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Clearing Agency

All articles tagged with #clearing agency

finance2 years ago•3 min saved

SEC Charges Binance and Coinbase, Scaramucci Weighs in on Future of Digital Assets, and Polygon (MATIC) Sees Movement.

The Securities and Exchange Commission (SEC) has charged Coinbase for operating as an unregistered national securities exchange, broker, and clearing agency, as well as for failing to register the offer and sale of its crypto asset staking-as-a-service program. The SEC alleges that Coinbase has made billions of dollars unlawfully facilitating the buying and selling of crypto asset securities since at least 2019. Coinbase's failure to register has deprived investors of significant protections, including inspection by the SEC, recordkeeping requirements, and safeguards against conflicts of interest, among others.

via SEC.gov|

#broker #clearing-agency #coinbase

cryptocurrency2 years ago•4 min saved

Beaxy Crypto Exchange and Executives Face SEC Charges and Shutdown

The SEC has charged Beaxy.com and its executives for operating an unregistered exchange, broker, and clearing agency. The founder of the platform, Artak Hamazaspyan, and a company he controlled, Beaxy Digital, Ltd., were also charged with raising $8 million in an unregistered offering of the Beaxy token (BXY) and alleged misappropriation of at least $900,000 for personal use. Market makers operating on the Beaxy Platform were also charged as unregistered dealers. The SEC has ordered the defendants to cease all activities as an unregistered exchange, clearing agency, broker, and dealer, shut down the Beaxy Platform, and pay civil penalties.

via SEC.gov|

#beaxy #broker #clearing-agency