, Binance and its CEO, on grounds that it too is violating securities rules by not registering with the SEC. The pair of suits are part of SEC Chair Gary Gensler's push to regulate the burgeoning cryptocurrency market and protect investors.
Securities regulators say that Coinbase and other crypto platforms offer the same services as an exchange, broker and clearing agency, making them legally required to register with agency. Gurbir S. Grewal, director of the the SEC's division of enforcement, said that exchanges like Coinbase aren't exempt from regulation and that the SEC will hold it accountable.
Coinbase pushed back against the SEC's allegations, and dismissed the agency's move as one that hurts American economic competitiveness.
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