• Crypto

Coinbase joins Binance in SEC crypto crackdown

Crypto firms are facing tight scrutiny in the US

SEC chair Gary Gensler alleged Coinbase commingled and unlawfully offered exchange, broker-dealer, and clearinghouse functions

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The Securities and Exchange Commission has filed charges against crypto exchange Coinbase, less than 24 hours after suing Binance and its founder Changpeng Zhao.

The US regulator alleged that Coinbase has made “billions of dollars unlawfully facilitating the buying and selling of crypto asset securities”, it said in a 6 June press release.