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Although, a representative from Coinbase stated that the data being transfered is customer data according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
- This comes as recent controversy has plagued Coinbase in recent times as the exchange lays off 18% of employees<\/a> in preparation for \u2018Crypto winter\u2019 as well as the Superbowl Ad controversy<\/a>.<\/p>
  <\/p>
  <\/p>
  <\/span><\/p><\/li><\/ul>\n","post_title":"Coinbase Found To Be Selling Geo-Location Data To U.S Federal Agency ICE","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-found-to-be-selling-geo-location-data-to-u-s-federal-agency-ice","to_ping":"","pinged":"","post_modified":"2022-07-01 22:51:04","post_modified_gmt":"2022-07-01 12:51:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=5945","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};

1 2 Next

The intent of this program was to reportedly assist ICE with tracking fraudulent or malicious transactions on the blockchain. However, this does not give I.C.E any new information, instead, it allows ICE to analyze data that is already publicly available on the blockchain.<\/span><\/p>
<\/p><\/li><\/ul>\n\n\n\n
- Although, a representative from Coinbase stated that the data being transfered is customer data according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
  - This comes as recent controversy has plagued Coinbase in recent times as the exchange lays off 18% of employees<\/a> in preparation for \u2018Crypto winter\u2019 as well as the Superbowl Ad controversy<\/a>.<\/p>
    <\/p>
    <\/p>
    <\/span><\/p><\/li><\/ul>\n","post_title":"Coinbase Found To Be Selling Geo-Location Data To U.S Federal Agency ICE","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-found-to-be-selling-geo-location-data-to-u-s-federal-agency-ice","to_ping":"","pinged":"","post_modified":"2022-07-01 22:51:04","post_modified_gmt":"2022-07-01 12:51:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=5945","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
    
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    \n
    - The contract revealed that a 3-year deal was made in September of 2021 between ICE, Coinbase, and the DHS which allowed the U.S Federal agency to access intelligence collector \u2018Coinbase Tracer\u2019 which contained information of its users including the \u2018Geo location\u2019 data of the user.<\/p><\/li><\/ul>\n\n\n\n
      - The intent of this program was to reportedly assist ICE with tracking fraudulent or malicious transactions on the blockchain. However, this does not give I.C.E any new information, instead, it allows ICE to analyze data that is already publicly available on the blockchain.<\/span><\/p>
        <\/p><\/li><\/ul>\n\n\n\n
        Although, a representative from Coinbase stated that the data being transfered is customer data according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
        This comes as recent controversy has plagued Coinbase in recent times as the exchange lays off 18% of employees<\/a> in preparation for \u2018Crypto winter\u2019 as well as the Superbowl Ad controversy<\/a>.<\/p>
        <\/p>
        <\/p>
        <\/span><\/p><\/li><\/ul>\n","post_title":"Coinbase Found To Be Selling Geo-Location Data To U.S Federal Agency ICE","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-found-to-be-selling-geo-location-data-to-u-s-federal-agency-ice","to_ping":"","pinged":"","post_modified":"2022-07-01 22:51:04","post_modified_gmt":"2022-07-01 12:51:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=5945","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
        
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        By subscribing, you agree with our privacy and terms.
        
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        Follow The Distributed
        
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        \n
        Reports have found that Coinbase tracer has reportedly been selling users\u2019 data to the U.S Immigration and Customs Enforcement agency (ICE) including \u2018Geo-location\u2019 data according to a contract<\/a> found by watchdog group Tech inquiry.<\/a><\/p>\n\n\n\n
        The contract revealed that a 3-year deal was made in September of 2021 between ICE, Coinbase, and the DHS which allowed the U.S Federal agency to access intelligence collector \u2018Coinbase Tracer\u2019 which contained information of its users including the \u2018Geo location\u2019 data of the user.<\/p><\/li><\/ul>\n\n\n\n
        The intent of this program was to reportedly assist ICE with tracking fraudulent or malicious transactions on the blockchain. However, this does not give I.C.E any new information, instead, it allows ICE to analyze data that is already publicly available on the blockchain.<\/span><\/p>
        <\/p><\/li><\/ul>\n\n\n\n
        Although, a representative from Coinbase stated that the data being transfered is customer data according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
        This comes as recent controversy has plagued Coinbase in recent times as the exchange lays off 18% of employees<\/a> in preparation for \u2018Crypto winter\u2019 as well as the Superbowl Ad controversy<\/a>.<\/p>
        <\/p>
        <\/p>
        <\/span><\/p><\/li><\/ul>\n","post_title":"Coinbase Found To Be Selling Geo-Location Data To U.S Federal Agency ICE","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-found-to-be-selling-geo-location-data-to-u-s-federal-agency-ice","to_ping":"","pinged":"","post_modified":"2022-07-01 22:51:04","post_modified_gmt":"2022-07-01 12:51:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=5945","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
        
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        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
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        ADVERTISEMENT
        
        \n
        This move for expansion comes after Coinbase unexpectedly laid off 18% of its employees in preparation for the \u2018Crypto winter\u201d.<\/p>
        <\/p>
        <\/p><\/li><\/ul>\n","post_title":"Coinbase Plans To Expand Further Into European Markets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-plans-to-expand-further-into-european-markets","to_ping":"","pinged":"","post_modified":"2022-07-04 19:36:21","post_modified_gmt":"2022-07-04 09:36:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6000","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":5945,"post_author":"4","post_date":"2022-07-01 21:46:40","post_date_gmt":"2022-07-01 11:46:40","post_content":"\n
        Reports have found that Coinbase tracer has reportedly been selling users\u2019 data to the U.S Immigration and Customs Enforcement agency (ICE) including \u2018Geo-location\u2019 data according to a contract<\/a> found by watchdog group Tech inquiry.<\/a><\/p>\n\n\n\n
        The contract revealed that a 3-year deal was made in September of 2021 between ICE, Coinbase, and the DHS which allowed the U.S Federal agency to access intelligence collector \u2018Coinbase Tracer\u2019 which contained information of its users including the \u2018Geo location\u2019 data of the user.<\/p><\/li><\/ul>\n\n\n\n
        The intent of this program was to reportedly assist ICE with tracking fraudulent or malicious transactions on the blockchain. However, this does not give I.C.E any new information, instead, it allows ICE to analyze data that is already publicly available on the blockchain.<\/span><\/p>
        <\/p><\/li><\/ul>\n\n\n\n
        Although, a representative from Coinbase stated that the data being transfered is customer data according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
        This comes as recent controversy has plagued Coinbase in recent times as the exchange lays off 18% of employees<\/a> in preparation for \u2018Crypto winter\u2019 as well as the Superbowl Ad controversy<\/a>.<\/p>
        <\/p>
        <\/p>
        <\/span><\/p><\/li><\/ul>\n","post_title":"Coinbase Found To Be Selling Geo-Location Data To U.S Federal Agency ICE","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-found-to-be-selling-geo-location-data-to-u-s-federal-agency-ice","to_ping":"","pinged":"","post_modified":"2022-07-01 22:51:04","post_modified_gmt":"2022-07-01 12:51:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=5945","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
        
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        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        Coinbase has cited how they entered the U.K market in the midst of the bear market in 2015 and experienced great growth attempting to justify the further strengthening during the bear market, \u201cWhile markets will always be volatile, we believe the future is bright\u201d.<\/p><\/li><\/ul>\n\n\n\n
        This move for expansion comes after Coinbase unexpectedly laid off 18% of its employees in preparation for the \u2018Crypto winter\u201d.<\/p>
        <\/p>
        <\/p><\/li><\/ul>\n","post_title":"Coinbase Plans To Expand Further Into European Markets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-plans-to-expand-further-into-european-markets","to_ping":"","pinged":"","post_modified":"2022-07-04 19:36:21","post_modified_gmt":"2022-07-04 09:36:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6000","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":5945,"post_author":"4","post_date":"2022-07-01 21:46:40","post_date_gmt":"2022-07-01 11:46:40","post_content":"\n
        Reports have found that Coinbase tracer has reportedly been selling users\u2019 data to the U.S Immigration and Customs Enforcement agency (ICE) including \u2018Geo-location\u2019 data according to a contract<\/a> found by watchdog group Tech inquiry.<\/a><\/p>\n\n\n\n
        The contract revealed that a 3-year deal was made in September of 2021 between ICE, Coinbase, and the DHS which allowed the U.S Federal agency to access intelligence collector \u2018Coinbase Tracer\u2019 which contained information of its users including the \u2018Geo location\u2019 data of the user.<\/p><\/li><\/ul>\n\n\n\n
        The intent of this program was to reportedly assist ICE with tracking fraudulent or malicious transactions on the blockchain. However, this does not give I.C.E any new information, instead, it allows ICE to analyze data that is already publicly available on the blockchain.<\/span><\/p>
        <\/p><\/li><\/ul>\n\n\n\n
        Although, a representative from Coinbase stated that the data being transfered is customer data according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
        This comes as recent controversy has plagued Coinbase in recent times as the exchange lays off 18% of employees<\/a> in preparation for \u2018Crypto winter\u2019 as well as the Superbowl Ad controversy<\/a>.<\/p>
        <\/p>
        <\/p>
        <\/span><\/p><\/li><\/ul>\n","post_title":"Coinbase Found To Be Selling Geo-Location Data To U.S Federal Agency ICE","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-found-to-be-selling-geo-location-data-to-u-s-federal-agency-ice","to_ping":"","pinged":"","post_modified":"2022-07-01 22:51:04","post_modified_gmt":"2022-07-01 12:51:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=5945","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
        
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        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        Coinbase has stated that this is part of the recently announced \u2018two-pronged growth strategy<\/a>\u2019 that aims to share how Coinbase will grow its presence internationally by \"going broad and going deep\" with its products, infrastructure, and services.\u00a0<\/li><\/ul>\n\n\n\n
        Coinbase has cited how they entered the U.K market in the midst of the bear market in 2015 and experienced great growth attempting to justify the further strengthening during the bear market, \u201cWhile markets will always be volatile, we believe the future is bright\u201d.<\/p><\/li><\/ul>\n\n\n\n
        This move for expansion comes after Coinbase unexpectedly laid off 18% of its employees in preparation for the \u2018Crypto winter\u201d.<\/p>
        <\/p>
        <\/p><\/li><\/ul>\n","post_title":"Coinbase Plans To Expand Further Into European Markets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-plans-to-expand-further-into-european-markets","to_ping":"","pinged":"","post_modified":"2022-07-04 19:36:21","post_modified_gmt":"2022-07-04 09:36:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6000","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":5945,"post_author":"4","post_date":"2022-07-01 21:46:40","post_date_gmt":"2022-07-01 11:46:40","post_content":"\n
        Reports have found that Coinbase tracer has reportedly been selling users\u2019 data to the U.S Immigration and Customs Enforcement agency (ICE) including \u2018Geo-location\u2019 data according to a contract<\/a> found by watchdog group Tech inquiry.<\/a><\/p>\n\n\n\n
        The contract revealed that a 3-year deal was made in September of 2021 between ICE, Coinbase, and the DHS which allowed the U.S Federal agency to access intelligence collector \u2018Coinbase Tracer\u2019 which contained information of its users including the \u2018Geo location\u2019 data of the user.<\/p><\/li><\/ul>\n\n\n\n
        The intent of this program was to reportedly assist ICE with tracking fraudulent or malicious transactions on the blockchain. However, this does not give I.C.E any new information, instead, it allows ICE to analyze data that is already publicly available on the blockchain.<\/span><\/p>
        <\/p><\/li><\/ul>\n\n\n\n
        Although, a representative from Coinbase stated that the data being transfered is customer data according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
        This comes as recent controversy has plagued Coinbase in recent times as the exchange lays off 18% of employees<\/a> in preparation for \u2018Crypto winter\u2019 as well as the Superbowl Ad controversy<\/a>.<\/p>
        <\/p>
        <\/p>
        <\/span><\/p><\/li><\/ul>\n","post_title":"Coinbase Found To Be Selling Geo-Location Data To U.S Federal Agency ICE","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-found-to-be-selling-geo-location-data-to-u-s-federal-agency-ice","to_ping":"","pinged":"","post_modified":"2022-07-01 22:51:04","post_modified_gmt":"2022-07-01 12:51:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=5945","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
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        November 24, 2024
        
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        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        In a recent blog post<\/a> by the company, they announced that Coinbase aims to significantly strengthen its presence in the European market. The countries said to be included in this strengthening of presence are France, Spain, Italy, and the Netherlands. Coinbase aims to launch its suite of retail, institutional, and developer products.\u00a0<\/p><\/li><\/ul>\n\n\n\n
        Coinbase has stated that this is part of the recently announced \u2018 two-pronged growth strategy<\/a>\u2019 that aims to share how Coinbase will grow its presence internationally by \"going broad and going deep\" with its products, infrastructure, and services.\u00a0<\/li><\/ul>\n\n\n\n
        Coinbase has cited how they entered the U.K market in the midst of the bear market in 2015 and experienced great growth attempting to justify the further strengthening during the bear market, \u201cWhile markets will always be volatile, we believe the future is bright\u201d.<\/p><\/li><\/ul>\n\n\n\n
        This move for expansion comes after Coinbase unexpectedly laid off 18% of its employees in preparation for the \u2018Crypto winter\u201d.<\/p>
        <\/p>
        <\/p><\/li><\/ul>\n","post_title":"Coinbase Plans To Expand Further Into European Markets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-plans-to-expand-further-into-european-markets","to_ping":"","pinged":"","post_modified":"2022-07-04 19:36:21","post_modified_gmt":"2022-07-04 09:36:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6000","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":5945,"post_author":"4","post_date":"2022-07-01 21:46:40","post_date_gmt":"2022-07-01 11:46:40","post_content":"\n
        Reports have found that Coinbase tracer has reportedly been selling users\u2019 data to the U.S Immigration and Customs Enforcement agency (ICE) including \u2018Geo-location\u2019 data according to a contract<\/a> found by watchdog group Tech inquiry.<\/a><\/p>\n\n\n\n
        The contract revealed that a 3-year deal was made in September of 2021 between ICE, Coinbase, and the DHS which allowed the U.S Federal agency to access intelligence collector \u2018Coinbase Tracer\u2019 which contained information of its users including the \u2018Geo location\u2019 data of the user.<\/p><\/li><\/ul>\n\n\n\n
        The intent of this program was to reportedly assist ICE with tracking fraudulent or malicious transactions on the blockchain. However, this does not give I.C.E any new information, instead, it allows ICE to analyze data that is already publicly available on the blockchain.<\/span><\/p>
        <\/p><\/li><\/ul>\n\n\n\n
        Although, a representative from Coinbase stated that the data being transfered is customer data according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
        This comes as recent controversy has plagued Coinbase in recent times as the exchange lays off 18% of employees<\/a> in preparation for \u2018Crypto winter\u2019 as well as the Superbowl Ad controversy<\/a>.<\/p>
        <\/p>
        <\/p>
        <\/span><\/p><\/li><\/ul>\n","post_title":"Coinbase Found To Be Selling Geo-Location Data To U.S Federal Agency ICE","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-found-to-be-selling-geo-location-data-to-u-s-federal-agency-ice","to_ping":"","pinged":"","post_modified":"2022-07-01 22:51:04","post_modified_gmt":"2022-07-01 12:51:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=5945","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
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        November 24, 2024
        
