BitMEX is seeking to sell, US SEC: memes are not securities

This article is machine translated
Show original
Here is the English translation of the text, with the content inside <> retained and not translated:

Headlines

BitMEX Seeks Sale, Hires Broadhaven Capital to Assist in Transaction

Cryptocurrency exchange platform BitMEX is seeking a sale and has hired investment bank Broadhaven Capital Partners to assist in the transaction. BitMEX, founded by Arthur Hayes and others in 2014, has been accused of failing to implement effective anti-money laundering measures. Hayes resigned as CEO after facing criminal charges in the US.

SEC Classifies: Memecoins are Not Securities, Investors Bear Risks

The US Securities and Exchange Commission (SEC) Division of Corporation Finance has issued guidance on memecoins, stating that they are not securities but rather similar to collectibles. The division believes that the transactions described in the guidance involving memecoins do not involve the issuance and sale of securities as defined under the federal securities laws. Therefore, individuals involved in the issuance and sale of memecoins are not required to register their transactions with the Commission under the Securities Act of 1933, nor do they need to comply with the registration exemptions under the Securities Act. As a result, purchasers or holders of memecoins are not protected by federal securities laws.


    Market

    As of the time of writing, according to Coingecko data:

    BTC's latest trading price is $84,487.05, with a daily change of +0.1%;

    ETH's latest trading price is $2,300.15, with a daily change of -1.8%;

    BNB's latest trading price is $603.87, with a daily change of -1.1%;

    SOL's latest trading price is $137.07, with a daily change of +0.6%;

    DOGE's latest trading price is $0.2061, with a daily change of +1.0%;

    XPR's latest trading price is $2.19, with a daily change of -0.6%.


    Policy

    SEC Announces Dismissal of Civil Enforcement Action Against Coinbase

    According to market news, the US Securities and Exchange Commission (SEC) has announced the dismissal of its civil enforcement action against Coinbase (COIN.O).

    The case can be traced back to June 2023 (two years after Coinbase's IPO), when the SEC sued Coinbase, alleging that the company had combined the typically separate functions of broker-dealer, exchange, and clearing agency, in violation of US securities laws.

    SEC Commissioner: SEC's Dismissal of Coinbase Case Does Not Mean Abandoning Enforcement

    SEC Commissioner Hester M. Peirce issued a statement saying that the SEC has formally dismissed its civil enforcement action against Coinbase and will not take further action on the case. Peirce explicitly stated that she never supported the case and criticized the SEC's previous reliance on enforcement actions to regulate the crypto industry, which she believes has harmed the public interest, hindered industry development, and impeded the normal functions of the SEC's professional policy team.

    Peirce pointed out that the SEC's broad application of the Howey test has led to regulatory ambiguity, making it difficult for compliant businesses to operate, while allowing bad actors to evade legal responsibility in the regulatory gray areas. Additionally, the lack of a clear regulatory framework has forced many crypto companies to spend significant resources on legal compliance rather than product innovation. She believes the SEC's previous practice of using enforcement actions to shape policy has not only misled the industry but also prevented the policy team from effectively participating in industry rule-making.

    She emphasized that the SEC has now established a "Crypto Task Force" to give the policy team the lead role in collaborating with the public to develop a regulatory framework applicable to the crypto industry. The dismissal of the case does not mean the SEC is abandoning enforcement, but rather that future regulation will be centered on policy-making rather than relying solely on enforcement actions.

    ConsenSys Founder: SEC Agrees in Principle to Dismiss Securities Enforcement Case Against MetaMask

    ConsenSys founder Joseph Lubin posted on X platform that ConsenSys has reached an in-principle agreement with the US SEC to dismiss the securities enforcement case against MetaMask, and the SEC will file a stipulation of dismissal with the court. Joseph Lubin added that ConsenSys can now focus 100% on rebuilding, and 2025 will be the best year yet for Ethereum and ConsenSys as the transition to a more decentralized paradigm accelerates.

    Lawyer: Any Meme Coin Project Involving Fraud May Still Face Legal Accountability at the Federal or State Level

    Lawyer and Bain Capital Crypto's Head of Regulatory and Policy Khurram Dara posted on X platform that the SEC has issued guidance on meme coins, clearly stating that "meme coins" are not securities but rather more akin to collectibles. This news has led some market participants to interpret the SEC's stance as "relaxing" its regulation of meme coins.

    However, Khurram Dara warned that the market should not over-interpret the SEC's "friendly" attitude. The SEC's statement only represents the opinion of its Division of Corporation Finance and is limited to the federal securities law level. More importantly, the SEC's guidance explicitly states that if the issuance and sale of meme coins involve fraudulent behavior, they may still face enforcement and prosecution by other federal or state agencies.


      Blockchain Applications

      Coinbase and NEAR Establish Open AI Alliance to Promote Decentralized AI Services

      Coinbase, NEAR AI, and multiple blockchain and AI projects have jointly established the Open Agents Alliance (OAA), aiming to leverage blockchain infrastructure to drive open artificial intelligence (AI) services. The alliance is committed to "ensuring secure, open-source, economical, and equitable access to AI." Member organizations will provide AI agent frameworks, cloud hosting, and fiat/cryptocurrency conversion channels to support developers in building and deploying AI tools.

