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Currencies

Exclusive: Russian banker Kostin says the end of U.S. dollar dominance is nigh

Russian Rouble and U.S. Dollar banknotes are seen in this illustration taken, February 24, 2022. REUTERS/Dado Ruvic/IllustrationTop banker: This is 'hot war' not Cold WarKostin: Dollar use will be hurt by West's sanctionsKostin: China moving towards removing currency restrictionsKostin: Record VTB profit this yearKostin: VTB to sell one of biggest grain tradersMOSCOW, June 9 (Reuters) - The end of the dominance of the U.S. dollar is nigh as the Chinese yuan rises and the rest of the world sees the peril of the West's failed attempt to bring Russia to...
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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