightened penalties reflect warnings to #crypto firms, emphasizing need for compliance in markets.
https://coinpedia.org/news/why-did-binance-exchange-pay-a-4-3-billion-penalty/
US CFTC's heightened penalties reflect warnings to #crypto firms, emphasizing need for compliance in markets.
https://coinpedia.org/news/why-did-binance-exchange-pay-a-4-3-billion-penalty/
CoinPedia
Why Did Binance Exchange Pay a $4.3 Billion Penalty?
Binance, the world's largest cryptocurrency exchange, received a multi-billion dollar penalty from the US Commodity Futures Trading Commission (CFTC), and
#Binance, led by CEO Richard Teng after #CZ's departure, faces critical #regulatory challenges and scrutiny.
Teng's response to #DOJ, #FinCEN, and #CFTC investigations will redefine Binance's global standing
https://coinpedia.org/news/will-binance-exchange-find-balance-under-richard-tengs-leadership/
Teng's response to #DOJ, #FinCEN, and #CFTC investigations will redefine Binance's global standing
https://coinpedia.org/news/will-binance-exchange-find-balance-under-richard-tengs-leadership/
CoinPedia
Will Binance Exchange Find Balance Under Richard Teng’s Leadership?
Binance, a giant in the industry, is at a critical juncture right now. With Changpeng Zhao (CZ) stepping down as CEO amid legal troubles and a hefty $4.3
#CFTC Chairman reaffirms #cryptocurrencies as commodities, conflicting with SEC's perspective on #crypto tokens as securities.
SEC applies existing laws to crypto, emphasizing enforcement but faces challenges in clear categorization amid debates.
https://coinpedia.org/news/cftc-chairman-reiterates-cryptos-are-commodities-amid-sec-debacles/
SEC applies existing laws to crypto, emphasizing enforcement but faces challenges in clear categorization amid debates.
https://coinpedia.org/news/cftc-chairman-reiterates-cryptos-are-commodities-amid-sec-debacles/
CoinPedia
CFTC Chairman Claims Cryptos Are Commodities, Urges Legal Clarity
The Chairman of the U.S. Commodity Futures Trading Commission (CFTC) has recently reiterated a crucial stance. Amidst ongoing debates and a noticeable
#CFTC responds to #FTX collapse, mandates separation of customer and ( derivatives clearing organizations )DCO funds for #crypto protection.
CFTC enforces rules to prevent fund manipulation, but commissioners express varied concerns on implications.
https://coinpedia.org/news/ftx-disaster-spurs-cftcs-bold-action-major-announcement-on-crypto-regulations/
CFTC enforces rules to prevent fund manipulation, but commissioners express varied concerns on implications.
https://coinpedia.org/news/ftx-disaster-spurs-cftcs-bold-action-major-announcement-on-crypto-regulations/
CoinPedia
FTX Disaster Spurs CFTC’s Bold Action: Major Announcement on Crypto Regulations
FTX case has given a lifetime lesson to all, including the highest regulatory bodies who are planning to protect customer money by laying grounds on
#CFTC warns of #AI-based #crypto scams, emphasizes limitations, and provides considerations for investor protection.
Advisory highlights deceptive tactics, cautions against false claims, and urges reporting of suspicious activities for accountability.
https://coinpedia.org/news/u-s-cftc-uncovers-ai-related-fraud-schemes-resulting-in-1-7-billion-bitcoin-loss/
Advisory highlights deceptive tactics, cautions against false claims, and urges reporting of suspicious activities for accountability.
https://coinpedia.org/news/u-s-cftc-uncovers-ai-related-fraud-schemes-resulting-in-1-7-billion-bitcoin-loss/
Coinpedia Fintech News
U.S. CFTC Uncovers AI-Related Fraud Schemes Resulting in $1.7 Billion Bitcoin Loss
The U.S. Commodity Futures Trading Commission (CFTC) has recently released a customer advisory cautioning the public about crypto scams involving
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Treasury Secretary Janet Yellen urges Congress for new #crypto laws to address systemic risks.
⚡️Proposed legislation focuses on regulating #stablecoins and non-securities crypto assets spot market.
⚡️ Yellen highlights concerns about stablecoins growth, money laundering, and their impact on #financial stability.
⚡️ Bipartisan deadlock slows crypto legislation; regulatory disagreement persists between #SEC and #CFTC.
⚡️ Yellen proposes a federal regulator for stablecoins and stresses the need for protections for stablecoin holders.
⚡️Proposed legislation focuses on regulating #stablecoins and non-securities crypto assets spot market.
⚡️ Yellen highlights concerns about stablecoins growth, money laundering, and their impact on #financial stability.
⚡️ Bipartisan deadlock slows crypto legislation; regulatory disagreement persists between #SEC and #CFTC.
⚡️ Yellen proposes a federal regulator for stablecoins and stresses the need for protections for stablecoin holders.
