Richterin Amy Berman Jackson gibt dem Großteil der SEC-Klagen gegen Binance statt, nichtsdestotrotz erzielt die Kryptobörse „große“ Teilerfolge.
Coinbase files for LINK, SHIB, AVAX, XLM, and DOT futures
- Coinbase files with CFTC to list futures for five altcoins.
- The five altcoins futures include DOT, SHIB, XLM, AVAX, and LINK.
- Trading for these futures to begin on or after July 15, 2024.
Coinbase has filed with the Commodity Futures Trading Commission (CFTC) to list futures for five popular altcoins: Polkadot (DOT), Shiba Inu (SHIB), Stellar (XLM), Avalanche (AVAX), and Chainlink (LINK).
According to a release by Coinbase, these new futures products are set to start trading on or after July 15, 2024.
Coinbase seeks to expand its product suite
The addition of these futures is a significant step for Coinbase as it seeks to enhance its product suite and provide its users with more versatile trading options.
Futures contracts are financial derivatives that obligate the buyer to purchase, or the seller to sell, an asset at a predetermined future date and price. This allows traders to speculate on the future price movements of these altcoins with reduced upfront capital requirements compared to spot trading.
Coinbase emphasized the benefits of this expansion stating:
“With the addition of AVAX, LINK, DOT, XLM, and SHIB, our participants and their clients gain more access points to manage risk, speculate on price movements, and participate in the cryptoeconomy with reduced upfront capital requirements. This expansion not only diversifies our product suite but can also enhance our users’ overall trading experience.”
Among the five tokens, Avalanche (AVAX) holds the largest market capitalization, valued at $11.1 billion, followed by Shiba Inu (SHIB) with a market capitalization of $10.1 billion.
By introducing futures for these specific tokens, Coinbase is positioning itself to attract a broader range of traders and investors. The new futures products are expected to provide additional tools for market participants to hedge their investments and capitalize on the volatility of the cryptocurrency market.
Coinbase’s move underscores its commitment to innovation and growth within the rapidly evolving digital asset space, ensuring that it remains at the forefront of the industry.
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Bitcoin (BTC) Aktivität auf niedrigstem Stand seit 2010
Die Kleinanleger sind im aktuellen Bitcoin-Zyklus so wenig aktiv wie zuletzt 2010.
Europe’s MiCA will take effect on Sunday, ushering in a new age of transparent crypto regulation
- The Markets in Crypto-Assets (MiCA) regulation is a legislative framework established by the European Union to regulate crypto assets and related services within the region.
- MiCA was adopted by the European Parliament in 2023 and will come into effect on Sunday, although not all at once.
MiCA provides regulatory clarity to the entire digital assets market across the Eurozone, making Europe one of the first Western countries to implement a clear framework that crypto exchanges, digital assets companies, and stablecoin issuers can adopt to remain compliant.
The framework aims to protect European investors from the fraud and risks plaguing the crypto markets while fostering innovation, economic competitiveness, and the interest of the Eurozone.
MiCA pushes for innovation in its stipulations around stablecoins, which will allow Euro-denominated stablecoins to replace the dollar-denominated variant. Under the new rules, stablecoins will be treated as electronic money, subjecting issuers to the same levels of compliance as traditional banks and money transmitters, including a 1:1 redemption to the Euro.
While the framework pushes for bold reforms, it also emphasizes protecting the European investor by mandating digital service providers obtain licenses as either digital asset service providers (DASP), virtual asset service providers (VASP), or crypto asset service providers (CASP).
Global stablecoins are not allowed under MiCA, and stablecoins pegged to other cryptocurrencies must primarily comply with European e-money licensing requirements. This would entail abiding by prudential, financial-crime compliance, and other rules.
To boost job and economic growth, licensed entities must maintain a local presence within the EU, which will serve as a base for their European operations.
While MiCA is a step forward, it is not without fault. Some of its faults include the cost of compliance, which could be burdensome on smaller crypto exchanges and service providers, vague (virtually non-existent) stipulations around decentralised finance, and a lack of flexibility in some stipulations, like those around stablecoins.
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SEC files lawsuit against Consensys
- The US Securities and Exchange Commission (SEC) has sued Consensys.
- SEC filed its lawsuit against the company on Friday, alleging unregistered broker dealer and offer of unregistered securities.
The US Securities and Exchange Commission (SEC) has sued Consensys, the Ethereum developer and software provider.
On Friday, June 28, the SEC filed a lawsuit against the company alleging Consensys has operated an unregistered broker dealer and offered unregistered securities. The regulator’s complaint is also about MetaMasks services – crypto swaps and staking.
“Consensys violated the federal securities laws by failing to register as a broker and failing to register the offer and sale of certain securities, thereby depriving investors of crucial protections that those laws afford,” the SEC alleged in the filing.
SEC highlights Lido, Rocket Pool staking
The SEC notes in the complaint filed at the United States District Court Eastern District Of New York that the MetaMask Swaps service has operated since October 2020, while Consensys has offered staking programs via the crypto wallet and platform since January 2023.
“By its conduct as an unregistered broker, Consensys has collected over $250 million in fees,” the SEC argues.
The lawsuit mentions Polygon (MATIC), Chiliz (CHZ), the Sandbox (SAND), Mana (MANA), and Luna (LUNA) as some of the securities.
SEC alleges that Lido (LDO) and Rocket Pool (RPL) staking programs are “investment contracts and, therefore, securities.”
According to the regulator, investors using the protocols expect profits with this coming from Lido and Rocket Pool’s managerial efforts. But Lido and Rocket Pool have both not registered with the SEC.
Today’s news comes a few days after Consensys said the SEC had ended its investigation into Ethereum 2.0. Consensys sued the regulator in April seeking clarification over Ethereum.
Notably, SEC approved spot Ethereum ETFs in May.
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