Regulatory crackdowns and controversies shake up the crypto industry.
TL;DR Summary
The US Treasury Department and Securities and Exchange Commission have become increasingly hostile towards the cryptocurrency industry, leading to a regulatory crackdown. This has resulted in Coinbase taking the SEC to court over a request made last July to issue new rules governing the regulation of digital assets. The outlook for the industry in the US looks bleak, despite the strong performance of crypto assets in 2023.
- 'Crypto is dead in America.' How FTX's collapse instigated a Biden crackdown on the digital-asset sector. MarketWatch
- Coinbase Is Suing the Feds for Once Gizmodo
- Cathie Wood's Latest Move: Diving Deeper Into a Controversial Stock TheStreet
- Coinbase trading volumes fall as regulatory uncertainty weighs Financial Times
- Frustrated Coinbase tries rare maneuver to compel SEC to clear up crypto murkiness Reuters
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