Tag: regulation

Commonwealth Bank executive James Roberts cited a huge scale of “investment scams” involving crypto exchanges. Commonwealth Bank (CBA), the largest bank in Australia, has said it will decline or temporarily hold certain payments to cryptocurrency exchanges, citing the risk of scammers. The move comes amid two major global exchanges facing a lawsuit from the United States securities…

“Every major player has been sued by the SEC except for FTX,” several members of the crypto community have noted. The United States securities chair has hinted at “parallels” between crypto exchange Binance and collapsed exchange FTX — namely their alleged use of sister firms to move funds. Speaking to Bloomberg on June 6, the…

Brian Armstrong and CZ have seen respective net worth losses of 11.8% and 5.1% since the SEC sued Coinbase and Binance. The net worths of Coinbase CEO Brian Armstrong and Binance CEO Changpeng Zhao (CZ) have suffered heavy blows due to recent lawsuits by the United States securities regulator. Armstrong’s net worth was slashed by…

Total daily trading volumes on decentralized exchanges have surged by nearly $800 million over the past two days. The median trading volume across the top three decentralized exchanges (DEX) jumped 444% in the past 48 hours as crypto investors reeled from the United States securities regulator’s recent legal actions against cryptocurrency exchanges Coinbase and Binance….

The SEC lawsuit against Binance led to outflows of over $750 million on Ethereum in the past 24 hours, with outflows still exceeding inflows. The United States Securities and Exchange Commission’s (SEC) lawsuit against Binance — accusing the crypto exchange of violating various securities laws — has directly impacted the crypto market and the exchange’s…

In a letter addressed to Treasury Secretary Janet Yellen and IRS Commissioner Daniel Werfel, Congressmen Sherman and Lynch raised concerns about the tax compliance practices in crypto. Members of the United States Congress — Brad Sherman and Stephen Lynch — have penned a letter to the heads of the Treasury and the Internal Revenue Service…