I wonder what Gary hopes to achieve from all this tho. A congratulatory tap on the back, maybe? This dude's just got it hot against crypto exchanges, and it's quite surprising coming from someone who was actively in support of the growth of crypto. Funny how times have changed. I'm starting to feel he needs to spell out the type of compliance he wants from these exchanges because I remember when Coinbase was given a Wells notice sometime in March which has not been cleared as the SEC refused to state or clarify what a reasonable crypto rules.
This action by the SEC proves one thing; the government would do anything to be in control.
Topic: SEC is in Action After Suing Binance, Here Comes Coinbase Exchange - page 2. (Read 340 times)
June 07, 2023, 06:46:56 PM
June 07, 2023, 05:58:54 PM
What I am curious about on this whole issues from the SEC is that won't this attacks on cryptocurrency industries somehow drive away or reduce crypto investors like the whales out of the US? Or is this another targeted conspiracy scheme just to alter the price of the leading cryptocurrencies for a fall in price for some gains. I don't know.
June 07, 2023, 05:22:05 PM
How often do lawsuits like this materials into a full-blown closure of exchanges? Binance, out of all the existing exchanges today, seem to be the most experienced when it comes to legal pressure like this. It's like CZ has been brushing off all those lawsuits and all those pressures mounted onto him and his platform, and I'm sure he'll end up just paying some fines and fixing whatever there is to fix as mandated by the SEC.
It all depends on what the SEC's true intentions really are. If they're just a tool of the government and are part of a serious crackdown on the crypto market, then things are not looking great. Even if Binance (and Coinbase) settle and/or pay the fines, SEC could keep harassing them forever by declaring other coins as securities.
But if it is just a one-time extorsion action, that's maybe intended to show that they are doing "something" after their failures with FTX - then we might see things going back to normal.
June 07, 2023, 05:09:45 PM
It's going to be people's fault if Bitcoin goes lower because of this news, I know it's a fact and not a FUD but it shouldn't affect the market much, oh yes, I forget that every humans have different reactions, we are the reason why some news affects the market condition anyway.
I believe this is a good opportunity to buy some Bitcoin right now but if a bigger manipulation is already in play then this go even more bloodier in the coming days, I do hope not because it was a big fight for Bitcoin to get to 25k to 27k range in past months.
I still don't know why many people rely and trust centralized crypto exchanges more than having their bitcoin in their custodial wallets, a small bad news here and there, everyone is rushing to move their assets out of the exchange, it's a shame.
I believe this is a good opportunity to buy some Bitcoin right now but if a bigger manipulation is already in play then this go even more bloodier in the coming days, I do hope not because it was a big fight for Bitcoin to get to 25k to 27k range in past months.
I still don't know why many people rely and trust centralized crypto exchanges more than having their bitcoin in their custodial wallets, a small bad news here and there, everyone is rushing to move their assets out of the exchange, it's a shame.
It's not peoples fault if they're reacting to regulators coming down on the exchanges through nonsensical lawsuits by the SEC. The U.S. has the power to shut down any company within its jurisdiction because they can throw expensive lawsuits at companies that drag on for years.
None of us have seen the specifics of these lawsuits, or underlying evidence -- if there's legitimate merit to them then I'm prepared to eat my words, but until proven otherwise, this is just the SEC going on a powertrip trying to stunt Bitcoin's growth. Whether we would like to admit it or not, exchanges are central to Bitcoin's growth. If the SEC begins shutting down exchanges then we're done for.
Thankfully, I'm seeing some elected officials push back: https://twitter.com/SenLummis/status/1666181240167317507 We'll see how it plays out.
June 07, 2023, 03:58:22 PM
IMO, maybe they (SEC) have the excuse of attacking all Krypto coins (besides BTC) because XRP has a big potential to win on the grounds that many coins other than XRP have a non-security background. So the goal of the SEC is just to try to close the line with that excuse.
But whatever is more interesting behind this case there is a value (+ -) whether cz is really guilty / not. it will have absolutely no effect on the bitcoin price. In my opinion, it's better to play it safe. remember to enter crypto using money that has nothing to lose. Also remember the SBF case, before the wolf was found out, people also called it robinhood in the crypto world, the Luna stable coin case but still a rug pull too. The point is you still have to be careful when storing coins on exchanges.
