June Mid-Month Report: Alts are Showing Their Faults
The risk of being altcoin heavy has been prominent in crypto here in June. Many have really gotten flushed as multiple FUD-causing stories have come out.
On June 5th, the SEC filed a lawsuit against Binance, claiming that Binance has been violating securities laws since it opened in 2017 and has failed to register as a broker-dealer ever since. The SEC is seeking injunctive relief, disgorgement of profits, and civil penalties. The SEC is also seeking to prevent Binance from continuing to operate as a securities exchange or broker-dealer.
The very next day, the SEC filed against Coinbase for operating an unregistered national securities exchange and broker-dealer. They are also claiming that Coinbase has offered at least 13 crypto assets that qualify as “crypto asset securities.” If proven to be correct, this would hamper the top US exchange from having
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