SEC Charges Coinbase and Binance for Mishandling Funds and Lying to Regulators in Crypto Crackdown!

Crypto platform Coinbase has been charged by the United States Securities and Exchange Commission (SEC) just one day after the regulatory body sued Binance over similar allegations. The SEC alleges that Coinbase mishandled funds and lied to regulators, causing the platform’s stock to drop by 16%. In addition to the charges, Coinbase is also being sued over its exchange and staking programs. These actions by the SEC are seen as part of a wider crackdown on crypto platforms, with the regulator indicating it will pursue those who violate securities laws. Anthony Scaramucci, founder of SkyBridge Capital, said the lawsuits are about the future of digital assets in the US and that regulators have their knives out for companies that do not follow the rules.