
April 21st, 2025
The regulator argues that it is under no obligation to meet the requirements outlined in Coinbase’s recent petition.
With crypto giant Coinbase seeking a license to operate in Bermuda, the country’s crypto market is buzzing with activity of more US firms showing interest.
The Coinbase Global Advisory Council will work together with top executives among other regulatory council members for the same common goal.
Amid the US regulatory crackdown and the fall of the crypto-friendly banks recently, the lack of liquidity has become a major issue currently in the market.
The exit of Jane Street and Jump Crypto will contribute to the liquidity crunch in the market segment and this outlook is unhealthy for the industry.
US District Judge stated that the attempts by the former Coinbase manager and other participants of the case to cover up their scheme indicate that knew their actions were wrong.
Garlinghouse expects the Judge to issue a summary ruling on the SEC vs Ripple case before the end of this year.
The SEC served Coinbase with a Wells Notice in March to signal an upcoming enforcement action against the exchange.
According to the chief investment officer at Coinbase, the crypto firm is venturing into the derivatives market in order to better serve the international customer base.
The demise of several United States regional banks including PacWest has come amid the rise of top banks – like Bank of America, and JPMorgan – and Fintechs – like Binance, and Coinbase Global.
While enforcement actions have been a focus for the US SEC in the crypto industry lately, some crypto exchanges are now making efforts to expand into other territories.
The reason behind the exchange’s decision is not clear. According to those familiar with the matter, closing the service is not linked to the scrutiny from SEC which has alleged that Coinbase was offering and trading unregistered securities, thereby violating federal securities laws.
The Coinbase International Exchange will provide institutional clients outside of the US with BTC and ETH contracts and up to 5x in leverage.
The company has promised its customers that it will be expanding its derivatives offering with additional perpetual contracts, dated futures, and options in the coming weeks.
Analysts at H.C. Wainwright have said that the crypto winter of 2022 ceases to have any bearing on related stocks.