NEW YORK/LONDON June 9 (Reuters) - U.S.
shares struck new highs for the year on Friday, setting world stocks up for gains for the week, as rising bets that the Federal Reserve will skip a rate hike next week overshadowed worries about U.S. markets being drained of cash.
The world's largest cryptocurrency exchange closed its Australian derivatives business and relinquished a financial services license in April amid an ASIC probe into the business.
The positive noises on crypto contrast with some of the scepticism expressed by the Financial Conduct Authority, which revealed last week that 5m adults owned crypto assets last year - but continues to warn that those who invest should be prepared to lose all their money.
The SEC sued Binance, its CEO and founder Changpeng Zhao, and Binance.US's operation on Monday, alleging in 13 charges that Binance had engaged in a "web of deception," artificially inflated trading volumes and diverted customer funds, and that Binance and Zhao were secretly controlling the U.S.
entity while publicly claiming that it was independent.
Interest from Wall Street giants including BlackRock are also fuelling gains, although U.S.
regulators suing Binance and Coinbase exchanges exposed crypto's vulnerability to regulatory crackdowns.
Last month, Binance was hit by a lawsuit by the U.S. Securities and Exchange Commission for allegedly breaching the regulator's rules, pushing its global market share to 52% from 60% at the start of the year, according to data firm Kaiko.
on alleged violations of securities laws.
Earlier this month, the U.S. Securities and Exchange Commission (SEC) sued major crypto exchanges including Coinbase and Binance.
Earlier on Friday, the company said it was leaving the Dutch market because it had been unable to meet registration requirements to operate as a virtual asset service provider.
Trading platform Robinhood Markets said the next day that it was delisting three cryptocurrency tokens from its platform that the SEC identified as securities in its lawsuit against Binance.
NEW YORK/LONDON June 9 (Reuters) - U.S.
shares struck new highs for the year on Friday and helped lift world stocks to a 13-month peak, as rising bets that the Federal Reserve will skip a rate hike next week overshadowed worries about U.S. markets being drained of cash.
But the blows against Binance and Coinbase hit the industry with an accusation that stung: some crypto currencies are securities that must be traded under strict rules and not an alternative to dollars, yen or euros and outside the reach of regulators.
Japan's Nikkei share average has been another stellar performer this year, surging 16% in dollar terms, or 26% in yen terms, setting it up for its best year in a decade.
Brent crude futures fell by as much as 0.9% at one point, before reversing course to last trade up 0.5% at $76.35 a barrel.
West Texas Intermediate crude was up 0.36% at $71.53 a barrel.
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.
Tron is the ninth largest cryptocurrency with a $6.3 billion market value, while ether is the largest after bitcoin, with its $210 billion market capitalization. Tether is the largest stablecoin that aims to maintain a 1:1 peg with the U.S.
dollar.
Zhao, a billionaire who is one of crypto's most powerful figures, said in a tweet on Friday: "Yes, there is turnover (at every company). But the reasons dreamed up by the "news" are completely wrong."
Binance denies the charges. Securities and Exchange Commission this month sued Binance and its CEO Changpeng Zhao over what the regulator called a "web of deception" to evade U.S. Binance has come under pressure from regulators around the world.
The U.S.
Binance said it would defend itself "vigorously."
The SEC on June 5 accused Binance and its founder and CEO Changpeng Zhao of creating Binance.US as part of a "web of deception" to evade securities laws aimed at protecting U.S.
investors.
Bitcoin, the world's biggest and 币安注册 [
just click the up coming document] best-known cryptocurrency, was last up 5.5% on Wednesday at 29,881.00 after hitting a high of $30,755.00.
It is up roughly 81% for the year-to-date.
The development is the latest blow for the world's largest cryptocurrency exchange and raises questions about whether its U.S.
operation can survive the SEC lawsuit, which alleges Binance manipulated its trading volumes and comingled customer assets, among other civil charges that it denies.