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        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        The Cryptocurrency exchange platform \u201cCoinbase\u201d has announced that it will be attempting to further expand its presence in European markets despite the recent downturn in the markets.<\/p>\n\n\n\n
        In a recent blog post<\/a> by the company, they announced that Coinbase aims to significantly strengthen its presence in the European market. The countries said to be included in this strengthening of presence are France, Spain, Italy, and the Netherlands. Coinbase aims to launch its suite of retail, institutional, and developer products.\u00a0<\/p><\/li><\/ul>\n\n\n\n
        Coinbase has stated that this is part of the recently announced \u2018 two-pronged growth strategy<\/a>\u2019 that aims to share how Coinbase will grow its presence internationally by \"going broad and going deep\" with its products, infrastructure, and services.\u00a0<\/li><\/ul>\n\n\n\n
        Coinbase has cited how they entered the U.K market in the midst of the bear market in 2015 and experienced great growth attempting to justify the further strengthening during the bear market, \u201cWhile markets will always be volatile, we believe the future is bright\u201d.<\/p><\/li><\/ul>\n\n\n\n
        This move for expansion comes after Coinbase unexpectedly laid off 18% of its employees in preparation for the \u2018Crypto winter\u201d.<\/p>
        <\/p>
        <\/p><\/li><\/ul>\n","post_title":"Coinbase Plans To Expand Further Into European Markets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-plans-to-expand-further-into-european-markets","to_ping":"","pinged":"","post_modified":"2022-07-04 19:36:21","post_modified_gmt":"2022-07-04 09:36:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6000","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":5945,"post_author":"4","post_date":"2022-07-01 21:46:40","post_date_gmt":"2022-07-01 11:46:40","post_content":"\n
        Reports have found that Coinbase tracer has reportedly been selling users\u2019 data to the U.S Immigration and Customs Enforcement agency (ICE) including \u2018Geo-location\u2019 data according to a contract<\/a> found by watchdog group Tech inquiry.<\/a><\/p>\n\n\n\n
        The contract revealed that a 3-year deal was made in September of 2021 between ICE, Coinbase, and the DHS which allowed the U.S Federal agency to access intelligence collector \u2018Coinbase Tracer\u2019 which contained information of its users including the \u2018Geo location\u2019 data of the user.<\/p><\/li><\/ul>\n\n\n\n
        The intent of this program was to reportedly assist ICE with tracking fraudulent or malicious transactions on the blockchain. However, this does not give I.C.E any new information, instead, it allows ICE to analyze data that is already publicly available on the blockchain.<\/span><\/p>
        <\/p><\/li><\/ul>\n\n\n\n
        Although, a representative from Coinbase stated that the data being transfered is customer data according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
        This comes as recent controversy has plagued Coinbase in recent times as the exchange lays off 18% of employees<\/a> in preparation for \u2018Crypto winter\u2019 as well as the Superbowl Ad controversy<\/a>.<\/p>
        <\/p>
        <\/p>
        <\/span><\/p><\/li><\/ul>\n","post_title":"Coinbase Found To Be Selling Geo-Location Data To U.S Federal Agency ICE","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-found-to-be-selling-geo-location-data-to-u-s-federal-agency-ice","to_ping":"","pinged":"","post_modified":"2022-07-01 22:51:04","post_modified_gmt":"2022-07-01 12:51:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=5945","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
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        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
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        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        This announcement comes after an impressive marketing campaign from CryptoCom within the last few months including becoming the main sponsor of the World Cup<\/a> and a $700M deal to rename<\/a> the Staples Center to the CryptoCom Arena. Coinbase has been working hard behind the scenes, with this announcement coinciding with its plans to expand further into European markets<\/a>.<\/li><\/ul>\n","post_title":"CryptoCom And Coinbase Expand European Presence With Regulatory Approval In Italy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocom-and-coinbase-expand-european-presence-with-regulatory-approval-in-italy","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/binance-italys-registration-has-been-approved\/\nhttps:\/\/www.thedistributed.co\/crypto-com-is-the-main-sponsor-of-the-2022-world-cup\/","post_modified":"2022-07-21 21:11:31","post_modified_gmt":"2022-07-21 11:11:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6226,"post_author":"2","post_date":"2022-07-20 00:50:43","post_date_gmt":"2022-07-19 14:50:43","post_content":"\n
        San Francisco, United States, 19th July, 2022, Chainwire<\/strong><\/span><\/p>
        Portal<\/u><\/a>, a cross-chain Layer-2 DEX network being built on Bitcoin, is delighted to announce its Reg D equity offering through Republic<\/u><\/a>, a multi-asset investment platform that allows anyone to invest in vetted, private startups. The public sale began on Monday, July 18th.<\/p>\n
        Portal is extending the capabilities of Bitcoin to lay a more robust foundation for self-sovereign finance. The team truly believes that the participants make the project, and want to ensure that those who support delivery of a truly decentralized financial network, including collaborators, users, and Republic investors alike, enjoy the growth of the company as much as the founders do. By making ownership of Portal available to the public, it is extending the accessibility of its operations (and profits) to the wider masses.<\/p>\n
        According to Republic, their vetting process only approves 3% of startups to fundraise on the platform. The equity offering will allow the general public to invest in an ambitious project building DeFi on top of the Bitcoin blockchain.\u00a0<\/p>\n
        Portal CEO Eric Martindale said, \"The signal remains strong in the storm \u2014 Bitcoin remains the most likely candidate upon which the future of financial infrastructure will be built. \u00a0As Bitcoin's metrics continue to achieve all-time highs, Portal is eager to bring on this new round of investors in pursuit of advancing Bitcoin-based infrastructure and the continued decentralization of traditional financial services.<\/i>\"<\/p>\n
        The Reg D equity offering via Republic\u2019s platform comes as Portal prepares to launch its testnet in the coming weeks. It is building a full-fledged, censorship-resistant DeFi ecosystem on top of the Bitcoin network.<\/p>\n
        Though Bitcoin is often seen just as digital money, Portal is leveraging the Bitcoin network as the rails for building many layers of censorship-resistant financial applications on top of it. Every geopolitical event over the last year has reinforced the need for a censorship-resistant global financial system.<\/p>\n
        The peer-to-peer atomic swaps underpinning Portal provide true decentralization, enabling users to trade native Layer-1 assets across different blockchains without delays, blocked funds, or exploits.<\/p>\n
        Portal\u2019s Layer 2 and Layer 3 technology not only expands the cross-chain functionality of Bitcoin, but also simplifies building censorship-resistant communications, media and one-click execution of cross-chain swaps on top of the Bitcoin blockchain. It facilitates the private, off-chain execution of \u201csmart contracts\u201d for asset issuance, swaps, staking, liquidity, derivatives, and more, all peer-to-peer, without third-party custody or control.<\/p>\n
        Participation Details<\/p>\n
        Investors from around the world, including the residents and citizens of the United States, will be able to participate in the sale. They\u2019ll have the option to fund their purchases via fiat or in BTC, USDT, USDC or ETH.<\/p>\n
        The number of investors is limited to about 1,900. Portal expects the Reg D offering to sell out very fast.\u00a0<\/p>\n
        About Portal<\/b><\/p>\n
        Portal<\/u><\/a> is DeFi built on Bitcoin. It makes trade unstoppable with anonymous, zero-knowledge swaps via the first true cross-chain DEX that\u2019s trust-minimized. It eliminates the need for minting wrapped coins (ie wBTC, wETH) or risky staking with intermediaries. With Portal, DeFi becomes a service that anyone can provide, maintaining anonymity within open, transparent markets with a security model as robust as Bitcoin mining.\u00a0<\/p>\n
        Portal\u2019s Layer 2 and Layer 3 technology enables building censorship-resistant communications, media and one-click cross-chain swaps, all on Bitcoin.\u00a0<\/p>\n
        For further information, visit: Website<\/u><\/a> | Twitter<\/u><\/a> | Discord<\/u><\/a> | Telegram<\/u><\/a>\u00a0<\/p>
        Contacts<\/h5>
        George Burke<\/strong><\/li>
        [email protected]<\/strong><\/li><\/ul>\n","post_title":"Portal, Backed by Coinbase and Other Prominent Investors, Announces Republic Equity Offering","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"portal-backed-by-coinbase-and-other-prominent-investors-announces-republic-equity-offering","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:46","post_modified_gmt":"2022-09-13 12:20:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6000,"post_author":"4","post_date":"2022-07-03 21:17:52","post_date_gmt":"2022-07-03 11:17:52","post_content":"\n
        The Cryptocurrency exchange platform \u201cCoinbase\u201d has announced that it will be attempting to further expand its presence in European markets despite the recent downturn in the markets.<\/p>\n\n\n\n
        In a recent blog post<\/a> by the company, they announced that Coinbase aims to significantly strengthen its presence in the European market. The countries said to be included in this strengthening of presence are France, Spain, Italy, and the Netherlands. Coinbase aims to launch its suite of retail, institutional, and developer products.\u00a0<\/p><\/li><\/ul>\n\n\n\n
        Coinbase has stated that this is part of the recently announced \u2018 two-pronged growth strategy<\/a>\u2019 that aims to share how Coinbase will grow its presence internationally by \"going broad and going deep\" with its products, infrastructure, and services.\u00a0<\/li><\/ul>\n\n\n\n
        Coinbase has cited how they entered the U.K market in the midst of the bear market in 2015 and experienced great growth attempting to justify the further strengthening during the bear market, \u201cWhile markets will always be volatile, we believe the future is bright\u201d.<\/p><\/li><\/ul>\n\n\n\n
        This move for expansion comes after Coinbase unexpectedly laid off 18% of its employees in preparation for the \u2018Crypto winter\u201d.<\/p>
        <\/p>
        <\/p><\/li><\/ul>\n","post_title":"Coinbase Plans To Expand Further Into European Markets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-plans-to-expand-further-into-european-markets","to_ping":"","pinged":"","post_modified":"2022-07-04 19:36:21","post_modified_gmt":"2022-07-04 09:36:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6000","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":5945,"post_author":"4","post_date":"2022-07-01 21:46:40","post_date_gmt":"2022-07-01 11:46:40","post_content":"\n
        Reports have found that Coinbase tracer has reportedly been selling users\u2019 data to the U.S Immigration and Customs Enforcement agency (ICE) including \u2018Geo-location\u2019 data according to a contract<\/a> found by watchdog group Tech inquiry.<\/a><\/p>\n\n\n\n
        The contract revealed that a 3-year deal was made in September of 2021 between ICE, Coinbase, and the DHS which allowed the U.S Federal agency to access intelligence collector \u2018Coinbase Tracer\u2019 which contained information of its users including the \u2018Geo location\u2019 data of the user.<\/p><\/li><\/ul>\n\n\n\n
        The intent of this program was to reportedly assist ICE with tracking fraudulent or malicious transactions on the blockchain. However, this does not give I.C.E any new information, instead, it allows ICE to analyze data that is already publicly available on the blockchain.<\/span><\/p>
        <\/p><\/li><\/ul>\n\n\n\n
        Although, a representative from Coinbase stated that the data being transfered is customer data according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
        This comes as recent controversy has plagued Coinbase in recent times as the exchange lays off 18% of employees<\/a> in preparation for \u2018Crypto winter\u2019 as well as the Superbowl Ad controversy<\/a>.<\/p>
        <\/p>
        <\/p>
        <\/span><\/p><\/li><\/ul>\n","post_title":"Coinbase Found To Be Selling Geo-Location Data To U.S Federal Agency ICE","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-found-to-be-selling-geo-location-data-to-u-s-federal-agency-ice","to_ping":"","pinged":"","post_modified":"2022-07-01 22:51:04","post_modified_gmt":"2022-07-01 12:51:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=5945","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
        Artificial Intelligence
        
