The U.S. Securities and Exchange Commission (SEC) has filed an emergency motion seeking to freeze the assets of Binance’s U.S. platform and repatriate the funds held by its customers, including both fiat currency and cryptocurrencies. The freezing order only applies Binance’s two U.S. holding companies, not to the non-U.S. regulated Read more…
The Securities and Exchange Commission sued crypto exchange Coinbase in New York federal court on Tuesday morning, alleging that the company was acting as an unregistered broker and exchange and demanding that the company be “permanently restrained and enjoined” from continuing to do so. From a report: Coinbase’s flagship prime Read more…
European Union states on Tuesday gave the final nod to the world’s first comprehensive set of rules to regulate cryptoassets on Tuesday, piling pressure on countries such as Britain and the United States to play catch up. An EU finance minister meeting in Brussels approved rules that were thrashed out Read more…
The Securities and Exchange Commission has issued a response to Coinbase’s complaint requesting that the agency establish regulatory clarity for the industry. In an April mandamus petition, Coinbase demanded federal courts to instruct the SEC to act and issue clear guidelines for crypto exchanges and companies. In its response, released Read more…
When the Ethereum blockchain moved away from using a technique for verifying transactions known as proof of work last September, crypto market demand for the specialized processors that performed these calculations disappeared virtually overnight. Companies that used and hosted GPUs, or graphics processing units, saw a key part of their Read more…
The Biden administration wants to impose a 30 percent tax on the electricity used by cryptocurrency mining operations, and it has included the proposal in its budget for the fiscal year of 2024. In a blog post on the White House website, the administration has formally introduced the Digital Asset Read more…
The Himalayan kingdom confirmed it has been running a bitcoin mining operation as mystery surrounds the scale of its earlier cryptocurrency investments. From a report: Beneath the Himalayas, rivers fed by ancient glaciers supply the tiny kingdom of Bhutan with immense stores of hydroelectricity. The renewable resource has become an Read more…