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While the U.S. government opts for regulation by enforcement, other countries are fostering vibrant crypto ecosystems due to progressive regulation, argues Coinbases Daniel Seifert. 9426 Total views 82 Total shares Listen to article 0:00 News Own this piece of history

Collect this article as an NFT With Coinbase seemingly on the verge of a court battle with the United States Securities and Exchange Commission (SEC), the firm has emphasized that the U.S. governments hawkish approach to crypto regulation has left a vacuum that other countries are eager to fill.

The SEC issued Coinbase a Wells notice on March 22 outlining that SEC staff had recommended the agency take enforcement action over possible violations of securities laws concerning some of the firms asset listings, staking services and Coinbase Wallet.

In a March 23 blog post titled, Europe is winning. Will the US catch up? Daniel Seifert, Coinbases vice president and regional managing director in Europe, stressed that the U.S.s regulatory approach to crypto has been marked by regulation by enforcement, despite industry-wide calls for comprehensive crypto regulation.

This approach has created an environment of uncertainty and instability in the crypto industry, he wrote.

Coinbases top lawyer @iampaulgrewal says the SEC wants court fights instead of conversation.

In dozens of meetings with the SEC over the last 9 months, Grewal says the exchange was given essentially no response to key questions.

Listen:https://t.co/027slXaMhb pic.twitter.com/L0ikJwleyA Laura Shin (@laurashin) March 24, 2023

As such, Seifert argued that the U.S. is losing its status as the leading hub of the crypto sector, while France, the U.K. and the European Union are now building vibrant ecosystems due to their friendlier approach to crypto regulation.

The US has left a vacuum that other countries are eager to fill, he wrote, adding: we are proudly an American company. Its hard to sit by and watch the US squander the opportunity it has been given.

The SEC misses one of the biggest frauds in history – FTX/Alameda

Gary Gensler cozies up to the head of that fraud – SBF

And then the SEC goes after the most legitimate company in crypto – Coinbase

Yes yes very normal and totally rational sassal.eth (@sassal0x) March 23, 2023

In particular, Seifert highlighted the significance of Paris Blockchain Weekhosted at the Louvre this month. He also pointed to the U.K.s recent push to become a crypto hub, and the European Unions Markets in Crypto-Assets (MiCA) regulation, slated to come into effect in 2024.

This year its being held in a private space at the Louvre, arguably the greatest national treasure in France and one of the worlds most respected museums, he said, adding: To me this is a clear signal: France is rapidly recognizing the opportunity that crypto presents and is offering it space to flourish. The broader EU, the UK, UAE, Hong Kong, Singapore, Australia, and Japan are all following suit.

The MiCA legislation has been in development for two years,and aims to establish a harmonized set of rules for crypto-assets and related activities and services.

Related: Cathie Woods ARK loading up on Coinbase shares again, buying $18M

It is generally expected to be a positive move for the European cryptocurrency ecosystem, as it will offer clear rules and guidelines for the sector.

Already we are seeing that Europe now matches the US in its share of crypto developers (29% apiece globally). The US used to lead the charge with 40%, he said, adding that: This level of growth does not happen by chance. Concerted efforts have to be made, such as developing a regulatory framework that will provide clarity and stability for businesses operating in the space.

In a lengthy March 23 Twitter thread, the Crypto Council for Innovation also highlighted similar points to Seifert, commenting that crypto is global, and nobody is waiting around for the US to land the plane.

1/ Crypto is global, and nobody is waiting around for the US to land the plane. Here, our roundup of global activity (): Crypto Council for Innovation (@crypto_council) March 24, 2023

The thread explored positive developments globally, including examples such as the National Australia Banks work with non-U.S. dollar-pegged stablecoins, Hong Kongs efforts to become a digital asset hub, and the Canadian Securities Administration recently imposing enhanced investor protection commitments on domestic crypto exchanges. #Coinbase #France #Business #SEC #UK Government #US Government #European Union #Regulation

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Add reaction Related News What is Solana (SOL) Pay, and how does it work? White House report takes aim at Bybit and forgot about Deribit Biden vows to hold accountable those responsible for SVB, Signature collapse Coinbase met with Australian banking regulators over local crypto regulations Coinbase CEO on its Wells notice: SEC is like soccer referees in a game of pickleball

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Post Office scandal: Daughter has had ‘panic attacks’ since mum was accused of stealing

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Post Office scandal: Daughter has had 'panic attacks' since mum was accused of stealing

The daughter of a Post Office victim has told Sky News she suffered “dark thoughts of suicide” in the years after her mother was accused of stealing.