        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        Italy is the third largest market in the European Union behind Germany and France and it has become a target to expand to for various service providers including Binance which received regulatory approval to offer services<\/a> in early June.<\/li><\/ul>\n\n\n\n
        This announcement comes after an impressive marketing campaign from CryptoCom within the last few months including becoming the main sponsor of the World Cup<\/a> and a $700M deal to rename<\/a> the Staples Center to the CryptoCom Arena. Coinbase has been working hard behind the scenes, with this announcement coinciding with its plans to expand further into European markets<\/a>.<\/li><\/ul>\n","post_title":"CryptoCom And Coinbase Expand European Presence With Regulatory Approval In Italy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocom-and-coinbase-expand-european-presence-with-regulatory-approval-in-italy","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/binance-italys-registration-has-been-approved\/\nhttps:\/\/www.thedistributed.co\/crypto-com-is-the-main-sponsor-of-the-2022-world-cup\/","post_modified":"2022-07-21 21:11:31","post_modified_gmt":"2022-07-21 11:11:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6226,"post_author":"2","post_date":"2022-07-20 00:50:43","post_date_gmt":"2022-07-19 14:50:43","post_content":"\n
        San Francisco, United States, 19th July, 2022, Chainwire<\/strong><\/span><\/p>
        Portal<\/u><\/a>, a cross-chain Layer-2 DEX network being built on Bitcoin, is delighted to announce its Reg D equity offering through Republic<\/u><\/a>, a multi-asset investment platform that allows anyone to invest in vetted, private startups. The public sale began on Monday, July 18th.<\/p>\n
        Portal is extending the capabilities of Bitcoin to lay a more robust foundation for self-sovereign finance. The team truly believes that the participants make the project, and want to ensure that those who support delivery of a truly decentralized financial network, including collaborators, users, and Republic investors alike, enjoy the growth of the company as much as the founders do. By making ownership of Portal available to the public, it is extending the accessibility of its operations (and profits) to the wider masses.<\/p>\n
        According to Republic, their vetting process only approves 3% of startups to fundraise on the platform. The equity offering will allow the general public to invest in an ambitious project building DeFi on top of the Bitcoin blockchain.\u00a0<\/p>\n
        Portal CEO Eric Martindale said, \"The signal remains strong in the storm \u2014 Bitcoin remains the most likely candidate upon which the future of financial infrastructure will be built. \u00a0As Bitcoin's metrics continue to achieve all-time highs, Portal is eager to bring on this new round of investors in pursuit of advancing Bitcoin-based infrastructure and the continued decentralization of traditional financial services.<\/i>\"<\/p>\n
        The Reg D equity offering via Republic\u2019s platform comes as Portal prepares to launch its testnet in the coming weeks. It is building a full-fledged, censorship-resistant DeFi ecosystem on top of the Bitcoin network.<\/p>\n
        Though Bitcoin is often seen just as digital money, Portal is leveraging the Bitcoin network as the rails for building many layers of censorship-resistant financial applications on top of it. Every geopolitical event over the last year has reinforced the need for a censorship-resistant global financial system.<\/p>\n
        The peer-to-peer atomic swaps underpinning Portal provide true decentralization, enabling users to trade native Layer-1 assets across different blockchains without delays, blocked funds, or exploits.<\/p>\n
        Portal\u2019s Layer 2 and Layer 3 technology not only expands the cross-chain functionality of Bitcoin, but also simplifies building censorship-resistant communications, media and one-click execution of cross-chain swaps on top of the Bitcoin blockchain. It facilitates the private, off-chain execution of \u201csmart contracts\u201d for asset issuance, swaps, staking, liquidity, derivatives, and more, all peer-to-peer, without third-party custody or control.<\/p>\n
        Participation Details<\/p>\n
        Investors from around the world, including the residents and citizens of the United States, will be able to participate in the sale. They\u2019ll have the option to fund their purchases via fiat or in BTC, USDT, USDC or ETH.<\/p>\n
        The number of investors is limited to about 1,900. Portal expects the Reg D offering to sell out very fast.\u00a0<\/p>\n
        About Portal<\/b><\/p>\n
        Portal<\/u><\/a> is DeFi built on Bitcoin. It makes trade unstoppable with anonymous, zero-knowledge swaps via the first true cross-chain DEX that\u2019s trust-minimized. It eliminates the need for minting wrapped coins (ie wBTC, wETH) or risky staking with intermediaries. With Portal, DeFi becomes a service that anyone can provide, maintaining anonymity within open, transparent markets with a security model as robust as Bitcoin mining.\u00a0<\/p>\n
        Portal\u2019s Layer 2 and Layer 3 technology enables building censorship-resistant communications, media and one-click cross-chain swaps, all on Bitcoin.\u00a0<\/p>\n
        For further information, visit: Website<\/u><\/a> | Twitter<\/u><\/a> | Discord<\/u><\/a> | Telegram<\/u><\/a>\u00a0<\/p>
        Contacts<\/h5>
        George Burke<\/strong><\/li>
        [email protected]<\/strong><\/li><\/ul>\n","post_title":"Portal, Backed by Coinbase and Other Prominent Investors, Announces Republic Equity Offering","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"portal-backed-by-coinbase-and-other-prominent-investors-announces-republic-equity-offering","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:46","post_modified_gmt":"2022-09-13 12:20:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6000,"post_author":"4","post_date":"2022-07-03 21:17:52","post_date_gmt":"2022-07-03 11:17:52","post_content":"\n
        The Cryptocurrency exchange platform \u201cCoinbase\u201d has announced that it will be attempting to further expand its presence in European markets despite the recent downturn in the markets.<\/p>\n\n\n\n
        In a recent blog post<\/a> by the company, they announced that Coinbase aims to significantly strengthen its presence in the European market. The countries said to be included in this strengthening of presence are France, Spain, Italy, and the Netherlands. Coinbase aims to launch its suite of retail, institutional, and developer products.\u00a0<\/p><\/li><\/ul>\n\n\n\n
        Coinbase has stated that this is part of the recently announced \u2018 two-pronged growth strategy<\/a>\u2019 that aims to share how Coinbase will grow its presence internationally by \"going broad and going deep\" with its products, infrastructure, and services.\u00a0<\/li><\/ul>\n\n\n\n
        Coinbase has cited how they entered the U.K market in the midst of the bear market in 2015 and experienced great growth attempting to justify the further strengthening during the bear market, \u201cWhile markets will always be volatile, we believe the future is bright\u201d.<\/p><\/li><\/ul>\n\n\n\n
        This move for expansion comes after Coinbase unexpectedly laid off 18% of its employees in preparation for the \u2018Crypto winter\u201d.<\/p>
        <\/p>
        <\/p><\/li><\/ul>\n","post_title":"Coinbase Plans To Expand Further Into European Markets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-plans-to-expand-further-into-european-markets","to_ping":"","pinged":"","post_modified":"2022-07-04 19:36:21","post_modified_gmt":"2022-07-04 09:36:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6000","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":5945,"post_author":"4","post_date":"2022-07-01 21:46:40","post_date_gmt":"2022-07-01 11:46:40","post_content":"\n
        Reports have found that Coinbase tracer has reportedly been selling users\u2019 data to the U.S Immigration and Customs Enforcement agency (ICE) including \u2018Geo-location\u2019 data according to a contract<\/a> found by watchdog group Tech inquiry.<\/a><\/p>\n\n\n\n
        The contract revealed that a 3-year deal was made in September of 2021 between ICE, Coinbase, and the DHS which allowed the U.S Federal agency to access intelligence collector \u2018Coinbase Tracer\u2019 which contained information of its users including the \u2018Geo location\u2019 data of the user.<\/p><\/li><\/ul>\n\n\n\n
        The intent of this program was to reportedly assist ICE with tracking fraudulent or malicious transactions on the blockchain. However, this does not give I.C.E any new information, instead, it allows ICE to analyze data that is already publicly available on the blockchain.<\/span><\/p>
        <\/p><\/li><\/ul>\n\n\n\n
        Although, a representative from Coinbase stated that the data being transfered is customer data according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
        This comes as recent controversy has plagued Coinbase in recent times as the exchange lays off 18% of employees<\/a> in preparation for \u2018Crypto winter\u2019 as well as the Superbowl Ad controversy<\/a>.<\/p>
        <\/p>
        <\/p>
        <\/span><\/p><\/li><\/ul>\n","post_title":"Coinbase Found To Be Selling Geo-Location Data To U.S Federal Agency ICE","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-found-to-be-selling-geo-location-data-to-u-s-federal-agency-ice","to_ping":"","pinged":"","post_modified":"2022-07-01 22:51:04","post_modified_gmt":"2022-07-01 12:51:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=5945","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
        Artificial Intelligence
        
        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        Coinbase announced<\/a> that its application was approved by the OAM on July 18th. Coinbase V.P. of International and Business Development Nana Murugesan believes that \"gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators.\"<\/li><\/ul>\n\n\n\n
        Italy is the third largest market in the European Union behind Germany and France and it has become a target to expand to for various service providers including Binance which received regulatory approval to offer services<\/a> in early June.<\/li><\/ul>\n\n\n\n
        This announcement comes after an impressive marketing campaign from CryptoCom within the last few months including becoming the main sponsor of the World Cup<\/a> and a $700M deal to rename<\/a> the Staples Center to the CryptoCom Arena. Coinbase has been working hard behind the scenes, with this announcement coinciding with its plans to expand further into European markets<\/a>.<\/li><\/ul>\n","post_title":"CryptoCom And Coinbase Expand European Presence With Regulatory Approval In Italy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocom-and-coinbase-expand-european-presence-with-regulatory-approval-in-italy","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/binance-italys-registration-has-been-approved\/\nhttps:\/\/www.thedistributed.co\/crypto-com-is-the-main-sponsor-of-the-2022-world-cup\/","post_modified":"2022-07-21 21:11:31","post_modified_gmt":"2022-07-21 11:11:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6226,"post_author":"2","post_date":"2022-07-20 00:50:43","post_date_gmt":"2022-07-19 14:50:43","post_content":"\n
        San Francisco, United States, 19th July, 2022, Chainwire<\/strong><\/span><\/p>
        Portal<\/u><\/a>, a cross-chain Layer-2 DEX network being built on Bitcoin, is delighted to announce its Reg D equity offering through Republic<\/u><\/a>, a multi-asset investment platform that allows anyone to invest in vetted, private startups. The public sale began on Monday, July 18th.<\/p>\n
        Portal is extending the capabilities of Bitcoin to lay a more robust foundation for self-sovereign finance. The team truly believes that the participants make the project, and want to ensure that those who support delivery of a truly decentralized financial network, including collaborators, users, and Republic investors alike, enjoy the growth of the company as much as the founders do. By making ownership of Portal available to the public, it is extending the accessibility of its operations (and profits) to the wider masses.<\/p>\n
        According to Republic, their vetting process only approves 3% of startups to fundraise on the platform. The equity offering will allow the general public to invest in an ambitious project building DeFi on top of the Bitcoin blockchain.\u00a0<\/p>\n
        Portal CEO Eric Martindale said, \"The signal remains strong in the storm \u2014 Bitcoin remains the most likely candidate upon which the future of financial infrastructure will be built. \u00a0As Bitcoin's metrics continue to achieve all-time highs, Portal is eager to bring on this new round of investors in pursuit of advancing Bitcoin-based infrastructure and the continued decentralization of traditional financial services.<\/i>\"<\/p>\n
        The Reg D equity offering via Republic\u2019s platform comes as Portal prepares to launch its testnet in the coming weeks. It is building a full-fledged, censorship-resistant DeFi ecosystem on top of the Bitcoin network.<\/p>\n
        Though Bitcoin is often seen just as digital money, Portal is leveraging the Bitcoin network as the rails for building many layers of censorship-resistant financial applications on top of it. Every geopolitical event over the last year has reinforced the need for a censorship-resistant global financial system.<\/p>\n
        The peer-to-peer atomic swaps underpinning Portal provide true decentralization, enabling users to trade native Layer-1 assets across different blockchains without delays, blocked funds, or exploits.<\/p>\n
        Portal\u2019s Layer 2 and Layer 3 technology not only expands the cross-chain functionality of Bitcoin, but also simplifies building censorship-resistant communications, media and one-click execution of cross-chain swaps on top of the Bitcoin blockchain. It facilitates the private, off-chain execution of \u201csmart contracts\u201d for asset issuance, swaps, staking, liquidity, derivatives, and more, all peer-to-peer, without third-party custody or control.<\/p>\n
        Participation Details<\/p>\n
        Investors from around the world, including the residents and citizens of the United States, will be able to participate in the sale. They\u2019ll have the option to fund their purchases via fiat or in BTC, USDT, USDC or ETH.<\/p>\n
        The number of investors is limited to about 1,900. Portal expects the Reg D offering to sell out very fast.\u00a0<\/p>\n
        About Portal<\/b><\/p>\n
        Portal<\/u><\/a> is DeFi built on Bitcoin. It makes trade unstoppable with anonymous, zero-knowledge swaps via the first true cross-chain DEX that\u2019s trust-minimized. It eliminates the need for minting wrapped coins (ie wBTC, wETH) or risky staking with intermediaries. With Portal, DeFi becomes a service that anyone can provide, maintaining anonymity within open, transparent markets with a security model as robust as Bitcoin mining.\u00a0<\/p>\n
        Portal\u2019s Layer 2 and Layer 3 technology enables building censorship-resistant communications, media and one-click cross-chain swaps, all on Bitcoin.\u00a0<\/p>\n
        For further information, visit: Website<\/u><\/a> | Twitter<\/u><\/a> | Discord<\/u><\/a> | Telegram<\/u><\/a>\u00a0<\/p>
        Contacts<\/h5>
        George Burke<\/strong><\/li>
        [email protected]<\/strong><\/li><\/ul>\n","post_title":"Portal, Backed by Coinbase and Other Prominent Investors, Announces Republic Equity Offering","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"portal-backed-by-coinbase-and-other-prominent-investors-announces-republic-equity-offering","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:46","post_modified_gmt":"2022-09-13 12:20:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6000,"post_author":"4","post_date":"2022-07-03 21:17:52","post_date_gmt":"2022-07-03 11:17:52","post_content":"\n
        The Cryptocurrency exchange platform \u201cCoinbase\u201d has announced that it will be attempting to further expand its presence in European markets despite the recent downturn in the markets.<\/p>\n\n\n\n
        In a recent blog post<\/a> by the company, they announced that Coinbase aims to significantly strengthen its presence in the European market. The countries said to be included in this strengthening of presence are France, Spain, Italy, and the Netherlands. Coinbase aims to launch its suite of retail, institutional, and developer products.\u00a0<\/p><\/li><\/ul>\n\n\n\n
        Coinbase has stated that this is part of the recently announced \u2018 two-pronged growth strategy<\/a>\u2019 that aims to share how Coinbase will grow its presence internationally by \"going broad and going deep\" with its products, infrastructure, and services.\u00a0<\/li><\/ul>\n\n\n\n
        Coinbase has cited how they entered the U.K market in the midst of the bear market in 2015 and experienced great growth attempting to justify the further strengthening during the bear market, \u201cWhile markets will always be volatile, we believe the future is bright\u201d.<\/p><\/li><\/ul>\n\n\n\n
        This move for expansion comes after Coinbase unexpectedly laid off 18% of its employees in preparation for the \u2018Crypto winter\u201d.<\/p>
        <\/p>
        <\/p><\/li><\/ul>\n","post_title":"Coinbase Plans To Expand Further Into European Markets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-plans-to-expand-further-into-european-markets","to_ping":"","pinged":"","post_modified":"2022-07-04 19:36:21","post_modified_gmt":"2022-07-04 09:36:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6000","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":5945,"post_author":"4","post_date":"2022-07-01 21:46:40","post_date_gmt":"2022-07-01 11:46:40","post_content":"\n
        Reports have found that Coinbase tracer has reportedly been selling users\u2019 data to the U.S Immigration and Customs Enforcement agency (ICE) including \u2018Geo-location\u2019 data according to a contract<\/a> found by watchdog group Tech inquiry.<\/a><\/p>\n\n\n\n
        The contract revealed that a 3-year deal was made in September of 2021 between ICE, Coinbase, and the DHS which allowed the U.S Federal agency to access intelligence collector \u2018Coinbase Tracer\u2019 which contained information of its users including the \u2018Geo location\u2019 data of the user.<\/p><\/li><\/ul>\n\n\n\n
        The intent of this program was to reportedly assist ICE with tracking fraudulent or malicious transactions on the blockchain. However, this does not give I.C.E any new information, instead, it allows ICE to analyze data that is already publicly available on the blockchain.<\/span><\/p>
        <\/p><\/li><\/ul>\n\n\n\n
        Although, a representative from Coinbase stated that the data being transfered is customer data according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
        This comes as recent controversy has plagued Coinbase in recent times as the exchange lays off 18% of employees<\/a> in preparation for \u2018Crypto winter\u2019 as well as the Superbowl Ad controversy<\/a>.<\/p>
        <\/p>
        <\/p>
        <\/span><\/p><\/li><\/ul>\n","post_title":"Coinbase Found To Be Selling Geo-Location Data To U.S Federal Agency ICE","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-found-to-be-selling-geo-location-data-to-u-s-federal-agency-ice","to_ping":"","pinged":"","post_modified":"2022-07-01 22:51:04","post_modified_gmt":"2022-07-01 12:51:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=5945","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
        