Grayscale's CLO Craig Salm optimistic about approval of spot #EthereumETF, drawing parallels with #BitcoinETFs.
Industry leaders like #Coinbase's Paul Grewal and ex-#CFTC Commissioner Brian Quintenz support #Ethereum #ETF approval.
https://coinpedia.org/news/ethereum-etf-approval-is-inevitable-says-grayscales-clo/
Industry leaders like #Coinbase's Paul Grewal and ex-#CFTC Commissioner Brian Quintenz support #Ethereum #ETF approval.
https://coinpedia.org/news/ethereum-etf-approval-is-inevitable-says-grayscales-clo/
CoinPedia
Ethereum ETF Approval is Inevitable Says Grayscale’s CLO
Craig Salm, Chief Legal Officer (CLO) at Grayscale, expressed optimism stating that the “case is just as strong as it was for spot Bitcoin ETFs”, despite
#CFTC sues #KuCoin for alleged violations of Commodity Exchange Act, including illegal commodity transactions and #KYC failure.
KuCoin denies accusations, faces severe penalties; parallel criminal charges complicate legal situation, impacting #investor sentiment. #Crypto
https://coinpedia.org/news/cftcs-declaration-ethereum-and-bitcoin-classified-as-commodities-in-kucoin-lawsuit/
KuCoin denies accusations, faces severe penalties; parallel criminal charges complicate legal situation, impacting #investor sentiment. #Crypto
https://coinpedia.org/news/cftcs-declaration-ethereum-and-bitcoin-classified-as-commodities-in-kucoin-lawsuit/
CoinPedia
KuCoin Lawsuit: Bitcoin, Ethereum, Litecoin Status Under Scrutiny by CFTC?!
Things continue to take a dramatic turn in the crypto space! Now, the Commodity Futures Trading Commission (CFTC) has taken aim at KuCoin, a major digital
#Litecoin price surged past $100 amid #bullish activity ahead of monthly close, aiming for $150.
Speculation arises about $LTC reaching $200 before #Bitcoin #halving; recent #CFTC declaration supports bullish sentiment.
https://coinpedia.org/price-analysis/litecoin-barges-through-100-ahead-of-quarterly-close-has-the-race-to-200-just-began/
Speculation arises about $LTC reaching $200 before #Bitcoin #halving; recent #CFTC declaration supports bullish sentiment.
https://coinpedia.org/price-analysis/litecoin-barges-through-100-ahead-of-quarterly-close-has-the-race-to-200-just-began/
CoinPedia
Litecoin Barges Through $100 Ahead of Quarterly Close: Has the Race to $200 Just Began?
Litecoin price maintained significant strength and soared past $100 during the previous day’s close as bulls became extremely active ahead of the monthly close. With Bitcoin halving on the cards, the majority of the altcoins, including Litecoin, are expected…
Top #CryptoNews of Past 12 Hours
1️⃣ Matthew Sigel stated that launching a spot #SolanaETF depended on the 2024 presidential election outcome.
2️⃣ In June, #Fed officials saw improving inflation, held off rate cuts, noted cooling economic growth.
3️⃣ The U.S. #CFTC confirmed Bitcoin, Ethereum, OHM, ad Klima as commodities, regulating their futures trading.
4️⃣ #Uniswap team moved 2.359M UNI ($20.2M) to Coinbase Prime, holding 6.64M UNI ($56.77M) now.
5️⃣ On July 3, #Bitcoin spot ETFs had $20.4495M outflow; GBTC outflow was $26.9947M.
6️⃣The Russian government is exploring legalizing #stablecoins for international transactions to streamline cross-border payments.
1️⃣ Matthew Sigel stated that launching a spot #SolanaETF depended on the 2024 presidential election outcome.
2️⃣ In June, #Fed officials saw improving inflation, held off rate cuts, noted cooling economic growth.
3️⃣ The U.S. #CFTC confirmed Bitcoin, Ethereum, OHM, ad Klima as commodities, regulating their futures trading.
4️⃣ #Uniswap team moved 2.359M UNI ($20.2M) to Coinbase Prime, holding 6.64M UNI ($56.77M) now.
5️⃣ On July 3, #Bitcoin spot ETFs had $20.4495M outflow; GBTC outflow was $26.9947M.
6️⃣The Russian government is exploring legalizing #stablecoins for international transactions to streamline cross-border payments.
🚨 Big News in Crypto Regulation! 🚨
CFTC Chairman Behnam announces that an Illinois court has officially classified Bitcoin and Ethereum as digital commodities under the Commodity Exchange Act! 🎉 This significant ruling places $BTC and $ETH under CFTC jurisdiction, contrasting SEC Chairman Gensler's view that 70-80% of cryptocurrencies are securities.
