WASHINGTON, June 8 (Reuters) - Other U.S.
crypto exchanges are likely to be in the firing line after the Securities and Exchange Commission (SEC) this week sued Coinbase and Binance, two of the world's largest crypto exchanges, for allegedly breaching its rules.
The SEC's filing on Tuesday gave further examples of how Binance and Zhao, one of the most prominent figures in crypto, allegedly moved "billions of dollars" through the United States.
PARIS, June 22 (Reuters) - CACEIS, the asset servicing business owned by Credit Agricole and Santander , has registered with France's markets regulator AMF to provide custody services for digital assets, such as cryptocurrencies.
In its tweet on Thursday, Binance.US said crypto-denominated trading, deposits, withdrawals and "staking" - where users deposit cryptocurrencies for use in blockchain transactions - would remain fully operational.
LAGOS, June 10 (Reuters) - Nigeria's markets regulator has ordered the world's largest cryptocurrency exchange Binance to halt its operations in the country, saying a local unit that courted Nigerian investors through a website was illegal.
Crude oil remained on the back foot on Friday after a report that the United States and Iran were close to a nuclear deal, although denials from both
parties kept it off the previous session's lows.
The agency's aggressive policing has sparked a wave of criticism from digital assets firms and advocates on Capitol Hill for what they describe as regulatory overreach.
The case comes on the heels of charges in March against Binance by another US regulator, the Commodities Futures and Exchange Commission, and as the company faces a legal probe in France on allegations of illegal trading and money laundering.
President's Working Group on Financial Markets has also said some coins linked to fiat currencies may be securities. Gensler has long said most tokens constitute securities and has steadily asserted the SEC's authority over the crypto market.
U.S.
Since then, the digital asset market has seen a high-profile bankruptcy of crypto exchange FTX and lawsuits from the U.S.
securities regulator against Binance and
币安 Coinbase Global.
No firm has yet been licensed under VARA's full market product (FMP) stage - which would permit the serving of retail clients, regulator information shows.
OKX plans to apply for such a licence, Byun said.
France has been supportive of the nascent industry and was the first major European country to grant registration to the world's biggest cryptocurrency exchange, Binance.
The clampdown in the US has brought a dose of self doubt to a whole ecosystem behind cryptocurrency and the blockchain idea at its core, in which transactions do away with middlemen, including governments and banks.
PARIS, June 16 (Reuters) - Binance is under preliminary investigation for
illegal canvassing of clients and money-laundering, the Paris prosecutor's office said on Friday, the latest in a series of setbacks for the world's largest crypto exchange.
The SEC said it had not received "sufficient reassurance" that Binance.US's customer assets were controlled by its operator, BAM Trading, "rather than under the control or influence of Binance or Zhao, a person who has openly expressed his desire to avoid compliance with U.S.
Spooked by Washington's push, Crypto investor Derek Boirun, who founded Realio, a company mixing real estate and blockchain, posted a "Why I'm leaving the US" piece at website Medium.
The Binance and Coinbase SEC lawsuits "introduced a cloud of uncertainty around these assets and, as a result, our team has decided to end support for them," the company tweeted.
Shares of Coinbase tumbled on news of the lawsuit, which comes on the heels of charges unveiled Monday against cryptocurrency exchange Binance and founder Changpeng Zhao for numerous alleged securities law violations.
The SEC on June 5 sued Binance, its CEO and founder Changpeng Zhao and Binance.US's operator, alleging that Binance artificially inflated its trading volumes, diverted customer funds, failed to restrict U.S.
customers from its platform and misled investors about its market surveillance controls.
The U.S.
affiliate of Binance halted dollar deposits last week and gave customers a deadline of June 13 to withdraw their dollar funds, after SEC asked a court to freeze its assets.