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CZ vs the SEC

Digital assets

8 Jun 2023

Regulatory risks loom over digital assets, with the SEC targeting Binance and Coinbase for allegedly running unlicensed exchanges and operating as middlemen on crypto transactions that evade disclosures. Ian Lowe, CEO of wealth99 discusses the legal challenges faced by major US-based cryptocurrency exchanges.

Despite the popularity of digital assets, Ian points to the regulatory ambiguity surrounding securities poses challenges for the crypto industry. He says the SEC's charges have galvanized the Web3 industry to call for regulatory clarity and invest in investor protection.

However, Lowe argues that the charges against Binance and Coinbase (COIN) are not entirely clear-cut and that the exchanges have sufficient resources to fight legal battles.