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Crypto exchange Coinbase obtains Monetary Authority Of Singapore licence
Economic Times
ยท
1y ago
Medial
Cryptocurrency exchange Coinbase has received a Major Payment Institution licence from the Monetary Authority of Singapore. This licence allows Coinbase to offer digital payment token services to individuals and institutions in Singapore. This move further expands Coinbase's presence and services in the cryptocurrency market.
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Crypto exchange OKX receives in-principle approval for Singapore payments licence
Economic Times
ยท
1y ago
Medial
Cryptocurrency exchange OKX's Singapore subsidiary has received in-principle approval for a payments license from the Monetary Authority of Singapore. This license will enable OKX to offer digital payment token and cross-border money transfer services in Singapore, positioning the country as a key market for the company. The approval comes as the crypto market experiences significant growth and bitcoin reaches record highs. Prior to this, OKX obtained a regulatory license in Dubai earlier this year to provide crypto services to retail clients.
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Tougher Singapore crypto regulations kick in - The Economic Times
Economic Times
ยท
27d ago
Medial
Singapore has tightened crypto exchange regulations to combat money laundering and bolster market confidence after recent scandals. The Monetary Authority of Singapore mandates that Digital Token Service Providers serving foreign clients must obtain a license or cease operations. This move aims to mitigate reputational risks and align with international money laundering standards. High-profile cases, including the collapses of Three Arrows Capital and Terraform Labs, underscored the need for stricter oversight to prevent illicit activities.
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SEC Crypto Unit Leader Resigns After Spearheading Coinbase Lawsuit - StartupNews.fyi
Startup News FYI
ยท
1y ago
Medial
Ladan Stewart, a prominent anti-crypto lawyer at the U.S. Securities and Exchange Commission (SEC), has resigned to join international law firm White & Case. She will help build the firm's crypto and cyber defense practice. Stewart previously accused Coinbase of illegally listing securities without registering as a securities exchange. Legal experts have expressed optimism that Coinbase could have the case dismissed, following Stewart's withdrawal as counsel for the SEC. Stewart's move to White & Case signifies the growing importance of legal expertise in navigating the regulatory landscape of the crypto industry.
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US SEC, Coinbase clash in court over crypto rulemaking
Economic Times
ยท
10m ago
Medial
Coinbase and the U.S. Securities and Exchange Commission (SEC) faced off in court as the cryptocurrency exchange seeks to compel the agency to create new rules for digital assets. Coinbase filed a petition in 2022 requesting the SEC to clarify when a digital asset is considered a security and to create a new market structure compatible with cryptocurrencies. The SEC denied the petition in 2023, stating current regulations are sufficient for the crypto sector. Coinbase is now appealing the denial, arguing that the SEC's stance makes it impossible for the company to operate and comply with regulations. This dispute reflects the ongoing tension between the crypto industry and regulatory authorities.
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Binance kicks off oral arguments in push to end SEC lawsuit
Economic Times
ยท
1y ago
Medial
In a high-profile case brought against Binance by the U.S. Securities and Exchange Commission (SEC), the world's largest cryptocurrency exchange is requesting the dismissal of the lawsuit. Binance is accused of breaking SEC rules, committing fraud, inflating trading volumes, diverting customer funds, and facilitating trading of unregistered securities. During a hearing, the judge questioned Binance's argument that the SEC lacks authority to regulate the crypto assets involved. This comes after a similar dispute arose between the SEC and Coinbase. Binance previously settled with the Department of Justice and the Commodity Futures Trading Commission over illicit finance breaches.
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Coinbase is stopping โall servicesโ for Indian users
Economic Times
ยท
1y ago
Medial
Cryptocurrency exchange Coinbase Global is discontinuing its services for all remaining registered users in India, with access to Coinbase.com or the Coinbase app available until September 25, 2023, according to an email sent to users. The exchange also appears to have stopped new user signups for the app in India. Coinbase cited the identification of accounts that no longer meet their updated standards as the reason for disabling these accounts. Affected users can withdraw their balances and send funds to other crypto service providers until September 25.
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Coinbase says SEC has agreed to dismiss case against it, pending commission approval
Economic Times
ยท
5m ago
Medial
Coinbase announced that the Securities and Exchange Commission (SEC) has agreed to dismiss its case against the platform, contingent on commission approval. This follows a lawsuit accusing Coinbase of operating as an unregistered securities platform. The announcement led to a 3% rise in Coinbase shares. Although the SEC has not confirmed this, the development aligns with a more lenient approach on cryptocurrency by the current administration. The crypto industry aims to strengthen its political influence.
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Crypto exchange Coinbase posts first profit in two years on robust trading
Economic Times
ยท
1y ago
Medial
Crypto exchange Coinbase has announced its first quarterly profit since 2021 thanks to increased trading volumes and a resurgence of interest in cryptocurrencies. The approval of bitcoin exchange-traded funds (ETFs) by the US Securities and Exchange Commission (SEC) has driven investor enthusiasm for crypto. Coinbase's transaction revenue jumped 64% to $529.3 million in Q4 2023, with expectations of strong performance in the first quarter of its subscription and services unit. The company reported a profit of $273.4 million for the three months ending December 31, 2023.
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Coinbase secures crypto license in France amid broader global push
Economic Times
ยท
1y ago
Medial
Cryptocurrency exchange Coinbase Global has obtained registration with France's AMF watchdog, allowing it to operate digital currency services in the country. This move is part of Coinbase's global expansion strategy and will enable the company to offer its full range of products and services to users in France. Coinbase is also in discussions with the Financial Services Regulatory Authority in Abu Dhabi to obtain a license for a regulated exchange. The company is actively expanding its presence in European markets, including Italy, Spain, and France.
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The SECโs crypto lawsuit against Coinbase can continue
The Verge
ยท
1y ago
Medial
US District Judge Katherine Polk Failla has ruled that the Securities and Exchange Commission (SEC) can continue its securities lawsuit against Coinbase. The judge stated that the SEC sufficiently argued that Coinbase operates as an exchange, broker, and clearing agency under federal securities laws. The judge rejected claims from the crypto community that existing laws are inadequate, emphasizing that the challenged transactions fall within the framework used to identify securities for years. However, she dismissed the SEC's claims against Coinbase's Wallet, stating that the SEC failed to demonstrate that Coinbase acts as a broker through its Wallet.
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