If the two sides can agree on limits, Judge Amy Berman Jackson, of the D.C. District Court, said “there’s absolutely no need” for a restraining order. In the meantime, the judge ordered Binance.US to provide a list of its business expenses to the court, and ordered the parties to continue negotiating. A status update is due by close of business Thursday.
House Democrats on the Financial Services Committee are considering a new version of proposed stablecoin bill weeks after Republicans on the committee introduced their own discussion draft.
The U.S. Treasury Department’s sanctions watchdog banned three North Korean individuals for supporting the Lazarus Group, a North Korean hacking team known for crypto thefts.
Despite Republican House committee leaders publishing a draft bill and talking about progress, it hasn’t been on the bipartisan level required for an eventual law, lawmakers said in a hearing Wednesday.
“The cryptocurrency industry is rapidly expanding with some industry lobbyists insisting that their offerings and platforms fall outside the securities laws and regulations,” Better Markets, a Washington-based group advocating for tougher protections in the financial system, wrote in a comment letter last year. “But clearly, the commission must apply securities regulation equally to all securities regardless of how novel, ‘innovative,’ popular, or profitable such offerings may be.”
“If needed, we welcome a legal process to provide the clarity we have been advocating for and to demonstrate that the SEC simply has not been fair or reasonable when it comes to its engagement on digital assets,” said Paul Grewal, Coinbase’s chief legal officer, in a statement. “Until then, it’s business as usual.”