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Evening Standard

Business

Daniel O'Boyle

US crypto crackdown heats up as watchdog sues Coinbase for breaching securities laws

SEC Coinbase Crypto United States Binance

US financial watchdog the SEC continues to crack down on the crypto sector, accusing exchange Coinbase of breaching securities laws just a day after suing its rival Binance.

In a filing with a federal court in New York, the SEC sued the exchange for breaching securities laws. It said Coinbase - the biggest crypto exchange in the US - has taken on the role of a broker, exchange and clearing house, despite failing to register for permission for any of these roles.

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