Daily | US SEC announces lifting civil enforcement actions against Coinbase; BitMEX seeks sale and has entrusted investment bank Broadhaven to assist in the transaction
Reprinted from chaincatcher
03/01/2025·2MCompiled by: Jerry, ChainCatcher
Important information:
- US SEC announces lifting civil law enforcement actions against Coinbase
- Source: BitMEX seeks sale and has entrusted investment bank Broadhaven to assist in the transaction
- SEC member: Withdrawal of Coinbase does not mean giving up law enforcement, and future supervision will focus on policy formulation.
- US SEC Qualification: Memecoin does not belong to securities, investors are at their own risk
- Vitalik: In addition to the theft, there are also losses in crypto assets. The application of social recovery mechanism should be promoted.
- Zhao Changpeng: The pullback is part of the free market. If you feel pressure, you can reduce the investment scale.
- RED opens at Binance Pre-Market at 0.4 USDT, hitting the limit on the first day of daily limit
“What important events have happened in the past 24 hours”
US SEC announces lifting civil law enforcement actions against Coinbase
The SEC announced that it has lifted civil enforcement actions against Coinbase (COIN.O).
The case dates back to June 2023 (two years after Coinbase went public), when the SEC sued Coinbase, which accused Coinbase of merging three normally separate functions, broker, exchange and clearing agencies, in violation of U.S. securities laws.
Source: BitMEX seeks sale and has entrusted investment bank Broadhaven to assist in the transaction
According to CoinDesk, crypto trading platform BitMEX is seeking a sale and has hired boutique investment bank Broadhaven Capital Partners to assist in the sales process at the end of last year. Founded in 2014, BitMEX is known for launching perpetual contract transactions. Sources revealed that the exchange is looking for buyers and is expected to spark interest in industry mergers and acquisitions.
Currently, the crypto derivatives market is actively integrating, Kraken and Coinbase are bidding for Deribit, and FalconX acquires Arbelos Markets to expand its derivatives business. BitMEX was charged in 2020 for insufficient anti-money laundering measures and later pleaded guilty. Co-founders Arthur Hayes, Ben Delo and Samuel Reed later resigned.
SEC Commissioner Hester M. Peirce issued a statement saying that the SEC has formally withdrawn its civil enforcement lawsuit against Coinbase and said it will not take further action on the case. Peirce made it clear that she never supported the case and criticized the previous SEC’s reliance on law enforcement actions to regulate the crypto industry, believing that it hurt the public interest of the U.S., hindered the industry and hindered the normal function of the SEC’s professional policy team.
Peirce noted that the SEC's wide application of Howey tests has led to unclear supervision, making it difficult for compliant businesses to operate, while criminals use vague regulatory areas to evade legal liability. Furthermore, due to the lack of a clear regulatory framework, many crypto companies are forced to spend a lot of resources on legal responses rather than product innovation. She believes that the SEC's previous practice of formulating policies through law enforcement not only misleads the industry, but also prevents the policy team from effectively participating in the formulation of industry rules.
She stressed that the SEC has established a "Crypto Task Force" to give policy teams leadership and work with the public to develop a regulatory framework suitable for the crypto industry. The withdrawal of the lawsuit does not mean that the SEC has abandoned law enforcement, but rather indicates that future regulation will focus on policymaking rather than relying solely on law enforcement actions.
US SEC Qualification: Memecoin does not belong to securities, investors are at their own risk
The SEC Corporate Financing Regulatory Department has issued guidance on memecoins, saying they do not belong to securities, but are similar to collectibles.
The department believes that the transactions regarding meme coins described in the guidelines do not involve securities issuance and sales under the federal securities laws. Therefore, individuals involved in the issuance and sale of meme coins do not need to register their transactions with the Commission under the Securities Act of 1933, nor do they need to comply with the registration exemption clauses in the Securities Act. Therefore, buyers or holders of meme coins are not protected by federal securities laws.
Ethereum co-founder Vitalik Buterin reminded that many users’ crypto assets are not lost due to stolen, but due to software vulnerabilities, forgotten passwords, lost devices, and accidental damage to paper wallets.
He noted that many victims were shy to talk about these losses because there were no attackers to hold them accountable, but such incidents occurred frequently in reality. Vitalik stressed that the security scheme of crypto wallets should also consider asset loss issues and called for the advancement of social recovery mechanisms to reduce permanent losses of assets due to personal errors.
Zhao Changpeng posted: "The pullback is part of the free market, and it's not financial advice. If you feel pressured by it, you may need to reduce the size of your investment (if you think of cryptocurrencies as an investment). For me, it's a worldview change. I quit the old world 11 years ago."
RED opens at Binance Pre-Market at 0.4 USDT, hitting the limit on the first day of daily limit
RedStone (RED) has opened trading in Binance's pre-market market (Pre-Market) and is currently quoting 0.4 USDT, touching the first-day limit limit.
Previous news , Binance's pre-market trading market launched a daily limit mechanism. The daily limit mechanism will limit the highest trading price in the first 72 hours of the pre-market market, and the token price increase shall not exceed a certain percentage of the initial opening price. After 72 hours of the market opening before the market, there will be no price restrictions and trading will return to normal.
At present, this mechanism is only applicable to RED, and the daily limit limits for the first three days are 200%, 300%, and 400% of the opening price respectively.
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