Topics

Posted 9/25/2023, 6:25:20 PM

SEC Objects to Celsius Bankruptcy Plan Over Coinbase Deal Concerns

SEC filed objection to Celsius restructuring plan citing issues with Coinbase agreement
Objection based on ongoing lawsuit between SEC and Coinbase
Coinbase CEO and lawyer questioned SEC reasoning in statement
Celsius bankruptcy plan revisions ongoing since March
Next hearing in Celsius bankruptcy case scheduled for October 5

cointelegraph.com

Relevant topic timeline:

8/25/2023

The Aftermath: Fate of Cryptos Deemed Securities by the SEC

The US SEC has filed lawsuits against Binance and Coinbase, accusing them of various regulatory violations, leading to intense discussions about cryptocurrency classification as securities and causing a negative impact on the prices of many altcoins mentioned in the lawsuits.

9/6/2023

Celsius Network Files 'Adversary Complaint' Against EquitiesFirst to Recover Assets

Crypto lender Celsius Network has filed a complaint against EquitiesFirst Holdings in an attempt to recover $439 million in cash and bitcoin owed to them, after failing to return collateral in 2021.

9/8/2023

Coinbase CEO Armstrong Previews Web3 Priorities Ahead of 2024 Election

Coinbase CEO Brian Armstrong discusses the company's base layer 2 blockchain network, interest in flatcoin, and the need for regulatory clarity in the crypto industry, suggesting that the courts, congress, and the CFTC could provide clarity and that there could be a new SEC chair in 2024.

9/25/2023

SEC Objects to Coinbase's Role in Celsius Bankruptcy Plan Over Broker Concerns

The U.S. SEC and Coinbase are in conflict over Celsius' request to use Coinbase as a distribution agent, with the SEC arguing that this would go beyond the scope of a distribution agent and involve brokerage and trading services; Coinbase's Chief Legal Officer questions why the SEC would object to a trusted US company taking on this role.

9/26/2023

Celsius Creditors Overwhelmingly Approve Reorg Plan to Return $2B in Crypto Assets

Creditors of Celsius Network have voted in favor of a plan that will return $2 billion worth of Bitcoin and Ethereum to them, along with distributing equity through a new company.

10/3/2023

SEC Pushes Back Against Coinbase's Motion to Dismiss Lawsuit, Citing Recent Ruling Against Terraform Labs

The U.S. Securities and Exchange Commission (SEC) has asked a judge to reject Coinbase Global's request to dismiss the regulator's lawsuit against the cryptocurrency exchange, arguing that a recent court ruling used by Coinbase in its defense does not apply in this case.

10/11/2023

SEC Fight Continues as Coinbase Battles Claims of Illegal Crypto Exchange

Coinbase is facing a legal battle with federal regulators over its operation as an unregistered securities exchange, with three new legal filings supporting the SEC's argument that it has the authority to regulate cryptocurrency under existing laws.

10/14/2023

Coinbase Demands Clarity from SEC on Crypto Regulations After Months of Delays

Coinbase is urging the SEC to issue a court order, called a mandamus, to force the agency to respond to the firm's crypto rulemaking petition after the SEC provided an uninformative update; Coinbase's response accuses the SEC of stalling and avoiding accountability.

10/15/2023

Coinbase Petitions SEC for Crypto Rules After Lawsuit Over Lack of Regulatory Clarity

Coinbase is pressing the U.S. Securities and Exchange Commission (SEC) to respond to its rulemaking petition on clarifying the application of securities laws to digital assets within 30 days.

10/15/2023

Coinbase Accuses SEC of 'Intransigence' for Not Clarifying Crypto Securities Rules

Coinbase is demanding immediate action from the Securities and Exchange Commission (SEC) or for the courts to intervene on its request for formal rules on digital assets as securities. Despite a previous delay, Coinbase accuses the SEC of refusing to act on its petition, leaving digital assets in a difficult situation with no clear guidelines.

Topics

Posted 9/25/2023, 6:25:20 PM

SEC Objects to Celsius Bankruptcy Plan Over Coinbase Deal Concerns

SEC filed objection to Celsius restructuring plan citing issues with Coinbase agreement
Objection based on ongoing lawsuit between SEC and Coinbase
Coinbase CEO and lawyer questioned SEC reasoning in statement
Celsius bankruptcy plan revisions ongoing since March
Next hearing in Celsius bankruptcy case scheduled for October 5

cointelegraph.com

Relevant topic timeline:

8/25/2023

The Aftermath: Fate of Cryptos Deemed Securities by the SEC

9/6/2023

Celsius Network Files 'Adversary Complaint' Against EquitiesFirst to Recover Assets

Crypto lender Celsius Network has filed a complaint against EquitiesFirst Holdings in an attempt to recover $439 million in cash and bitcoin owed to them, after failing to return collateral in 2021.

9/8/2023

Coinbase CEO Armstrong Previews Web3 Priorities Ahead of 2024 Election

9/25/2023

SEC Objects to Coinbase's Role in Celsius Bankruptcy Plan Over Broker Concerns

9/26/2023

Celsius Creditors Overwhelmingly Approve Reorg Plan to Return $2B in Crypto Assets

Creditors of Celsius Network have voted in favor of a plan that will return $2 billion worth of Bitcoin and Ethereum to them, along with distributing equity through a new company.

10/3/2023

SEC Pushes Back Against Coinbase's Motion to Dismiss Lawsuit, Citing Recent Ruling Against Terraform Labs

10/11/2023

SEC Fight Continues as Coinbase Battles Claims of Illegal Crypto Exchange

10/14/2023

Coinbase Demands Clarity from SEC on Crypto Regulations After Months of Delays

10/15/2023

Coinbase Petitions SEC for Crypto Rules After Lawsuit Over Lack of Regulatory Clarity

Coinbase is pressing the U.S. Securities and Exchange Commission (SEC) to respond to its rulemaking petition on clarifying the application of securities laws to digital assets within 30 days.

10/15/2023

Coinbase Accuses SEC of 'Intransigence' for Not Clarifying Crypto Securities Rules