Binance.US will remove approximately 100 trading pairs effective June 8, 2023 at 9am PDT and temporarily suspend OTC trading. They assure that funds are safe and deposits and withdrawals continue to function as normal.
https://support.binance.us/hc/en-us/articles/15133607064983-Binance-US-Will-Remove-Select-Trading-Pairs-Has-Paused-OTC-Trading
But whatever is more interesting behind this case there is a value (+ -) whether cz is really guilty / not. it will have absolutely no effect on the bitcoin price. In my opinion, it's better to play it safe. remember to enter crypto using money that has nothing to lose. Also remember the SBF case, before the wolf was found out, people also called it robinhood in the crypto world, the Luna stable coin case but still a rug pull too. The point is you still have to be careful when storing coins on exchanges.
Binance.US will remove approximately 100 trading pairs effective June 8, 2023 at 9am PDT and temporarily suspend OTC trading. They assure that funds are safe and deposits and withdrawals continue to function as normal.
https://support.binance.us/hc/en-us/articles/15133607064983-Binance-US-Will-Remove-Select-Trading-Pairs-Has-Paused-OTC-Trading
June 07, 2023, 03:33:00 PM
As we all know that SEC has sued US Binance Exchange and its CEO (CZ). For what they have been sued is already covered (Another Fud or Its Reality? BTC is Down Again). Now as of 6th June 2023, SEC has sued Coinbase too. Why? That's what i will write here.
Now what impact it will make on BTC price?-->(i think not that much as of compared to Binance, yet the Coinbase market dropped 15% though but still BTC and the market facing the impact too but lesser than Binance). Who is next on the list?-->(That depends on who is against the security act). Because from that press release, one thing is sure congress has put pressure on SEC to follow the Securities Exchange Act of 1934 (source--> you can find at the first paragraph of the second page of the document). From what i think is, they are trying to make entry opportunities so that they could benefit from BTC halving (just saying, as other factors are also included though).
Now what impact it will make on BTC price?-->(i think not that much as of compared to Binance, yet the Coinbase market dropped 15% though but still BTC and the market facing the impact too but lesser than Binance). Who is next on the list?-->(That depends on who is against the security act). Because from that press release, one thing is sure congress has put pressure on SEC to follow the Securities Exchange Act of 1934 (source--> you can find at the first paragraph of the second page of the document). From what i think is, they are trying to make entry opportunities so that they could benefit from BTC halving (just saying, as other factors are also included though).
It is definitely surprising to see the latest action against coinbase, but not really unprecedented as they occasionally take action against banks that they think have overstepped the mark. No financial institution should ever feel immune to such action. On the flip side, I slightly agree with the response from coinbase that the regulator should spend more time carving out correct regulation than trying to punish a publicly traded company that is trying to work within some currently gray areas. However crypto seems like an easy target because they are less financially or politically connected than other institutions and this may play a part in this crackdown.
June 07, 2023, 02:18:00 PM
there is a market that plays unfairly but has never been investigated by the SEC, maybe someone understands this market. why was the big market used to be BINANCE, COINBASE which was the main target of the SEC. I won't mention which market, but that market often creates coin manipulation to attract investors who end up unlucky. and many people suggest on social media but no one listens. this is a question mark the SEC does not have a solid foundational purpose for me
Indeed, if viewed visually from its duties and functions, the SEC focuses its investigations on various factors, including market size, trading volume, complaints from investors, and suspicious activity. They target specific markets or exchanges based on this consideration. It is possible that some people feel that certain markets are playing unfairly or manipulating prices. It could be in that direction.
June 07, 2023, 12:56:00 PM
there is a market that plays unfairly but has never been investigated by the SEC, maybe someone understands this market. why was the big market used to be BINANCE, COINBASE which was the main target of the SEC. I won't mention which market, but that market often creates coin manipulation to attract investors who end up unlucky. and many people suggest on social media but no one listens. this is a question mark the SEC does not have a solid foundational purpose for me
Indeed, if viewed visually from its duties and functions, the SEC focuses its investigations on various factors, including market size, trading volume, complaints from investors, and suspicious activity. They target specific markets or exchanges based on this consideration. It is possible that some people feel that certain markets are playing unfairly or manipulating prices. It could be in that direction.
June 07, 2023, 12:45:44 PM
As we all know that SEC has sued US Binance Exchange and its CEO (CZ). For what they have been sued is already covered (Another Fud or Its Reality? BTC is Down Again). Now as of 6th June 2023, SEC has sued Coinbase too. Why? That's what i will write here.
Now what impact it will make on BTC price?-->(i think not that much as of compared to Binance, yet the Coinbase market dropped 15% though but still BTC and the market facing the impact too but lesser than Binance). Who is next on the list?-->(That depends on who is against the security act). Because from that press release, one thing is sure congress has put pressure on SEC to follow the Securities Exchange Act of 1934 (source--> you can find at the first paragraph of the second page of the document). From what i think is, they are trying to make entry opportunities so that they could benefit from BTC halving (just saying, as other factors are also included though).
