Alt-Coin-Delete: Wall Street welcomes a crypto crackdown
The SEC's regulation of cryptocurrencies as securities could lead to blockchain leadership passing over to regulated banks, providing financial stability. Crypto exchanges have offered traders leverage of up to 125 times on their investment, while being sparsely regulated. The SEC has sued Binance and Coinbase, leading to banks withdrawing support from Binance's US site. The overall message from authorities is that investors should be pushed out of unregulated corners of the crypto world without depriving them of the efficiencies of decentralized ledgers.
The SEC's regulation of cryptocurrencies as securities could lead to blockchain leadership passing over to regulated banks, providing financial stability. Crypto exchanges have offered traders leverage of up to 125 times on their investment, while being sparsely regulated. The SEC has sued Binance and Coinbase, leading to banks withdrawing support from Binance's US site. The overall message from authorities is that investors should be pushed out of unregulated corners of the crypto world without depriving them of the efficiencies of decentralized ledgers.