The Wall Street Journal: SEC focuses on investigating exchanges, including Coinbase, Binance, and FTX's U.S. operations
According to sources cited by The Wall Street Journal, after the collapse of FTX, the U.S. Securities and Exchange Commission (SEC) is investigating major exchanges including Coinbase Global, as well as the U.S. operations of Binance and FTX. Over the past six years, the SEC has fined or sued dozens of token developers, but has yet to prosecute a major cryptocurrency exchange.
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According to reports cited by The Wall Street Journal, the U.S. Securities and Exchange Commission (SEC) is investigating key exchanges including Coinbase Global, as well as Binance and FTX's U.S. operations following the collapse of FTX. Over the past six years, the SEC has fined or sued dozens of token developers but has yet to prosecute a major cryptocurrency exchange.
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Additionally, the report mentioned that compared to regulating cryptocurrency issuers, SEC Chairman Gary Gensler prefers to regulate exchanges and brokerages as they are the hub of trading activities. Convincing them to comply with SEC regulations would be more efficient. Sources mentioned that the SEC understands that enforcement takes time, and dealing with major exchanges will inevitably involve litigation, and settlements are unlikely as compliance with the SEC would cut off profitable activities for businesses.