Cryptocurrency

Impact

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/sec-issues-wells-notice-to-cryptocom-exchange-before-upcoming-elections/" data-wpel-link="internal">SEC Issues Wells Notice to Cryptocom Exchange Before Upcoming Elections</a><br></p>
<p style="text-align: justify">As the November elections approach, <a href="https://en.coin-turk.com/bitcoin-price-stays-around-65700-as-fed-leaves-rates-unchanged/" data-wpel-link="internal">cryptocurrency</a> enthusiasts eagerly anticipate the events ahead. However, the SEC is taking action, recently sending a Wells Notice to the Cryptocom exchange. This move mirrors similar actions against <a href="https://en.coin-turk.com/binance-removes-specific-trading-pairs-to-maintain-quality/" data-wpel-link="internal">Binance</a> and <a href="https://en.coin-turk.com/sec-files-complaint-against-abra-for-unregistered-securities-sales/" data-wpel-link="internal">Coinbase</a> in June of last year.</p> 
<h2 style="text-align: justify" id="lawsuit-against-cryptocurrency-exchange">Lawsuit Against Cryptocurrency Exchange</h2> 
<p style="text-align: justify">A few years ago, receiving a Wells Notice would have caused significant panic in the cryptocurrency sector. Yet, with the SEC initiating over 100 cryptocurrency-related lawsuits in a short time, such notifications have become commonplace. This notice indicates the SEC’s intent to file a lawsuit against the respective exchange, with an official complaint expected soon.</p> 
<h2 style="text-align: justify" id="impact-on-the-cryptocurrency-market">Impact on the Cryptocurrency Market</h2> 
<p style="text-align: justify">The lawsuit illustrates the SEC’s unilateral expansion of jurisdiction beyond legal boundaries. It also reinforces the view that nearly all cryptocurrencies, except for BTC and ETH, are considered securities, increasing legal pressure on altcoins.</p> 
<p style="text-align: justify"><img loading="lazy" loading="lazy" decoding="async" class="alignnone size-full wp-image-395398" src="https://coin-turk.com/wp-content/uploads/2024/10/CROUSDT_2024-10-08_16-30-27.png" alt="" width="1814" height="836"></p> 
<p style="text-align: justify">Following the announcement, the exchange’s token, CRO Coin, experienced a decline of over 5%.</p> 
<p>The post <a href="https://en.coin-turk.com/sec-issues-wells-notice-to-cryptocom-exchange-before-upcoming-elections/" data-wpel-link="internal">SEC Issues Wells Notice to Cryptocom Exchange Before Upcoming Elections</a> appeared first on <a href="https://en.coin-turk.com" data-wpel-link="internal">COINTURK NEWS</a>.</p>

SEC Issues Wells Notice to Cryptocom Exchange Before Upcoming Elections

Table of Contents

COINTURK NEWS

Other articles published on Oct 8, 2024

Marathon Digital Faces Lawsuit From Texas Town Over Mining Noise

Lamborghini to Unveil Web3 Platform "Fast ForWorld" With Animoca Brands

io.net (IO) on Solana: Coinbase’s Newest SPL Token Listing Unveiled

How Onchain Consumer Apps are Disrupting Web2: A Deep Dive into Meme Culture and the Future of Us...

Japan’s Metaplanet Expands Bitcoin Holdings to $40.5M With Another 108 $BTC Purchase

Justin Sun saves the day after Ty Dolla $ign accidentally burns $500k worth of SUNDOG

Join our free newsletter for daily crypto updates!