BKC Affiliate Molly White writes about lawsuits filed by the Securities and Exchange Commission against two of the world's largest cryptocurrency exchanges.
"To be sure, the SEC is taking on some risk here. Courts could embrace the crypto industry’s position, that the agency has overstepped by trying to enforce laws that don’t apply because they simply weren’t written to account for the crypto industry’s novel financial instruments, in a smackdown that would completely undermine the agency’s efforts to regulate the sector. But if the SEC emerges victorious — and their track record to date has been very strong — things will begin to look very different for crypto traders in the country. The Wild West era will draw to a close."