Coinbase to advance operations in Benelux and Nordic regions
Coinbase will further advance its business in the Benelux Economic Union and the Nordic region through changes in its executive personnel. Elke Karskens, the former UK director, will be transferred to the position of director for the Benelux Economic Union and Nordic countries. Daniel Seifert, the current Vice President and Regional Managing Director for Europe, Middle East and Africa, will be responsible for Coinbase's business in the UK.
Coinbase will file final lawsuit against SEC on Tuesday over its unregistered securities case
On October 23, Coinbase will file a final lawsuit on Tuesday regarding its unregistered securities dispute, as reported by CoinDesk. An insider said that the company will strengthen its familiar argument: the SEC has not proven that these transactions are investment contracts because it has not proven the existence of any actual contracts, and the SEC violates the "significant issues principle", that is, federal agencies have no right to regulate new areas waiting for Congress to take action.
After Coinbase submits the deadline on Tuesday, US District Court Judge Katherine Polk Failla in southern New York will hear both sides' full arguments. Although it is usually unlikely to reject government enforcement actions at this stage, the judge has the right to dismiss the case.
Coinbase chief legal officer: Not all investments are securities
Coinbase's Chief Legal Officer, Paul Grewal, stated on social media that not all investments are securities. This is not the law in the United States, no matter how many people wish it were.
Coinbase selects Ireland for its European MiCA hub
Coinbase has officially chosen Ireland as the location for its European MiCA (Crypto Asset Market) center, marking an important step in its ongoing international expansion efforts. MiCA will apply to crypto asset service providers by the end of 2024, allowing Coinbase to provide services to a market of 450 million people in 27 countries/regions under a single regulatory framework and national supervision. The adoption of MiCA by EU policymakers has been seen as a key moment for the cryptocurrency industry in the region. The regulatory clarity provided by this framework emphasizes the region's recognition of the potential of emerging technologies.
Coinbase Cloud: Will become a validator for dYdX Chain
Coinbase Cloud announced on social media that it will support the soon-to-be-launched dYdX Chain and become its validator. Coinbase Cloud stated that the launch of dYdX Chain will drive its protocol to be fully decentralized and better control the trading experience. Since the P2P network itself is an order book, transactions can only occur when orders are filled, and it will also make it easy for developers to build features for advanced traders.
2,832 BTC Were Transferred to Coinbase, Worth $83.77 Million
According to Whale Alert monitoring, 2832 BTC were transferred to Coinbase, worth $83.77 million.
Coinbase will suspend trading of CRPT, MXC, QSP, REN, and TONE on November 4
Coinbase Assets has announced that it regularly monitors exchange assets to ensure they meet listing standards. Based on a recent review, the platform will suspend trading of Crypterium (CRPT), MXC (MXC), Quantstamp (QSP), Ren (REN), and TE-FOOD (TONE) around 2:00 PM Eastern Time on November 3, 2023 (around 3:00 AM Beijing Time on November 4).
Coinbase Legal Director: IRS cryptocurrency tax filing rules pose a threat to the crypto industry
Paul Singh Grewal, the Chief Legal Officer of Coinbase cryptocurrency exchange, has called on the cryptocurrency community to join the movement against the proposed cryptocurrency tax reporting regulations by the US Treasury Department. Grewal responded to concerns related to the proposed cryptocurrency tax regulations on X (formerly Twitter), claiming that the proposed regulations exceed the scope of congressional authority to establish tax rules. He added that if the proposed regulations become law, it would put digital assets at a disadvantage and could potentially harm an emerging industry that has just begun. The US Internal Revenue Service proposed new cryptocurrency tax reporting rules in early August of this year, and if approved, the new cryptocurrency tax system will take effect in January 2026.
CNBC: Coinbase has chosen Ireland as its main operational and regulatory center in the EU
On October 19th, cryptocurrency trading platform Coinbase has chosen Ireland as its main operational and regulatory center in the European Union. Coinbase has had an office in Dublin since 2018 and currently employs around 100 people there. If approved, Coinbase will obtain a universal "MiCA license" in Ireland, which will allow it to expand its services to Germany, France, Italy, the Netherlands, and other EU countries.
