It’s a lawsuit that could transform the entire crypto market. The US Securities and Exchange Commission is suing the cryptocurrency platform Coinbase for allegedly bypassing regulation. It’s the second chapter of a major crackdown on the industry after the SEC sued Binance, the world’s largest cryptocurrency exchange on Monday.
The US Securities regulator says Coinbase’s failure to register properly has deprived investors of protective measures, including safeguards against conflict of interest, and record keeping requirements. The largest crypto platform in the US had 110 million users and around 80 billion dollars in assets at the end of 20-22.
For more on the US Crypto Crackdown, we can now speak to DW reporter Michelle Stockman.
#cryptocurrency #coinbase #usa
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35 Comments
The fish is big enough to fish😂
USA 🐕🐕 German🎉🎉🎉😂😂🤣🤣😁😁
I read about a man in his 50s who started investing in stocks and real estate and then retired in 2 years with over $6 million and that is my main goal and I would really appreciate any tips and advice on how to achieve this goal. in 5 years. Especially with the current economic crisis all over the world. This is still a good time to invest in gold, silver and digital currencies BTC, ETH, SOL…
It would be good if they can bring some regulations in it. But it is to so called traditional banking system that is created so serve the elites and the government then probably won't help.
Coin base ripped me off. F coin base
Hey DW you need to be aware that the US does not control the Crypto market. Nobody cares what USA regime is doing against Crypto, only Americans need to be worried. If you are doing business in Western crypto exchanges, you are a dummie. Smart people do not keep their wealths in exchanges especially USA, UK and EU exchanges. Those countries are simply going to miss out on the crypto business. Western imperial governments seize assets at whim and sanction people they want to manipulate. Better to not even get involved with them in the first place. The world is a big place, West is no longer the only game in town :DDD
SBF did this
sueeing Coinbase achieves nothing
Crypto is a scam, why keep reporting on it ?
The crypto market has been unfavorable for some times now, how can I ever make profits in cryptocurrency as I have recently lost some funds by selling off some coins to cover some debt.
Virtual economy😆
Play with fire, get your fingers burned.
Coinbase actually sued the SEC first, this is just Gensler getting payback. If the US wants to drive innovation offshore and miss out, then fair enough. Crypto doesn't care, it'll just keep going and getting stronger.
Don't get you panties in a bunch Cathy Wood.
The problem with Crypto Currency is the word of Crypto itself. In simple English language, the word crypto means encrypted and encrypted means that the SEC cannot fully monitor the circulation of Crypto Currency. According to law and according to healthy comment sense, the SEC is supposed to monitor the circulation of financial assets and monetary based assets in the USA.
The SEC is simply using healthy common sense in the SEC's argument.
My apologies for the inconvenience. 🙏🙏
Coinbase would not let me sell my Bitcoin in the recent turmoil. When I went to sell it says "you have none to sell". Yet is showed my assets. Tried for 4 days, called support every day, they said it was a known techincal issue and were fixing it, try again in an hour. Then I discovered I could convert it, no problem, I just couldn't sell it. I converted it all to Litecoin and it let me sell that! I am convinced it was deliberate where they disabled selling on a certain number of users (not enough to hit the media) to keep so many people from cashing out Bitcoin. I am not pro government but this is exactly why they need to be regulated (better yet, shut down). I lost over 10% of my assets by the time I could figure out a way to "escape" Coinbase with my money. I hope they get nailed.
We already have laws on the books that should make what crypto is an illegal scheme, but since people are too egotistical to admit they don't understand the scheme or in the case of Democrats and Republicans, being actively paid off by these special interests, laws simply weren't being enforced.
The only thing remarkable about crypto to me is how enthusiastically people who don't understand it one iota support and proselytize for it.
"funds are safu"
Whoa, did you just read my mind? This video is exactly what I needed! 🧠
It has always seemed to me that there are a lot of ways you can lose big on crypto. Now, the government wants to step in and "protect" us. They don't have the laws in place to do it so they are going to try to get the courts to give them the power to do so. They have already forced the tax regulations into this and now they want to extend their control. I think that I will continue to refrain from this trend. The government cannot stand to think that there is money out there that they do not control.
Since this is taking place in the US, I'll logically and with an example explain it.
(Maintaining public safety on American highways is the responsibility of the National Highway Traffic Safety Administration.)
Imagine that NHTSA decided to simply destroy all automobiles (and the automotive industry) in order to purportedly safeguard drivers and passengers, as opposed to evaluating cars in crash tests. Gary Gensler (SEC) is acting insanely and overstepping his bounds. Of course, he just carries out the orders of his superiors. The Biden administration is making every effort to persuade people not to invest in cryptocurrency in the midst of the financial crisis, the enormous US debt, and the dollar's impending loss of its status as the world's reserve currency.
USA is scared of crypto haha its so far out
They want you to bid with a computer which can counter predict,it's never a fair game even in Forex etc,all platforms are rigged to make white nations feed on innocent people with low skin maybe….
How?!
HOW is there even a market for „nothing“?!
Because that‘s what crypto is! It‘s NOTHING! It‘s people gambling on NOTHING!
It‘s not like stocks that are linked to a brand, a company and/or a product!
It‘s not like a real currency, which is tied to a country or a group of country and gets its value from their economy.
It‘s just nothing! It‘s literally trying to draw „value“ out of thin air!
Defund the SEC
The mother of all pyramid schemes
Don’t invest in something you don’t understand.
The SEC is soo corrupt 🤮
What happened to Americans ? How can such a large, diverse, rich nation end up with people like Gary Gensler and Joe Biden shaping your future ? 🤦🏽♂
And all what citizens seem to care about are Genders
Btw the SEC licenced Coinbase as a stock a couple years ago ? what due diligence did they do exactly ?
Gary Gensler applied to advice Binance and they rejected him, He recommended Algorand a couple years ago, and now he wants to delete them
such a salty corrupt clown 🤡
The US is out of the race for innovation, as of today the US accounts for 8-10% of total volume world wide… Crypto is highly regulated! More lies from the SEC and current administration, sad😢. The US have become an orginized crime!
The recent SEC settlement has stirred a debate on crypto regulations. It's vital to curb illegal activities like insider trading, but also important for the SEC to provide clear guidelines for crypto securities. This ambiguity hinders industry growth. However, with Karen Gauvin's guidance, I've managed to earn nearly 28 BTC in two weeks, showing me the vast potential of cryptocurrencies. With her expertise, I confidently navigate this volatile market.
😂😂 What are Coinbase and Binance, what do they do? DW lives under a rock.
I love the grounded reality of this channel!!,Despite the recession, I'm so happy withdrawing my $20k profits out of my investment with a new platform in town..
tl;dr:
COIN runs a legal op, follows SEC, bends rules slightly, gets sued.
Binance a pure illegitimate operation. Beware of BNB.
The stream of bot comments under every Crypto video tells you all you need to know. It’s a giant scam.
Imagine spending real money on imaginary money 😂