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        Most Read
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
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        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
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        November 24, 2024
        
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        December 3, 2024
        
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        \n
        In an announcement<\/a> from CryptoCom, CEO and Co-Founder Kris Marszalek states that \u201cWe are excited to receive this registration in Italy and view it as a major step forward for Crypto.com.\u201d This allows the distribution of products and services within Italy that comply with local regulations.<\/li><\/ul>\n\n\n\n
        Coinbase announced<\/a> that its application was approved by the OAM on July 18th. Coinbase V.P. of International and Business Development Nana Murugesan believes that \"gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators.\"<\/li><\/ul>\n\n\n\n
        Italy is the third largest market in the European Union behind Germany and France and it has become a target to expand to for various service providers including Binance which received regulatory approval to offer services<\/a> in early June.<\/li><\/ul>\n\n\n\n
        This announcement comes after an impressive marketing campaign from CryptoCom within the last few months including becoming the main sponsor of the World Cup<\/a> and a $700M deal to rename<\/a> the Staples Center to the CryptoCom Arena. Coinbase has been working hard behind the scenes, with this announcement coinciding with its plans to expand further into European markets<\/a>.<\/li><\/ul>\n","post_title":"CryptoCom And Coinbase Expand European Presence With Regulatory Approval In Italy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocom-and-coinbase-expand-european-presence-with-regulatory-approval-in-italy","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/binance-italys-registration-has-been-approved\/\nhttps:\/\/www.thedistributed.co\/crypto-com-is-the-main-sponsor-of-the-2022-world-cup\/","post_modified":"2022-07-21 21:11:31","post_modified_gmt":"2022-07-21 11:11:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6226,"post_author":"2","post_date":"2022-07-20 00:50:43","post_date_gmt":"2022-07-19 14:50:43","post_content":"\n
        San Francisco, United States, 19th July, 2022, Chainwire<\/strong><\/span><\/p>
        Portal<\/u><\/a>, a cross-chain Layer-2 DEX network being built on Bitcoin, is delighted to announce its Reg D equity offering through Republic<\/u><\/a>, a multi-asset investment platform that allows anyone to invest in vetted, private startups. The public sale began on Monday, July 18th.<\/p>\n
        Portal is extending the capabilities of Bitcoin to lay a more robust foundation for self-sovereign finance. The team truly believes that the participants make the project, and want to ensure that those who support delivery of a truly decentralized financial network, including collaborators, users, and Republic investors alike, enjoy the growth of the company as much as the founders do. By making ownership of Portal available to the public, it is extending the accessibility of its operations (and profits) to the wider masses.<\/p>\n
        According to Republic, their vetting process only approves 3% of startups to fundraise on the platform. The equity offering will allow the general public to invest in an ambitious project building DeFi on top of the Bitcoin blockchain.\u00a0<\/p>\n
        Portal CEO Eric Martindale said, \"The signal remains strong in the storm \u2014 Bitcoin remains the most likely candidate upon which the future of financial infrastructure will be built. \u00a0As Bitcoin's metrics continue to achieve all-time highs, Portal is eager to bring on this new round of investors in pursuit of advancing Bitcoin-based infrastructure and the continued decentralization of traditional financial services.<\/i>\"<\/p>\n
        The Reg D equity offering via Republic\u2019s platform comes as Portal prepares to launch its testnet in the coming weeks. It is building a full-fledged, censorship-resistant DeFi ecosystem on top of the Bitcoin network.<\/p>\n
        Though Bitcoin is often seen just as digital money, Portal is leveraging the Bitcoin network as the rails for building many layers of censorship-resistant financial applications on top of it. Every geopolitical event over the last year has reinforced the need for a censorship-resistant global financial system.<\/p>\n
        The peer-to-peer atomic swaps underpinning Portal provide true decentralization, enabling users to trade native Layer-1 assets across different blockchains without delays, blocked funds, or exploits.<\/p>\n
        Portal\u2019s Layer 2 and Layer 3 technology not only expands the cross-chain functionality of Bitcoin, but also simplifies building censorship-resistant communications, media and one-click execution of cross-chain swaps on top of the Bitcoin blockchain. It facilitates the private, off-chain execution of \u201csmart contracts\u201d for asset issuance, swaps, staking, liquidity, derivatives, and more, all peer-to-peer, without third-party custody or control.<\/p>\n
        Participation Details<\/p>\n
        Investors from around the world, including the residents and citizens of the United States, will be able to participate in the sale. They\u2019ll have the option to fund their purchases via fiat or in BTC, USDT, USDC or ETH.<\/p>\n
        The number of investors is limited to about 1,900. Portal expects the Reg D offering to sell out very fast.\u00a0<\/p>\n
        About Portal<\/b><\/p>\n
        Portal<\/u><\/a> is DeFi built on Bitcoin. It makes trade unstoppable with anonymous, zero-knowledge swaps via the first true cross-chain DEX that\u2019s trust-minimized. It eliminates the need for minting wrapped coins (ie wBTC, wETH) or risky staking with intermediaries. With Portal, DeFi becomes a service that anyone can provide, maintaining anonymity within open, transparent markets with a security model as robust as Bitcoin mining.\u00a0<\/p>\n
        Portal\u2019s Layer 2 and Layer 3 technology enables building censorship-resistant communications, media and one-click cross-chain swaps, all on Bitcoin.\u00a0<\/p>\n
        For further information, visit: Website<\/u><\/a> | Twitter<\/u><\/a> | Discord<\/u><\/a> | Telegram<\/u><\/a>\u00a0<\/p>
        Contacts<\/h5>
        George Burke<\/strong><\/li>
        [email protected]<\/strong><\/li><\/ul>\n","post_title":"Portal, Backed by Coinbase and Other Prominent Investors, Announces Republic Equity Offering","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"portal-backed-by-coinbase-and-other-prominent-investors-announces-republic-equity-offering","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:46","post_modified_gmt":"2022-09-13 12:20:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6000,"post_author":"4","post_date":"2022-07-03 21:17:52","post_date_gmt":"2022-07-03 11:17:52","post_content":"\n
        The Cryptocurrency exchange platform \u201cCoinbase\u201d has announced that it will be attempting to further expand its presence in European markets despite the recent downturn in the markets.<\/p>\n\n\n\n
        In a recent blog post<\/a> by the company, they announced that Coinbase aims to significantly strengthen its presence in the European market. The countries said to be included in this strengthening of presence are France, Spain, Italy, and the Netherlands. Coinbase aims to launch its suite of retail, institutional, and developer products.\u00a0<\/p><\/li><\/ul>\n\n\n\n
        Coinbase has stated that this is part of the recently announced \u2018 two-pronged growth strategy<\/a>\u2019 that aims to share how Coinbase will grow its presence internationally by \"going broad and going deep\" with its products, infrastructure, and services.\u00a0<\/li><\/ul>\n\n\n\n
        Coinbase has cited how they entered the U.K market in the midst of the bear market in 2015 and experienced great growth attempting to justify the further strengthening during the bear market, \u201cWhile markets will always be volatile, we believe the future is bright\u201d.<\/p><\/li><\/ul>\n\n\n\n
        This move for expansion comes after Coinbase unexpectedly laid off 18% of its employees in preparation for the \u2018Crypto winter\u201d.<\/p>
        <\/p>
        <\/p><\/li><\/ul>\n","post_title":"Coinbase Plans To Expand Further Into European Markets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-plans-to-expand-further-into-european-markets","to_ping":"","pinged":"","post_modified":"2022-07-04 19:36:21","post_modified_gmt":"2022-07-04 09:36:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6000","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":5945,"post_author":"4","post_date":"2022-07-01 21:46:40","post_date_gmt":"2022-07-01 11:46:40","post_content":"\n
        Reports have found that Coinbase tracer has reportedly been selling users\u2019 data to the U.S Immigration and Customs Enforcement agency (ICE) including \u2018Geo-location\u2019 data according to a contract<\/a> found by watchdog group Tech inquiry.<\/a><\/p>\n\n\n\n
        The contract revealed that a 3-year deal was made in September of 2021 between ICE, Coinbase, and the DHS which allowed the U.S Federal agency to access intelligence collector \u2018Coinbase Tracer\u2019 which contained information of its users including the \u2018Geo location\u2019 data of the user.<\/p><\/li><\/ul>\n\n\n\n
        The intent of this program was to reportedly assist ICE with tracking fraudulent or malicious transactions on the blockchain. However, this does not give I.C.E any new information, instead, it allows ICE to analyze data that is already publicly available on the blockchain.<\/span><\/p>
        <\/p><\/li><\/ul>\n\n\n\n
        Although, a representative from Coinbase stated that the data being transfered is customer data according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
        This comes as recent controversy has plagued Coinbase in recent times as the exchange lays off 18% of employees<\/a> in preparation for \u2018Crypto winter\u2019 as well as the Superbowl Ad controversy<\/a>.<\/p>
        <\/p>
        <\/p>
        <\/span><\/p><\/li><\/ul>\n","post_title":"Coinbase Found To Be Selling Geo-Location Data To U.S Federal Agency ICE","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-found-to-be-selling-geo-location-data-to-u-s-federal-agency-ice","to_ping":"","pinged":"","post_modified":"2022-07-01 22:51:04","post_modified_gmt":"2022-07-01 12:51:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=5945","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
        Artificial Intelligence
        