Kate Burrows was 14 years old when her mother, Elaine Hood, was prosecuted and subsequently convicted in 2003.

The first public inquiry report on the Post Office – examining redress and the “human impact” of the scandal – is due to be published today.

“I’ve suffered with panic attacks from about 14, 15 years old, and I still have them to this day,” Kate said.

“I’ve been in and out of therapy for what feels like most of my adult life and it absolutely categorically goes back to [what happened].”

Kate and Rebecca with their mother, Elaine
Image:
Kate and Rebecca with their mother, Elaine

Kate, along with others, helped set up the charity Lost Chances, supporting the children of Post Office victims. She hopes the inquiry will recognise their suffering.

“It’s important that our voices are heard,” she said. “Not only within the report, but in law actually.

More on Post Office Scandal

“And then maybe that would be a deterrent for any future cover-ups, that it’s not just the one person it’s the whole family [affected].”

Her sister, Rebecca Richards, who was 18 when their mother was accused, described how an eating disorder “escalated” after what happened.

“When my mum was going through everything, my only control of that situation was what food I put in my body,” she said.

Elaine Hood with her husband
Image:
Elaine with her husband

She also said that seeing her mother at court when she was convicted, would “stay with me forever”.

“The two investigators were sat in front of my dad and I, sniggering and saying ‘we’ve got this one’.

“To watch my mum in the docks handcuffed to a guard… not knowing if she was going to be coming home… that is the most standout memory for me.”

The sisters are hoping the inquiry findings will push Fujitsu into fulfilling a promise they made nearly a year ago – to try and help the children of victims.

Rebecca Richards and Kate Burrows
Image:
The siblings were teenagers when their mum was unfairly prosecuted

Last summer, Kate met with the European boss of the company, Paul Patterson, who said he would look at ways they could support Lost Chances.

Despite appearing at the inquiry in November last year and saying he would not “stay silent” on the issue, Kate said there has been little movement in terms of support.

“It’s very much a line of ‘we’re going to wait until the end of the inquiry report to decide’,” she said.

“But Mr Patterson met us in person, looked us in the eye, and we shared the most deeply personal stories and he said we will do something… they need to make a difference.”

Please use Chrome browser for a more accessible video player

2024: Paula Vennells breaks down in tears

Fujitsu, who developed the faulty Horizon software, has said it is in discussions with the government regarding a contribution to compensation.

The inquiry will delve in detail into redress schemes, of which four exist, three controlled by the government and one by the Post Office.

Victims of the scandal say they are hoping Sir Wyn Williams, chair of the inquiry, will recommend that the government and the Post Office are removed from the redress schemes as thousands still wait for full and fair redress.

A Department for Business and Trade spokesperson said they were “grateful” for the inquiry’s work, describing “the immeasurable suffering” victims endured and saying the government has “quadrupled the total amount paid to affected postmasters”, with more than £1bn having now been paid to thousands of claimants.

Anyone feeling emotionally distressed or suicidal can call Samaritans for help on 116 123 or email jo@samaritans.org in the UK. In the US, call the Samaritans branch in your area or 1 (800) 273-TALK

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UK

Post Office scandal: Daughter has had ‘panic attacks’ since mum was accused of stealing

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By

Post Office scandal: Daughter has had 'panic attacks' since mum was accused of stealing

The daughter of a Post Office victim has told Sky News she suffered “dark thoughts of suicide” in the years after her mother was accused of stealing.

Kate Burrows was 14 years old when her mother, Elaine Hood, was prosecuted and subsequently convicted in 2003.

The first public inquiry report on the Post Office – examining redress and the “human impact” of the scandal – is due to be published today.

“I’ve suffered with panic attacks from about 14, 15 years old, and I still have them to this day,” Kate said.

“I’ve been in and out of therapy for what feels like most of my adult life and it absolutely categorically goes back to [what happened].”

