The lawsuits raise questions about other exchanges that have also allowed U.S. investors to trade cryptocurrency coins, and whether they could be at risk of SEC action, industry executives said
, the world’s largest cryptocurrency exchange, of offering 12 cryptocurrency coins without registering them as securities.
Both Coinbase and Binance deny the SEC’s allegations and have pledged to vigorously defend themselves in court. The SEC declined to comment. The Coinbase and Binance suits this week expand that list to include some commonly traded tokens, such as Solana, Cardano and Polygon. But whether the SEC wins or loses, the suits send a strong signal to the industry that the agency is not going to let up, said executives. While big crypto companies can afford to fight the SEC, smaller companies have filed for bankruptcy following SEC enforcement actions, including crypto exchange Beaxy.
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