Recent cryptocurrency news: US market regulator claims that Coinbase was aware of violations before to the SEC law suit

In response to Coinbase’s claim that the SEC has the authority to sue the firm, the SEC replied that Coinbase was aware of breaking federal securities laws years ago.

According to CoinDesk, on July 7, 2023, the SEC said that it will oppose any request for review that Coinbase would submit and sought a judge to dismiss Coinbase’s claims that the lawsuit breached the significant questions doctrine and other issues.

A month ago, the SEC filed a lawsuit against Coinbase, arguing that company was simultaneously acting as an unlicensed broker, clearinghouse, and exchange.

The SEC stated in its filing that “Coinbase, a multi-billion dollar entity advised by sophisticated legal counsel, contends that it was not aware that its conduct might have violated federal securities laws and suggests that by approving Coinbase’s registration statement in 2021, the SEC confirmed the legality of Coinbase’s underlying business activities – at that time and for all future times.

Solana Labs Creates AI Instruments to Help NFT Buyers

To help potential NFT purchasers choose collections based on their unique requirements, Solana Labs is developing AI tools.

According to Tal Tchwella, head of product at Solana Labs, “one of the challenges right now for buyers is that they need to figure out a lot of different data points.”

Solana Labs is developing an AI tool to assist users in finding and purchasing the non-fungible tokens most suitable to their requirements and goals as part of its attempts to simplify the process of choosing the ideal first collection simpler. According to Tchwella, “Some of it is a lot of hype, as we’ve seen with certain NFT collections.” Tchwella said, “But part of it is about the real relationships that people are making via this. This is where AI can step in and make that data available for a normie, for someone new coming into web3, to understand what are the things that they care about.

According to Tchwella, Solana may soon be able to provide AI-powered tools that may help first-time NFT purchasers identify “trending” collections and choose communities that fit their preferences.

Australian officials look into Binance and ask for internal information

Australian regulators have opened an investigation into the cryptocurrency exchange Binance and have asked current and former workers for internal conversations and data.

The Australian Securities and Investments Commission (ASIC) made individual contact with Binance personnel this week outside the company’s headquarters in a coordinated effort, according to CoinDesk.

Due to serious claims from US authorities, a French raid, and a refusal of license by the Dutch government, Binance is facing legal difficulties throughout the globe.