Behnam's call for legislative measures to enhance CFTC oversight and investor protections shows a proactive approach to balancing regulation and innovation. This decision sets a precedent for the future and could boost market confidence and growth.
Stay tuned as we navigate this exciting and evolving DeFi landscape! 🌐💡 #Crypto #Bitcoin #Ethereum #Regulation #CFTC #SEC #DeFi
https://coinpedia.org/news/cftc-chairman-declares-btc-and-eth-are-not-securities/
CFTC Chairman Behnam announces that an Illinois court has officially classified Bitcoin and Ethereum as digital commodities under the Commodity Exchange Act! 🎉 This significant ruling places $BTC and $ETH under CFTC jurisdiction, contrasting SEC Chairman Gensler's view that 70-80% of cryptocurrencies are securities.
Behnam's call for legislative measures to enhance CFTC oversight and investor protections shows a proactive approach to balancing regulation and innovation. This decision sets a precedent for the future and could boost market confidence and growth.
Stay tuned as we navigate this exciting and evolving DeFi landscape! 🌐💡 #Crypto #Bitcoin #Ethereum #Regulation #CFTC #SEC #DeFi
https://coinpedia.org/news/cftc-chairman-declares-btc-and-eth-are-not-securities/
CoinPedia
Win for Crypto! CFTC Chairman Declares Bitcoin & Ethereum NOT Securities
Bitcoin and Ethereum are often seen as groundbreaking technologies, and recent developments have reinforced their importance in the financial world. At a
Top #CryptoNews of This Week
1️⃣ Putin signed a law legalizing #cryptomining in Russia, effective ten days after publication
2️⃣ On August 5, the global market crash led to $1.022B in #crypto liquidations
3️⃣ #Crypto executives spoke with the White House as Democrats launched the “Crypto for Harris” campaign
4️⃣ BoJ Deputy Governor Uchida stated no rate hikes amid #financial market instability, yen dropped
5️⃣ U.S. Judge fined #Ripple $125M for securities law violations, reducing SEC's demand significantly
6️⃣ U.S. Judge approved a $12.7B settlement between #FTX and #CFTC, resolving the lawsuit.
7️⃣ Paris Olympic venues and French museum shops were hit by cyberattacks demanding #cryptocurrency ransoms.
8️⃣ Plustoken transferred over $450 million in ETH, with stolen funds now worth $1.9 billion.
9️⃣ #BitcoinETF options might launch in Q4; BlackRock applied for Ethereum Spot ETF options.
🔟 #OKX announced account terminations for users interacting with #TornadoCash or sanctioned entities.
1️⃣ Putin signed a law legalizing #cryptomining in Russia, effective ten days after publication
2️⃣ On August 5, the global market crash led to $1.022B in #crypto liquidations
3️⃣ #Crypto executives spoke with the White House as Democrats launched the “Crypto for Harris” campaign
4️⃣ BoJ Deputy Governor Uchida stated no rate hikes amid #financial market instability, yen dropped
5️⃣ U.S. Judge fined #Ripple $125M for securities law violations, reducing SEC's demand significantly
6️⃣ U.S. Judge approved a $12.7B settlement between #FTX and #CFTC, resolving the lawsuit.
7️⃣ Paris Olympic venues and French museum shops were hit by cyberattacks demanding #cryptocurrency ransoms.
8️⃣ Plustoken transferred over $450 million in ETH, with stolen funds now worth $1.9 billion.
9️⃣ #BitcoinETF options might launch in Q4; BlackRock applied for Ethereum Spot ETF options.
🔟 #OKX announced account terminations for users interacting with #TornadoCash or sanctioned entities.
Coinbase Battles for Clarity!
#SEC vs. #Coinbase: The Battle for #Crypto Clarity!
Can Coinbase Turn #CFTC Documents into Legal Gold?
Click Below 👇👇
https://coinpedian.substack.com/p/coinbase-challenges-cftc
#SEC vs. #Coinbase: The Battle for #Crypto Clarity!
Can Coinbase Turn #CFTC Documents into Legal Gold?
Click Below 👇👇
https://coinpedian.substack.com/p/coinbase-challenges-cftc
Substack
Coinbase Challenges CFTC
Coinbase Pushes CFTC for Transparency in SEC Lawsuit
Top 10 Crypto Lawsuit Settlements
➡️ The #CFTC reached a record $12.70 billion settlement with #FTX and #Alameda, the largest in #Crypto history as of August 2024
➡️ Celsius, Terraform Labs, and Binance are also facing significant fines as part of this crackdown.
#CoinPedia #CryptoCommunity #Lawsuits #Blockchain
➡️ The #CFTC reached a record $12.70 billion settlement with #FTX and #Alameda, the largest in #Crypto history as of August 2024
➡️ Celsius, Terraform Labs, and Binance are also facing significant fines as part of this crackdown.
#CoinPedia #CryptoCommunity #Lawsuits #Blockchain