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Funds

Coinbase CEO hits back at SEC chair after lawsuit, says user funds are safe

Brian Armstrong, CEO and Co-Founder of Coinbase, speaks at the 2022 Milken Institute Global Conference in Beverly Hills, California, U.S., May 2, 2022. REUTERS/David SwansonJune 7 (Reuters) - Coinbase (COIN.O) Chief Executive Brian Armstrong on Wednesday hit back at U.S. Securities and Exchange Commission (SEC) Chair Gary Gensler over the agency's lawsuit against the crypto exchange, calling him an "outlier," while also reassuring customers that their funds were safe.The SEC on Tuesday alleged Coinbase traded at least 13 crypto assets that are securities that should have been registered, including tokens...
Cryptocurrency

What makes a crypto asset a security in the U.S.?

June 7 (Reuters) - Determining whether digital tokens are securities will be central to the high-stakes case brought by U.S. regulators alleging crypto platforms Coinbase (COIN.O) and Binance violated the law by failing to register as a securities exchange, broker and clearing agency.WHAT IS THE SEC ALLEGING?The Securities and Exchange Commission (SEC) sued Coinbase on Tuesday in Manhattan federal court and accused the largest U.S. cryptocurrency platform of operating illegally by evading disclosure requirements.The SEC said Coinbase allowed users to trade at least 13 crypto assets that should have been...
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