- SEC files lawsuits against Binance and Coinbase, causing a stir in the cryptocurrency market.
- Bitcoin’s value drops to a monthly low following the news of the lawsuits.
- The implications of these lawsuits for crypto traders and the broader market.
US regulatory agencies are significantly stepping up their scrutiny of crypto exchanges. The U.S. Securities and Exchange Commission (SEC) lawsuits against Binance and Coinbase have sent shockwaves throughout the crypto markets.
On Monday, June 5, 2023, the SEC charged Binance, the world’s largest crypto exchange, and its founder Changpeng Zhao with operating an unregistered securities exchange. Just one day later, the agency filed a similar lawsuit against Coinbase.
How SEC Lawsuits Against Binance, Coinbase Affected Crypto Markets
Bitcoin’s value fell sharply to a three-month low following the news of the cases. The leading crypto fell to $25,500,…
