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US SEC Crypto Enforcement Actions and Cathie Wood's Crypto Bets
Here's your weekly dose of the most significant happenings in Web3:
1. SEC Enforcement Could Boost Europe's Crypto Opportunities
As the U.S. SEC takes enforcement action against major crypto exchanges like Binance and Coinbase, officials in the European Union are showcasing their new crypto framework, hoping to attract blockchain innovators. The EU’s MiCA law could give it an edge over the U.S., where crypto players are complaining of regulation by enforcement. Read more here.
2. ‘Stand With Crypto’ NFT Spreads Amid SEC Crackdown
After the SEC announced separate lawsuits against Binance and Coinbase, figures across the crypto space have been minting Coinbase’s “Stand with Crypto” NFT to show their support. The crypto industry is frustrated due to the lack of regulatory clarity in the United States. Find out more here.
3. Binance.US Suspends Use of Fiat due to SEC Pressure
Binance.US is transitioning to an all-crypto exchange citing pressures from the SEC, which targeted the company with a major enforcement action this week. USD deposits will be suspended from June 9, and USD-based trading pairs will be delisted shortly after. Read more about it here.
4. SEC Sues Coinbase Over Unregistered Securities Exchange Allegations
The SEC has sued Coinbase, accusing the company of operating as an unregistered broker, exchange, and clearing agency simultaneously. The lawsuit came a day after a similar suit was filed against Binance. Dive into the details here.
5. Cathie Wood’s ARK Invest Buys Block Inc. Shares
Despite recent crypto regulatory action, Cathie Wood, the CEO of ARK Invest, has added another $19.9 million in shares of Block Inc., following a $21 million purchase in Coinbase stock. ARK Invest’s 305,573 new shares of Block now represent ARK’s fourth-largest holding. Find out more here.
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