SEC Shakes Up June with Lawsuits Against Top Crypto Exchanges

June proved eventful as the U.S. Securities and Exchange Commission (SEC), under the leadership of Chairman Gary Gensler, brought lawsuits against the two biggest crypto exchanges, Coinbase and Binance. Gensler’s actions incited significant backlash from industry participants. The actions of the SEC under Gensler’s stewardship drew criticism from the former Chairman Jay Clayton, who in a recent interview with CNBC recalled Gensler’s earlier statement, “If we’re not losing lawsuits, we’re not suing enough businesses.” Clayton believes this indicates a fundamental shift in Americans’ views of the government’s role, a shift he doesn’t endorse. “I don’t want to be in a place where the government is filing lawsuits they think they’ll lose,” Clayton stated. His sentiments were echoed by the likes of Cameron Winklevoss, co-founder of the Gemini exchange, who labeled the situation as an “abuse of power” by Gensler. Further criticisms painted Gensler as behaving more like a politician than […] The post SEC Shakes Up June with Lawsuits Against Top Crypto Exchanges appeared first on COINTURK NEWS.