SEC Sued Binance and Coinbase. What’s Next for Crypto?

According to the U.S. Securities and Exchange Commission (SEC), Binance and Coinbase are facing charges for operating as unregistered exchanges, broker-dealers, and clearing agencies. In the case of Binance, the SEC has filed 13 charges against the company and its founder, Changpeng Zhao. The charges include allegations that Binance was operating unregistered exchanges, broker-dealers, and clearing agencies, misrepresenting trading controls and oversight on the Binance.US platform, and offering and selling securities without registration​​. The SEC claims that Binance subverted its…