from The Block. Monthly volumes, meanwhile, for Coinbase International's ether contract came in at $770 million in July.
As for the SEC battle, Coinbase will have to mollify analysts' concerns about the potential costs associated with its battle with Gary Gensler's agency. As The Block, legal costs for Binance and Coinbase in their respective battles with the SEC could top $100 million. "If legal fees for both exceed $100 million, I would not be surprised," Moses Singer partner Howard Fischer told The Block in an interview.
"We believe this amendment, if it remains in the final version of the NDAA, could be problematic for USDC and other issuers of stablecoins if it were to result in the establishment by the Treasury Secretary a standard of KYC and AML monitoring with which they would be unable to comply. We note that the identities of the holders of stablecoins can only be ascertained at two points: when they are issued and when they are redeemed.
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Source: CoinDesk - 🏆 291. / 63 Read more »