Last week, the U.S. Securities and Exchange Commission (SEC) successively announced legal actions against Binance and Coinbase, setting off a collective panic in the...

Last week, the U.S. Securities and Exchange Commission (SEC) successively announced legal actions against Binance and Coinbase, setting off a collective panic in the encryption community. Binance, the world's largest encrypted asset exchange, was accused of mishandling customer funds and other crimes, while Coinbase was sued by the SEC for operating an illegal exchange. Tighter U.S. regulations sparked a temporary exit from some of the industry's biggest players, which turned into a sharp sell-off over the weekend. Bitcoin fell 2.1% over the weekend, while ethereum lost about 5%. Some altcoins, which the SEC threatened to classify as unregistered securities, fell even more. Blockchain platform Cardano’s native altcoin ADA fell 7.6%, Solana’s SOL fell 10.5%, Polygon’s MATIC fell 12.7%,...

Last week, the U.S. Securities and Exchange Commission (SEC) successively announced legal actions against Binance and Coinbase, setting off a collective panic in the encryption community. Binance, the world's largest encrypted asset exchange, was accused of mishandling customer funds and other crimes, while Coinbase was sued by the SEC for operating an illegal exchange. Tighter U.S. regulations sparked a temporary exit from some of the industry's biggest players, which turned into a sharp sell-off over the weekend. Bitcoin fell 2.1% over the weekend, while ethereum lost about 5%. Some altcoins, which the SEC threatened to classify as unregistered securities, fell even more. Blockchain platform Cardano’s native altcoin ADA fell 7.6%, Solana’s SOL fell 10.5%, Polygon’s MATIC fell 12.7%,...