It’s a lawsuit that could transform the entire crypto market. The US Securities and Exchange Commission is suing the cryptocurrency platform Coinbase for allegedly bypassing regulation. It’s the second chapter of a major crackdown on the industry after the SEC sued Binance, the world’s largest cryptocurrency exchange on Monday.
The US Securities regulator says Coinbase’s failure to register properly has deprived investors of protective measures, including safeguards against conflict of interest, and record keeping requirements. The largest crypto platform in the US had 110 million users and around 80 billion dollars in assets at the end of 20-22.
For more on the US Crypto Crackdown, we can now speak to DW reporter Michelle Stockman.
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