Regulatory Uncertainty Looms Over Cryptocurrency Industry.

The recent lawsuits against Coinbase and Binance by the SEC are a natural and logical outcome of the statements made by the SEC Chair Gary Gensler, who believes that most cryptocurrencies are securities and that exchanges like Coinbase were always likely to be targeted for selling their securities without an official license. The SEC wants to be seen as acting and is telling the crypto industry that things need to change now. The lawsuits are directed at companies that sell tokens, not necessarily the tokens themselves. The situation is troubling not only for exchanges but for token projects too.