SEC Accuses Ceffu of Binance Ties, Warren's Crypto Bill Gains Support, JPEX Blames Institutions for Liquidity Issues
Summary:
The SEC accuses Ceffu of having ties to Binance in a filing against Binance.US. Senator Elizabeth Warren's Digital Asset Anti-Money Laundering Act gains support from nine more senators. JPEX blames institutions and market makers for its liquidity issues.
The United States Securities and Exchange Commission (SEC) has accused the wallet provider Ceffu of being "Binance-related" in its recent filing against BAM, the holding company for Binance.US. The SEC argues that Binance's request for a protective order against the SEC's investigation is without merit and urges the court to deny the request. The filing also raises concerns about Ceffu, which the SEC claims has control over customer assets and allegedly has ties to the Binance exchange.
Representatives from Binance and the SEC were present at a hearing in Washington, D.C., on September 18 to discuss the regulator's motion to compel against BAM.
Senator Elizabeth Warren's Digital Asset Anti-Money Laundering Act has gained the support of nine additional senators. The announcement was made in a statement from Senator Warren's office. The senators who have joined the bipartisan coalition backing the bill are Gary Peters, Dick Durbin, Tina Smith, Jeanne Shaheen, Bob Casey, Richard Blumenthal, Michael Bennet, Catherine Cortez Masto, and Angus King.
Transparency International U.S., Global Financial Integrity, the National District Attorneys Association, the Major County Sheriffs of America, the National Consumer Law Center, and the National Consumers League have all endorsed the bill as well. Senator Warren sees the growing support for the bill as a sign that Congress is ready to take action against the illicit use of cryptocurrencies.
Dubai-based cryptocurrency exchange JPEX has attributed its liquidity issues and operational difficulties to "certain institutions" and "third-party market makers." The exchange claims that these entities, along with negative news, have caused its third-party market makers to freeze funds. JPEX has also faced scrutiny from the Hong Kong Securities and Futures Commission (FSC) for allegedly promoting its services to residents without a license.
As a result of these challenges, JPEX has increased withdrawal fees and suspended certain operations. The exchange has announced a pause on Earn transactions starting from September 18.
Please note that this article does not provide investment advice or recommendations. Readers are advised to conduct their own research before making any investment decisions.
Published At
9/18/2023 7:16:28 PM
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