Reaction to SEC Exchange Regulation So Far
In March, the SEC released a statement that warned exchanges from trading assets that meet the definition of a security and they must register. SEC exchange regulation requires listing as a national securities exchange. They also recommended individuals should use a platform that is registered with the SEC.
Which topics should we dive deeper into?
Select what genuinely interests you. Your picks feed directly into our editorial planning.
Crypto news that's actually worth your time.
Weekly. 60 seconds. Carefully curated by our editors: no hype, no promo flood, no spam.
In March, the SEC released a statement that warned exchanges from trading assets that meet the definition of a security and they must register. SEC exchange regulation requires listing as a national securities exchange. They also recommended individuals should use a platform that is registered with the SEC.
The SEC brings strict standards and also reviews the trading protocols that determine how orders interact and execute. The access to a platform’s trading services must be the same for all users to meet the standards of an SEC-registered exchange. But they are looking to help usher in benefits from the technology.
In April, former New York Attorney General Eric Schneiderman issued a warning to unlawful exchanges. Letters were sent directly to thirteen cryptocurrency exchanges, seeking information on:
Currently, none of the cryptocurrency exchanges are registered with the SEC. Trading of Bitcoin futures has been happing in the U.S. Since late 2017. Major firms have been pushing the SEC to make these evaluations.
Some Cryptocurrency Exchanges Responses
Kraken said that the exchange will likely register with the US Securities and Exchange Commission (SEC) as a broker dealer, and then later as an Alternative Trading System. Being registered as an ATS requires stricter record keeping and demands more transparency. After being headquartered in New York, Kraken left in 2015 due to the BitLicense regulations.
Their CEO Jesse Powell spoke out adamantly against the intrusion: “I don’t think it necessarily helps the business. I think we’re doing everything right anyway.’’ He also said that Kraken would need more clarity from the SEC about which tokens or cryptocurrencies are securities and how to trade them online legally.
Coinbase indicated that it is in talks with the SEC about registering as a licensed broker dealer. Coinbase reportedly met with Office of the Comptroller of the Currency (OCC) recently to discuss the possibility of obtaining banking licenses. They have recently released an institutional investor software tool set.
Poloniex, now owned by Circle Pay, the group has also indicated that it will begin the process of registering acquired with the SEC and FINRA (Financial Industry Regulatory Authority) as a broker dealer and later also ATS (Automated Trading System).
Bittrex official statement: “We look forward to continuing our proactive dialogue with the SEC and other regulators on how to build a secure, fully-regulated environment for blockchain that encourages innovation and economic growth.”
NASDAQ is getting directly involved with cryptocurrency trading. The world’s second largest exchange is working with DX.Exchange to launch in June 2018.
Robinhood added cryptocurrencies earlier this year and just received a 4th round of funding to expand their platform.
Related articles
- Binance to Pay $4B to end U.S Criminal Case
- Coinbase slammed with SEC Lawsuit right after Binance, what happened?
- Breaking News – LiteBit exchange was HACKED, here’s what you Need to Know
- Breaking: Crypto exchange Coinbase is down
- Coinsquare, Canada’s Largest Crypto Trading Platform Set to Move to the EU Market
Which topics should we dive deeper into?
Select what genuinely interests you. Your picks feed directly into our editorial planning.
Crypto news that's actually worth your time.
Weekly. 60 seconds. Carefully curated by our editors: no hype, no promo flood, no spam.
June 19, 2023 3:35 PM
SEC’s Crypto Securities List Consequences
The recent lawsuits by the SEC against crypto exchanges Binance and Coinbase have had a big impact on the industry. Here's the crypto securities list.
June 3, 2022 10:26 AM
Top 3 Best Centralized Exchanges For June 2022
In this article, we will be looking into what centralized exchanges are with a highlight of the top 3 best-centralized exchanges.
November 30, 2023 7:30 AM
Binance Faces Trouble in the Philippines
Philippines SEC moves to block Binance for lacking a license, underscoring legal compliance in crypto trade.
June 12, 2023 5:29 PM
Binance CEO Addresses FUD Amid Billions in Exchange Outflows
In a surprising move, Binance, the world's largest cryptocurrency exchange by trading volume, experienced a substantial binance outflow of capital.
October 12, 2018 3:55 PM
Japan Pushes Crypto Exchanges Not to List Anonymous Altcoins
The Japanese Financial Services Agency (FSA) started executing pressure measures on all of the local crypto-related platforms to remove the anonymous altcoins listed on them, just recently. A short while ago reports from Tokyo were released stating that a diverse group […]
November 21, 2023 7:24 PM
Kraken SEC Lawsuit: Regulatory Pressure on Crypto Exchanges Growing?
The U.S. Securities and Exchange Commission (SEC) filed a complaint against Kraken, one of the major cryptocurrency exchanges. What happened?
