a new zone of turbulence threatens the crypto sector

This double blow of bamboo struck by the SEC is not a surprise. 240260651/Lionel – stock.adobe.com

The regulatory thunderbolt has just struck twice in the American cryptocurrency landscape. Within hours, the financial market watchdog, the Securities and Exchange Commission (SEC), sued the two biggest players in the global cryptoet ecosystem: Binance and the American Coinbase.

If the two complaints are to be clearly distinguished, because the nature of the accusations differs, the SEC nevertheless addresses a common reproach to the two platforms, and to the entire sector: with a few exceptions – including bitcoin -, the cryptocurrencies listed on the platforms are considered as financial instruments (as well as certain services offered), and the exchanges on which they are traded must be regulated as such. The SEC therefore accuses Coinbase and Binance of not having requested the necessary licenses for this and of operating on American territory in violation of federal laws. With, as a result, fines, administrative sanctions…