Woo: “Binance customers don’t care” about SEC enforcement action
Altcoin holders on Binance.US, however, seem more nervous.
The U.S. Securities and Exchange Commission announced its charges against Coinbase, finally revealing its precise objections to the company's practices.
The regulator also wants Binance.US and related companies to return customer funds.
Representatives of both companies said that the draft discussion bill could provide regulatory clarity. CFTC Chairman Rostin Benham expressed more limited support.
Coinbase stock, alongside several crypto-related stocks, have seen their values crash following the SEC's new lawsuit.
The SEC's actions against industry giants has pushed traders to decentralized alternatives.
BNB market cap crashed by around $4 billion despite Binance insistence that the token is not a security.