Coinbase news Financial News

The Securities and Exchange Commission (SEC) rejected a petition by cryptocurrency exchange Coinbase on Friday requesting the creation of tailored regulations for digital assets.

On September 5 Coinbase revealed that it would expand its bond buyback program from $150 million to $180 million. This adjustment comes as the company strives to repurchase more of its 3.625% senior notes due in 2031. 

Securities and Exchange Commission (SEC) is charging Coinbase with operating its crypto asset trading platform as an unregistered national securities exchange, broker, and clearing agency. Coinbase was also charged for failing to register the offer and sale of its crypto asset staking-as-a-service program. Users of trading platforms can stake their cryptocurrency, essentially locking up some of their assets, in exchange for payment later, much like earning interest rates in a savings account. Those assets are used by platforms like Coinbase Global to guarantee other transactions taking place on the blockchain. Coinbase has been critical of regulations related to staking, calling them vague. The SEC complaint also alleges that Coinbase's holding company, Coinbase Global Inc., is a control person of Coinbase and therefore is also liable for some of Coinbase's violations.

Mumbai | Bengaluru: US-based crypto trading firm Coinbase has temporarily disabled the option to buy cryptocurrencies using the Unified Payments Interface (UPI) in India. «Purchases with this payment method are temporarily unavailable,» Coinbase's mobile application said on Sunday.

Coinbase Global Inc on Tuesday reported a nearly 30% fall in third-quarter trading volumes on a sequential basis, hit by lower volatility and declining prices for bitcoin and other cryptocurrencies. Trading volumes fell to $327 billion in the quarter from $462 billion in the second. Of this, bitcoin comprised 19%, down from 24% last quarter. The company's shares tumbled 13% in trading after the bell.