circle coinbase Archives - Coin Engineer https://coinengineer.net/blog/tag/circle-coinbase/ Btc, Coins, Pre-Sale, DeFi, NFT Wed, 27 Sep 2023 09:46:06 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.4 https://coinengineer.net/blog/wp-content/uploads/2024/04/cropped-Coin-Engineer-Logo-Favicon-2-32x32.png circle coinbase Archives - Coin Engineer https://coinengineer.net/blog/tag/circle-coinbase/ 32 32 Increasing Tension between SEC and Coinbase over Celsius https://coinengineer.net/blog/increasing-tension-between-sec-and-coinbase-over-celsius/ https://coinengineer.net/blog/increasing-tension-between-sec-and-coinbase-over-celsius/#respond Wed, 27 Sep 2023 10:00:48 +0000 https://coinengineer.io/blog/?p=4157 Increasing tension between SEC and Coinbase over Celsius! The SEC opposed Celsius Network’s proposal to distribute digital assets to its customers via Coinbase as part of its restructuring plan and submitted its objection petition to the court, highlighting the tension between SEC and Coinbase. On September 22, the SEC objected to the Celsius Network’s restructuring

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]]> Increasing tension between SEC and Coinbase over Celsius! The SEC opposed Celsius Network’s proposal to distribute digital assets to its customers via Coinbase as part of its restructuring plan and submitted its objection petition to the court, highlighting the tension between SEC and Coinbase.

On September 22, the SEC objected to the Celsius Network’s restructuring plan, citing an ongoing legal dispute with crypto exchange Coinbase. In March, they initially submitted the restructuring plan for Celsius Network to the court, but the court did not accept it. They last revised the restructuring plan in August for the fourth time, and the court has yet to approve it.

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In March, Coinbase Exchange announced that they had received a Wells notice from the SEC. The SEC sends a Wells notice to individuals or companies as a result of an investigation, issuing a warning that indicates the Commission’s intention to file an enforcement case against them.

 

Tension between SEC and Coinbase over Celsius

“The SEC stated, “Coinbase Agreements go far beyond the services of a distribution agent; they involve brokerage services and principal transaction services, encompassing many concerns put forth in the SEC’s District Court Case against Coinbase.”

Coinbase Chief Legal Officer Paul Grewal said, “Coinbase is proud to collaborate with Celsius Network and I wonder why the SEC objects to distributing cryptocurrency to its customers. So why would they object to this trusted US public company taking on this role?”

The SEC’s latest objection application has not yet been accepted by the US District Court.

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]]> https://coinengineer.net/blog/increasing-tension-between-sec-and-coinbase-over-celsius/feed/ 0 Circle Launches USDC on Mercado Pago in Chile https://coinengineer.net/blog/circle-launches-usdc-on-mercado-pago-in-chile/ https://coinengineer.net/blog/circle-launches-usdc-on-mercado-pago-in-chile/#respond Sat, 02 Sep 2023 13:30:02 +0000 https://coinengineer.io/blog/?p=3472 Circle joins forces with LATAM fintech powerhouse Mercado Pago to introduce USDC to Chilean consumers. Circle, the issuer of USDC, is teaming up with Mercado Libre, often referred to as “LATAM’s Amazon” due to its vast user base of 200 million. Users of Mercado Libre’s fintech service, Mercado Pago, are on the verge of gaining

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]]> Circle joins forces with LATAM fintech powerhouse Mercado Pago to introduce USDC to Chilean consumers.

Circle, the issuer of USDC, is teaming up with Mercado Libre, often referred to as “LATAM’s Amazon” due to its vast user base of 200 million. Users of Mercado Libre’s fintech service, Mercado Pago, are on the verge of gaining access to USDC for transactions, beginning with the Chilean market. Circle enables Mercado Libre’s Mercado Pago users to access USDC for Chilean transactions.

Chile already boasts over two million Mercado Pago users, as highlighted by Matías Spagui, Director of Mercado Pago. This partnership is designed to grant Chileans access to the advantages of a digital dollar, ensuring secure, transparent, and speedy financial dealings.

Visa made headlines earlier this year by becoming the first payment network to settle USDC transactions on the Ethereum blockchain. Data from Defillama indicates that Ethereum secures approximately 84% of the total USDC in circulation. Ethereum securely holds a substantial $21.3 billion worth of USDC, with Arbitrum closely trailing behind, holding over $700 million, constituting 2.81% of the total USDC supply. Solana captures a 2.5% share, while Polygon and Avalanche each hold 2.4%.

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Matías Spagui, Senior Director of Mercado Pago, remarked, “With the introduction of this stablecoin, our goal is to diversify access to cryptocurrencies and provide more than two million Mercado Pago users with an alternative that mirrors the value of the US dollar.”

Rachel Mayer, VP of Product at Circle, also expressed, “Latin America is emerging as a hub for the digital economy, with a thriving spirit of innovation and growing interest in digital currencies.”

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