The following is an excerpt from today’s Global Newsletter.

So much for a slow news week.

One day after dropping 13 counts against Binance, the largest crypto exchange worldwide, the SEC set its sights on Coinbase.

These two cases only share one common thread, yet they’ll likely be grouped together by mainstream media outlets to make crypto the financial boogeyman.

With Binance, there has been an odor emanating from their C-suite for some time now, while Coinbase has been doing the same thing since going public.

This is not the first time Coinbase has been victimized by the SEC, not only moving the goalposts but changing the rules during the game.

Coinbase was approved when they IPO’d, and now they’re just PO’d as the legal monopoly that is the SEC decided to flex its muscles. Why the SEC did not give Coinbase a warning and require platform changes within, say, 60 days further illustrates their bad faith view of crypto.

The only upside for Coinbase is they have a shot at winning this case. It’s such an outrageous, egregious, preposterous lawsuit that Coinbase could hire Jackie Chiles and still come out with a decision.

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• Source: https://news.fintechnexus.com/global-newsletter-gensler-and-sec-waging-war-on-crypto-coinbase-todays-target/