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Two more lawsuit for Coinbase: Decryption of the Law, August 1-8

Both plaintiffs claim that Coinbase has made fraudulent and fraudulent statements regarding the company's business.

The drama of Coinbase, which began at the end of July, continues with new events. Last week, the former Global Coinbase Global Product Manager, Jhan Vahi, recognized himself innocent on two points of accusation for fraud and two points of fraud accusations using the communications in the Federal Court of Manhattan. Wahi was arrested while trying to sit on a flight from the United States to India in May and accused of insider trade. While wahs occupy a central place in two separate court cases, last week two more claim appeared against the cryptocurrency exchange located in San Francisco. The Bragar Eagel & Squire law firm that she would file a lawsuit against Coinbase for deceptive statements about his business practice. Pomerantz LLP also filed a lawsuit against the exchange, claiming that he has the right to compensate for any losses incurred as a result of violation by the defendant of federal laws on securities. In both complaints, the plaintiffs argue that Coinbase has made fraudulent and deceptive statements regarding the business, operations and compliance with legislation from April 14, 2021 to July 26, 2022. It is reported that Coinbase refused to disclose information that it allowed US citizens to trade digital assets that require registration by the Securities and Exchange Commission (SEC) as securities, despite their awareness and self -confidence. 11 people are accused of cryptocurrency "financial pyramid" worth $ 300 million. Indeed, the hot season for law enforcement agencies - the SEC charged 11 people for their proposed role in creating the Forsage Fraudulent Cryptocurrency Pyramid. The accusations were brought in the US District Court in Illinois. SEC claims that the founders and promoters of the platform used the "fraudulent cryptocurrency pyramid and the Ponzi scheme" to attract more than $ 300 million from "millions of retail investors around the world."

The new bill on cryptocurrencies can expand the regulatory powers of CFTC

while the Lammis-Gillibromian cryptocurrency bill and several versions of the legislation on stablecoins seem to be postponed until the fall, the chairman of the agricultural committee of the US Senate, and the member of the Committee, John Buzmann introduced the law on the protection of consumers of digital goods. The bill provides for the mandatory registration of CFTC of a wide range of market participants and received wide approval in the crypto community.

Banks close the crypto-streaks in Portugal

on reporting, several large banks in Portugal began to close the accounts of cryptocurrency exchanges due to reasons of "risk management". At least four cryptocurrency exchanges closed their accounts, including Criptoloja, which was the first to receive a license to work in the country. The closure of these accounts is considered as a blow to the crypto-friendly approach of Portugal, since the authorities previously rejected two tax proposals that could be applied to investors earning on cryptocurrencies.

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8/9/2022