- The SEC has escalated its crackdown on major cryptocurrency exchanges.
- Ripple CEO criticizes SEC Chair’s contradictory “pro-innovation stance.”
- Binance and Coinbase lawsuits are seen as a diversion from FTX mishandling.
The enforcement actions recently undertaken by the US Securities and Exchange Commission (SEC) against prominent cryptocurrency exchanges have garnered significant attention within the crypto space. These actions, which involved filing lawsuits against two major exchanges, Binance and Coinbase, took the industry by surprise, given their global prominence.
According to the SEC, both Binance and Coinbase facilitated the trading of cryptocurrencies that the commission considers securities. The news of these lawsuits echoed when Gary Gensler, the chairman of the SEC, expressed his belief that the United States does not require additional digital currencies.
Unsurprisingly, influential…
