In a stunning move, over the last two days, the Securities and Exchange Commission ("SEC") has filed back-to-back enforcement actions against major crypto exchanges Binance (See ) and Coinbase (See . This clearly indicates that the SEC is flexing its enforcement power over both international exchanges as well as those exchanges with a focus on the United States.

The substantive sections of both complaints show that the SEC’s legal theories used to attack the digital assets industry are changing, and new angles of attack are being explored.

For example, in Binance’s enforcement action, the charges revolve around Binance’s alleged […]

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By Donato