        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        CryptoCom and Coinbase have received the green light to offer their services and products from the regulatory presence in Italy, Organismo Agenti e Mediatori (OAM).<\/p>\n\n\n\n
        In an announcement<\/a> from CryptoCom, CEO and Co-Founder Kris Marszalek states that \u201cWe are excited to receive this registration in Italy and view it as a major step forward for Crypto.com.\u201d This allows the distribution of products and services within Italy that comply with local regulations.<\/li><\/ul>\n\n\n\n
        Coinbase announced<\/a> that its application was approved by the OAM on July 18th. Coinbase V.P. of International and Business Development Nana Murugesan believes that \"gaining this regulatory approval is a testament to our close collaboration and positive working relationship with the Italian financial regulators.\"<\/li><\/ul>\n\n\n\n
        Italy is the third largest market in the European Union behind Germany and France and it has become a target to expand to for various service providers including Binance which received regulatory approval to offer services<\/a> in early June.<\/li><\/ul>\n\n\n\n
        This announcement comes after an impressive marketing campaign from CryptoCom within the last few months including becoming the main sponsor of the World Cup<\/a> and a $700M deal to rename<\/a> the Staples Center to the CryptoCom Arena. Coinbase has been working hard behind the scenes, with this announcement coinciding with its plans to expand further into European markets<\/a>.<\/li><\/ul>\n","post_title":"CryptoCom And Coinbase Expand European Presence With Regulatory Approval In Italy","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"cryptocom-and-coinbase-expand-european-presence-with-regulatory-approval-in-italy","to_ping":"","pinged":"https:\/\/www.thedistributed.co\/binance-italys-registration-has-been-approved\/\nhttps:\/\/www.thedistributed.co\/crypto-com-is-the-main-sponsor-of-the-2022-world-cup\/","post_modified":"2022-07-21 21:11:31","post_modified_gmt":"2022-07-21 11:11:31","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6234","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6226,"post_author":"2","post_date":"2022-07-20 00:50:43","post_date_gmt":"2022-07-19 14:50:43","post_content":"\n
        San Francisco, United States, 19th July, 2022, Chainwire<\/strong><\/span><\/p>
        Portal<\/u><\/a>, a cross-chain Layer-2 DEX network being built on Bitcoin, is delighted to announce its Reg D equity offering through Republic<\/u><\/a>, a multi-asset investment platform that allows anyone to invest in vetted, private startups. The public sale began on Monday, July 18th.<\/p>\n
        Portal is extending the capabilities of Bitcoin to lay a more robust foundation for self-sovereign finance. The team truly believes that the participants make the project, and want to ensure that those who support delivery of a truly decentralized financial network, including collaborators, users, and Republic investors alike, enjoy the growth of the company as much as the founders do. By making ownership of Portal available to the public, it is extending the accessibility of its operations (and profits) to the wider masses.<\/p>\n
        According to Republic, their vetting process only approves 3% of startups to fundraise on the platform. The equity offering will allow the general public to invest in an ambitious project building DeFi on top of the Bitcoin blockchain.\u00a0<\/p>\n
        Portal CEO Eric Martindale said, \"The signal remains strong in the storm \u2014 Bitcoin remains the most likely candidate upon which the future of financial infrastructure will be built. \u00a0As Bitcoin's metrics continue to achieve all-time highs, Portal is eager to bring on this new round of investors in pursuit of advancing Bitcoin-based infrastructure and the continued decentralization of traditional financial services.<\/i>\"<\/p>\n
        The Reg D equity offering via Republic\u2019s platform comes as Portal prepares to launch its testnet in the coming weeks. It is building a full-fledged, censorship-resistant DeFi ecosystem on top of the Bitcoin network.<\/p>\n
        Though Bitcoin is often seen just as digital money, Portal is leveraging the Bitcoin network as the rails for building many layers of censorship-resistant financial applications on top of it. Every geopolitical event over the last year has reinforced the need for a censorship-resistant global financial system.<\/p>\n
        The peer-to-peer atomic swaps underpinning Portal provide true decentralization, enabling users to trade native Layer-1 assets across different blockchains without delays, blocked funds, or exploits.<\/p>\n
        Portal\u2019s Layer 2 and Layer 3 technology not only expands the cross-chain functionality of Bitcoin, but also simplifies building censorship-resistant communications, media and one-click execution of cross-chain swaps on top of the Bitcoin blockchain. It facilitates the private, off-chain execution of \u201csmart contracts\u201d for asset issuance, swaps, staking, liquidity, derivatives, and more, all peer-to-peer, without third-party custody or control.<\/p>\n
        Participation Details<\/p>\n
        Investors from around the world, including the residents and citizens of the United States, will be able to participate in the sale. They\u2019ll have the option to fund their purchases via fiat or in BTC, USDT, USDC or ETH.<\/p>\n
        The number of investors is limited to about 1,900. Portal expects the Reg D offering to sell out very fast.\u00a0<\/p>\n
        About Portal<\/b><\/p>\n
        Portal<\/u><\/a> is DeFi built on Bitcoin. It makes trade unstoppable with anonymous, zero-knowledge swaps via the first true cross-chain DEX that\u2019s trust-minimized. It eliminates the need for minting wrapped coins (ie wBTC, wETH) or risky staking with intermediaries. With Portal, DeFi becomes a service that anyone can provide, maintaining anonymity within open, transparent markets with a security model as robust as Bitcoin mining.\u00a0<\/p>\n
        Portal\u2019s Layer 2 and Layer 3 technology enables building censorship-resistant communications, media and one-click cross-chain swaps, all on Bitcoin.\u00a0<\/p>\n
        For further information, visit: Website<\/u><\/a> | Twitter<\/u><\/a> | Discord<\/u><\/a> | Telegram<\/u><\/a>\u00a0<\/p>
        Contacts<\/h5>
        George Burke<\/strong><\/li>
        [email protected]<\/strong><\/li><\/ul>\n","post_title":"Portal, Backed by Coinbase and Other Prominent Investors, Announces Republic Equity Offering","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"portal-backed-by-coinbase-and-other-prominent-investors-announces-republic-equity-offering","to_ping":"","pinged":"","post_modified":"2022-09-13 22:20:46","post_modified_gmt":"2022-09-13 12:20:46","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6226","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":6000,"post_author":"4","post_date":"2022-07-03 21:17:52","post_date_gmt":"2022-07-03 11:17:52","post_content":"\n
        The Cryptocurrency exchange platform \u201cCoinbase\u201d has announced that it will be attempting to further expand its presence in European markets despite the recent downturn in the markets.<\/p>\n\n\n\n
        In a recent blog post<\/a> by the company, they announced that Coinbase aims to significantly strengthen its presence in the European market. The countries said to be included in this strengthening of presence are France, Spain, Italy, and the Netherlands. Coinbase aims to launch its suite of retail, institutional, and developer products.\u00a0<\/p><\/li><\/ul>\n\n\n\n
        Coinbase has stated that this is part of the recently announced \u2018 two-pronged growth strategy<\/a>\u2019 that aims to share how Coinbase will grow its presence internationally by \"going broad and going deep\" with its products, infrastructure, and services.\u00a0<\/li><\/ul>\n\n\n\n
        Coinbase has cited how they entered the U.K market in the midst of the bear market in 2015 and experienced great growth attempting to justify the further strengthening during the bear market, \u201cWhile markets will always be volatile, we believe the future is bright\u201d.<\/p><\/li><\/ul>\n\n\n\n
        This move for expansion comes after Coinbase unexpectedly laid off 18% of its employees in preparation for the \u2018Crypto winter\u201d.<\/p>
        <\/p>
        <\/p><\/li><\/ul>\n","post_title":"Coinbase Plans To Expand Further Into European Markets","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-plans-to-expand-further-into-european-markets","to_ping":"","pinged":"","post_modified":"2022-07-04 19:36:21","post_modified_gmt":"2022-07-04 09:36:21","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=6000","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":5945,"post_author":"4","post_date":"2022-07-01 21:46:40","post_date_gmt":"2022-07-01 11:46:40","post_content":"\n
        Reports have found that Coinbase tracer has reportedly been selling users\u2019 data to the U.S Immigration and Customs Enforcement agency (ICE) including \u2018Geo-location\u2019 data according to a contract<\/a> found by watchdog group Tech inquiry.<\/a><\/p>\n\n\n\n
        The contract revealed that a 3-year deal was made in September of 2021 between ICE, Coinbase, and the DHS which allowed the U.S Federal agency to access intelligence collector \u2018Coinbase Tracer\u2019 which contained information of its users including the \u2018Geo location\u2019 data of the user.<\/p><\/li><\/ul>\n\n\n\n
        The intent of this program was to reportedly assist ICE with tracking fraudulent or malicious transactions on the blockchain. However, this does not give I.C.E any new information, instead, it allows ICE to analyze data that is already publicly available on the blockchain.<\/span><\/p>
        <\/p><\/li><\/ul>\n\n\n\n
        Although, a representative from Coinbase stated that the data being transfered is customer data according to CoinDesk<\/a>.<\/li><\/ul>\n\n\n\n
        This comes as recent controversy has plagued Coinbase in recent times as the exchange lays off 18% of employees<\/a> in preparation for \u2018Crypto winter\u2019 as well as the Superbowl Ad controversy<\/a>.<\/p>
        <\/p>
        <\/p>
        <\/span><\/p><\/li><\/ul>\n","post_title":"Coinbase Found To Be Selling Geo-Location Data To U.S Federal Agency ICE","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"open","post_password":"","post_name":"coinbase-found-to-be-selling-geo-location-data-to-u-s-federal-agency-ice","to_ping":"","pinged":"","post_modified":"2022-07-01 22:51:04","post_modified_gmt":"2022-07-01 12:51:04","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=5945","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"}],"next":false,"total_page":false},"paged":1,"class":"jblog_block_13"};
        
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        \n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        \n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        \n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        \n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        \n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        \n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        \n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        \n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Follow The Distributed
        
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        \n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
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        ADVERTISEMENT
        
        \n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
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        \n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        December 3, 2024
        
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        Follow The Distributed
        
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        \n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        December 3, 2024
        
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        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
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        ADVERTISEMENT
        
        \n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        December 3, 2024
        
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        By subscribing, you agree with our privacy and terms.
        
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        Follow The Distributed
        
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        ADVERTISEMENT
        
        \n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
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        Follow The Distributed
        
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        \n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
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        \n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        By subscribing, you agree with our privacy and terms.
        
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        Follow The Distributed
        
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        \n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
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        November 24, 2024
        
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        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
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        November 24, 2024
        
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        December 3, 2024
        
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        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        November 24, 2024
        
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        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
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        November 24, 2024
        
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        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
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        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
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        November 24, 2024
        
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        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
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        December 19, 2024
        
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        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
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        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
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        November 24, 2024
        
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        December 3, 2024
        
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        By subscribing, you agree with our privacy and terms.
        
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        Follow The Distributed
        
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        \n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
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        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
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        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
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        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
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        \n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
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        November 24, 2024
        
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        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
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        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
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        November 24, 2024
        
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        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
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        By subscribing, you agree with our privacy and terms.
        
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        Follow The Distributed
        
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        \n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
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        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
        Artificial Intelligence
        
        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
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        \n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
        Artificial Intelligence
        
        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
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        November 24, 2024
        
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        \n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
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        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
        Artificial Intelligence
        
        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
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        \n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
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        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
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        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Most Read
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
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        December 19, 2024
        
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        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
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        December 3, 2024
        
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        \n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
        Artificial Intelligence
        
        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
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        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
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        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
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        November 24, 2024
        
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        December 3, 2024
        
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        \n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
        Artificial Intelligence
        
        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        SEC's Lawsuit<\/h2>\n\n\n\n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
        Artificial Intelligence
        
        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
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        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        See Related: <\/em><\/strong>SEC's Last-Minute Moves Could Pave The Way For Bitcoin ETFs<\/a><\/p>\n\n\n\n
        SEC's Lawsuit<\/h2>\n\n\n\n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
        Artificial Intelligence
        
        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        Bloomberg\u2019s Senior Litigation Analyst, Elliot Z. Stein, offered insights via a tweet <\/a>on Friday. After attending Coinbase\u2019s presentation in court on Wednesday, Stein assessed the exchange\u2019s chances of winning its motion to dismiss the SEC\u2019s accusations at a robust 70%. He notably stated, \u201cWe think Coinbase is likely to win this motion,\u201d in a research note shared on Twitter.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>SEC's Last-Minute Moves Could Pave The Way For Bitcoin ETFs<\/a><\/p>\n\n\n\n
        SEC's Lawsuit<\/h2>\n\n\n\n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
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        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
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        Follow The Distributed
        
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        \n
        Coinbase, a leading cryptocurrency exchange, seems to be on the brink of a significant triumph in its ongoing legal face-off with the U.S. Securities and Exchange Commission (SEC). This sentiment was echoed by legal experts after a critical court hearing this week.<\/p>\n\n\n\n
        Bloomberg\u2019s Senior Litigation Analyst, Elliot Z. Stein, offered insights via a tweet <\/a>on Friday. After attending Coinbase\u2019s presentation in court on Wednesday, Stein assessed the exchange\u2019s chances of winning its motion to dismiss the SEC\u2019s accusations at a robust 70%. He notably stated, \u201cWe think Coinbase is likely to win this motion,\u201d in a research note shared on Twitter.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>SEC's Last-Minute Moves Could Pave The Way For Bitcoin ETFs<\/a><\/p>\n\n\n\n
        SEC's Lawsuit<\/h2>\n\n\n\n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
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        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        As the case progresses through legal channels, stakeholders will closely monitor developments that could shape the regulatory landscape and influence the trajectory of the crypto market.<\/p>\n","post_title":"Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-challenges-sec-can-secondary-crypto-trades-be-securities","to_ping":"","pinged":"","post_modified":"2024-04-15 04:07:35","post_modified_gmt":"2024-04-14 18:07:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15067,"post_author":"15","post_date":"2024-01-22 00:51:52","post_date_gmt":"2024-01-21 13:51:52","post_content":"\n
        Coinbase, a leading cryptocurrency exchange, seems to be on the brink of a significant triumph in its ongoing legal face-off with the U.S. Securities and Exchange Commission (SEC). This sentiment was echoed by legal experts after a critical court hearing this week.<\/p>\n\n\n\n
        Bloomberg\u2019s Senior Litigation Analyst, Elliot Z. Stein, offered insights via a tweet <\/a>on Friday. After attending Coinbase\u2019s presentation in court on Wednesday, Stein assessed the exchange\u2019s chances of winning its motion to dismiss the SEC\u2019s accusations at a robust 70%. He notably stated, \u201cWe think Coinbase is likely to win this motion,\u201d in a research note shared on Twitter.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>SEC's Last-Minute Moves Could Pave The Way For Bitcoin ETFs<\/a><\/p>\n\n\n\n
        SEC's Lawsuit<\/h2>\n\n\n\n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
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        \n
        Meanwhile, the outcome of Coinbase's legal battle with the SEC holds significant implications for the broader crypto industry in the US. Regulatory clarity on the classification of digital assets as securities versus commodities is crucial for market participants, investors, and regulatory authorities.<\/p>\n\n\n\n
        As the case progresses through legal channels, stakeholders will closely monitor developments that could shape the regulatory landscape and influence the trajectory of the crypto market.<\/p>\n","post_title":"Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-challenges-sec-can-secondary-crypto-trades-be-securities","to_ping":"","pinged":"","post_modified":"2024-04-15 04:07:35","post_modified_gmt":"2024-04-14 18:07:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15067,"post_author":"15","post_date":"2024-01-22 00:51:52","post_date_gmt":"2024-01-21 13:51:52","post_content":"\n
        Coinbase, a leading cryptocurrency exchange, seems to be on the brink of a significant triumph in its ongoing legal face-off with the U.S. Securities and Exchange Commission (SEC). This sentiment was echoed by legal experts after a critical court hearing this week.<\/p>\n\n\n\n
        Bloomberg\u2019s Senior Litigation Analyst, Elliot Z. Stein, offered insights via a tweet <\/a>on Friday. After attending Coinbase\u2019s presentation in court on Wednesday, Stein assessed the exchange\u2019s chances of winning its motion to dismiss the SEC\u2019s accusations at a robust 70%. He notably stated, \u201cWe think Coinbase is likely to win this motion,\u201d in a research note shared on Twitter.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>SEC's Last-Minute Moves Could Pave The Way For Bitcoin ETFs<\/a><\/p>\n\n\n\n
        SEC's Lawsuit<\/h2>\n\n\n\n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
        Artificial Intelligence
        
        Introducing Gemini 2.0: Google’s Most Capable Model That Can Power AI Agents
        
        December 19, 2024
        
        Artificial Intelligence
        
        Introducing Gemini Live: Google’s New AI Feature That Allows Real-Time Conversations
        
        August 15, 2024
        
        Artificial Intelligence
        
        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
        Subscribe To Our Newsletter
        
