Cryptocurrencies: Bitcoin rebounds after collapsing due to lawsuit against Binance and Coinbase

Cryptocurrencies: Bitcoin rebounds after collapsing due to lawsuit against Binance and Coinbase

The market expects the US inflation data show that consumer prices cooled slightly in May on a month-on-month basis, but core prices are likely to have remained strong, and the fed hold interest rates.

“It looks like investors are picking up a bit of optimism,” he said. Jack Ablinof Cresset Capital.

The SEC asked to freeze Binance assets

The United States Securities and Exchange Commission on Tuesday asked a federal court for a temporary restraining order to freeze the US assets of the Binance cryptocurrency exchange.

The motion, filed in the United States District Court for the District of Columbia, comes a day after regulators sued Binance and its chief executive, Changpeng Zhao, for allegedly operating a “network of deception“, raising the pressure on the world’s largest cryptocurrency exchange.

In the middle of the afternoon on Monday, the North American regulator filed a lawsuit against the crypto asset exchange and also against its founder, Changpeng Zhaoto those who 13 counts indicted for “a variety of securities law violations”.

Among other things, the SEC alleges that “while Zhao and Binance publicly asserted that US clients were restricted from transacting on Binance.com, Zhao and Binance actually subverted their own controls to secretly allow high-risk US clients security will continue to trade on Binance.”

The body chaired by Gary Gensler It also claims that “while Zhao and Binance publicly claimed that Binance was created as a separate and independent trading platform for US investors, Zhao and Binance secretly controlled the platform’s operations behind the scenes.”

Lawsuit against Coinbase

On Tuesday, the SEC sued the exchange Coinbase, alleging violation of federal securities laws. According to the official statement, the lawsuit corresponded to the fact that the cryptocurrency took the role of a stock Exchange and an unregistered stockbroker.

“Since at least 2019Coinbase has made billions of dollars by illegally facilitating the buying and selling of crypto assets,” the SEC said in the note, insisting that Coinbase mixes traditional stock market services with those of a stockbroker without registering any of those functions.

Source: Ambito

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