The Securities and Exchange Commission (SEC) has been having a busy week. The regulators sued Binance and its CEO on Monday. And the next day sued Coinbase, alleging it violated federal securities law.
The financial regulator alleges the US crypto exchange violated federal securities law and acted as a broker, exchange and clearing agency for investments that are subject to SEC rules, but failed to register as an exchange.
Meanwhile, the regulators found time to ask a federal court to issue a temporary restraining order to freeze Binance’s US assets.