        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
        Twitter Instagram Youtube LinkedIn Facebook RSS
        
        ADVERTISEMENT
        
        \n
        The outcome of this appeal is expected to clarify the boundaries of the authority of the securities regulator over crypto markets and establish a precedent for future regulatory disputes.<\/p>\n\n\n\n
        Meanwhile, the outcome of Coinbase's legal battle with the SEC holds significant implications for the broader crypto industry in the US. Regulatory clarity on the classification of digital assets as securities versus commodities is crucial for market participants, investors, and regulatory authorities.<\/p>\n\n\n\n
        As the case progresses through legal channels, stakeholders will closely monitor developments that could shape the regulatory landscape and influence the trajectory of the crypto market.<\/p>\n","post_title":"Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-challenges-sec-can-secondary-crypto-trades-be-securities","to_ping":"","pinged":"","post_modified":"2024-04-15 04:07:35","post_modified_gmt":"2024-04-14 18:07:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15067,"post_author":"15","post_date":"2024-01-22 00:51:52","post_date_gmt":"2024-01-21 13:51:52","post_content":"\n
        Coinbase, a leading cryptocurrency exchange, seems to be on the brink of a significant triumph in its ongoing legal face-off with the U.S. Securities and Exchange Commission (SEC). This sentiment was echoed by legal experts after a critical court hearing this week.<\/p>\n\n\n\n
        Bloomberg\u2019s Senior Litigation Analyst, Elliot Z. Stein, offered insights via a tweet <\/a>on Friday. After attending Coinbase\u2019s presentation in court on Wednesday, Stein assessed the exchange\u2019s chances of winning its motion to dismiss the SEC\u2019s accusations at a robust 70%. He notably stated, \u201cWe think Coinbase is likely to win this motion,\u201d in a research note shared on Twitter.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>SEC's Last-Minute Moves Could Pave The Way For Bitcoin ETFs<\/a><\/p>\n\n\n\n
        SEC's Lawsuit<\/h2>\n\n\n\n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        \n
        Coinbase argues that applying this test to digital asset transactions has led to an unclear understanding of securities regulation within the crypto space.<\/p>\n\n\n\n
        The outcome of this appeal is expected to clarify the boundaries of the authority of the securities regulator over crypto markets and establish a precedent for future regulatory disputes.<\/p>\n\n\n\n
        Meanwhile, the outcome of Coinbase's legal battle with the SEC holds significant implications for the broader crypto industry in the US. Regulatory clarity on the classification of digital assets as securities versus commodities is crucial for market participants, investors, and regulatory authorities.<\/p>\n\n\n\n
        As the case progresses through legal channels, stakeholders will closely monitor developments that could shape the regulatory landscape and influence the trajectory of the crypto market.<\/p>\n","post_title":"Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-challenges-sec-can-secondary-crypto-trades-be-securities","to_ping":"","pinged":"","post_modified":"2024-04-15 04:07:35","post_modified_gmt":"2024-04-14 18:07:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15067,"post_author":"15","post_date":"2024-01-22 00:51:52","post_date_gmt":"2024-01-21 13:51:52","post_content":"\n
        Coinbase, a leading cryptocurrency exchange, seems to be on the brink of a significant triumph in its ongoing legal face-off with the U.S. Securities and Exchange Commission (SEC). This sentiment was echoed by legal experts after a critical court hearing this week.<\/p>\n\n\n\n
        Bloomberg\u2019s Senior Litigation Analyst, Elliot Z. Stein, offered insights via a tweet <\/a>on Friday. After attending Coinbase\u2019s presentation in court on Wednesday, Stein assessed the exchange\u2019s chances of winning its motion to dismiss the SEC\u2019s accusations at a robust 70%. He notably stated, \u201cWe think Coinbase is likely to win this motion,\u201d in a research note shared on Twitter.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>SEC's Last-Minute Moves Could Pave The Way For Bitcoin ETFs<\/a><\/p>\n\n\n\n
        SEC's Lawsuit<\/h2>\n\n\n\n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
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        \n
        Application To Digital Asset Transactions<\/h2>\n\n\n\n
        Coinbase argues that applying this test to digital asset transactions has led to an unclear understanding of securities regulation within the crypto space.<\/p>\n\n\n\n
        The outcome of this appeal is expected to clarify the boundaries of the authority of the securities regulator over crypto markets and establish a precedent for future regulatory disputes.<\/p>\n\n\n\n
        Meanwhile, the outcome of Coinbase's legal battle with the SEC holds significant implications for the broader crypto industry in the US. Regulatory clarity on the classification of digital assets as securities versus commodities is crucial for market participants, investors, and regulatory authorities.<\/p>\n\n\n\n
        As the case progresses through legal channels, stakeholders will closely monitor developments that could shape the regulatory landscape and influence the trajectory of the crypto market.<\/p>\n","post_title":"Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-challenges-sec-can-secondary-crypto-trades-be-securities","to_ping":"","pinged":"","post_modified":"2024-04-15 04:07:35","post_modified_gmt":"2024-04-14 18:07:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15067,"post_author":"15","post_date":"2024-01-22 00:51:52","post_date_gmt":"2024-01-21 13:51:52","post_content":"\n
        Coinbase, a leading cryptocurrency exchange, seems to be on the brink of a significant triumph in its ongoing legal face-off with the U.S. Securities and Exchange Commission (SEC). This sentiment was echoed by legal experts after a critical court hearing this week.<\/p>\n\n\n\n
        Bloomberg\u2019s Senior Litigation Analyst, Elliot Z. Stein, offered insights via a tweet <\/a>on Friday. After attending Coinbase\u2019s presentation in court on Wednesday, Stein assessed the exchange\u2019s chances of winning its motion to dismiss the SEC\u2019s accusations at a robust 70%. He notably stated, \u201cWe think Coinbase is likely to win this motion,\u201d in a research note shared on Twitter.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>SEC's Last-Minute Moves Could Pave The Way For Bitcoin ETFs<\/a><\/p>\n\n\n\n
        SEC's Lawsuit<\/h2>\n\n\n\n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
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        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
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        ADVERTISEMENT
        
        \n
        See Related: <\/em><\/strong>Binance Faces Legal Battle As Appeals Court Revives Class Action Lawsuit<\/a><\/p>\n\n\n\n
        Application To Digital Asset Transactions<\/h2>\n\n\n\n
        Coinbase argues that applying this test to digital asset transactions has led to an unclear understanding of securities regulation within the crypto space.<\/p>\n\n\n\n
        The outcome of this appeal is expected to clarify the boundaries of the authority of the securities regulator over crypto markets and establish a precedent for future regulatory disputes.<\/p>\n\n\n\n
        Meanwhile, the outcome of Coinbase's legal battle with the SEC holds significant implications for the broader crypto industry in the US. Regulatory clarity on the classification of digital assets as securities versus commodities is crucial for market participants, investors, and regulatory authorities.<\/p>\n\n\n\n
        As the case progresses through legal channels, stakeholders will closely monitor developments that could shape the regulatory landscape and influence the trajectory of the crypto market.<\/p>\n","post_title":"Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-challenges-sec-can-secondary-crypto-trades-be-securities","to_ping":"","pinged":"","post_modified":"2024-04-15 04:07:35","post_modified_gmt":"2024-04-14 18:07:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15067,"post_author":"15","post_date":"2024-01-22 00:51:52","post_date_gmt":"2024-01-21 13:51:52","post_content":"\n
        Coinbase, a leading cryptocurrency exchange, seems to be on the brink of a significant triumph in its ongoing legal face-off with the U.S. Securities and Exchange Commission (SEC). This sentiment was echoed by legal experts after a critical court hearing this week.<\/p>\n\n\n\n
        Bloomberg\u2019s Senior Litigation Analyst, Elliot Z. Stein, offered insights via a tweet <\/a>on Friday. After attending Coinbase\u2019s presentation in court on Wednesday, Stein assessed the exchange\u2019s chances of winning its motion to dismiss the SEC\u2019s accusations at a robust 70%. He notably stated, \u201cWe think Coinbase is likely to win this motion,\u201d in a research note shared on Twitter.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>SEC's Last-Minute Moves Could Pave The Way For Bitcoin ETFs<\/a><\/p>\n\n\n\n
        SEC's Lawsuit<\/h2>\n\n\n\n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
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        \n
        At the center of Coinbase's appeal is the application of the Howey test, a legal framework used by the SEC to determine whether certain transactions qualify as investment contracts.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Faces Legal Battle As Appeals Court Revives Class Action Lawsuit<\/a><\/p>\n\n\n\n
        Application To Digital Asset Transactions<\/h2>\n\n\n\n
        Coinbase argues that applying this test to digital asset transactions has led to an unclear understanding of securities regulation within the crypto space.<\/p>\n\n\n\n
        The outcome of this appeal is expected to clarify the boundaries of the authority of the securities regulator over crypto markets and establish a precedent for future regulatory disputes.<\/p>\n\n\n\n
        Meanwhile, the outcome of Coinbase's legal battle with the SEC holds significant implications for the broader crypto industry in the US. Regulatory clarity on the classification of digital assets as securities versus commodities is crucial for market participants, investors, and regulatory authorities.<\/p>\n\n\n\n
        As the case progresses through legal channels, stakeholders will closely monitor developments that could shape the regulatory landscape and influence the trajectory of the crypto market.<\/p>\n","post_title":"Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-challenges-sec-can-secondary-crypto-trades-be-securities","to_ping":"","pinged":"","post_modified":"2024-04-15 04:07:35","post_modified_gmt":"2024-04-14 18:07:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15067,"post_author":"15","post_date":"2024-01-22 00:51:52","post_date_gmt":"2024-01-21 13:51:52","post_content":"\n
        Coinbase, a leading cryptocurrency exchange, seems to be on the brink of a significant triumph in its ongoing legal face-off with the U.S. Securities and Exchange Commission (SEC). This sentiment was echoed by legal experts after a critical court hearing this week.<\/p>\n\n\n\n
        Bloomberg\u2019s Senior Litigation Analyst, Elliot Z. Stein, offered insights via a tweet <\/a>on Friday. After attending Coinbase\u2019s presentation in court on Wednesday, Stein assessed the exchange\u2019s chances of winning its motion to dismiss the SEC\u2019s accusations at a robust 70%. He notably stated, \u201cWe think Coinbase is likely to win this motion,\u201d in a research note shared on Twitter.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>SEC's Last-Minute Moves Could Pave The Way For Bitcoin ETFs<\/a><\/p>\n\n\n\n
        SEC's Lawsuit<\/h2>\n\n\n\n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
        1 2 Next
        
        Most Read
        
        Cryptocurrencies
        
        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
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        Microsoft Updates Microsoft Azure AI Studio: Introducing Microsoft Azure AI Foundry
        
        November 24, 2024
        
        Artificial Intelligence
        
        Amazon Commits $4 Billion Investment In Anthropic To Power The Generation Of AI Development
        
        December 3, 2024
        
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        By subscribing, you agree with our privacy and terms.
        
