SEC Takes Aim at Coinbase and Binance in Crypto Crackdown
TL;DR Summary
The US Securities and Exchange Commission (SEC) has filed a lawsuit against Coinbase, accusing the largest US cryptocurrency exchange of operating illegally by failing to register with the regulator. This comes a day after the SEC sued Binance, the world's largest cryptocurrency exchange. Both cases are part of SEC Chair Gary Gensler's push to assert jurisdiction over crypto markets and protect investors while shoring up their trust in capital markets. The lawsuit seeks civil fines, the recouping of ill-gotten gains, and injunctive relief. Coinbase's parent company's shares fell by 16.2% after the news.
- US SEC charges crypto platform Coinbase, one day after suing Binance Reuters
- S.E.C. Accuses Binance of Mishandling Funds and Lying to Regulators The New York Times
- SEC sues Coinbase over exchange and staking programs, stock drops 16% CNBC
- Crypto Winter: Binance and Coinbase Show Regulators Have Their Knives Out Bloomberg
- Anthony Scaramucci on Binance suit: 'This is about the future of digital assets in the U.S.' CNBC Television
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