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The FDIC ordered the platform to remove misleading statements about the agency’s insurance coverage of user accounts

The corresponding decision was made by New York Attorney General Letitia James

Previously, such a situation on the crypto market was observed in the spring of 2020 during the COVID-19 pandemic

According to Michael Saylor, the SEC’s actions will ultimately play in bitcoin’s favor

The regulator has not yet decided whether the exchange’s request will be considered, assuming that recommendations on it could be made within 120 days

According to the court’s decision, the crypto exchange can continue operating as usual

The company attributed the decision to “recent developments,” referring to the SEC’s lawsuits against crypto exchanges Coinbase and Binance

The platform’s representatives called the Commission’s demand “draconian and unduly burdensome”

According to John Reed Stark, the SEC and CFTC lawsuits are more like criminal ones

According to lawmakers, Gary Gensler committed a “long series of abuses that have been permitted under the current SEC structure”

The company expects clarity on the regulation of the crypto market

Representatives of the exchange referred to the limited demand for the service