Crypto Industry Faces Regulatory Challenges and Losses in Outflows
The SEC's enforcement actions against Binance and Coinbase for allegedly violating securities laws caused leading cryptocurrencies to plummet in price this week. The SEC's lawsuit against Binance listed several altcoins as securities, including Solana, Polygon, and Cardano. Crypto Twitter was abuzz with reactions from industry figures, including Charles Hoskinson and CZ. Coinbase hit back with counter propaganda, and the U.S. Court of Appeals responded to a public petition filed by Coinbase against the SEC. Robinhood announced it was delisting the coins listed as securities in the SEC's Binance lawsuit, and Binance.US suspended dollar deposits and withdrawals as it transitions to a "crypto-only exchange."
- This Week on Crypto Twitter: Outrage Over the SEC Crypto Crackdown Decrypt
- Binance, Binance.US, and Coinbase collectively lose $4B in outflows CoinJournal
- Binance Faces Regulatory Hurdle in Nigeria: Ordered to Cease Operations Cryptonews
- SEC v. Cardano: Legal Expert Slams Allegations as Weak, Here's Why U.Today
- Binance, Coinbase head to court; the SEC labels 67 crypto-securities Cointelegraph
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