exchanges should now be on notice that they may be subject to enforcement action if they permit, or have permitted, these tokens to be traded," said Jason Allegrante, chief legal and compliance officer at Fireblocks, a digital asset infrastructure provider.Ī spokesperson for crypto exchange Bitstamp said the company takes "all new regulatory developments very seriously" and is "currently reviewing the new information that has come out this week to determine what actions to take."īoth Coinbase and Binance deny the SEC's allegations and have pledged to vigorously defend themselves in court. Some exchanges may look to de-list the tokens in question. investors to trade those tokens, such as Kraken, Gemini, and Okcoin, and whether they could be at risk of regulatory action, industry executives said. That raises questions about other exchanges that have also allowed U.S. The lawsuits expand the overall number of cryptocurrencies that the SEC has explicitly identified as securities. The SEC on Tuesday alleged Coinbase traded at least 13 crypto assets that are securities and which should have been registered, while on Monday it also accused Binance, the world's largest cryptocurrency exchange, of offering 12 cryptocurrency coins without registering them as securities. crypto exchanges are likely to be in the firing line after the Securities and Exchange Commission (SEC) this week sued Coinbase and Binance, two of the world's largest crypto exchanges, for allegedly breaching its rules. WASHINGTON, June 8 (Reuters) - Other U.S.
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