<p style="text-align: justify">Two major cryptocurrency exchanges faced lawsuits in 2023, targeted by both the SEC and CFTC. We have now seen the <a href="https://en.coin-turk.com/us-department-of-justice-accuses-binance-of-violating-us-laws-and-prioritizing-profit-over-compliance/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Binance</a> exchange make a multi-billion-dollar deal to get out of other lawsuits, excluding those from the SEC. Coinbase CEO Brian addressed the current situation and made some comments about the future.</p>
<h2 id="coinbase-ceo-s-statement">Coinbase CEO’s Statement</h2>
<p style="text-align: justify">Coinbase CEO Brian Armstrong, in a statement on Monday, mentioned the settlement by the Binance exchange. Following this event, the era of scandals and problems may have finally come to an end. Armstrong said:</p>
<blockquote>
 <p style="text-align: justify">“The sanction decision against the Binance exchange allows us to turn a new page and close this chapter of history. There are many crypto companies that help build the crypto economy and change our <a href="https://newslinker.co/category/finance/" data-wpel-link="exclude" rel="noopener noreferrer nofollow">financial</a> system globally, and most of them are still small ventures. I believe regulatory clarity will help attract more investment, especially from institutions.”</p>
</blockquote>
<p style="text-align: justify"><img decoding="async" class="wp-image-281520 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/11/Coinbase-CEO.png" alt="" width="739" height="500"></p>
<h2 id="a-new-chapter-for-cryptocurrencies">A New Chapter for Cryptocurrencies</h2>
<p style="text-align: justify">The crypto industry has been heavily accused of serving evil purposes like money laundering, financing terrorism, and fraud. Criticisms about compliance were not entirely unfounded because the laws were not clear, and crypto companies thought it was better to stay in the grey area to grow.</p>
<p style="text-align: justify">However, the created perception of “bad crypto” is exaggerated, similar to the WSJ-HAMAS <a href="https://en.coin-turk.com/bitcoin-btc-falls-below-30000-cryptocurrency-market-in-decline/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto</a> report that lacks any data. Mainstream media tarnishes the entire industry, then politicians bring these issues to parliaments without having evidence to talk about figures and facts. Brian said:</p>
<blockquote>
 <p style="text-align: justify">“It’s true there is a small amount of illegal activity in crypto, but as far as we can see, it’s less than 1%. If you look at the illegal use of cash, it is often more than that.”</p>
</blockquote>
<p style="text-align: justify">The Coinbase CEO, who went to the UK for the Global Investment Summit, described his company as the only crypto brand to receive an invite, confirming this as a positive sign. The message he wanted to convey (combined with previous statements) was that crypto companies complying with the law can grow slowly but steadily.</p>
<p style="text-align: justify">Nevertheless, Coinbase, which is highly attentive to compliance and traded on the stock exchange, is currently in legal trouble with the SEC over unauthorized securities sales.</p>
<ul class="summary">
 <li>Major exchanges grapple with legal challenges.</li>
 <li>Settlements suggest a move towards resolution.</li>
 <li>Compliance is key for industry growth.</li>
</ul> Continue Reading: <a href="https://en.coin-turk.com/navigating-legal-waters-major-crypto-exchanges-deal-with-regulatory-scrutiny/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/navigating-legal-waters-major-crypto-exchanges-deal-with-regulatory-scrutiny/</a>

Navigating Legal Waters: Major Crypto Exchanges Deal with Regulatory Scrutiny

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