US Government's Increasing Scrutiny on Crypto and Big Tech Companies

The Securities and Exchange Commission (SEC) has sued Coinbase for operating as an unregistered securities exchange, broker, and clearing agency, and for offering and selling securities without registering. The lawsuit came just a day after the SEC sued Binance for fraud. The SEC's actions against crypto exchanges are part of the Biden administration's broader efforts to regulate loosely regulated tech industries. Coinbase believes it has done nothing wrong and will fight the SEC to prove it, on behalf of the entire industry that is simply asking for clarity that the SEC refuses to provide.