Now what impact it will make on BTC price?-->(i think not that much as of compared to Binance, yet the Coinbase market dropped 15% though but still BTC and the market facing the impact too but lesser than Binance). Who is next on the list?-->(That depends on who is against the security act). Because from that press release, one thing is sure congress has put pressure on SEC to follow the Securities Exchange Act of 1934 (source--> you can find at the first paragraph of the second page of the document). From what i think is, they are trying to make entry opportunities so that they could benefit from BTC halving (just saying, as other factors are also included though).
It is definitely surprising to see the latest action against coinbase, but not really unprecedented as they occasionally take action against banks that they think have overstepped the mark. No financial institution should ever feel immune to such action. On the flip side, I slightly agree with the response from coinbase that the regulator should spend more time carving out correct regulation than trying to punish a publicly traded company that is trying to work within some currently gray areas. However crypto seems like an easy target because they are less financially or politically connected than other institutions and this may play a part in this crackdown.
June 07, 2023, 12:40:25 PM
there is a market that plays unfairly but has never been investigated by the SEC, maybe someone understands this market. why was the big market used to be BINANCE, COINBASE which was the main target of the SEC. I won't mention which market, but that market often creates coin manipulation to attract investors who end up unlucky. and many people suggest on social media but no one listens. this is a question mark the SEC does not have a solid foundational purpose for me
June 07, 2023, 10:19:48 AM
Quote
Coinbase exchange was already alleged by SEC in the past and warned too but who knows what got into SEC this week, like they are after every exchange possible. I think its pressure from the top, maybe someone advised that dealing with these centralized exchanges might control the inflation in US (again-->who knows what got into them).
My understanding of this is that the SEC is not trying to kick Coinbase out of the U.S they're not trying to ban them from offering any kind of cryptocurrency services they are probably looking to do that with Binance. However the SEC is going try to harm the crypto industry but Bitcoin is doing fine. In addition to removing your bitcoin from any centralized exchange, you should dollar cost average your investments if you haven't already. I highly encourage it, especially in situations like this when dips occur. You should also consider adding additional bitcoins if you haven't already.
June 07, 2023, 09:23:01 AM
They really don't let the CEOs of these exchanges live in peace, there must be something that they think is wrong with the operations of these exchanges and they must immediately submit to them. Even Coinbase is not exempt from this attack and I think that other exchanges operating in America will also be hit by them. I can't understand why these boomers are so passionate about attacking exchanges. Okay, regulation is needed, but does it have to be this strict? don't they think that the impact of their attacks also affects the crypto assets of Americans? they should regulate these exchanges but still have little tolerance because the impact of their decisions caused billions of dollars of losses in the crypto market.
As these exchanges expand business into various forms, the evaluation and approach of interested agencies will stop at nothing to regulate more. I'm actually not surprised by this incident and I think it's good to start not caring about the two of them, they are the same entity that will only govern and control. This is for the health of your crypto assets in the long run. June 07, 2023, 08:17:13 AM
It is still unclear who really benefits from this whole story
Have we not considered that for sometime btc have not had a major hit on it to have such effect to pull it down and get it ready for the bull after halving because the whales will buy in and who are the whales should now be our question to ask. Sec is playing a suspicious roll on this. Yesterday some big hodlers sold after the news of the lawsuit and later bought back, I think the wise investors are waiting for this as opportunity.
June 07, 2023, 07:18:58 AM
The intensity of the SEC's actions is seen as a potential power play and a response to the digital coin's growing popularity. This suggests that regulatory actions can create uncertainty in the market and influence investor sentiment. Regarding the potential effect on Bitcoin price, pointed out that while there may be short-term disruptions, the long-term implications of regulatory action should not be overlooked. This could increase the likelihood of a shift towards decentralized exchanges (DEXs) in response to regulatory hurdles and the outcome of future regulatory actions and their impact on the crypto market is uncertain.
June 07, 2023, 07:09:07 AM
They really don't let the CEOs of these exchanges live in peace, there must be something that they think is wrong with the operations of these exchanges and they must immediately submit to them. Even Coinbase is not exempt from this attack and I think that other exchanges operating in America will also be hit by them. I can't understand why these boomers are so passionate about attacking exchanges. Okay, regulation is needed, but does it have to be this strict? don't they think that the impact of their attacks also affects the crypto assets of Americans? they should regulate these exchanges but still have little tolerance because the impact of their decisions caused billions of dollars of losses in the crypto market.