October 20, 2023 9:34 PM
SEC’s Crypto Securities List Consequences…What will Happen?
The recent lawsuits by the SEC against crypto exchanges Binance and Coinbase have had a big impact on the industry. What happens next?
October 17, 2023 11:15 AM
Binance STOPS New UK User Registrations, What Happened?
Binance, a leading cryptocurrency exchange, announced its decision to cease the registration of new users from the UK.
September 27, 2023 3:19 PM
When will SEC Approve Bitcoin ETF and Ethereum ETF?
The narrative surrounding Bitcoin ETF and Ethereum ETF has become a focal point in the crypto community. When will the sec finally approve?
June 15, 2023 5:35 PM
SEC Binance Lawsuit – Does the Authority Know Ripple (XRP) Lost?
The XRP community is optimistic that Ripple will be acquitted in the lawsuit over illegal securities trading. What will happen next?
June 7, 2023 6:56 AM
Crypto On The Crosshairs: A Deep Dive Into The SEC’s Crackdown on Binance, Coinbase, and The Rebirth of FTX 2.0
Recently, a seismic shift has occurred as the SEC announced lawsuits against Binance and Coinbase, two titans of the crypto world.
June 5, 2023 5:41 PM
Binance CEO Faces Legal Action from SEC on Alleged Securities Violations
The SEC has initiated legal action against Binance, one of the world's largest cryptocurrency exchange platforms, and its CEO Changpeng Zhao.
May 9, 2023 3:05 PM
BREAKING NEWS: Bittrex Crypto Files for Chapter 11 Bankruptcy?
Bittrex Crypto Exchange, one of the prominent crypto exchanges in the United States, has officially filed for Chapter 11 bankruptcy on Monday.
March 22, 2023 1:44 AM
The Top Crypto Exchanges to Consider in 2023
Looking for the best crypto exchanges to use in 2023? Read our article for a list of the top exchanges, including Binance, Coinbase, and Bybit. Learn about their features, fees, security measures, and more.
October 20, 2022 1:14 PM
Kraken Review 2022 – Is Kraken a Good Exchange?
Kraken is one of the oldest crypto exchanges in the market. In this review article, we take you through all you need to use Kraken.
March 2, 2021 11:45 PM
Elon Musk is under SEC Investigation…Again?
Elon Musk LOVES Dogecoin, and this love led him to an investigation by the SEC yet again after almost 3 years. Will he settle again?
May 22, 2024 11:41 AM
New Crypto Law: How Will It Reshape The Crypto Market?
The U.S. Congress has made a historic move by passing its first standalone crypto legislation, targeting the controversial SEC SAB 121. Here is a full understanding of this new legislation and its impact on the Crypto Market.
November 11, 2023 12:37 PM
FTX sues Bybit to recover $953 Million worth of assets
FTX sues Bybit to recover $953M in assets, highlighting key details and implications of this major legal battle in the crypto world.
October 12, 2018 1:57 AM
Belgium Warns of 19 Probable Fraudulent Cryptocurrency Exchanges
Lately, numerous cryptocurrency exchanging platforms have showed up on the web. They all claim to offer the best (or truly outstanding) exchanging platform(s), empowering the novices and experts to exchange digital currencies in a matter of seconds and with full […]
April 30, 2023 11:46 PM
How to Buy Bitcoin on eToro?
eToro is now one of the most popular platforms for trading in assets. The trade in cryptocurrencies has been greatly expanded in recent years. Today we will show you step by step guide on how to trade Bitcoin on eToro. […]
June 7, 2023 6:17 PM
BIG NEWS: Binance US Streamlines Trading Pairs and Halts OTC Operations
Binance US, has announced significant changes to its trading operations. The exchange will remove 40 trading pairs.
December 24, 2023 8:09 AM
Backlash Brewing: MEXC Crypto Exchange Under Fire for Frozen User Assets
MEXC crypto exchange is encountering criticism as traders express concerns about frozen assets and blocked accounts
March 26, 2024 5:32 PM
BREAKING NEWS: KuCoin Crypto Exchange Accused of Multi-Billion Dollar Crime
The US government has leveled accusations against the cryptocurrency exchange KuCoin and its two founders, Chun Gan and Ke Tang.
November 24, 2023 10:02 AM
Bullish.com Crypto Exchange: A Story of Unfulfilled Potential and Opportunism in the Crypto World?
Bullish.com's journey from a highly-funded startup to its current state raises significant questions about its intentions in the market.
November 21, 2023 7:55 PM
Crypto Crash Incoming: SEC on the Move and Crypto Winter Coming?
Two recent developments involving major exchanges Binance and Kraken have sent ripples through the industry. Will crypto crash?
More from CryptoTicker