Coinbase Escalates Regulatory Fight With Lawsuit Against 3 States
Coinbase Global Inc. has sued the states of Michigan, Illinois, and Connecticut in federal court, asking judges to stop state regulators from treating prediction markets as illegal gambling. The exchange says those matters should be regulated by the federal Commodity Futures Trading Commission (CFTC), not by state gaming authorities. Related Reading: 210 Bitcoin Land On […]
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The Blockchain Association led a broad industry push this week, asking Senate Banking leaders to resist efforts that would widen a ban on stablecoin yields beyond what Congress wrote into law. Related Reading: Coinbase Escalates Regulatory Fight With Lawsuit Against 3 States According to the association, the letter was signed by more than 125 crypto […]
Blockstream CEO Adam Back publicly rebuked Castle Island Ventures partner Nic Carter after Carter explained why his firm backed Project Eleven, a startup that says it will protect bitcoin and other crypto assets from quantum computing risks. Related Reading: Coinbase Escalates Regulatory Fight With Lawsuit Against 3 States Back told Carter on X that his […]
Desperate times continue at Coinbase – while one user has filed a motion to block IRS access to its records, a law firm is now suing the company for an alleged role in an $8.2 million fraud racket. New Lawsuit as Regs Bite Coinbase Again. In a class action lawsuit filed in Florida by Silver Law Group and Wites & Kapetan, Coinbase purportedly allowed Paul Vernon, ex-CEO of now-defunct exchange Cryptsy, to convert bitcoins worth over $8 million over a three-year period. “Despite Mr. Vernon’s assertions of business revenue and personal ownership, Coinbase — as a Money Services Business....
A standalone bill that went nowhere in the Senate is now at the center of a congressional fight over how far the government should go to block a digital dollar — and a group of 29 lawmakers wants the answer to be: all the way. Related Reading: Crypto Gets A Boost In Trump’s New National […]
A lawsuit filed against Coinbase alleges the money transmitter did not fulfil its regulatory requirements to do its due diligence and investigate Mr. Vernon’s activity and his Coinbase accounts. Coinbase Accounts Allegedly Held Stolen Funds. When $8.2 million in customer funds went missing from Cryptsy user accounts in 2014-15, a class action lawsuit was....