Kate and Rebecca with their mother, Elaine
Image:
Kate and Rebecca with their mother, Elaine

Kate, along with others, helped set up the charity Lost Chances, supporting the children of Post Office victims. She hopes the inquiry will recognise their suffering.

“It’s important that our voices are heard,” she said. “Not only within the report, but in law actually.

More on Post Office Scandal

“And then maybe that would be a deterrent for any future cover-ups, that it’s not just the one person it’s the whole family [affected].”

Her sister, Rebecca Richards, who was 18 when their mother was accused, described how an eating disorder “escalated” after what happened.

“When my mum was going through everything, my only control of that situation was what food I put in my body,” she said.

Elaine Hood with her husband
Image:
Elaine with her husband

She also said that seeing her mother at court when she was convicted, would “stay with me forever”.

“The two investigators were sat in front of my dad and I, sniggering and saying ‘we’ve got this one’.

“To watch my mum in the docks handcuffed to a guard… not knowing if she was going to be coming home… that is the most standout memory for me.”

The sisters are hoping the inquiry findings will push Fujitsu into fulfilling a promise they made nearly a year ago – to try and help the children of victims.

Rebecca Richards and Kate Burrows
Image:
The siblings were teenagers when their mum was unfairly prosecuted

Last summer, Kate met with the European boss of the company, Paul Patterson, who said he would look at ways they could support Lost Chances.

Despite appearing at the inquiry in November last year and saying he would not “stay silent” on the issue, Kate said there has been little movement in terms of support.

“It’s very much a line of ‘we’re going to wait until the end of the inquiry report to decide’,” she said.

“But Mr Patterson met us in person, looked us in the eye, and we shared the most deeply personal stories and he said we will do something… they need to make a difference.”

Please use Chrome browser for a more accessible video player

2024: Paula Vennells breaks down in tears

Fujitsu, who developed the faulty Horizon software, has said it is in discussions with the government regarding a contribution to compensation.

The inquiry will delve in detail into redress schemes, of which four exist, three controlled by the government and one by the Post Office.

Victims of the scandal say they are hoping Sir Wyn Williams, chair of the inquiry, will recommend that the government and the Post Office are removed from the redress schemes as thousands still wait for full and fair redress.

A Department for Business and Trade spokesperson said they were “grateful” for the inquiry’s work, describing “the immeasurable suffering” victims endured and saying the government has “quadrupled the total amount paid to affected postmasters”, with more than £1bn having now been paid to thousands of claimants.

Anyone feeling emotionally distressed or suicidal can call Samaritans for help on 116 123 or email jo@samaritans.org in the UK. In the US, call the Samaritans branch in your area or 1 (800) 273-TALK

Continue Reading

Sports

Padres slugger Machado gets 2,000th career hit

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Padres slugger Machado gets 2,000th career hit

SAN DIEGO — Manny Machado of the San Diego Padres got his 2,000th career hit Monday night against the Arizona Diamondbacks with a sharp single off the glove of diving shortstop Geraldo Perdomo.

The milestone hit came off Arizona starter Zac Gallen leading off the fourth inning. Machado received a standing ovation from the crowd at Petco Park, where he has been a fan favorite since he joined the Padres as a free agent in 2019.

The All-Star slugger singled to left field in the first inning for his 1,999th hit and then hit a solo home run in the eighth for his 2,0001st hit. The three-hit performance wasn’t enough to lift San Diego, however, as it fell 6-3.

Machado became the fifth active player and 297th all time to reach the milestone. He is the 12th player to have 350 homers and 2,000 hits by his age-32 season or younger.

“Literally, hat’s off. It’s quite an accomplishment,” Padres manager Mike Shildt said after the loss on 97.3 The Fan. “To have done it, as soon as he’s done it in his career, speaks volumes. … I’m so happy for him. He’s earned it all.”

Machado made his debut with Baltimore in 2012 and had 977 hits with the Orioles before being traded to the Los Angeles Dodgers on July 18, 2018. He had 73 hits with the Dodgers before signing as a free agent with the Padres on Feb. 21, 2019.

He has 950 hits with the Padres, which ranks fifth on the franchise list. Hall of Famer Tony Gwynn had 3,141 in his 20-season career.

Machado was voted the starting third baseman for the National League All-Star team this season.

The Associated Press contributed to this story.

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