Giovanni Russo Summary:
In the past week, the crypto industry has experienced significant turbulence, with the United States Securities and Exchange Commission (SEC) adopting a stricter regulatory stance. Binance and Coinbase, two major cryptocurrency exchanges, have been sued by the SEC for violating securities laws. Additionally, Robinhood, a popular fintech and crypto firm, has decided to delist several prominent crypto assets in response to increased SEC scrutiny. Here’s a recap of the latest developments in the world of cryptocurrencies, brought to you by CryptokenTop.com News Week in Review.
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SEC Files Lawsuit Against Binance for U.S. Securities Laws Violations
Binance, the world’s largest cryptocurrency exchange, is facing legal action by the SEC for allegedly violating U.S. securities laws. The SEC chairman, Gary Gensler, disclosed that Binance is confronted with thirteen charges related to these violations. -
Coinbase CEO Responds to SEC Lawsuit Over Securities Law Violations
Brian Armstrong, the CEO of Coinbase, has issued a response to the SEC’s lawsuit against his company. The SEC has accused Coinbase of operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency. Additionally, they allege that Coinbase sold unregistered securities in connection with its staking-as-a-service program. -
SEC Identifies 12 Crypto Tokens as Securities in Binance Lawsuit
In a new lawsuit targeting Binance and its CEO, Changpeng Zhao (CZ), the SEC has identified 12 crypto tokens as securities. The SEC claims that Binance platforms allowed the trading of crypto assets that were offered and sold as investment contracts, thus classifying them as securities. -
Robinhood to Delist Cardano, Solana, and Polygon Amid SEC Regulatory Pressure
Robinhood has announced the delisting of cardano (ADA), solana (SOL), and polygon (MATIC) on June 27, 2023. This decision follows recent SEC enforcement actions against Binance and Coinbase, prompting Robinhood to review its coin listings and take action. -
Economist Discusses BRICS Currency’s Potential as a Global Currency
Economist Alexis Habiyaremye from the University of Johannesburg believes that a proposed common BRICS currency, if effectively utilized for trade transactions between BRICS nations, could reduce the burden on these countries to finance the disproportionate advantage the dollar enjoys in the international monetary system.
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Table Of Contents
Frequently Asked Questions (FAQs) about crypto crackdowns
What is the SEC’s action against Binance and Coinbase?
The SEC has taken legal action against Binance and Coinbase, two major cryptocurrency exchanges, for allegedly violating U.S. securities laws. They have filed lawsuits and charged the exchanges with various violations.
Why is Robinhood delisting certain crypto assets?
Robinhood has decided to delist specific crypto assets, including Cardano (ADA), Solana (SOL), and Polygon (MATIC), due to increased regulatory pressure from the SEC. The company is reviewing its coin listings and taking action to comply with the SEC’s enforcement actions against other exchanges.
Which crypto tokens have been identified as securities in the Binance lawsuit?
The SEC has identified 12 crypto tokens as securities in their lawsuit against Binance and its CEO, Changpeng Zhao (CZ). These tokens were offered and sold as investment contracts on Binance platforms, thus falling under the classification of securities.
What is the discussion about the BRICS currency?
There is a discussion about the prospect of a common currency among the BRICS nations. The idea is that if effectively implemented for trade transactions, it could alleviate the burden on these countries to finance the disproportionate advantage that the U.S. dollar currently enjoys in the international monetary system.
Where can I find more crypto news and updates?
To stay updated with the latest crypto news, you can visit CryptokenTop.com, where you can find more detailed information on the topics covered in this review and explore other relevant news in the cryptocurrency industry.
More about crypto crackdowns
- Binance Faces Legal Action by SEC for Violating US Securities Laws
- Coinbase CEO Responds to SEC Lawsuit Accusing Crypto Exchange of Securities Law Violations
- US SEC Identifies 12 Crypto Tokens as Securities in Binance Lawsuit
- Robinhood to Delist Cardano, Solana, and Polygon Amidst SEC Regulatory Pressure
- Economist Discusses BRICS Currency’s Prospect of Becoming Global Currency
- CryptokenTop.com (Source of the Week in Review)