        Type your email here
        
        Follow The Distributed
        
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        ADVERTISEMENT
        
        \n
        Coinbase's appeal challenges the SEC's ability to classify digital asset transactions as investment contracts, particularly when these transactions lack any obligation to the original issuer. By filing for an interlocutory appeal, the digital asset exchange aims to isolate and scrutinize this legal contention. The legal matter has been presented for review by the US Court of Appeals for the Second Circuit.<\/p>\n\n\n\n
        At the center of Coinbase's appeal is the application of the Howey test, a legal framework used by the SEC to determine whether certain transactions qualify as investment contracts.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Faces Legal Battle As Appeals Court Revives Class Action Lawsuit<\/a><\/p>\n\n\n\n
        Application To Digital Asset Transactions<\/h2>\n\n\n\n
        Coinbase argues that applying this test to digital asset transactions has led to an unclear understanding of securities regulation within the crypto space.<\/p>\n\n\n\n
        The outcome of this appeal is expected to clarify the boundaries of the authority of the securities regulator over crypto markets and establish a precedent for future regulatory disputes.<\/p>\n\n\n\n
        Meanwhile, the outcome of Coinbase's legal battle with the SEC holds significant implications for the broader crypto industry in the US. Regulatory clarity on the classification of digital assets as securities versus commodities is crucial for market participants, investors, and regulatory authorities.<\/p>\n\n\n\n
        As the case progresses through legal channels, stakeholders will closely monitor developments that could shape the regulatory landscape and influence the trajectory of the crypto market.<\/p>\n","post_title":"Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-challenges-sec-can-secondary-crypto-trades-be-securities","to_ping":"","pinged":"","post_modified":"2024-04-15 04:07:35","post_modified_gmt":"2024-04-14 18:07:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15067,"post_author":"15","post_date":"2024-01-22 00:51:52","post_date_gmt":"2024-01-21 13:51:52","post_content":"\n
        Coinbase, a leading cryptocurrency exchange, seems to be on the brink of a significant triumph in its ongoing legal face-off with the U.S. Securities and Exchange Commission (SEC). This sentiment was echoed by legal experts after a critical court hearing this week.<\/p>\n\n\n\n
        Bloomberg\u2019s Senior Litigation Analyst, Elliot Z. Stein, offered insights via a tweet <\/a>on Friday. After attending Coinbase\u2019s presentation in court on Wednesday, Stein assessed the exchange\u2019s chances of winning its motion to dismiss the SEC\u2019s accusations at a robust 70%. He notably stated, \u201cWe think Coinbase is likely to win this motion,\u201d in a research note shared on Twitter.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>SEC's Last-Minute Moves Could Pave The Way For Bitcoin ETFs<\/a><\/p>\n\n\n\n
        SEC's Lawsuit<\/h2>\n\n\n\n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        \n
        The filing<\/a> before the District Court for the Southern District of New York dated April 12, signifies an attempt by the crypto exchange to address an important legal aspect within the crypto industry's ongoing battle with regulatory bodies. This matter highlights a longstanding ambiguity surrounding the classification of digital assets.<\/p>\n\n\n\n
        Coinbase's appeal challenges the SEC's ability to classify digital asset transactions as investment contracts, particularly when these transactions lack any obligation to the original issuer. By filing for an interlocutory appeal, the digital asset exchange aims to isolate and scrutinize this legal contention. The legal matter has been presented for review by the US Court of Appeals for the Second Circuit.<\/p>\n\n\n\n
        At the center of Coinbase's appeal is the application of the Howey test, a legal framework used by the SEC to determine whether certain transactions qualify as investment contracts.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Faces Legal Battle As Appeals Court Revives Class Action Lawsuit<\/a><\/p>\n\n\n\n
        Application To Digital Asset Transactions<\/h2>\n\n\n\n
        Coinbase argues that applying this test to digital asset transactions has led to an unclear understanding of securities regulation within the crypto space.<\/p>\n\n\n\n
        The outcome of this appeal is expected to clarify the boundaries of the authority of the securities regulator over crypto markets and establish a precedent for future regulatory disputes.<\/p>\n\n\n\n
        Meanwhile, the outcome of Coinbase's legal battle with the SEC holds significant implications for the broader crypto industry in the US. Regulatory clarity on the classification of digital assets as securities versus commodities is crucial for market participants, investors, and regulatory authorities.<\/p>\n\n\n\n
        As the case progresses through legal channels, stakeholders will closely monitor developments that could shape the regulatory landscape and influence the trajectory of the crypto market.<\/p>\n","post_title":"Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-challenges-sec-can-secondary-crypto-trades-be-securities","to_ping":"","pinged":"","post_modified":"2024-04-15 04:07:35","post_modified_gmt":"2024-04-14 18:07:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15067,"post_author":"15","post_date":"2024-01-22 00:51:52","post_date_gmt":"2024-01-21 13:51:52","post_content":"\n
        Coinbase, a leading cryptocurrency exchange, seems to be on the brink of a significant triumph in its ongoing legal face-off with the U.S. Securities and Exchange Commission (SEC). This sentiment was echoed by legal experts after a critical court hearing this week.<\/p>\n\n\n\n
        Bloomberg\u2019s Senior Litigation Analyst, Elliot Z. Stein, offered insights via a tweet <\/a>on Friday. After attending Coinbase\u2019s presentation in court on Wednesday, Stein assessed the exchange\u2019s chances of winning its motion to dismiss the SEC\u2019s accusations at a robust 70%. He notably stated, \u201cWe think Coinbase is likely to win this motion,\u201d in a research note shared on Twitter.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>SEC's Last-Minute Moves Could Pave The Way For Bitcoin ETFs<\/a><\/p>\n\n\n\n
        SEC's Lawsuit<\/h2>\n\n\n\n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
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        \n
        Coinbase has filed an appeal targeting a crucial legal aspect concerning the authority of the Securities and Exchange Commission (SEC) over digital asset transactions, specifically treating secondary trades as investment contracts.<\/p>\n\n\n\n
        The filing<\/a> before the District Court for the Southern District of New York dated April 12, signifies an attempt by the crypto exchange to address an important legal aspect within the crypto industry's ongoing battle with regulatory bodies. This matter highlights a longstanding ambiguity surrounding the classification of digital assets.<\/p>\n\n\n\n
        Coinbase's appeal challenges the SEC's ability to classify digital asset transactions as investment contracts, particularly when these transactions lack any obligation to the original issuer. By filing for an interlocutory appeal, the digital asset exchange aims to isolate and scrutinize this legal contention. The legal matter has been presented for review by the US Court of Appeals for the Second Circuit.<\/p>\n\n\n\n
        At the center of Coinbase's appeal is the application of the Howey test, a legal framework used by the SEC to determine whether certain transactions qualify as investment contracts.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Faces Legal Battle As Appeals Court Revives Class Action Lawsuit<\/a><\/p>\n\n\n\n
        Application To Digital Asset Transactions<\/h2>\n\n\n\n
        Coinbase argues that applying this test to digital asset transactions has led to an unclear understanding of securities regulation within the crypto space.<\/p>\n\n\n\n
        The outcome of this appeal is expected to clarify the boundaries of the authority of the securities regulator over crypto markets and establish a precedent for future regulatory disputes.<\/p>\n\n\n\n
        Meanwhile, the outcome of Coinbase's legal battle with the SEC holds significant implications for the broader crypto industry in the US. Regulatory clarity on the classification of digital assets as securities versus commodities is crucial for market participants, investors, and regulatory authorities.<\/p>\n\n\n\n
        As the case progresses through legal channels, stakeholders will closely monitor developments that could shape the regulatory landscape and influence the trajectory of the crypto market.<\/p>\n","post_title":"Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-challenges-sec-can-secondary-crypto-trades-be-securities","to_ping":"","pinged":"","post_modified":"2024-04-15 04:07:35","post_modified_gmt":"2024-04-14 18:07:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15067,"post_author":"15","post_date":"2024-01-22 00:51:52","post_date_gmt":"2024-01-21 13:51:52","post_content":"\n
        Coinbase, a leading cryptocurrency exchange, seems to be on the brink of a significant triumph in its ongoing legal face-off with the U.S. Securities and Exchange Commission (SEC). This sentiment was echoed by legal experts after a critical court hearing this week.<\/p>\n\n\n\n
        Bloomberg\u2019s Senior Litigation Analyst, Elliot Z. Stein, offered insights via a tweet <\/a>on Friday. After attending Coinbase\u2019s presentation in court on Wednesday, Stein assessed the exchange\u2019s chances of winning its motion to dismiss the SEC\u2019s accusations at a robust 70%. He notably stated, \u201cWe think Coinbase is likely to win this motion,\u201d in a research note shared on Twitter.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>SEC's Last-Minute Moves Could Pave The Way For Bitcoin ETFs<\/a><\/p>\n\n\n\n
        SEC's Lawsuit<\/h2>\n\n\n\n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?
        
