![]() ![]() We will also look at each exchange’s pros and cons and deliver a final verdict.Ĭontinue reading to find out which platform, out of Coinbase and Binance, maybe a better fit for your cryptocurrency exchange needs.Ĭoinbase is one of the earliest crypto exchanges dating back to 2012, a time when Bitcoin exchanges were few and far between. To determine which one may be better for your given situation, we will consider what each platform offers, including its features and services, how much they charge their customers, the security of the platform, and adherence to regulatory provisions. One is recognized for being well established in a highly regulated jurisdiction, while the other is known for offering almost all the features that their users need while making them available to a wider audience. They are both popular for different reasons. It’s likely that you have access to one or both of these exchanges, depending on your requirements and where you live in the world. There’s a lot to consider when determining and comparing several crypto exchanges, and in this guide, we are focusing on two of the most popular exchanges: Coinbase ( COIN) and Binance. Other exchanges may be a perfect fit but not available within the users’ jurisdiction. Different platforms provide varying services, cover a range of geographic locations, and charge a variety of prices.Ī good exchange is a matter that is subjective to the user as one platform may have features that are essential to one person and non-essential to another. IntroductionĬhoosing which cryptocurrency exchange to use for your activities within the blockchain scene is an important decision. They may offer similar services in the same market, but they do so very differently, and in this guide, we will focus on these similarities and differences to determine which one between the two is the better choice. ![]() In a separate filing late on Tuesday, the SEC requested a temporary freeze on the assets of several Binance-linked entities, as well as repatriation and other relief for customer assets held on Binance’s US platform.Coinbase and Binance are two of the most popular cryptocurrency exchanges for different reasons. At Binance, the regulator is also seeking to permanently ban Zhao from acting as an officer or director of any issuer whose securities are registered with the agency. The SEC is seeking to enjoin Coinbase and Binance from violating certain sections of the securities and exchange acts, disgorge alleged ill-gotten gains and pay a monetary penalty. “These trading platforms, they call themselves exchanges, are commingling a number of functions which in traditional finance,” Gensler told CNBC on Tuesday. Binance’s international exchange, its US exchange and Coinbase collectively hold 50.6 per cent of the crypto trading market, according to figures provided by data platform CCData. The SEC brought 13 charges against Binance, the world’s largest crypto exchange, and Zhao. Gensler said: “Coinbase’s alleged failures deprive investors of critical protections, including rule books that prevent fraud and manipulation, proper disclosure, safeguards against conflicts of interest, and routine inspection by the SEC.” Assets available on these venues included what the regulator defined as securities, “thus bringing Coinbase’s operations squarely within the purview of the securities laws”. ![]() The SEC alleged Coinbase has since at least 2019 operated as an unregistered broker through its exchange platform, prime brokerage and crypto wallet service, which stores customers’ funds on their behalf. The commission has launched a blitz of enforcement actions against crypto companies since the start of the year. ![]() Gary Gensler, the SEC chair, has sought to stake his agency’s claim as the lead regulatory authority over crypto in the US. The enforcement action came a day after the SEC filed a complaint against Binance and its chief executive Changpeng Zhao, alleging an array of civil charges including improperly mixing customer funds with those of a trading firm owned by Zhao. ![]()
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