https://safirsoft.com The SEC threatened to sue Coinbase for lending the product

The head of the exchange accused the US regulator of "misconduct". According to the managers, provide more information.

Paul Groval, Coinbase's chief legal officer, said in a blog post that the company, which became the first major US cryptocurrency exchange to go public in April, received a warning from Wells from the regulator. lent.

Lend is designed to allow users to benefit from specific digital assets on the platform. Grewal said that the Securities and Exchange Commission told Coinbase earlier this year that it considered Lend's product a safety "but did not say why or how they came to that conclusion." He added: "An official investigation into the exchange office and the issuance of summonses."

“While Coinbase has withdrawn the loan from the market and provided detailed information, the Securities and Exchange Commission has not explained why it sees the problem.” She said. "Instead, they have now told us that if we fire Lend, they intend to sue." “

“They refuse to make any written comment to the industry about what should be allowed and why, and instead engage in intimidation tactics behind closed doors. “Their theory is that everything here is like achieving/conquering territory against other regulators.” They borrow or “share” their stocks, but the profit and return mechanisms are often complex and there is little regulatory oversight and they do not provide any protection in the event of a loss for investors.” Washington warned that many cryptocurrency exchanges host securities trading. Unregistered financial instruments that must comply with International Atomic Energy Agency rules. He also called on the Securities and Exchange Commission to explicitly monitor cryptocurrencies, citing the need for investor protection.

Earlier this summer, government agencies began In Texas, New Jersey and Alabama to crack down on BlockFi. Whoever offers high-yield crypto accounts and claims that this amount is not offered by VC has value. BlockFi denies the allegations. Groval also believes that Lend has not provided a guarantee because it is “not an investment agreement or memorandum.” /p>

He added that the company won't launch its product until "at least in October" - which initially offered 4% of annual earnings to StableQueen holders.

It slipped in a wide range of prices. From 12 percent on Wednesday, with K for Bitcoin and Atrium as of 7am London time. Coinbase said the overall market has shrunk by about 14% in the past 24 hours.

© 2021 Financial Times Ltd.

The SEC threatened to sue Coinbase for lending the product
the-sec-threatened-to-sue-coinbase-for-lending-the.html

https://safirsoft.com Apple and Google under Putin's watch, block Navalny's software as elections begin

Apple and Google under Putin's watch, block Navalny's software as elections begin

Navalny's program is designed to support opposition candidates considered "illegitimate" in Russia. Mobile app stores called Navalny launched in the r...
https://safirsoft.com Facebook forces content farm to more than 40 percent of Americans each month

Facebook forces content farm to more than 40 percent of Americans each month

The report blames Facebook for prioritizing other issues.

After the 2016 election, Facebook realized it had a problem. Fake pages and account...

https://safirsoft.com Man 'world's biggest facilitator of child pornography' has been sentenced to 27 years in prison

Man 'world's biggest facilitator of child pornography' has been sentenced to 27 years in prison

Freedom Hosting has posted millions of photos, including "sadistic infant abuse". The US Department of Justice (DOJ) announced today that it promotes ...
https://safirsoft.com Free Locast TV service has been permanently closed after copyright loss

Free Locast TV service has been permanently closed after copyright loss

The Locast must decide whether ABC, CBS, Fox, and NBC will win the copyright case.

Locast has received an order to shut down its internet TV ...

https://safirsoft.com Former lab employee says cherry harvesting data was common on Theranos

Former lab employee says cherry harvesting data was common on Theranos

The court says Edison Theranos fails at least 25 percent of the time.

At Theranos, laboratory technicians regularly remove two "outside" poin...

https://safirsoft.com Cassin Backpage is being handled properly because the United States acted frivolously on allegations of child sex trafficking.

Cassin Backpage is being handled properly because the United States acted frivolously on allegations of child sex trafficking.

The United States focused too much on trafficking in children for sexual purposes in cases where there were no allegations of human trafficking. Child...