      Blockchain Loyalty Platform Blackbird Launches Flynet Mainnet on Base Chain

      Blackbird, a restaurant loyalty platform founded by Resy and Eater co-founder Ben Leventhal, has announced the launch of its Flynet mainnet, which can transfer restaurant payment functions onto the blockchain. Flynet is a third-layer blockchain built on Coinbase's Base chain.

      Number of New Tokens Listed on Pump.fun Down Over 80% from Peak

      According to Dune Analytics data, the number of new tokens successfully listed on the meme coin platform Pump.fun has declined by over 80% from its January peak. The data shows that the daily number of tokens completing the Pump.fun "bonding curve" has dropped from nearly 1,200 on January 23 and 24 to around 200 on February 26.


        Cryptocurrencies

        Stripe: Stablecoins are One of the Most Innovative Areas of the "Internet Economy"

        Payment company Stripe expects its total transaction volume to reach $1.4 trillion by 2024, and the company stated in its annual letter released on Thursday that stablecoins are one of the most innovative areas of the "internet economy".

        Stripe acquired stablecoin startup Bridge for $110 million last October. In the annual letter, co-founders Patrick and John Collison wrote that stablecoins represent an "improvement" in the "basic availability of money", just as paper currency was an advancement over coins. The Stripe founders wrote: "Compared to the status quo, stablecoins have four important properties. They make money movement cheaper, they make money movement faster, they are decentralized and open (and thus usable globally from day one), and they are programmable."

        Chainalysis: Crypto Crime May Exceed $51 Billion in 2024

        Chainalysis' 2025 "Crypto Crime Report" shows that crypto crime has entered a new era of professionalization, driven by AI-powered scams, stablecoin money laundering, and efficient cybercrime syndicates. The total value of illicit transactions reached $51 billion last year, breaking previous records. Initial estimates suggest crypto crime may decline in 2024. However, deeper analysis indicates otherwise: criminals have adopted advanced money laundering techniques, leveraging stablecoins, DeFi, and AI-driven deception, creating the illusion of a decrease in crime.

        Analyst: 25% Pullbacks in Bull Cycles are Common, Maintaining Bullish Stance

        Here is the English translation, with the content inside <> retained without translation:

        BRN analyst Valentin Fournier said, "Trump's announcement of a possible 25% tariff on European goods has once again raised investors' concerns, causing the Crypto Fear and Greed Index to fall to 10, in the extreme fear zone. Although some are concerned about the start of a bear market, history shows that a 25% correction is common in a bull market cycle. The US's efforts to establish a national cryptocurrency reserve remain a major long-term catalyst, and I will maintain a bullish stance, expecting the market to rebound before the end of this week, and remain neutral on BTC and ETH."

        Standard Chartered Analyst: Bitcoin May Drop 10% to $80,000

        Standard Chartered analyst Geoff Kendrick said that Bitcoin may drop 10% to $80,000, but a decline in government bond yields could lead to a rebound.

        Over 121 Million USDT Transferred from Unknown Wallet to Binance

        According to on-chain data tracking service Whale Alert, around 8:03 am Beijing time, 121,011,009 USDT were transferred from an unknown wallet to Binance.


        Important Economic Dynamics

        US Treasury Secretary: Economic Framework Agreement with Ukraine Completed, No Need for Further Negotiations

        US Treasury Secretary Yellen said on the 27th that the economic framework agreement with Ukraine has been completed, covering critical minerals, oil and gas, and infrastructure assets. Yellen said that Ukrainian President Zelenskyy and US President Trump will sign the agreement on the 28th, and there will be no further negotiations on the matter. She said this is a win-win deal on strategic minerals, oil and gas, and infrastructure assets.

        95.5% Probability of Fed Keeping Rates Unchanged in March

        According to the CME "Fed Watch", the probability of the Fed keeping rates unchanged in March is 95.5%, and the probability of a 25 basis point rate cut is 4.5%. The probability of keeping the current rate unchanged until May is 73.2%, the probability of a cumulative 25 basis point rate cut is 25.8%, and the probability of a cumulative 50 basis point rate cut is 1.1%.


                  Jinse Encyclopedia

                  What is Fractal Bitcoin

                  Fractal Bitcoin is an innovative blockchain scaling solution, based on recursive virtualization technology, creating a multi-layered network structure to enhance the scalability of Bitcoin while maintaining a secure connection to the mainnet. The creation of Fractal Bitcoin is rooted in the emergence of the Ordinals protocol and related applications in 2023. For security reasons, Bitcoin has implemented limitations on opcodes and block storage space in its iterations, and when the Bitcoin ecosystem develops rapidly, there are limitations in on-chain computing power and block space, so developers have proposed the concept of Fractal Bitcoin, hoping to solve the shortcomings of the Bitcoin network.

                  Disclaimer: Jinse Finance, as a blockchain information platform, the articles published are for informational reference only and do not constitute actual investment advice. Please everyone establish the correct investment concept and must improve risk awareness.

                  Source
                  Disclaimer: The content above is only the author's opinion which does not represent any position of Followin, and is not intended as, and shall not be understood or construed as, investment advice from Followin.
                  Like
                  Add to Favorites
                  Comments
                  Followin logo