8/2/2023 0 Comments Binance usa which states![]() The 136-page complaint accuses the company of avoiding rules by letting Americans improperly open accounts and trade. ![]() The lawsuit against Binance, the world’s largest token exchange, takes a different approach. “Why should the New York stock exchange or broker-dealers we all know and respect be undermined by this other corner of the capital markets, which is sort of saying, thumbing their nose and saying, ‘Catch us if you can’,” he said. In an interview with Bloomberg, Gensler depicted the crackdown as an effort to protect investors and the integrity of US securities markets. By declaring Coinbase an illegal exchange, the SEC chief makes it harder for US crypto traders to trade digital tokens. Gensler has repeatedly argued that most tokens fall under SEC oversight, and has warned government-regulated banks to steer clear. The second claimed that the biggest US crypto platform Coinbase of running an illegal exchange.Ī 101-page lawsuit filed in federal court in New York on Tuesday alleges Coinbase skirted SEC rules for years by letting users trade crypto tokens that were actually unregistered securities. ![]() The first accused industry giant Binance of a range of securities violations, including mishandling customer funds and misleading investors and regulators. The effort to establish clarity came in the form of back-to-back lawsuits. This week, Gary Gensler, a longtime critic of crypto and the chair of the US Securities and Exchange Commission (SEC), appears to have found the answer – by launching a crackdown on crypto exchanges, the platforms on which investors buy and sell digital currencies.
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