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SEC scores big win in lawsuit against crypto exchange Coinbase
The Securities and Exchange Commission scored a major win in its lawsuit against Coinbase on Wednesday, as a judge ruled that its claim that the cryptocurrency exchange engaged in unregistered sales of securities could be heard by a jury at trial. Coinbase shares fell around 2.5% lower on news of the ruling in Manhattan federal court rejecting its bid to dismiss the SEC’s complaint. The regulator first filed suit against Coinbase in June, alleging that the company was acting as an unregistered broker and exchange. The agency also demanded the company be “permanently restrained and enjoined” from continuing to ... (full story)
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post: Yes, @Fidelity filed the S-1 for their #ethereum ETF this morning. This is not an amendment this is their first. They had only filed a 19b-4 until today. https://t.co/stuKa4ZlSh pic.twitter.com/FiVJ08JwF8 Fidelity Ethereum Fund - Form S-1 Registration Statement If any of the securities being registered on this Form are to be offered on a delayed or continuous basis pursuant to Rule 415 under the Securities Act of 1933 check the following box. If this Form is filed to register additional securities for an offering pursuant to Rule 462(b) under the Securities Act, please check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. If this Form is a post-effective amendment filed pursuant to Rule 462(c) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. If this Form is a post-effective amendment filed pursuant to Rule 462(d) under the Securities Act, check the following box and list the Securities Act registration statement number of the earlier effective registration statement for the same offering. Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.
Tether was the most used stablecoin for criminal activity in crypto last year, a period when the overall volume of illicit transactions in the sector fell as more digital-asset ...
post: BREAKING: Judge denied most of Coinbase’s motion for summary judgment in SEC case post: The Court further findsthat the SEC has sufficiently pleaded control person liability for CGl under theExchange Act. The Court GRANTS Defendants' motion, however, with respectto the SEC's claims regarding Wallet.Coinbase must face US securities regulator's lawsuit A federal judge in Manhattan on Wednesday said the U.S. securities regulator's lawsuit against Coinbase can move forward, but dismissed one claim the agency made against the largest U.S. cryptocurrency exchange. The decision partly granted Coinbase's motion to dismiss the Securities and Exchange Commission's lawsuit alleging the company is flouting its rules. The SEC and Coinbase did not immediately respond to a request for comment. It is a partial win for Coinbase in what could be a lengthy and expensive court battle. The SEC sued Coinbase in June, saying the firm facilitated trading of at least 13 crypto tokens that should have been registered as securities and was operating illegally as a national securities exchange, broker and clearing agency without registering with the regulator. Judge Katherine Polk Failla allowed most of the lawsuit to proceed, but dismissed the SEC's claim that Coinbase acted as an unregistered broker via its wallet application. The case against the world's largest publicly traded cryptocurrency exchange is a high-water mark in the regulator's campaign to apply U.S. securities law to the digital asset companies. To do so, the SEC has largely relied on a U.S. Supreme Court ruling setting out a test for when an investment constitutes a security. A key piece is whether returns "come solely from the efforts
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- Posted: Mar 27, 2024 11:26am
- Submitted by:Category: Fundamental AnalysisComments: 0 / Views: 194