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SEC Permitted to Sue Coinbase , for Offering Unregistered Securities.
U.S. District Judge Katherine Polk Failla
has ruled that the Securities and Exchange Commission's (SEC) lawsuit against Coinbase
can proceed, The Verge reports. .
The SEC has sufficiently pleaded
that Coinbase operates as an exchange,
as a broker, and as a clearing agency
under the federal securities laws, , U.S. District Judge Katherine Polk Failla, via ruling.
... and, through its Staking Program,
engages in the unregistered
offer and sale of securities, U.S. District Judge Katherine Polk Failla, via ruling.
The judge rejected arguments that existing laws are inadequate when it comes to crypto. .
The judge rejected arguments that existing laws are inadequate when it comes to crypto. .
The ‘crypto’ nomenclature may be
of recent vintage, but the challenged
transactions fall comfortably within the
framework that courts have used to identify
securities for nearly eighty years, U.S. District Judge Katherine Polk Failla, via ruling.
Coinbase chief legal officer Paul Grewal
took to X to respond to the ruling. .
Coinbase chief legal officer Paul Grewal
took to X to respond to the ruling. .
Early motions like ours
against a government agency
are almost always denied. , Paul Grewal, Coinbase chief legal officer, via X.
But clarity is the ultimate
goal and today’s decision
continues us on that path, Paul Grewal, Coinbase chief legal officer, via X.
Looking ahead, we remain confident
in our legal arguments, we look
forward to proving we’re right, , Paul Grewal, Coinbase chief legal officer, via X.
... we are eager for the opportunity to
take discovery from the SEC for the first
time, and we appreciate the Court’s
continued consideration of our case. , Paul Grewal, Coinbase chief legal officer, via X
Credit: Wibbitz Top Stories Duration: 01:31Published
China-Based Hackers , Hit With Sanctions and Indictments , Over Cyber Attacks.
ABC reports that the United States has
sanctioned hackers based in China over
alleged attacks on critical U.S. infrastructure.
According to the U.S. Treasury Department,
a state-sponsored front company has provided
cover for multiple cyber attacks on U.S. infrastructure. .
Sanctions by the U.S. and the United Kingdom have
targeted representatives of Wuhan Xiaoruizhi
Science and Technology Company Ltd. (Wuhan XRZ).
The U.S. Treasury Department alleges
that Wuhan XRZ acts as a China-based
Ministry of State Security (MSS) front company. .
ABC reports that the allegations include malicious cyber operations that include the 2020 spear phishing operation against the U.S. Naval Academy. .
ABC reports that the allegations include malicious cyber operations that include the 2020 spear phishing operation against the U.S. Naval Academy. .
On March 25, the U.S. Justice Department indicted seven individuals on charges stemming from their alleged involvement with these malicious operations.
On March 25, the U.S. Justice Department indicted seven individuals on charges stemming from their alleged involvement with these malicious operations.
The Justice Department will not
tolerate efforts by the Chinese
government to intimidate Americans
who serve the public, silence the
dissidents who are protected
by American laws, or steal
from American businesses, Merrick Garland, Attorney General statement, via ABC.
This case serves as a reminder
of the ends to which the Chinese
government is willing to go to
target and intimidate its critics,
including launching malicious cyber
operations aimed at threatening
the national security of the
United States and our allies, Merrick Garland, Attorney General statement, via ABC.
ABC reports that court documents show
that the hackers targeted politicians and
other prominent officials with "tracking links.".
The Conspirators used this method
to enable more direct and sophisticated
targeting of recipients' home routers
and other electronic devices,
including those of high-ranking U.S.
government officials and politicians
and election campaign staff from
both major U.S. political parties, Court documents, via ABC.
The Conspirators used this method
to enable more direct and sophisticated
targeting of recipients' home routers
and other electronic devices,
including those of high-ranking U.S.
government officials and politicians
and election campaign staff from
both major U.S. political parties, Court documents, via ABC
Credit: Wibbitz Top Stories Duration: 01:30Published
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