Skip to main content

Coinbase exchange threatened by US SEC, CEO responds

 


One of the popular cryptocurrency exchanges, Coinbase is facing a threat from the United States Securities and Exchange Commission. The large independent agency of the U.S. federal government is planning to sue the crypto exchange over the matter of the lending product. But according to Coinbase, it does not have any idea about why it would face the wrath of the U.S. SEC. 


SEC To Sue Coinbase Exchange


As per the revelations by the crypto trading platform Coinbase, it got a notice from the SEC via Wells notice regarding its planned lending product program. A Wells notice is the official method through which a company is told by the regulator to sue it in court. According to the CEO of exchange Brian Armstrong, if the matter reaches the court then it will end up in transparency in regulation that has been refused by SEC. 


Mark Cuban speaks on the matter


Mark Cuban, the star of the popular reality show Shark Tank, and the owner of Dallas Mavericks also gave his opinion on the matter. He told Brian that it is a war between Regulation and Litigation. According to Mark, the SEC is incapable of doing this for themselves and is scared to commit the blunder. Hence, the only way out they would opt is to leave the matter to their lawyers. 


Stay abreast with Cryptoknowmics to get more such updates and topics like Luna price prediction for 2021, and the next five years. 



Cryptoknowmics

Comments

Post a Comment

Popular posts from this blog

Is celebrity support an added advantage to cryptocurrency growth?

  Celebrities are prominent figures in society. We admire them for their looks and get influenced by whatever brand they endorse. So can we say that their support for cryptocurrency is an added advantage? Well, up to an extent yes. Since they are public figures and rule the hearts of their fans, this indeed can be an added advantage in the growth of cryptocurrency.  But it is not completely true. The cryptocurrency rose to fame because of the unique features and advantages they provide to their users. First of all, they allow users to have the ownership of tier money which is not in the case of government-issued currencies. If you look at the whitepaper of Bitcoin framed by its founder Satoshi Nakamoto, then you will find that it restricts the interference of third parties and central authorities like banks and the government.  Cryptocurrency is now considered an investment asset by most crypto enthusiasts. Many people have become richer by it. Akshay Haldipur from India ...
Post a Comment
Read more

Bitcoin Mining Pools See Huge Shuffle in Prior To Bitcoin Halving

Chinese Bitcoin mining giants, Poolin and f2pool have witnessed substantial growth in their daily BTC block reward in January 2020. The dominating mining pool, BTC.com has dropped in the reward earning. This is how the tables are turning, prior to the highly-anticipated third halving. In the last couple o f weeks, Bitcoin has gone through some wholesale changes in its mainstay metrics. Take into consideration the example of the Bitcoin hash rate, which recorded its new all-time high just recently , has now entered a declining phase. The dominance, which usually hovers around 70 %, has now fallen close to the 60% mark. A pivotal part would be played by these elements on the price prior to the Bitcoin halving. F2pool is recording the highest BTC block reward earnings when it comes to the known mining pools . Elias Simos, a senior research analyst at Decentral Park, tweeted : Elias Simos @eliasimos A lot of reshuffling in the $ BTC mining game sin...
Post a Comment
Read more

The Future Of Cardano And Its ADA Crypto

  Cardano is a decentralized third-generation PoS blockchain platform that aims to be a more effective option for PoW networks. The infrastructure load of rising prices, energy consumption, and lengthy transaction times limit growth, compatibility, and viability for PoW systems like Ethereum. Cardano is based on the Ouroboros consensus mechanism. Ouroboros, developed by Cardano during its early stages, was the very first PoS system that was not only shown to be safe but also the first one to be influenced by scholarly academic study. The research-based architecture anchors each development phase in the roadmap, merging peer-reviewed ideas with evidence-based techniques to proceed toward and accomplish the milestones. To find out the future of Cardano and its ADA crypto, you can visit Cryptoknowmics .  Stake And Earn Rewards The primary uses of Cardano are identity management and provenance. The previous development may be used to expedite and simplify operations that involve d...
Post a Comment
Read more