Coinbase released statement regarding BTG and SegWit2X

Coinbase will keep the BTC ticker for the original bitcoin chain and at this this stage it doesn't plan to charge BTG to users
24 October 2017   4290

Coinbase has issued a new statement regarding the SegWit2x and Bitcoin Gold hardforks, confirming that, if SegWit2x implemented, it will keep the BTC ticker for the original bitcoin chain.

The new chain, respectively, will be assigned a B2X ticker.

Any customer with a BTC balance on Coinbase at the time of the fork will be credited with an equal amount of the B2X asset on the Bitcoin2x blockchain. No action is required — we will automatically credit your account. So, if you have 5 BTC stored on Coinbase before the fork; you will have 5 BTC and 5 B2X following the event.
 

David Farmer
Director of Comms, Coinbase

Refusal to confirm that the original bitcoin will retain the ticker BTC led to fierce criticism of Coinbase and even led to the fact that the largest today crypto-currency company was on the "black list" of Bitcoin.org.

However, now the company has confirmed that all users whose accounts at the moment of fork (block 494,784, tentatively on November 16) will have bitcoins, the corresponding number of B2X coins will be credited. Purchase, sale, as well as deposit and withdrawal of funds will be stopped 24 hours before the fork.

In the future, the company expects that within the next 24 hours the purchase and sale of BTC and B2x will be activated, deposits and withdrawal of funds should become available within 48 hours after the end of the year.

Also, Coinbase confirmed its position on Bitcoin Gold hardfork, saying that at this stage it does not plan to charge BTG coins to users, but it will be ready to do as soon as "blockchain proves to be secure and valuable".

Information about this fork (BTG) has been limited and there are concerns about its security and stability. As a result, we do not believe it is safe to allow support for Bitcoin Gold at this time. If the blockchain proves to be secure and valuable, Coinbase may choose to support it. At that point, your account will be credited with an amount of Bitcoin Gold equal to your Bitcoin (BTC) balance at the time of the fork.
 

David Farmer
Director of Comms, Coinbase

US Crypto Companies to Support TON in Case With SEC

The Blockchain Association said Telegram taken sufficient measures to ensure that the Gram token offer met SEC requirements
23 January 2020   439

The Blockchain Association, which combines companies such as Coinbase, Circle, 0x and Ripple, issued an expert opinion as part of the ongoing proceedings of the US Securities and Exchange Commission (SEC) with Telegram.

Previously, the Digital Commerce Chamber launched a similar initiative. The blockchain association, however, was more straightforward and stated that Telegram had taken sufficient measures to ensure that the Gram token offer met SEC requirements. According to members of the organization, the actions of the SEC can damage not only Telegram, but the market as a whole.

The Court should not block a long-planned, highly anticipated product launch by interfering with a contract between sophisticated private parties. Doing so would needlessly harm the investors that securities laws were designed to protect.

 

The Blockchain Association

The Blockchain Association notes that for many years it has not been possible for SEC to obtain clear and unambiguous guidance for conducting activities in the cryptocurrency space, while the claims of the regulator make the current situation even more ambiguous. 

The SEC’s lawsuit also raises novel questions regarding whether companies are forbidden from raising funds from sophisticated U.S. investors, under well-established regulatory provisions, to build blockchain networks.

 

The Blockchain Association

They cite examples of startups TurnKey Jet and Pocketful of Quarters, in respect of which the regulator recommended not to apply legal measures, adding that such litigations inevitably involve high costs and do not guarantee industry participants that they will not be prosecuted in the future.

Telegram discussed its plans with SEC staff for a year and a half, provided copious information and responded to limited feedback by adjusting the design of its transaction. Yet, at the end, the SEC has sued, and the SEC’s briefs thus far say nothing about the substance of those discussions. 

 

The Blockchain Association

In conclusion, the group asks the court to “reject the SEC’s arguments that the not-yet-in-existence Grams were securities at the time of the Purchase Agreements.”