        April 15, 2024
        
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        \n
        Coinbase argues that applying the Howey test to digital asset transactions has confused.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has filed an appeal targeting a crucial legal aspect concerning the authority of the Securities and Exchange Commission (SEC) over digital asset transactions, specifically treating secondary trades as investment contracts.<\/p>\n\n\n\n
        The filing<\/a> before the District Court for the Southern District of New York dated April 12, signifies an attempt by the crypto exchange to address an important legal aspect within the crypto industry's ongoing battle with regulatory bodies. This matter highlights a longstanding ambiguity surrounding the classification of digital assets.<\/p>\n\n\n\n
        Coinbase's appeal challenges the SEC's ability to classify digital asset transactions as investment contracts, particularly when these transactions lack any obligation to the original issuer. By filing for an interlocutory appeal, the digital asset exchange aims to isolate and scrutinize this legal contention. The legal matter has been presented for review by the US Court of Appeals for the Second Circuit.<\/p>\n\n\n\n
        At the center of Coinbase's appeal is the application of the Howey test, a legal framework used by the SEC to determine whether certain transactions qualify as investment contracts.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Faces Legal Battle As Appeals Court Revives Class Action Lawsuit<\/a><\/p>\n\n\n\n
        Application To Digital Asset Transactions<\/h2>\n\n\n\n
        Coinbase argues that applying this test to digital asset transactions has led to an unclear understanding of securities regulation within the crypto space.<\/p>\n\n\n\n
        The outcome of this appeal is expected to clarify the boundaries of the authority of the securities regulator over crypto markets and establish a precedent for future regulatory disputes.<\/p>\n\n\n\n
        Meanwhile, the outcome of Coinbase's legal battle with the SEC holds significant implications for the broader crypto industry in the US. Regulatory clarity on the classification of digital assets as securities versus commodities is crucial for market participants, investors, and regulatory authorities.<\/p>\n\n\n\n
        As the case progresses through legal channels, stakeholders will closely monitor developments that could shape the regulatory landscape and influence the trajectory of the crypto market.<\/p>\n","post_title":"Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-challenges-sec-can-secondary-crypto-trades-be-securities","to_ping":"","pinged":"","post_modified":"2024-04-15 04:07:35","post_modified_gmt":"2024-04-14 18:07:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15067,"post_author":"15","post_date":"2024-01-22 00:51:52","post_date_gmt":"2024-01-21 13:51:52","post_content":"\n
        Coinbase, a leading cryptocurrency exchange, seems to be on the brink of a significant triumph in its ongoing legal face-off with the U.S. Securities and Exchange Commission (SEC). This sentiment was echoed by legal experts after a critical court hearing this week.<\/p>\n\n\n\n
        Bloomberg\u2019s Senior Litigation Analyst, Elliot Z. Stein, offered insights via a tweet <\/a>on Friday. After attending Coinbase\u2019s presentation in court on Wednesday, Stein assessed the exchange\u2019s chances of winning its motion to dismiss the SEC\u2019s accusations at a robust 70%. He notably stated, \u201cWe think Coinbase is likely to win this motion,\u201d in a research note shared on Twitter.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>SEC's Last-Minute Moves Could Pave The Way For Bitcoin ETFs<\/a><\/p>\n\n\n\n
        SEC's Lawsuit<\/h2>\n\n\n\n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        \n
        The crypto exchange is questioning whether the SEC can regulate crypto trades that are not tied to issuers.<\/li>\n\n\n\n
        Coinbase argues that applying the Howey test to digital asset transactions has confused.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has filed an appeal targeting a crucial legal aspect concerning the authority of the Securities and Exchange Commission (SEC) over digital asset transactions, specifically treating secondary trades as investment contracts.<\/p>\n\n\n\n
        The filing<\/a> before the District Court for the Southern District of New York dated April 12, signifies an attempt by the crypto exchange to address an important legal aspect within the crypto industry's ongoing battle with regulatory bodies. This matter highlights a longstanding ambiguity surrounding the classification of digital assets.<\/p>\n\n\n\n
        Coinbase's appeal challenges the SEC's ability to classify digital asset transactions as investment contracts, particularly when these transactions lack any obligation to the original issuer. By filing for an interlocutory appeal, the digital asset exchange aims to isolate and scrutinize this legal contention. The legal matter has been presented for review by the US Court of Appeals for the Second Circuit.<\/p>\n\n\n\n
        At the center of Coinbase's appeal is the application of the Howey test, a legal framework used by the SEC to determine whether certain transactions qualify as investment contracts.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Faces Legal Battle As Appeals Court Revives Class Action Lawsuit<\/a><\/p>\n\n\n\n
        Application To Digital Asset Transactions<\/h2>\n\n\n\n
        Coinbase argues that applying this test to digital asset transactions has led to an unclear understanding of securities regulation within the crypto space.<\/p>\n\n\n\n
        The outcome of this appeal is expected to clarify the boundaries of the authority of the securities regulator over crypto markets and establish a precedent for future regulatory disputes.<\/p>\n\n\n\n
        Meanwhile, the outcome of Coinbase's legal battle with the SEC holds significant implications for the broader crypto industry in the US. Regulatory clarity on the classification of digital assets as securities versus commodities is crucial for market participants, investors, and regulatory authorities.<\/p>\n\n\n\n
        As the case progresses through legal channels, stakeholders will closely monitor developments that could shape the regulatory landscape and influence the trajectory of the crypto market.<\/p>\n","post_title":"Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-challenges-sec-can-secondary-crypto-trades-be-securities","to_ping":"","pinged":"","post_modified":"2024-04-15 04:07:35","post_modified_gmt":"2024-04-14 18:07:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15067,"post_author":"15","post_date":"2024-01-22 00:51:52","post_date_gmt":"2024-01-21 13:51:52","post_content":"\n
        Coinbase, a leading cryptocurrency exchange, seems to be on the brink of a significant triumph in its ongoing legal face-off with the U.S. Securities and Exchange Commission (SEC). This sentiment was echoed by legal experts after a critical court hearing this week.<\/p>\n\n\n\n
        Bloomberg\u2019s Senior Litigation Analyst, Elliot Z. Stein, offered insights via a tweet <\/a>on Friday. After attending Coinbase\u2019s presentation in court on Wednesday, Stein assessed the exchange\u2019s chances of winning its motion to dismiss the SEC\u2019s accusations at a robust 70%. He notably stated, \u201cWe think Coinbase is likely to win this motion,\u201d in a research note shared on Twitter.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>SEC's Last-Minute Moves Could Pave The Way For Bitcoin ETFs<\/a><\/p>\n\n\n\n
        SEC's Lawsuit<\/h2>\n\n\n\n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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        \n
        \n
        The crypto exchange is questioning whether the SEC can regulate crypto trades that are not tied to issuers.<\/li>\n\n\n\n
        Coinbase argues that applying the Howey test to digital asset transactions has confused.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has filed an appeal targeting a crucial legal aspect concerning the authority of the Securities and Exchange Commission (SEC) over digital asset transactions, specifically treating secondary trades as investment contracts.<\/p>\n\n\n\n
        The filing<\/a> before the District Court for the Southern District of New York dated April 12, signifies an attempt by the crypto exchange to address an important legal aspect within the crypto industry's ongoing battle with regulatory bodies. This matter highlights a longstanding ambiguity surrounding the classification of digital assets.<\/p>\n\n\n\n
        Coinbase's appeal challenges the SEC's ability to classify digital asset transactions as investment contracts, particularly when these transactions lack any obligation to the original issuer. By filing for an interlocutory appeal, the digital asset exchange aims to isolate and scrutinize this legal contention. The legal matter has been presented for review by the US Court of Appeals for the Second Circuit.<\/p>\n\n\n\n
        At the center of Coinbase's appeal is the application of the Howey test, a legal framework used by the SEC to determine whether certain transactions qualify as investment contracts.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Faces Legal Battle As Appeals Court Revives Class Action Lawsuit<\/a><\/p>\n\n\n\n
        Application To Digital Asset Transactions<\/h2>\n\n\n\n
        Coinbase argues that applying this test to digital asset transactions has led to an unclear understanding of securities regulation within the crypto space.<\/p>\n\n\n\n
        The outcome of this appeal is expected to clarify the boundaries of the authority of the securities regulator over crypto markets and establish a precedent for future regulatory disputes.<\/p>\n\n\n\n
        Meanwhile, the outcome of Coinbase's legal battle with the SEC holds significant implications for the broader crypto industry in the US. Regulatory clarity on the classification of digital assets as securities versus commodities is crucial for market participants, investors, and regulatory authorities.<\/p>\n\n\n\n
        As the case progresses through legal channels, stakeholders will closely monitor developments that could shape the regulatory landscape and influence the trajectory of the crypto market.<\/p>\n","post_title":"Coinbase Challenges SEC: Can Secondary Crypto Trades Be Securities?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-challenges-sec-can-secondary-crypto-trades-be-securities","to_ping":"","pinged":"","post_modified":"2024-04-15 04:07:35","post_modified_gmt":"2024-04-14 18:07:35","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=16371","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15067,"post_author":"15","post_date":"2024-01-22 00:51:52","post_date_gmt":"2024-01-21 13:51:52","post_content":"\n
        Coinbase, a leading cryptocurrency exchange, seems to be on the brink of a significant triumph in its ongoing legal face-off with the U.S. Securities and Exchange Commission (SEC). This sentiment was echoed by legal experts after a critical court hearing this week.<\/p>\n\n\n\n
        Bloomberg\u2019s Senior Litigation Analyst, Elliot Z. Stein, offered insights via a tweet <\/a>on Friday. After attending Coinbase\u2019s presentation in court on Wednesday, Stein assessed the exchange\u2019s chances of winning its motion to dismiss the SEC\u2019s accusations at a robust 70%. He notably stated, \u201cWe think Coinbase is likely to win this motion,\u201d in a research note shared on Twitter.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>SEC's Last-Minute Moves Could Pave The Way For Bitcoin ETFs<\/a><\/p>\n\n\n\n
        SEC's Lawsuit<\/h2>\n\n\n\n
        In June, Coinbase asserted in a legal motion that the tokens implicated in the SEC\u2019s lawsuit do not fit the conventional definition of an investment contract. Consequently, the company argued, these tokens shouldn\u2019t be classified as securities, and Coinbase itself shouldn't be labeled an unregistered securities exchange.<\/p>\n\n\n\n
        Judge Katherine Polk Failla, presiding over the case, challenged the SEC to define \u201cinvestment contract\u201d in a way that wouldn\u2019t inadvertently include non-threatening collectibles like Beanie Babies. Conversely, Stein found Coinbase\u2019s<\/a> definition, which requires crypto investors to buy into a \u201cbusiness\u201d rather than just an ecosystem, more convincing. This definition could potentially exempt both the cryptocurrency sales and staking services on Coinbase\u2019s platform from SEC regulation.<\/p>\n\n\n\n
        The Howey Test, established in the 1940s, serves as the benchmark for identifying investment contracts. It involves four criteria: an investment of money, in a common enterprise, with the expectation of profits, primarily from the efforts of others. University of Kentucky law professor Brian L. Frye underscored that while the SEC has the authority to regulate collectibles under Howey, it has opted not to do so.<\/p>\n\n\n\n
        In June, Coinbase filed a detailed motion to dismiss the SEC\u2019s case, contending that the SEC lacks statutory authority over the exchange. Paul Grewal, Coinbase\u2019s Chief Legal Officer, emphasized the untenability of the SEC\u2019s position regarding its powers.<\/p>\n\n\n\n
        Experts have mixed views on the outcome. While some, like Frye, lean towards the district court favoring Coinbase, others, such as Joe Carlasare of Amundsen Davis law firm, are more cautious, estimating a less than 30% chance of Coinbase achieving a complete dismissal of all charges.<\/p>\n","post_title":"Is Coinbase Set To Overturn SEC\u2019s Allegations In High-Stakes Legal Battle?","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"is-coinbase-set-to-overturn-secs-allegations-in-high-stakes-legal-battle","to_ping":"","pinged":"","post_modified":"2024-01-22 00:51:55","post_modified_gmt":"2024-01-21 13:51:55","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15067","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":15026,"post_author":"21","post_date":"2024-01-19 08:10:46","post_date_gmt":"2024-01-18 21:10:46","post_content":"\n
        \n
        Asia-Pacific controls 29% of the global USDC digital currency value.<\/li>\n\n\n\n
        USDC has been most helpful in remittances in emerging economies.<\/li>\n<\/ul>\n\n\n\n
        Stablecoin<\/a> USDC is gaining traction in emerging markets, according to a new report<\/a> by issuer Circle. Circle says that in 2022, approximately $130 billion of USDC flowed into Asia, with Asia-Pacific accounting for 29% of the global digital currency value. The amount compares to 22% for Western Europe and 19% for North America.<\/p>\n\n\n\n
        Apart from Asia, Circle says about 33% of Latin American consumers have paid using a stablecoin. Consequently, the region has received $562 billion in digital currency between 2021 and mid-2022.<\/p>\n\n\n\n
        Overall, Circle says blockchain transactions relying on its stablecoin have crossed $12 trillion since its introduction in 2018. That has also coincided with a 90% decline in stablecoins\u2019 use in speculative trading in the last five years.<\/p>\n\n\n\n
        See Related:<\/em><\/strong> Binance, Coinbase Suspend USDC Conversions After Circle Disclosed Exposure To Failed Silicon Valley Bank<\/a><\/p>\n\n\n\n
        USDC Narrows Financial Gap In Emerging Economies<\/h2>\n\n\n\n
        The growing adoption of USDC in emerging economies comes amid the need to narrow the financing gap and facilitate remittances. The circle report shows that the most significant volume of USDC flows into Asia comprises remittance transfers. The issuer also asserts that the stablecoin is helping Asia narrow its $510 billion trade finance gap, relating to a lack of liquidity in cross-border remittances and credit.<\/p>\n\n\n\n
        The flows into emerging economies are positive due to existing capital financing restrictions, which have hampered business financing. The economies are also remittance-dependent, prompting alternatives that have created a demand for stablecoins. <\/p>\n\n\n\n
        Conversely, Circle CEO Jeremy Allaire was quoted<\/a> last year intimating a solid demand for USDC in non-US markets across Asia, LATAM, and Africa. Last week, Coinbase partnered<\/a> with Yellow Card to enable USDC transactions across 20 major African economies. The move is expected to cement USDC\u2019s uptake in emerging markets, focusing on tapping the remittances market and increasing economic freedoms.<\/p>\n","post_title":"USDC Popular As Remittances\u2019 Digital Currency In Asia - Circle Report","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"usdc-popular-as-remittances-digital-currency-in-asia-circle-report","to_ping":"","pinged":"","post_modified":"2024-01-19 08:10:51","post_modified_gmt":"2024-01-18 21:10:51","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=15026","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14760,"post_author":"1","post_date":"2023-12-24 22:54:07","post_date_gmt":"2023-12-24 11:54:07","post_content":"\n
        \n
        The step allows the crypto exchange to introduce diverse crypto services in the country.<\/li>\n\n\n\n
        Coinbase will target the French retail and institutional crypto market.<\/li>\n<\/ul>\n\n\n\n
        Coinbase has obtained registration as a Virtual Asset Services Provider in France. This step enables the company to introduce retail, institutional, and ecosystem-oriented products and services within the French market.<\/p>\n\n\n\n
        This approval, granted by the Financial Markets Authority (AMF), mirrors the country's proactive approach to attracting and fostering a conducive environment for crypto-centric businesses. It coincides with stablecoin issuer Circle<\/a> also securing conditional registration, Coindesk<\/em> reported.<\/p>\n\n\n\n
        Coinbase And French Crypto Market<\/h2>\n\n\n\n
        The latest registration positions Coinbase to extend various services, including custody of digital assets. The crypto exchange will facilitate digital asset transactions with fiat currency and enable digital asset trading.<\/p>\n\n\n\n
        Last year, Crypto.Com and Coinbase achieved a pivotal milestone in their quest for global expansion, the Distributed<\/em> reported. The regulatory agency in Italy, Organismo Agenti e Mediatori (OAM), approved both companies<\/a>. This authorization enables them to extend their suite of services and products within the Italian market while adhering to local regulations.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>Binance Italy's Registration Has Been Approved(Opens in a new browser tab)<\/a><\/p>\n\n\n\n
        Strategic Milestone in Global Expansion<\/h2>\n\n\n\n
        The approval extended to CryptoCom and Coinbase signaled a significant leap forward in Coinbase's strategic growth plans. Kris Marszalek, the CEO, and Co-Founder of Crypto.Com, expressed enthusiasm about this initiative, highlighting the importance of Italian registration as a crucial advancement for CryptoCom.<\/p>\n\n\n\n
        This regulatory green light allowed for the distribution of compliant products and services by the companies in Italy, aligning with local regulatory requirements.<\/p>\n\n\n\n
        The country's regulatory environment has attracted significant interest, evidenced by earlier approvals granted to industry giants like Binance. This nod to CryptoCom and Coinbase underscored Italy's growing significance in the global crypto landscape.<\/p>\n","post_title":"Coinbase Approved As Virtual Asset Provider in France","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"coinbase-approved-as-virtual-asset-provider-in-france","to_ping":"","pinged":"","post_modified":"2023-12-24 22:54:19","post_modified_gmt":"2023-12-24 11:54:19","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14760","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":14355,"post_author":"15","post_date":"2023-11-18 05:36:19","post_date_gmt":"2023-11-17 18:36:19","post_content":"\n
        During the third quarter, South Korea's National Pension Service made a significant move into the digital asset space. The service acquired approximately $20 million worth of Coinbase (COIN) shares, as reported in a recent filing<\/a> with the U.S. Securities and Exchange Commission (SEC). This strategic investment underscores South Korea's growing interest in cryptocurrencies.<\/p>\n\n\n\n
        The pension fund secured a total of 282,673 shares of Coinbase at an initial value of $19,934,100, equivalent to around $70.52 per share. Notably, during the same quarter, Coinbase's shares experienced a 4% increase. As of Wednesday's trading close, these shares are now valued at approximately $27.7 million, reflecting an impressive 40% gain.<\/p>\n\n\n\n
        This move is particularly noteworthy because pension funds worldwide have traditionally been cautious about or legally restricted from delving into digital assets due to their perceived higher risk. While the adoption of cryptocurrencies by institutional investors has been gradual, it marks a significant shift in the global financial landscape.<\/p>\n\n\n\n
        See Related: <\/em><\/strong>South Korean Government To Invest $187M Into The Metaverse<\/a><\/p>\n\n\n\n
        South Korea Is Not The First<\/h2>\n\n\n\n
        In 2019, two funds in Fairfax County, Virginia, ventured into the cryptocurrency investment arena. Their investments included a substantial $35 million allocation to VanEck's New Finance Income Fund. Notably, VanEck was one of the creditors involved when crypto lender Genesis faced bankruptcy earlier this year.<\/p>\n\n\n\n
        South Korea's forward-thinking approach, including the passing of the Virtual Asset User Protection Act, signals the country's commitment to establishing a regulatory framework for digital assets. As cryptocurrencies continue to gain traction globally, institutional investors like pension funds are increasingly exploring opportunities in this evolving market.<\/p>\n","post_title":"South Korean Pension Fund Dives Into Digital Assets With $20 Million Coinbase Investment","post_excerpt":"","post_status":"publish","comment_status":"closed","ping_status":"closed","post_password":"","post_name":"south-korean-pension-fund-dives-into-digital-assets-with-20-million-coinbase-investment","to_ping":"","pinged":"","post_modified":"2023-11-20 15:58:43","post_modified_gmt":"2023-11-20 04:58:43","post_content_filtered":"","post_parent":0,"guid":"https:\/\/www.thedistributed.co\/?p=14355","menu_order":0,"post_type":"post","post_mime_type":"","comment_count":"0","filter":"raw"},{"ID":7009,"post_author":"6","post_date":"2022-09-09 10:46:50","post_date_gmt":"2022-09-09 00:46:50","post_content":"\n
        Coinbase, a popular American crypto exchange, announced this Thursday that it's funding a lawsuit against the Treasury Department regarding some frozen funds of law-abiding U.S. citizens, for using the privacy protection crypto service, Tornado Cash<\/a>.<\/p>\n\n\n\n
        Two Coinbase employees and 4 others blacklisted by the US Treasury for using Tornado Cash, filed a lawsuit against the US Treasury Department this Thursday.<\/li><\/ul>\n\n\n\n
        Tornado Cash is an open-source crypto mixer<\/a> designed to provide privacy protection for Ethereum's users and even though, the transactions are completely anonymous, they're still trackable - although harder to track.<\/li><\/ul>\n\n\n\n
        The Treasury Department stated<\/a> that this cryptocurrency tool has opened the door to a North Korean-backed hacking group to laundry more than 455 million. Moreover, The US Treasury alleged that cybercriminals have laundered more than 7 billion dollars in total.<\/li><\/ul>\n\n\n\n
        $\"Elliptic\u2019s$
        Elliptic\u2019s analysis shows laundered money through Tornado Cash<\/figcaption><\/figure>\n\n\n\n
        Not every Tornado Cash user has unlawful intentions. One plaintiff argued that he used the service to anonymize donations to Ukraine fearing that Russian hackers would fight back. Vitalik Buterin has also claimed<\/a> to use Tornado Cash for the same purpose.<\/li><\/ul>\n\n\n\n
        Although Coinbase is currently funding a lawsuit against the government department to support Tornado Cash users, Brian Armstrong, the exchange's CEO is optimistic.<\/li><\/ul>\n\n\n\n
        Coinbase CEO, Brian Armstrong, announced his support for the lawsuit in a tweet<\/a>, also sharing his optimistic views on this matter. The American entrepreneur has acknowledged the good work that the government has been doing in the past and he's open to implementing any new solution.<\/li><\/ul>\n\n\n\n
        \"Hopefully, reason and justice will prevail, and we will find workable solutions to bring bad actors to justice together without broad overreach\". -Brian Armstrong stated.<\/li><\/ul>\n\n\n\n
        See Related:<\/em><\/strong> #FreeAlex Rally In Amsterdam Over Arrested Tornado Cash Developer<\/a><\/p>\n\n\n\n
        1\/ Coinbase is funding a lawsuit brought by six individuals challenging the Treasury's sanction of the Tornado Cash smart contracts. https:\/\/t.co\/DkMHtyt0zR<\/a><\/p>\u2014 Brian Armstrong - barmstrong.eth (@brian_armstrong) September 8, 2022<\/a><\/blockquote>
        
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