SOL token which the SEC also designated as an unregistered security did wellIn addition the head of the SEC Gary with CNBC on Tuesday that America does not need any crypto money is already digital enough without itWe already have digital currency he added Its called the American dollar Its called the euro Shes just called They are all digital nowGensler also stated that crypto exchanges combine a number of features that would not be acceptable in the world of traditional finance As a hypothetical example he cited the New York Stock Exchange which would also operate a hedge fund.
Genslers comments came after the regulator sued the largest US crypto exchange Coinbase Indonesia WhatsApp Number Data for not being registered as an exchange clearinghouse and broker and allegedly selling unregistered securitiesAs for the first case the Binance exchange the SEC accused the worlds largest cryptocurrency exchange and its founder and CEO Changpeng Zhao of violating federal securities laws but they vehemently denied the charges .
According to the commission the exchange and its founder violated US investor protection rules by operating unregistered exchanges misrepresenting trading controls and selling unregistered securitiesThe key problem was that they failed to prevent American customers from accessing the platform In indictments we allege that Changpeng Zhao and the Binance exchange are engaged in a vast web of fraud conflicts of interest lack of disclosure and cal.