Bloomberg (June 7)
“The Securities and Exchange Commission has fired a major new salvo in Chair Gary Gensler’s war on crypto, declaring illegal two of the world’s largest digital-token trading platforms, Binance and Coinbase. It’s a welcome development: In myriad ways, the two enterprises exemplify what financial intermediaries shouldn’t do. What’s needed now is an actual rulebook.”
Tags: Binance, Chair, Coinbase, Digital-token trading platforms, Financial intermediaries. Rulebook, Gensler, Illegal, SEC, War on crypto
New York Times (April 17)
A new front is opening “in the war over how cryptocurrency will — or will not — be regulated.” Although “Cryptocurrencies are still mostly held as speculative assets,” they could “become fundamental parts of the financial system. To many, Coinbase’s successful debut, which valued the company at $86 billion, far more than operators of stock and bond exchanges, is a signal that this transformation is already well underway.” The success of that IPO could “invite more attention from regulators.”
Tags: Bond, Coinbase, Cryptocurrency, Exchanges, Financial system, IPO, Regulated, Signal, Speculative assets, Stock, Successful, Transformation, War