Regulators cross the line, you need to know when you are working for good, and when your actions are harmful. It seems that now it is the second option, for the development of cryptocurrencies in the United States.It seems to me that this will not end until the regulators lose some high-profile lawsuits. It was also strange for me to see how they decided to bring the case with Binance to court, because it was always an exchange that was in contact with regulators. Well, it's their choice, and I think that in the end it will play against them, you can't fight with so many opponents at the same time.
June 07, 2023, 06:51:06 AM
It seems to me that all these lawsuits and attacks on binance and other exchanges only attract even more attention to the cryptosphere, from which the latter can even benefit. I think the goal here is not the result, but the process itself. On the one hand, SEC is trying to show that no one is protected from its gaze, and binance demonstrates its resilience and ability to fight in such a battle. It is still unclear who really benefits from this whole story
June 07, 2023, 06:22:00 AM
They really don't let the CEOs of these exchanges live in peace, there must be something that they think is wrong with the operations of these exchanges and they must immediately submit to them. Even Coinbase is not exempt from this attack and I think that other exchanges operating in America will also be hit by them. I can't understand why these boomers are so passionate about attacking exchanges. Okay, regulation is needed, but does it have to be this strict? don't they think that the impact of their attacks also affects the crypto assets of Americans? they should regulate these exchanges but still have little tolerance because the impact of their decisions caused billions of dollars of losses in the crypto market.
June 07, 2023, 05:47:22 AM
We are in an era where behemoths of the crypto world, Binance and Coinbase, are under the SEC's radar, triggering some compelling riddles around the agency's game plan and endgame. With an affinity for a sturdy crypto ecosystem, I'd love to drop some thoughts on the matter.
Nothing shocking in the SEC's push for registration and adherence to the rules – it’s their job, after all. However, the intensity of this charge could signal a play for power over a realm that's been given a lot of leeway so far. Maybe it's a reaction to the undeniable rising popularity of digital coins, a tactical move to lower the risks that could be hitching a ride on this trend.
When it comes to the effect on Bitcoin's price, I'm not sold. Sure, the immediate aftermath may just be a blip, but we cannot overlook what might unfold in the distance. The mere whisper of regulation can send ripples of uncertainty through the market, possibly throwing investor feelings off balance.
If I were to predict, I'd say we might witness a more aggressive tilt towards decentralized exchanges (DEXs) to sidestep these regulatory hurdles. But before we all cheer, remember that it isn't all sunshine and rainbows – it has its own hurdles. For now, it's watch, wait, and wonder in the crypto universe.
Nothing shocking in the SEC's push for registration and adherence to the rules – it’s their job, after all. However, the intensity of this charge could signal a play for power over a realm that's been given a lot of leeway so far. Maybe it's a reaction to the undeniable rising popularity of digital coins, a tactical move to lower the risks that could be hitching a ride on this trend.
When it comes to the effect on Bitcoin's price, I'm not sold. Sure, the immediate aftermath may just be a blip, but we cannot overlook what might unfold in the distance. The mere whisper of regulation can send ripples of uncertainty through the market, possibly throwing investor feelings off balance.
If I were to predict, I'd say we might witness a more aggressive tilt towards decentralized exchanges (DEXs) to sidestep these regulatory hurdles. But before we all cheer, remember that it isn't all sunshine and rainbows – it has its own hurdles. For now, it's watch, wait, and wonder in the crypto universe.
June 07, 2023, 05:47:18 AM
I don't think it will have a huge impact compared to the Binance situation. Even after the Binance news, there was no big drop. This is actually good news because bitcoin is an independent asset from exchanges. Of course bitcoin can be affected by this news, but it hasn't had such a big impact. This shows that bitcoin has a solid position in the market. From another point of view, I think the SEC is aiming to buy bitcoin on the cheap? What is this succession of news? People don't sell their bitcoins anymore after this kind of news. I think they don't know that.
June 07, 2023, 05:25:53 AM
We know the SEC's primary role is to regulate the securities markets in the United States, ensuring investor protection, market integrity, and capital formation.
How far has all these regulations gone in dealing with financial attrocitise from using fiat even before the introduction of cryptocurrency, crime and financial misconducts is very common and has always been ever increasing in the traditional economy and the government officials were not left out in having their own roles played that have led to these increase, why the attacks on exchanges when they are nothing different from the banks itself.
I am also a consumer and a user. What is this, who will protect us, other users or investors, SEC or exchange platforms? if it continues like this when will Crypro World progress. Because, the ones affected by the location are users and investors.
No one will protect you than you protecting yourself, isn't it not because of the failure in the trust we had with government and financial institutions the main reason that birth to the Satoshi Nakamoto development of a new monetary system in a decentralized way, that gives us our Freedom back from what had been taken for so long, that control is what you have over your financial assets or investment if you adopt bitcoin and make use of this p2p network in a decentralized way.
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