Oregon’s Attorney General, Dan Rayfield, is resisting Coinbase’s attempt to move a securities lawsuit to federal court, insisting the case relies on Oregon’s Pratt test—a broader legal standard than the federal Howey test for defining securities. The state accuses Coinbase of promoting unregistered crypto sales, while Coinbase dismisses the suit as politically motivated. The outcome could set a precedent for state-level crypto enforcement, potentially leading to fragmented regulation across the U.S. Legal experts warn that if states independently classify crypto as securities, it could create chaos for the industry and undermine the SEC’s authority.
about Oregon Fights to Keep Coinbase Lawsuit in State CourtGrewal
0 posts last weekUS Senate Repeals IRS DeFi Reporting Rule in Bipartisan Vote
The US Senate has voted 70 to 27 to repeal an IRS rule requiring decentralized finance (DeFi) platforms to report customer information, arguing that such platforms are not traditional brokers and would incur high compliance costs. This bipartisan decision, led by Senator Ted Cruz, reflects a growing recognition of the importance of crypto in the political landscape. Critics, however, warn that the repeal may push the digital asset industry further into the shadows, complicating efforts to combat financial crimes.
about US Senate Repeals IRS DeFi Reporting Rule in Bipartisan VoteSEC Ends Enforcement Actions Against Crypto Exchanges Amid Regulatory Shift
The SEC has halted enforcement actions against Coinbase and Robinhood, signaling an end to its aggressive regulatory approach towards crypto. This shift comes as the agency restructures its focus on fraud cases with identifiable victims, while the Department of Justice imposed $504 million in penalties on crypto exchange OKX for operating an unlicensed business. Meanwhile, Bybit suffered a significant hack, with nearly $1.5 billion in Ethereum stolen by North Korean hackers, highlighting ongoing security challenges in the crypto space.
about SEC Ends Enforcement Actions Against Crypto Exchanges Amid Regulatory ShiftSEC to Dismiss Lawsuit Against Coinbase Reshaping Crypto Regulations
The US Securities and Exchange Commission (SEC) is poised to drop its lawsuit against Coinbase, which sought to classify cryptocurrency tokens as securities. This decision, pending a commission vote, marks a significant shift in the SEC’s approach to regulating the crypto industry. Coinbase’s chief legal officer hailed the development as a positive step for both the company and the broader crypto market, potentially allowing for greater token listings and diversification into staking.
about SEC to Dismiss Lawsuit Against Coinbase Reshaping Crypto RegulationsCoinbase Explores Return to India as Regulations Evolve
Coinbase is in talks with India’s Financial Intelligence Unit (FIU) to potentially re-enter the market after suspending operations in September 2023 due to regulatory challenges. The FIU has begun registering offshore crypto exchanges, allowing platforms like KuCoin and Binance to return after penalties. Coinbase’s chief legal officer, Paul Grewal, has joined the US-India Business Council, emphasizing India’s growing Web3 ecosystem and the company’s commitment to compliance with evolving regulations.
about Coinbase Explores Return to India as Regulations EvolveCoinbase Legal Chief Criticizes FDIC for Actions Against Cryptocurrency Industry
In congressional testimony, Coinbase’s Chief Legal Officer, Paul Grewal, criticized the FDIC for its letters urging financial institutions to pause crypto activities, which he claims undermine the industry. He called for transparency in regulatory practices to foster innovation rather than stifle it, drawing parallels to the controversial “Operation Choke Point.” FDIC Vice Chairman Travis Hill acknowledged the need for a new regulatory approach to clarify permissible activities in the crypto space.
about Coinbase Legal Chief Criticizes FDIC for Actions Against Cryptocurrency IndustryCoinbase Defends Solana Amid Allegations and Technical Challenges
Coinbase’s Chief Legal Officer Paul Grewal has refuted claims of the exchange’s hostility towards Solana, asserting that millions have been invested in defending the blockchain. Despite recent withdrawal and deposit delays attributed to infrastructure issues, Coinbase remains committed to supporting Solana amid ongoing speculation and criticism from the crypto community. As Solana experiences significant growth, capturing over $2.5 billion in USDC, industry experts recognize Coinbase’s role as a key advocate for the cryptocurrency sector, despite operational challenges.
about Coinbase Defends Solana Amid Allegations and Technical ChallengesCoinbase Seeks Dismissal of BiT Global Lawsuit Over wBTC Delisting
Coinbase has filed a motion to dismiss a lawsuit from BiT Global challenging its decision to delist Wrapped Bitcoin (wBTC), citing security risks linked to Justin Sun. The exchange argues that BiT Global’s claims lack legal merit and emphasizes its responsibility to protect user safety and platform integrity. Coinbase maintains that no law requires it to host assets deemed risky, reinforcing its commitment to a secure trading environment.
about Coinbase Seeks Dismissal of BiT Global Lawsuit Over wBTC DelistingCoinbase Accuses FDIC of Deceit in FOIA Request Dispute
Coinbase’s Chief Legal Officer, Paul Grewal, has accused the FDIC of deceit and stonewalling in response to FOIA requests regarding the agency’s actions to halt banks from offering crypto services. Grewal claims the FDIC has limited its search for relevant documents and is not fully complying with requests, prompting Coinbase to seek federal court intervention. He asserts that the ongoing lack of transparency supports allegations of government efforts to undermine the digital asset industry.
about Coinbase Accuses FDIC of Deceit in FOIA Request DisputeCourt Orders SEC to Clarify Cryptocurrency Regulations Amid Political Changes
A federal appeals court has mandated the SEC to clarify its stance on cryptocurrency regulations, criticizing its previous rejection of Coinbase’s request for explicit guidelines as “arbitrary and capricious.” This ruling coincides with President-elect Trump’s inauguration and a shift towards pro-crypto lawmakers in Congress, suggesting a potential reevaluation of regulatory approaches under new leadership. Industry experts anticipate a move away from stringent enforcement towards a framework that promotes transparency and investor protection.
about Court Orders SEC to Clarify Cryptocurrency Regulations Amid Political ChangesCourt Orders SEC to Justify Denial of Coinbase Rulemaking Petition
A federal court has compelled the SEC to justify its denial of Coinbase’s rulemaking petition, marking a significant moment in cryptocurrency regulation. The Third Circuit Court of Appeals criticized the SEC’s reasoning as “arbitrary and capricious,” prompting a demand for a more thorough explanation. While some legal experts view this as a minor victory for Coinbase, others highlight the potential implications for outdated regulations in the evolving crypto landscape.
about Court Orders SEC to Justify Denial of Coinbase Rulemaking PetitionCourt criticizes SEC for arbitrary rejection of crypto regulation petition
The U.S. Court of Appeals for the Third Circuit criticized the SEC for its “arbitrary and capricious regulatory behavior” in rejecting Coinbase’s petition for cryptocurrency regulation. The court has mandated that the SEC provide a more detailed explanation for its decision.
about Court criticizes SEC for arbitrary rejection of crypto regulation petition