
Crypto law firm Gresham advises against US presence, cites unfavorable regulatory environment
Law firm Gresham International said US unfavorable regulatory environment has shown that "crypto is not welcome."

Law firm Gresham International said US unfavorable regulatory environment has shown that "crypto is not welcome."

Coinbase stock, alongside several crypto-related stocks, have seen their values crash following the SEC's new lawsuit.

The new products are targeted at institutional traders with an increasing appetite for exposure to the crypto industry.

Coinbase Cloud already runs nodes and manages blockchain data infrastructure on several blockchain networks like Ethereum, etc.

The SEC wants the court to reject Coinbase's request for a new regulatory framework for the crypto industry.

The Chamber said the SEC's failure to establish a regulatory system for the crypto industry subverts due process.

Coinbase CEO Brian Armstrong praised United Arab Emirate's (UAE) progressive regulatory efforts in the crypto space.

The Court informed Coinbase that it can issue a reply to the SEC's response within seven days after it is filed.

Gemini said the new platform is unavailable to customers in the United States of America, the United Kingdom, or the European Union.

Over the past month, Coinbase's shares shed more than 20% — dropping from as high as $72 in April to $50.1 as of May 1.

The NFTs, including Bored Apes, were transferred to FTX's multi-signature wallet, according to Coinbase director Conor Grogan.

Coinbase COIN stock is down 15% over the last 30 days and was trading for $54.59 as of press time, according to Tradingview data.