Two more lawsuits for Coinbase: Law decoded, Aug. 1–8
Both plaintiffs claim that Coinbase made fraudulent and deceptive representations regarding the company’s business. The Coinbase drama, which started at the end of July, continues with new developments. Last week, former Coinbase Global product manager Ishan Wahi pleaded not guilty to two counts of wire fraud conspiracy and two counts of wire fraud in a Manhattan federal court. Wahi was arrested during his attempt to board a flight from the United States to India in May and accused of insider trading. While the Wahis are central to two separate court cases, another two lawsuits appeared....
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The crypto industry is ending 2020 on a high note, while major social media platforms face a phalanx of lawmakers and lawsuits. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Law Decoded will be going on a break next week for the holidays but will return in the new year. Editor’s noteAs the holidays loom, Bitcoin has been shattering all-time highs. For reasons why, consult Cointelegraph’s markets coverage. I honestly never know. Maybe with the act of Christmas shopping taking place behind the computer, people have....
In both cases, plaintiffs allege Coinbase made fraudulent and misleading statements about the company's business, operations and compliance efforts throughout the class period. Coinbase is now facing increased scrutiny from regulators, with the company now becoming the target of multiple lawsuits. The San Francisco-based cryptocurrency exchange, which is presently being investigated by the United States Securities and Exchanges Commission (SEC), now faces two additional legal claims from two law firms.On Thursday, New York-based legal firm Bragar Eagel & Squire revealed that it would be....
In a recent development, Coinbase, the largest cryptocurrency exchange in the United States, has initiated a legal offensive against the Securities and Exchange Commission (SEC) and the Federal Deposit Insurance Corporation (FDIC). The lawsuits, filed in a Washington, D.C., district court, aim to secure access to internal records that would shed light on what Coinbase […]
The final Law Decoded moves away from specific news to reflect on the biggest legal issues facing crypto. Editor’s noteLadies and gentlemen, it is bittersweet to welcome you to the final installment of Law Decoded, at least with yours truly at the helm. Though someone may pick this newsletter back up at some point, there are no plans to do so now.Taking advantage of the rose-tinted glasses or maybe the graduation goggles that are in effect for this final newsletter, I will be shaking up the format. As last week’s Law Decoded focused on a few long-standing stories in crypto, this week, I....
Tentative clampdowns coming from both the Treasury and the House in the United States lead this week's Law Decoded. Every Friday, Law Decoded delivers analysis on the week’s critical stories in the realms of policy, regulation and law. Editor's noteFor several weeks, rumors have circulated in the United States that the Treasury Department under Steven Mnuchin is planning some sort of rulemaking to ban or severely restrict self-hosted cryptocurrency wallets.The Treasury hasn’t made any public statements to support these rumors, but they are persistent and pervasive enough to be worth paying....