Crypto Industry Faces Legal Woes and Celebrity Scandals

The US government's crackdown on the cryptocurrency industry continues to widen, with recent enforcement actions including the SEC's threat to take legal action against Coinbase and its suit against the Tron blockchain network, the apprehension of crypto fugitive Do Kwon, and even celebrity crypto promoters like actress Lindsay Lohan and rapper Soulja Boy getting caught up in the crackdown. The SEC's decision to treat many cryptoassets as securities that must be registered with the agency and subject to all the regulations that go along with it has left those caught up in its sights with the option to capitulate and pay a settlement with the regulator or fight it in court.